Investors and companies should at a minimum hedge the bulk of their exposure to the euro because Europe's banking system would collapse and global economic misery would follow if the euro zone falls apart, J.P. Morgan Chase & Co. (JPM) warned in a report Wednesday. Although J.P. Morgan thinks there is less than a 20% chance of this happening, it nonetheless advised clients to at least hedge against possible adverse moves in the single currency against the dollar and yen and to do this "on a rolling one-year basis, given that sovereign stress will persist for at least this long." John Normand, the U.S. bank's global ... (full story)