Jamie Dimon says expect 'other surprises’ from choppy markets after U.K. pensions nearly imploded
In this article JPM Follow your favorite stocks CREATE FREE ACCOUNT Jamie Dimon, chief executive officer of JPMorgan Chase & Co., during a Bloomberg Television interview in London, U.K., on Wednesday, May 4, 2022. Chris Ratcliffe | Bloomberg | Getty Images JPMorgan Chase CEO Jamie Dimon says investors should expect more blowups after a crash in U.K. government bonds last month nearly caused the collapse of hundreds of that country's pension funds. The turmoil, triggered after the value of U.K. gilts nosedived in reaction to fiscal spending announcements, forced the country's central bank into a series of interventions to prop up its markets. That averted disaster for pension funds using leverage to juice returns, which were said to be within hours of collapse. "I was surprised to see how much leverage there was in some of those pension plans," Dimon told analysts Friday in a conference call to discuss third-quarter results. "My experience in life has been w...