FED'S GOOLSBEE SAYS SIGNIFICANT INFLATION PROBLEM DEVELOPING

Jamie Dimon warned interest rates could rise much higher from current levels, citing a shift from a global savings glut to insufficient savings. He said concerns over higher oil prices, persistent inflation, government spending in the US, Japan and the UK, and AI-driven economic growth are pressuring long-term bonds. Dimon warned investors may eventually demand significantly higher compensation to hold long-duration debt.

BOFA GLOBAL RESEARCH EXPECTS BOE TO HIKE INTEREST RATES BY 25 BP EACH IN JULY AND SEPTEMBER VS PRIOR FORECAST OF RATE HIKES IN JUNE AND JULY