Shares of banks and other financial institutions rose, recouping some of their recent losses as concern about the private-credit market percolated.
One key question: "How blurred is the line between private credit and typical financial institutions?" said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management. "What is the counterparty risk? Banking is still a very highly regulated industry; I'm not trying to suggest banks have extended the same type of structure that private credit has. My guess is there may be a closer tie there than one realizes."
JPMorgan Chase Chief Executive Jamie Dimon warned that the war in Iran could push up inflation and drag down financial markets even further if interest rates start to rise.
The Treasury Department designated the Bank of New York Mellon as a financial agent to manage so-called Trump accounts. The bank will team up with Robinhood Markets to design the accounts for families with young children.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-06-26 1728ET
