Sneak peek of Wilfred Frost's one-on-one with JPMorgan CEO Jamie Dimon
Speakers
Jamie Dimon
— CEO, JPMorgan Chase
Wilfred Frost
— Anchor, Sky News / Contributor, CNBC
Summary
A sneak peek of Wilfred Frost's interview with JPMorgan CEO Jamie Dimon on The Master Investor Podcast. Dimon explains why he avoids long-dated government bonds, citing sticky inflation risks and limited upside even if inflation moderates. Frost also discusses Dimon's broader cautious outlook on markets, leadership insights, and the SpaceX IPO.
- Jamie Dimon says he would not buy long-dated government bonds.
- He argues that even with 2% inflation, bond yields have little upside.
- Dimon warns inflation could reaccelerate, citing post-1974 historical patterns.
- Wilfred Frost notes Dimon's 'as good as it gets' comment applied to both equity and bond markets.
- Dimon acknowledges many strong individual companies despite broad caution.
- Frost also pressed Dimon on SpaceX IPO valuation and leadership succession.
- The full one-hour interview airs on Tuesday.
Ideas
No upside in long government bonds.
Jamie Dimon would not be a buyer of long-dated government bonds. Even if inflation falls to 2%, the 10-year Treasury yield should be around 4.5% and short rates around 3.25–3.5%, which are already priced in, leaving no upside. He also warns that inflation could reaccelerate, citing the post-1974 recession when inflation climbed from 3.5% to double digits despite falling deficits.
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Speakers: Jamie Dimon · Tickers: IEF