AXIOS (Nathan Bomey) - Why JPMorgan Chase CEO Jamie Dimon isn't sweating private credit
JPMorgan Chase CEO Jamie Dimon downplayed the threat of a private credit meltdown , while Goldman Sachs signaled that its private credit business is in good shape. Why it matters: The trend of investors exiting private credit funds has raised concerns that a blowup in nonbank lending could infect the broader financial markets. The big picture: Dimon noted Monday in his annual letter to shareholders that the leveraged private credit market totals $1.8 trillion, while investment-grade bonds total $13 trillion and residential mortgage securities and loans also total $13 trillion. - "In the great scheme of things, private credit probably does not present a systemic risk," Dimon wrote. Zoom in: His comments came on the same day that Goldman…