Jamie Dimon warns of 'some kind of bond crisis' ahead as global debt risks build

jamie dimon, ceo of jpmorgan chase, warned tuesday that rising government debt levels could trigger a bond crisis. speaking at an investment conference held by norway's sovereign wealth fund, dimon said "the way it's going now, there will be some kind of bond crisis, and then we'll have to deal with it." he added that he's not worried about dealing with it, but that policymakers should act before markets force their hand. dimon pointed to a mix of risks — geopolitics, oil, government deficits — that could combine unpredictably. a bond crisis would likely mean a sudden jump in yields and a breakdown in market liquidity, forcing central banks to step in as buyers of last resort. he cited the 2022 uk gilt crisis as a recent example, when the bank of england had to stabilize the market. on private credit, dimon said the $1.7 trillion market isn't large enough to be a systemic risk to the us economy. but he warned that a downturn across all lending categories could be harsher than expected. "we haven't had a credit recession in so long, so when we have one, it would be worse than people think," he said. "it might be terrible."