Jamie Dimon says he wouldn’t buy stocks or Treasurys at current prices - Fox Business

What the report says

Fox Business reported that JPMorgan Chase CEO Jamie Dimon told CNBC on Monday he would not buy broad stock-market exposure or long-term U.S. Treasury bonds at current levels. Dimon said investors may be underestimating risks that could unsettle both equity and debt markets, pointing to conflicts in Ukraine and the Middle East, tensions involving the U.S. and China, and wider fiscal pressures.

According to the report, Dimon argued that government deficits and increased defense spending could help keep bond yields elevated. He said the 10-year Treasury yield “should probably” be around 4% to 4.5% even if inflation falls back to the Federal Reserve’s 2% target, and said he sees limited upside in long-term Treasurys. Fox Business noted the 10-year yield was about 4.6% and had stayed above 4.2% since March.

The article also cited recent consumer price index data showing annual inflation at 3.5%, above the Fed’s target, and said persistent inflation led policymakers to hold rates steady at their June meeting. It added that market expectations for rate cuts have weakened, based on the CME FedWatch tool.

On stocks, Dimon said he would avoid buying the market broadly at today’s high valuations, preferring to search for individual companies he considers attractive. He also compared the artificial intelligence investment boom to the early internet era, suggesting AI is likely to deliver major long-term value but may not pay off for companies on the schedule or in the way investors expect.