Seeing way too many people treating this market as a run or the mill sell off, the likes of which we have seen regularly 2009-2019.. and assuming that policy action = buy the dip 1/
— Igor Schatz (@Copernicus2013) April 6, 2020
- JPMorgan Chase chief Jamie Dimon said he expects the coronavirus crisis to include a “bad recession” and elements of financial strain similar to the 2008 downturn.
- In his annual shareholders letter, Dimon also warned that the bank may have to consider suspending its dividend if the economy reaches “extremely adverse” conditions.
- As the economy worsens and loan losses mount, regulations put in place after the last crisis a decade ago would begin to constrain the bank, Dimon warned.
- He added that while JPMorgan “will participate in government programs to address the severe economic challenges, we will not request any regulatory relief for ourselves.”
I was so close to turning more bullish (less bearish?) until I see this metric was released by the New York Fed on consumer expectations. Since when do bear markets end on record optimism? pic.twitter.com/Gddwl5JDbj
— David Rosenberg (@EconguyRosie) April 6, 2020