JPMorgan Chase CEO Dimon: U.S. bond market will be chaos, thus prompting the Federal Reserve to intervene
JPMorgan Chase Chief Executive Officer Jamie Dimon said he expects the U.S. bond market will be a ‘chaos,’ thus prompting the Federal Reserve to intervene. Damon said on Friday's earnings call that ‘there's going to be some chaos in the U.S. bond market due to various rules and regulations.’ He added that the Fed would then step in, but not until ‘they start to panic a little bit.’ Yields, particularly long bond yields, have climbed sharply this week as Trump's tariff policy continuum triggers broader market turmoil. The move has raised questions about whether the asset has lost its safe-haven appeal and sparked fears of a big unwinding of the basis trade.
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To prevent liquidity support from being seen as QE, Federal Reserve's Logan proposes separate accounting for market functioning bond purchases and accelerated sales.
Dallas Federal Reserve President Lorie Logan stated that the Federal Reserve should completely separate market-functionality bond purchases from monetary policy operations, record them independently, and commit to selling them as soon as possible in order to dispel market concerns over the Fed potentially suppressing long-term yields. She emphasized that a full understanding of the Fed’s decision-making logic by the market itself has a stabilizing effect.
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