JPMorgan Hedges Silver for Clients, Masters Says on CNBC
JPMorgan Chase & Co. (JPM) mostly hedges silver for clients, and large speculative bets aren’t “part of our business model,” Blythe Masters, the bank’s head of global commodities, told CNBC.
Market participants “don’t see all our activity,” and bloggers have “a misunderstanding of the nature of our business,” Masters said today in an interview on CNBC. There is“an underlying client position” involved in hedge or forward trades, she said on CNBC.
A multiyear investigation into the possibility of unlawful acts in the silver market is continuing after regulators analyzed more than 100,000 documents, the U.S. Commodity Futures Trading Commission said in November.