From cockroaches to 'comfortable': How bank leaders are now playing it cool on private credit

Business

On an earnings call in October, after two high-profile bankruptcies sent the market reeling, JPMorgan CEO Jamie Dimon issued a blunt warning about the health of the credit market: "When you see one cockroach , there's probably more." Six months later, that now-infamous metaphor has taken on a life of its own amid growing investor jitters over the opaque private credit industry. When analysts pressed Wall Street executives with questions about the future of private credit on earnings calls this

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