Not many of you aware of the incident that took place in the month of April 2012 Bloomberg and Wall street journal made the headlines JPMorgan Trader’s Positions Said to Distort Credit Indexes and ‘London Whale’ Rattles Debt Market.
Picking up from the CDX.NA.IG indices are composed of 125 North American corporate credits that are investment grade when the index begins trading understanding JP Morgan loss.Taking a position in the index allows traders to hedge or speculate. Going long means selling protection on the index in the expectation that the underlying company credits improve or at least do not default. Going short means buying protection on the index. The net notional value of the CDX.NA.IG.9 has surged from about $90bn at the start of the year to $150bn in April – indicating a big jump in trading. Continue reading “The Whale trade of JP Morgan in 2012”
Recollecting some of the scandals in the Investment banking space from the The Barclays Saga and Libor , LIBOR Manipulation: Any thing for you Big Boyz , JP Morgan : Jamie Dimon Testimony and this series is endless. I believe, some of the quotes of the maverick author holds true here : Continue reading “Quotes From Maverick Author”
Recollecting some of the scandals in the Investment banking space from the The Barclays Saga and Libor , LIBOR Manipulation : ny thing for you Big Boyz , JP Morgan : Jamie Dimon Testimony and the series is endless ..I believe the quotes of the maverick author holds true :
- The main difference between government bailouts and smoking is that in some rare cases the statement “This is my last cigarette “holds true
- The difference between banks and Mafia: banks have better legal regulatory expertise,but Mafia understands the public opinion. Or you can say”Give a man a gun and he can rob a bank. Give a man a bank and he can rob the world” Continue reading “Banking Scandals”
The way things are turning out like The Barclays Saga and Libor , LIBOR Manipulation : ny thing for you Big Boyz , JP Morgan : Jamie Dimon Testimony and the series is endless ..I believe the quotes of the maverick author holds true :
Well its the last day of the month and the world economy standing in the mid of year 2012. Lets try to pull the events by connecting the dots and see where the world is :
1) After months weeks years of posturing and denial Spain and Cyprus formally requested aid from Europe bailout funds. More so they have officially confessed to their insolvency and the insolvency of their banking system.
Spain 10 year bond yield breached the worst level and it touched the 7% in return many od the Spain bank ratings got junk by Moodys
2) Over in the US, the city of Stockton, California filed for bankruptcy this week… Continue reading “2012 Mid Year World economy towards the path of Bailouts & Bankruptcies”