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Stocks & Bonds Slammed As Dimon Warns “Brace For Economic Hurricane”

Courtesy of ZeroHedge View original post here.

US equity and bond markets just lurched lower (in price) and the dollar spiked higher as a combination of headlines hit.

Put all that together and equities tumbled…

Treasury yields spiked…

With the short-end getting hammered, flattening the yield curve…

And the dollar surged…

For now most desks are focusing on Dimon's comments and the potential 'worsening' of them in the last week:

"You better brace yourself,” Dimon told the roomful of analysts and investors.

“JPMorgan is bracing ourselves and we’re going to be very conservative with our balance sheet.“

At a previous conference, he called those risks "storm clouds," now he's saying

"It's a hurricane. That hurricane is right there, down the road, and coming our way. We don't know if it's a minor storm or if it's a Superstorm Sandy."

Dimon's comments follow Wells Fargo’s CEO warning this morning that higher interest rates mean the economy has to slow, and that a soft-landing scenario was hard to achieve.

Finally, we also note that Fed's Bostic walked back his September "pause" comments, clarifying that this is in no way meant to be a "Fed Put".

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