| Gambling Addict Update: A JPMorgan Chase & Co. (JPM) trader of derivatives linked to the financial health of corporations has amassed positions so large that heĂ ‚¬ „ s driving price moves in the $10 trillion market, traders outside the firm said.
The trader is London-based Bruno Iksil, according to five counterparts at hedge funds and rival banks who requested anonymity because theyĂ ‚¬ „ re not authorized to discuss the transactions. He specializes in credit-derivative indexes, a market that during the past decade has overtaken corporate bonds to become the biggest forum for investors betting on the likelihood of company defaults...JPMorgan, declined to comment on IksilĂ ‚¬ „ s specific transactions. Iksil didnĂ ‚¬ „ t respond to phone messages and e-mails seeking comment. |
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At www.zerohedge.com
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