Jamie Dimon: I wouldn’t touch Treasuries at these rates with a 10-foot pole

Comments from the JPMorgan CEO

Comments from the JPMorgan CEO
  • Bank is over-reserved for base case economic scenario
  • Doesn’t see ‘earth shattering’ change to office work
  • Stimulus needed for unemployed and small business
  • Economic outlook is still ‘a little murky’
Who doesn’t want to lend the government money at 0.91% for 10 years at a time the Fed is dead-set on inflation and deficits are enormous?
Meanwhile, the consensus on the large bank reserves being released is that it will boost lending but I think that’s fanciful. For anyone creditworthy, money is cheap and easy. Dropping those reserves would be good for JPMorgan shareholders but I don’t know if there’s any significant economic knock-on effect.