The firm said it would take another two years to just break even on the new division.
All of the lenders put aside more money to cover loans that might go bad.
The fallout could hurt some institutions with some “potentially fatally damaged,” he said.
The Russian invasion of Ukraine and the Federal Reserve's policy have created storm clouds, Dimon said.
UBS increased base salaries for first-year analysts to $110,000.
Companies are racing to raise easy money while they can.
The divide over access to corporate credit—who can get it, and who can’t—is likely to deepen.
Fitch Ratings projects 7% to 8% of leveraged loans will default by the end of 2021.
Intervention in the economy is widening the outcome gap between big companies and small companies.
A massive wave of corporate distress is pitting beleaguered companies against their lenders.
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