Jamie Dimon Sees Credit Environment As 'The Best He Has Ever Seen'

The sell-side and buy-side must be looking at different markets. A flurry of prominent hedge fund managers such as Carl Icahn, Stanley Druckenmiller, and formerly retired George Soros say that the U.S. economy is in trouble due to credit issues. However, UBS mentioned in a note on Monday that JPMorgan Chase & Co. JPM CEO Jamie Dimon didn't share these concerns.

With regard to EU referendum, Dimon said a wide range of potential implications are too challenging to handicap to particular outcomes. With that siad, he still believes this is an important issue, and that the actual impact of a Brexit would take a year or two to take place.

Despite legal costs being behind not only the firm, but the industry as well, Dimon thinks bank stocks are being held down by murky regulatory concerns. Although he believes the regulatory pendulum may be slowing, it's still unlikely to recede soon.

UBS maintains their $68 price target on JPMorgan along with a Buy rating. Shares traded up 0.14 percent on Monday's session at $62.36.