skopros

The Hidden Credit Risk in Currency Funds

David--useful info; i came late to it...is the risk to FXF, FXY, FXA, etc., that whatever underlying "value" resides in JMP London is at jeopardy if JMP goes down. Am I reading correctly--that U.S. claims take precedence over UK claims in UK branch of US bank?

And can we know if those actual swiss francs, or yen or kiwis are actually deposited somewhere at JPM, rather than leased or optioned or "lent" out like gold often seems to be.

Martin Weiss recently claimed that JMP was more leveraged (to 400%) on risky "assets" than either Citi and BAC. Does this square with what you know?

Many thanks for your insightful articles and commentary.