Markets are ‘booming’, JPMorgan’s finance chief says

JPMorgan Chase’s finance chief said it would be “naive” not to be cautious about high asset prices but that financial markets were “booming”, after the bank reported record revenues in its equities trading business.

“I think it would be naive not to be worried,” Jeremy Barnum said on a call with reporters, adding: “But at the same time, it’s always easy to be worried and then the market keeps going up.”

Barnum also hailed the “booming environments with a ton of activity — big IPOs, big index rebalancing, a lot of activity in Asia