JPMorgan CEO Dimon Warns Credit Downturn Could Be Worse Than Expected
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon renewed his warning that a credit market downturn could be worse than expected, saying in Oslo that a future credit recession would hit harder than many expect even though private credit is not big enough to be systemic.
Dimon said underwriting standards have deteriorated slightly across a broad swath of the market, with assumptions becoming too aggressive, leverage higher, covenants weaker and more ratings arbitrage. He said stagflation is his worst-case concern and also warned of 'some kind of bond crisis' ahead as global debt risks build.
From the sources (10 posts)
@financialjuiceJPMorgan's CEO Dimon: The credit downturn will be worse than people think.
@deitaoneDIMON: CREDIT DOWNTURN WILL BE WORSE THAN PEOPLE THINK
@firstsquawkJPMORGAN'S DIMON SAYS CREDIT DECLINE WILL BE MORE SEVERE THAN EXPECTED.
@zerohedge*JPM'S DIMON: CREDIT DOWNTURN WILL BE WORSE THAN PEOPLE THINK so the FDIC will hand Blue Owl to JPM during the next crash?
@wallstengineJPM'S JAMIE DIMON: CREDIT DOWNTURN WILL BE WORSE THAN PEOPLE THINK NEED TO MAKE SURE WE KEEP WESTERN WORLD TOGETHER
@deitaoneDIMON SAYS WORST CASE I WORRY ABOUT IS STAGFLATION
@thetranscript_$JPM CEO Jamie Dimon is in Oslo today with @NicolaiTang1 and spoke about the issues in private credit: "So you can see right from the beginning, it’s not huge, it’s not systemic. Even if a lot of it goes bad, it’s not going to cause a pro
@businessJPMorgan CEO Jamie Dimon again cautioned that a credit market downturn could be worse than expected.
@cnbcJamie Dimon warns of 'some kind of bond crisis' ahead as global debt risks build
@unusual_whalesJPMorgan's CEO DImon has said that the credit downturn will be worse than people think.