JPMorgan Stakes Its Own Capital on Record European Junk Bond Bet
- Bank commits to 43 underwritten deals so far this year
- Bridge loan book is the highest since the financial crisis
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JPMorgan Chase & Co. has committed more of its balance sheet to European junk bonds and loans than ever before as it bets on continued easy money and transitory inflation.
The bank has underwritten around 43 deals so far in 2021, the most on record, while its bridge loan book is the highest since the global financial crisis, according to Ben Thompson and Daniel Rudnicki Schlumberger, co-heads of leveraged finance for Europe, Middle East and Africa.