Even JP Morgan is getting worried about the actions of the ECB, what are your thoughts about this?
The European Central Bank’s bond-buying program has created a “dangerous” environment for investors by masking risks in the market for corporate debt, according to Mary Callahan Erdoes, the head of JPMorgan Chase & Co.’s asset and wealth management business.
“You’re equally rewarding the A-plus student and the student who’s doing no homework and is just showing up,” Erdoes said Wednesday at the CNBC Institutional Investor Delivering Alpha Conference in New York. “That’s a super dangerous place to be, because when that gets pulled back and the markets have to sort of figure out the good from the bad, and you have real-money buyers in there as opposed to the governments, then you start to do your homework and you figure out, ‘This is not all the same.’ ”
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