damn right it is
“There are no buyers or sellers in the market right now. Because of that, it is impossible for JPMorgan to get out of this trade,” said Gennaro Pucci, who oversees the PVE Macro Credit Fund in London. “These positions, which made sense for them to put on, just become impossible to manage when liquidity dries up.”
A senior Wall Street executive said on Friday: “JPMorgan violated the cardinal rule of risk: Don’t become the market.”
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