Goldman, JPMorgan Pouncing on Russia's Corporate Debt

The transcript discusses the role of banks and intermediaries in trading, especially during the ongoing conflict involving Russia. It highlights the reputational risks banks face and how they manage client relationships. The discussion includes trading volumes, particularly by JP Morgan, and the types of assets being traded, such as Gazprom and sovereign debt. The involvement of hedge funds in the market is also examined, raising questions about their impact and the search for distressed opportunities.

What are some of the risks associated with trading during a conflict, as mentioned in the text?

What arguments might traders use to justify their actions in the current market conditions?

How much trading did JP Morgan conduct recently, and how does it compare to daily averages before the conflict?

What types of assets are being traded according to the text?

What concerns are raised about hedge funds stepping into the market during this time?