JPMorgan Chase Warns De-Dollarization Underway As Central Banks Ditch USD, Aggressively Stockpile Gold
JPMorgan Chase warns de-dollarization is accelerating, as central banks slash USD reserves while aggressively stockpiling gold. In a new note,...
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JPMorgan mulls cutting India, China share in Emerging Market Bond Index
JPMorgan’s index is the main benchmark for developing-nation debt funds, and changes to its composition can affect global investment flows....
JPMorgan Chase Admits Being Caught Offside on Emerging Market Currency Trade Amid US Dollar Weakness: Report
The biggest bank in the US reportedly says that a recent strategy to bet against emerging market (EM) currencies hasn’t worked out. Following President Donald Trump’s “Liberation Day” on April 2nd, JPMorgan Chase provided clients with a trade idea that involved flipping bearish on emerging market currencies, Bloomberg reports. Say JPMorgan strategists in a note, “Our UW (underweight) has not worked… We see sufficient arguments that EM FX (foreign exchange) will not weaken versus the USD in the coming period.” Bloomberg data shows that at least 14 different emerging market...
Wells Fargo Sues JPMorgan Chase Over Soured $481,000,000 Loan, Says US Bank Aware Seller Had Inflated Income: Report
Two of the largest banks in the US are reportedly locked in a legal battle over a $481 million commercial property loan. Wells Fargo is suing JPMorgan Chase, the largest back in the US, over accusations it greenlighted a real estate loan even though it allegedly knew that the financial statements were fraudulent, reports Reuters. In 2019, JPMorgan issued a loan to real estate development and investment firm Chetrit Group to finance the purchase of 43 multi-family buildings with 8,671 apartments across 10 states. Acting as the investors’ trustee, Wells...