JPMorgan Chase CEO Dimon: The Bond Market Will Eventually Crack

On May 31st, Jamie Dimon, the CEO of JPMorgan Chase, cautioned that following the "massive overkill" spending and quantitative easing by the U.S. government and the Fed, the bond market is "likely to crack." Dimon stated, "I simply don't know whether it will occur in 6 months or 6 years from now, but it is bound to happen. I hope we can alter the trajectory by addressing our debt, exercising a bit of fiscal discipline, and implementing highly pro-competitive policies that support the growth agenda. This is not wishful thinking; it is what we should do." Dimon has been expressing concerns about global deficit spending in recent years. On Friday, when questioned about whether the so-called 'Bond Vigilantes' could make a comeback, he replied, "Yes."