JP Morgan is in the news tonight:
“This portfolio has proven to be riskier, more volatile and less effective as an economic hedge than the firm previously believed,” the New York-based company said today in a quarterly securities filing.
Stock down 6% after hours, not good news on top of the instability emanating from Europe. Calls for the Fed to ease further with QE3 will be amplified, as will volatility as market participants react to every headline and rumour. This summer looks to be a lot more interesting with each passing day.