CHART OF THE DAY: This Is Jamie Dimon's Worst Nightmare

button more charts
button chart prev
button chart next

All of Wall Street is eager to see the debt ceiling raised and all of this default nonsense put in the rearview mirror. Jamie Dimon has been particularly upfront about his concerns, saying “we are praying” about the issue.

Why is he so concerned? Because he’s afraid of a run on the entire financial system.

This chart from a JPMorgan analyst, discussing the chances of a technical default, reminds you what happened to Money Market funds after Lehman defaulted, and the collapse of its bonds caused the Reserve Fund to “break the buck.” There was a huge run.

chart of the day, taxable funds, april 2011

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at