Seeking Alpha

The London Whale safely retired and JPMorgan's CIO gutted, traders from rival banks wade right...

The London Whale safely retired and JPMorgan's CIO gutted, traders from rival banks wade right back into the same positions which caused all the trouble. Among them is a bet against junk bonds - that CDS on high-yield paper will perform better than that of investment grade. "Everyone has the same position, everyone's being pushed by the Fed into positions they don't really like," says Citi's Stephen Antczak.
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