An $8 Billion Loss Or Was JPMorgan ‘Unhedged, Long-And-Wrong’ Post-LTRO2?

More here: An $8bn Loss Or Was JPMorgan ‘Unhedged, Long-And-Wrong’ Post-LTRO2? (ZeroHedge, May 22, 2012): … So, in summary, it appears that the CDS data confirms what we suspected. A large (~$120bn) tail-risk tranche credit hedge was placed. The hedging of that hedge became very onerous but surprisingly profitable as markets rallied day after day [...] continue reading world news