JPMorgan CIO Michael Cembalest warns of Eurozone debt crisis and US slowdown in internal client memo (Aug 2011)
Summary
The memo provides insight into JPMorgan’s internal market outlook and mentions specific concerns about the ECB’s refusal to act as buyer of last resort for Italian bonds, potential German objections, ECB reportedly rejected being buyer of last resort for Italian sovereign bonds on Aug 4, 2011. Bundesbank allegedly objected to ECB intervention, suggesting intra‑EU tension. JPMorgan’s internal stra
This document is from the House Oversight Committee Releases.
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