"People Doing Some Dumb Things": Dimon Likens Current Private Credit Market To GFC

Corporate bonds are exposed to abrupt downside as liquidity providers are increasingly replaced by liquidity takers.

JPMorgan's CEO Jamie Dimon has warned of parallels to the era prior to the 2008 financial crisis.

“Unfortunately, we did see this in ’05, ’06 and ’07, almost the same thing — the rising tide was lifting all boats, everyone was making a lot of money,” Dimon told investors on Monday.