Jamie Dimon Sees ‘Early Signs’ Of Excess In Corporate Lending Amid Bankruptcies In US Auto Market: Report
Synopsis
Speaking to reporters after JPMorgan’s third-quarter results, Dimon was referring to the collapse of auto parts company First Brands and car lender Tricolor Holdings.
JPMorgan Chase & Co. (JPM) CEO Jamie Dimon reportedly stated on Tuesday that there are “early signs” of excess in corporate lending in the U.S., as evidenced by bankruptcies in the auto industry.
Dimon was speaking to reporters after JPMorgan’s third-quarter (Q3) results, according to a CNBC report. He was referring to the collapse of auto parts company First Brands and car lender Tricolor Holdings.
“These are early signs there might be some excess out there because of it. If we ever have a downturn, you’re going to see quite a bit more credit issues,” Dimon said, while adding that there has been a credit bull market since 2010 or 2012.
JPMorgan’s shares were down nearly 3% in Tuesday morning’s trade. Retail sentiment on Stocktwits around the company trended in the ‘extremely bullish’ territory at the time of writing.
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