Quote:
Originally Posted by L-Pink
Anyone know what this actually means?
"JPMorgan reported that since the end of March, its Chief Investment Office has had significant mark-to-market losses in its synthetic credit portfolio - these typically include derivatives intended to mimic the performance of securities"
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mark to market = fair value
synthetic credit portfolio = credit swab contracts
in other words big losses on dealing with contracts hedging against commercial loans.
i think this is how we got in trouble the first time.