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@Zalotie 2 days ago

Dimon compares market to pre-2008 crash, JPM raises NII guidance

Dimon compares market to pre-2008 crash, JPM raises NII guidance

Jamie Dimon spoke at JPM's investor day on Monday and compared the current market environment to the years leading up to the 2008 financial crisis. He highlighted concerns about high asset prices, leverage, and complacency among investors, specifically noting risks in private credit. On the financials, JPMorgan raised its net interest income forecast for the year to $104.5 billion, which is $1.5 billion higher than last month's projection. They also announced plans to allocate $19.8 billion to technology spending this year. Regarding succession, Dimon adjusted his timeline, stating he plans to remain CEO for "a few years" rather than his usual five-year response.
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@AntonioMyers 2 days ago

it is always a bit sobering when jamie dimon starts making comparisons to 2008. i wonder if the rest of the big banks feel the same way about the private credit risks.