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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (48746)8/2/2002 1:28:26 PM
From: Sully-  Read Replies (2) of 209892
 
13:26 ET JP Morgan Chase falls again on derivatives rumors (JPM) 23.69 -1.33: We are hearing a number of rumors that may explain the hit JPM shares are taking today; a rumor is circulating among traders that JPM has an estimated $51 bln in net derivatives exposure-- nearly 3x any other U.S. bank, while corporate bond desks are saying that a rumor of a large bank with massive derivatives losses is hitting spreads; keep in mind, however, that these rumors have been around for some time now (see JPM archives), and S&P on July 24 said that JPM's equity base should provide comfort against unanticipated event risk.
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