Did JPM clear a trade contract via overseas OTC off market?
With cash in the money market account
Now since that trade was made shorts are moving in for a deeper dive for next week opex premium
My opinion
After the summer snatch they then will be force to raise the floor prices to $35-40 PPS
If the cat comes back tonight they covered a short that was exposed for some future loss control damage but the termination of the July 2025 swap contracts damage will not be as big as it could have been had they left it exposed T2 to T6 is now in play