private credit

Paramount Skydance launched a hostile $30‑per‑share all‑cash bid for Warner Bros. Discovery, outbidding Netflix’s $27.75 cash‑and‑stock offer, sending Paramount shares up 9% and WBD up 4.4%. Meanwhile, the U.S. approved Nvidia’s H200 AI chips for export to selected foreign customers with required U.S. revenue repatriation, nudging its stock higher. Major U.S. indexes fell as investors priced in a ~90% chance of a 25‑basis‑point Fed rate cut at the year‑end meeting, warning of a 2‑3% equity pullback if the cut is missed. Private‑credit markets are now mirroring high‑yield bonds, raising underwriting‑standard concerns.

JPMorgan Chase CEO Jamie Dimon expresses caution about the U.S. economy’s prospects, anticipating potential headwinds. He cites cooling effects after government stimuli, the impact of previous administrations policies, and concerns in the private credit sector. Dimon suggests a potential economic slowdown with rising inflation and acknowledges the complexity added by factors like reduced immigration. Despite resilient job growth, he advises businesses and investors to prepare for challenges.