JPMorgan’s Trades Threaten to Take Privacy Out of Private Credit
- Biggest US bank made a couple of billion in secondary trades
- Market divided over trading of debt; some see distress ahead
The JPMorgan Chase & Co. headquarters in New York.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
JPMorgan Chase & Co. is making the titans of private credit markets very anxious.
The biggest US bank’s foray into trading private credit loans — an as yet largely untapped corner of the $1.7 trillion market — threatens to lift the veil on a world where a key selling point has been privacy of information about the debt.