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2023-09-26

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Jamie Dimon on Interest Rates: "I Am Not Sure the World Is Prepared for 7%"

Going from zero to 2% was almost no increase. Going from zero to 5% caught some people off guard, but no one would have taken 5% out of the realm of possibility. I am not sure if the world is prepared for 7%. Jamie Dimon. That's JPMorgan Chairman and CEO Jamie Dimon, talking to the Times of India, a week after the Federal Reserve kept interest rates steady in a range between 5.25% and 5.5% and flagged one last rate hike for this economic cycle.In the interview, Dimon said the worst case would be 7% interest rates with stagflation. "If they are going to have lower volumes and higher rates, there will be stress in the system. We urge our clients to be prepared for that kind of stress," he said.Dimon was speaking to the newspaper after JPMorgan's decision to add India to its emerging-market government bond index. "It is a very good thing for India to be part of the index because it has other ramifications and implications about transparency and the country's growth. So, it will help equ

Jamie Dimon on Interest Rates: "I Am Not Sure the World Is Prepared for 7%"

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Going from zero to 5% caught some people off guard, but no one would have taken 5% out of the realm of possibility. I am not sure if the world is prepared for 7%.  Jamie Dimon. That's JPMorgan  Chairman and CEO Jamie Dimon, talking to the Times of India, a week after the Federal Reserve kept interest rates steady in a range between 5.25% and 5.5% and flagged one last rate hike for this economic cycle.In the interview, Dimon said the worst case would be 7% interest rates with stagflation. \"If they are going to have lower volumes and higher rates, there will be stress in the system. We urge our clients to be prepared for that kind of stress,\" he said.Dimon was speaking to the newspaper after JPMorgan's decision to add India to its emerging-market government bond index. \"It is a very good thing for India to be part of the index because it has other ramifications and implications about transparency and the country's growth. So, it will help equ","content":"<html><head></head><body><blockquote><p>Going from zero to 2% was almost no increase. Going from zero to 5% caught some people off guard, but no one would have taken 5% out of the realm of possibility. I am not sure if the world is prepared for 7%. ——Jamie Dimon</p></blockquote><p>That&#39;s JPMorgan <a href=\"https://laohu8.com/S/JPM\">$(JPM)$</a> Chairman and CEO Jamie Dimon, talking to the Times of India, a week after the Federal Reserve kept interest rates steady in a range between 5.25% and 5.5% and flagged one last rate hike for this economic cycle.</p><p>That makes Dimon considerably more hawkish than his own economists -- who just expect one more rate hike -- or the markets in general.</p><p>While financial markets don&#39;t necessarily envision a world with 7% interest rates, they are adjusting to a higher-for-longer stance at the Fed.</p><p>The yield on the 10-year Treasury BX:TMUBMUSD10Y jumped another 10 basis points on Monday to the highest level in nearly 16 years. The yield on the 30-year BX:TMUBMUSD30Y has surged as well, reaching its highest level in more than 12 years. The S&amp;P 500 SPX did manage to advance on Monday despite long yields rising, but the index is 5% below its late July highs.</p><p>In the interview, Dimon said the worst case would be 7% interest rates with stagflation. &#34;If they are going to have lower volumes and higher rates, there will be stress in the system. We urge our clients to be prepared for that kind of stress,&#34; he said.</p><p>One worry Dimon does not share, however, is the combination of social media and digital banking. &#34;Social media and online banking existed during the great financial crisis. Only a handful of banks had the problem -- Silicon Valley Bank, First Republic Bank and Signature. Other banks did not have a problem,&#34; he said. &#34;The problem of interest rate exposure was known to everyone. I do not think we want a system where no bank ever fails.&#34;</p><p>Dimon was speaking to the newspaper after JPMorgan&#39;s decision to add India to its emerging-market government bond index. &#34;It is a very good thing for India to be part of the index because it has other ramifications and implications about transparency and the country&#39;s growth. So, it will help equity flows into India,&#34; he said.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Jamie Dimon on Interest Rates: \"I Am Not Sure the World Is Prepared for 7%\"</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJamie Dimon on Interest Rates: \"I Am Not Sure the World Is Prepared for 7%\"\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2023-09-26 16:30</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><blockquote><p>Going from zero to 2% was almost no increase. Going from zero to 5% caught some people off guard, but no one would have taken 5% out of the realm of possibility. I am not sure if the world is prepared for 7%. ——Jamie Dimon</p></blockquote><p>That&#39;s JPMorgan <a href=\"https://laohu8.com/S/JPM\">$(JPM)$</a> Chairman and CEO Jamie Dimon, talking to the Times of India, a week after the Federal Reserve kept interest rates steady in a range between 5.25% and 5.5% and flagged one last rate hike for this economic cycle.</p><p>That makes Dimon considerably more hawkish than his own economists -- who just expect one more rate hike -- or the markets in general.</p><p>While financial markets don&#39;t necessarily envision a world with 7% interest rates, they are adjusting to a higher-for-longer stance at the Fed.</p><p>The yield on the 10-year Treasury BX:TMUBMUSD10Y jumped another 10 basis points on Monday to the highest level in nearly 16 years. The yield on the 30-year BX:TMUBMUSD30Y has surged as well, reaching its highest level in more than 12 years. The S&amp;P 500 SPX did manage to advance on Monday despite long yields rising, but the index is 5% below its late July highs.</p><p>In the interview, Dimon said the worst case would be 7% interest rates with stagflation. &#34;If they are going to have lower volumes and higher rates, there will be stress in the system. We urge our clients to be prepared for that kind of stress,&#34; he said.</p><p>One worry Dimon does not share, however, is the combination of social media and digital banking. &#34;Social media and online banking existed during the great financial crisis. Only a handful of banks had the problem -- Silicon Valley Bank, First Republic Bank and Signature. Other banks did not have a problem,&#34; he said. &#34;The problem of interest rate exposure was known to everyone. I do not think we want a system where no bank ever fails.&#34;</p><p>Dimon was speaking to the newspaper after JPMorgan&#39;s decision to add India to its emerging-market government bond index. &#34;It is a very good thing for India to be part of the index because it has other ramifications and implications about transparency and the country&#39;s growth. So, it will help equity flows into India,&#34; he said.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","BK4534":"瑞士信贷持仓","BK4585":"ETF&股票定投概念","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","LU1261432733.SGD":"Fidelity World A-ACC-SGD","BK4533":"AQR资本管理(全球第二大对冲基金)","SG9999002232.USD":"Allianz Global High Payout USD","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","BK4566":"资本集团","LU1670627923.USD":"M&G (LUX) NORTH AMERICAN DIVIDEND \"A\" (USD) ACC","SG9999002224.SGD":"Allianz Global High Payout SGD","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","LU0106831901.USD":"贝莱德世界金融基金A2","LU0496365809.HKD":"TEMPLETON GLOBAL INCOME \"A\" (HKD) INC (Q)","LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","LU0211326755.USD":"TEMPLETON GLOBAL INCOME \"A\" (USD) ACC","BK4550":"红杉资本持仓","BK4588":"碎股","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","BK4207":"综合性银行","LU1244550221.USD":"FRANKLIN GLOBAL MULTI-ASSET  INCOME \"A\" (USDHEDGED) INC (M)","LU0976567544.SGD":"FTIF - Templeton Global Income A Mdis SGD-H1","LU0971096721.USD":"富达环球金融服务 A","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","LU1267930490.SGD":"TEMPLETON GLOBAL EQUITY INCOME \"AS\" (SGD) INC A","LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","LU0149725797.USD":"汇丰美国股市经济规模基金","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","BK4581":"高盛持仓","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU0882574139.USD":"富达环球消费行业基金A ACC","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","BK4504":"桥水持仓","LU1244550494.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) ACC","LU1496350171.SGD":"FRANKLIN DIVERSIFIED BALANCED \"A\" (SGDHDG) ACC","LU0211331839.USD":"FRANKLIN MUTUAL GLB DISCOVERY \"A\" (USD) ACC","LU1496350502.SGD":"FRANKLIN DIVERSIFIED DYNAMIC \"A\" (SGDHDG) ACC","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD)   INC","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","IE00B775SV38.USD":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","JPM":"摩根大通","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2370240625","content_text":"Going from zero to 2% was almost no increase. Going from zero to 5% caught some people off guard, but no one would have taken 5% out of the realm of possibility. I am not sure if the world is prepared for 7%. ——Jamie DimonThat's JPMorgan $(JPM)$ Chairman and CEO Jamie Dimon, talking to the Times of India, a week after the Federal Reserve kept interest rates steady in a range between 5.25% and 5.5% and flagged one last rate hike for this economic cycle.That makes Dimon considerably more hawkish than his own economists -- who just expect one more rate hike -- or the markets in general.While financial markets don't necessarily envision a world with 7% interest rates, they are adjusting to a higher-for-longer stance at the Fed.The yield on the 10-year Treasury BX:TMUBMUSD10Y jumped another 10 basis points on Monday to the highest level in nearly 16 years. The yield on the 30-year BX:TMUBMUSD30Y has surged as well, reaching its highest level in more than 12 years. The S&P 500 SPX did manage to advance on Monday despite long yields rising, but the index is 5% below its late July highs.In the interview, Dimon said the worst case would be 7% interest rates with stagflation. \"If they are going to have lower volumes and higher rates, there will be stress in the system. We urge our clients to be prepared for that kind of stress,\" he said.One worry Dimon does not share, however, is the combination of social media and digital banking. \"Social media and online banking existed during the great financial crisis. Only a handful of banks had the problem -- Silicon Valley Bank, First Republic Bank and Signature. Other banks did not have a problem,\" he said. \"The problem of interest rate exposure was known to everyone. I do not think we want a system where no bank ever fails.\"Dimon was speaking to the newspaper after JPMorgan's decision to add India to its emerging-market government bond index. \"It is a very good thing for India to be part of the index because it has other ramifications and implications about transparency and the country's growth. So, it will help equity flows into India,\" he said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":417,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":30,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}