(Reuters) - JPMorgan Chase & Co said it has taken an unexpected market loss in a trading book after a hedging strategy failed.
Since the end of March, the company's chief investment office "has had significant mark-to-market losses in its synthetic credit portfolio," the company said in a filing late on Thursday.
The Chief Investment Office is an arm of the bank that JPMorgan has said it uses to make broad bets to hedge its portfolios of individual holdings, such as loans to speculative-grade companies.
(Reporting by David Henry in New York)
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