If JPMorgan Manipulated U.S. Treasury Yields: There Is A Bust Coming

It's still not clear how the Whale managed to lose $2 billion (and counting), but most likely that had something to do with interest rate swaps because that's the main way that JPMorgan makes money.


Jim Willie who posts under the name of The Jackass has a theory interest rate swaps created speculative demand for U.S. Treasuries and that drove yields down…in other words there is a bubble.


If there is a bubble it will bust eventually; The Jackass says that could be catastrophic because the notional value is so huge.

 

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