2.5 KiB
JPMorgan to Sell $13 Billion of Bonds in Largest Bank Sale Ever
| Author | Source |
|---|---|
| u/Captain_Omar |
It's happening!
From the article:
JPMorgan Chase & Co. is poised to sell $13 billion of bonds, setting a record for the largest bond sale ever from a bank, according to data compiled by Bloomberg.
The longest portion of the five-part offering, a 31-year security, is expected to yield 107 basis points above Treasuries, according to a person familiar with the matter. The sale comes a day after JPMorgan reported strong first-quarter earnings, including a 15% increase in fixed-income, currency and commodity trading revenue and a $5.2 billion release from its credit reserves. Rival Goldman Sachs Group Inc. is also selling bonds Thursday.
The previous largest sale by a bank also came from JPMorgan, a $10 billion offering in April 2020, the Bloomberg-compiled data show.
JPMorgan is the sole bookrunner of the sale, and the proceeds are marked for general corporate purposes.
edit: for some context check out the following links:
https://www.reddit.com/r/GME/comments/mgucv2/the_everything_short/
https://www.reddit.com/r/GME/comments/mhw44x/wondering_where_tf_the_sec_is_the_financial/
TL:DR from the second link above:
Remember❗Hedgies aren't just shorting GME to oblivion. They've been doing this to US Treasury Bonds. Particularly 10 year ones. If that implodes, then the government can no longer guarantee the value of its own dollar, because those "insurance policies" i.e. US bonds are worthless=Dollar go boom 💥 Treasury Secretary Yellen called a meeting to seemingly stop that boom.