JPMorgan Chase bought $350 million worth of bonds from Ukraine’s government Tuesday, paying 98.88 cents on the dollar, reports The Wall Street Journal. The bank has been reselling them to investors at about 100.50 cents on the dollar. The Journal calculates that if JPMorgan sells all of the bonds at that price it would make a $5.7 million profit from this private sale. “In general we have a supportive environment for emerging markets, and JPMorgan is taking advantage of that,” Jan Dehn, research head at Ashmore Group, tells the Journal. ”Good for them. That’s what the market is there for.”
JPMorgan Chase bought $350 million worth of bonds from Ukraine’s government Tuesday,
