[JPM Whale-Watching Tour] Tracking trades down
The last twenty-four hours have brought us some incredibly interesting insights into the JPMorgan chief investment office’s $2bn loss story. In some impressive feats of investigative...
The (early) Lunch Wrap
Good morning, New York…FT ALPHAVILLE Central counterparty clearing and settlement was always intended to make the financial system safer. Izzy discusseshow there may,...
[JPM Whale-Watching Tour] The high yield tranche piece
Coverage of the $2bn $3bn loss emanating from JPMorgan’s Chief Investment Office on its synthetic credit portfolio continues a pace, and FT Alphaville’s tour continues too....
[JPM Whale-Watching Tour] Recap and tranche primer
There were small [losses] in the first quarter, but real ones that we talked about the $2 billion were all in the second quarter. And it kind of grew as the quarter went on.That’s...
Credit event of the year…(drumroll)
What would you think if this headline graced your inbox?Managers triumph at credit event of the yearFT Alphaville immediately thought, wait a second, there’s an award...
The state of the eurozone, credit edition
Have you been wondering how Greece’s “new” bonds are doing? As in, the ones that were given to all those debtholders when they finally agreed — or were...
[JPM Whale-Watching Tour] Two billion dollar ‘hedge’
Trust us, it isn’t easy to lose $2bn in a “synthetic credit portfolio” over five weeks from the beginning of April, as JPMorgan’s Chief Investment Office managed to do....
Further reading
Elsewhere on Monday,- Ugly history lessons for a Grexit.- And the price tag thereof: €400bn, give or take.- The Greeks themselves await a emotional cleansing.- Spain,...
[JPM Whale-Watching Tour] What position transparency?
“Synthetic credit portfolio”. That’s the book where the $2bn in mark-to-market losses took place for JP Morgan, according to an announcement made on Thursday....
[JPM Whale-Watching Tour] Too Big To Hedge
Throughout FT Alphaville’s coverage of the credit trades of JP Morgan’s Chief Investment Office, there were two thoughts that kept nagging us. We’d think about...
Decoding the latest OTC derivative BIStimates
Just when someone’s gone and put a decent dataset together, someone has to go and mess it up. Thanks, Spain and Australia. Really, thank you. None of us really cared that...
Think sustainable, end quarterly reporting
Back in February, Generation Investment Management LLP, a firm co-founded by Al Gore and David Blood in 2004, issued a report entitled “Sustainable Capitalism”. It...
