JP Morgan Dumps All Short-Term US Treasuries As Default Approaches Next Week With No deal On The Debt Ceiling
Arabian Money
The US Government shutdown continues and we are only five days from national bankruptcy when the debt celing is reached. Fund managers at Fidelity and JP Morgan have taken the prudent view and have dumped all their short-term US treasuries just in case of the first default in the history of the union.
Not wishing to panic markets the bank said: ‘Although JPMorgan Investment Management continues to believe that the probability of a US government default is low, it has taken certain precautionary measures with respect to the money markets.’
Armageddon plan
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