‘You are going to panic,’ Jamie Dimon tells regulators about what will happen when the bond market cracks
The bond market is on edge, but less so this week after smooth Treasury auctions and talk of a key banking reform this summer
JPMorgan Chase CEO Jamie Dimon, shown here in speaking in Paris earlier this month, fired off a warning about the bond market on Friday, telling regulators they “are going to panic.”
Jamie Dimon, JPMorgan Chase & Co.’s longstanding chief executive, fired off a warning about the bond market on Friday, telling regulators they will “panic” when it happens.
“You are going to see a crack in the bond market — OK,” Dimon said, speaking at an event organized by the Ronald Reagan Presidential Foundation. “It is going to happen.”
“And I tell this to my regulators — some of who are in this room — I’m telling you this is going to happen. And you are going to panic.”
Dimon has been a frequent critic of banking regulations, pointing to
“deep flaws” in the rules in the wake of extreme tumult in the bond market in April. He has singled out proposed changes to banks’ supplementary leverage ratio as likely to aid the roughly $29 trillion Treasury market.
A sharp bond selloff in April has kept investors on edge and rattled White House officials. President Donald Trump, during peak tumult,
said that bond investors were getting “yippy.”