... which in turn is a walk in the park compared to the -30% EPS crash expected in Q2...

... and unlike prior quarters, nobody will care about bank FICC revenues or Net Interest Income. Instead investors will care about only one thing: how much money will U.S. banks lose on loans because of the coronavirus recession.

JPMorgan will kick it off tomorrow morning ahead of the bell, and investors will closely watch comments from CEO Jamie Dimon, especially after his recent ominous investor letter in which he warned that what is coming will "at a minimum include a bad recession combined with some kind of financial stress similar to the global financial crisis of 2008", in his first earnings call since suffering a heart attack. Wells Fargo reports right after and then Bank of America, Goldman Sachs and Citigroup all follow on Wednesday.