摩根大通首席执行官杰米·戴蒙（Jamie Dimon）正在为接近3亿美元的美国财政市场造成破坏

戴蒙（Dimon）的评论是随着债券收益率提高和市场波动的提高而出现的。收益率上升表明投资者正在从流行的行业中退缩

Amid heightened market volatility and the looming threat of a U.S. Treasury market disruption, JPMorgan Chase & Co (NYSE:JPM) CEO Jamie Dimon has urged the Federal Reserve to step in and prevent a crisis, similar to its actions during the early stages of the COVID-19 pandemic.

摩根大通（NYSE：JPM）首席执行官杰米·戴蒙（Jamie Dimon）敦促美联储敦促美联储介入和防止危机，类似于在Covid-19 Pandemic的早期阶段，在美国财政部市场中断的迫在眉睫的威胁和迫在眉睫的威胁中，与其行动相似。

During a Friday earnings call, Dimon expressed his views on the potential for trouble in the vast, nearly $30 trillion Treasury market, which could arise from current regulations hindering banks' ability to provide liquidity when needed.

在周五的收入电话会议上，戴蒙（Dimon）对在近300万亿美元的财政部市场中遇到麻烦的潜力表示了自己的看法，这可能是由于当前的法规阻碍了银行在需要时提供流动性的能力。

"There will be a kerfuffle in the Treasury markets because of all the rules and regulations," he said, adding that the Fed will only intervene "when they start to panic a little bit."

他说：“由于所有规则和规定，财政部市场将有一个kerfuffle。”他补充说，美联储只会在恐慌时才干预。”

His comments come as bond yields have soared and market turbulence has increased. The surging yields suggest that investors are pulling back from trades that exploited price discrepancies between Treasury futures and underlying bonds, further pressuring a market already strained by trade tensions in the U.S.-China trade war.

随着债券收益率飙升，市场动荡有所增加，他的评论就会增加。飙升的收益率表明，投资者正在从利用价格差异和基础债券之间的价格差异的交易中退缩，这进一步迫使已经受到美中国贸易战贸易紧张局势紧张的市场施加了巨大的压力。

Dimon noted that post-2020 regulations have limited banks' participation as buyers when liquidity dries up, as seen in 2020 when the Fed had to launch a multi-trillion-dollar bond-buying program to keep the market functioning.

戴蒙（Dimon）指出，2020年后的2020年后法规在流动性干燥时作为买家的参与有限，正如2020年美联储不得不启动一项千万亿美元的债券购买计划以保持市场运作的那样。

He is advocating for reforms that would grant banks greater leeway to act as intermediaries. One proposal under consideration is to exclude Treasuries from leverage ratio calculations, enabling institutions to acquire more government debt without affecting their capital ratios.

他倡导改革，这将使银行更大的回旋余地成为中介。正在考虑的一项提案是将国债排除在杠杆率计算之外，使机构能够在不影响其资本比率的情况下获得更多的政府债务。

"If they don't [change the rules], the Fed will have to intermediate, which I think is just a bad policy idea," Dimon stated.

戴蒙说：“如果他们不[更改规则]，美联储将必须中间，我认为这只是一个不好的政策想法。”

The Treasury market plays a crucial role in global finance, influencing various aspects such as mortgage rates and corporate bond yields. Dimon cautioned that if the system seizes up again, the implications will be far-reaching for the broader economy.

财政市场在全球金融中起着至关重要的作用，影响了抵押贷款利率和公司债券收益等各个方面。戴蒙（Dimon）警告说，如果该系统再次抓住，那么对更广泛的经济的影响将是深远的。

A Treasury market disruption that necessitates Fed intervention could also lead some investors to seek refuge in bitcoin (BTC), which is often perceived as a hedge against monetary uncertainty. This scenario unfolded in 2020 when bitcoin's price soared in response to the Fed's large-scale stimulus measures. However, other factors, including bitcoin's halving in 2020, may have also contributed to the cryptocurrency's price surge.output: JPMorgan Chase & Co (NYSE:JPM) CEO Jamie Dimon is bracing for a disruption in the nearly $30 trillion U.S. Treasury market that could force the Federal Reserve to step in, just as it did during the early days of the COVID-19 pandemic.

财政市场的破坏需要美联储干预措施也可能导致一些投资者寻求比特币（BTC）的庇护，这通常被认为是抵抗货币不确定性的对冲。这种情况在2020年展开，当时比特币的价格响应美联储的大规模刺激措施。然而，其他因素，包括比特币在2020年减半，也可能导致了加密货币的价格上涨。投资：摩根大通（JPMorgan Chase＆Co）（NYSE：JPM）首席执行官杰米·迪蒙（Jamie Dimon）努力破坏近30美元的美国品价市场，这可能会迫使美联储迫使美联储在早期的情况下逐渐发展。

Dimon, known for his blunt pronouncements on the financial system, said on Friday that current regulations could keep banks from stepping in as buyers when liquidity dries up in the critical market.

戴蒙（Dimon）以金融体系上的直率声明而闻名，他周五表示，当当前的法规在流动性在关键市场上枯竭时，当前的法规可能会阻止银行介入作为买家。

"There will be a kerfuffle in the Treasury markets because of all the rules and regulations," Dimon said during a call with reporters to discuss the bank's second-quarter earnings.

戴蒙在与记者致电时，讨论该银行的第二季度收益时说：“由于所有规章制度，财政部市场将在国库市场中有一个kerfuffle。”

His comments come as bond yields have spiked and market volatility has risen in recent months. The rising yields have suggested that investors are pulling back from popular trades that exploit gaps between Treasury prices and futures, adding stress to a market already rattled by trade tensions under the escalating U.S.-China trade war.

随着债券收益率提高，近几个月来市场波动率上升，他的评论就会出现。收益率上升表明，投资者正在从利用财政价格和期货之间差距的流行交易中撤退，从而为在不断升级的美国 - 中国贸易战升级下的贸易紧张局势的市场增加了压力。

"If they don't change the rules, the Fed will have to intermediate, which I think is just a bad policy idea," Dimon added.

戴蒙补充说：“如果他们不更改规则，美联储将不得不介入，我认为这只是一个不好的政策想法。”

The Treasury market plays a central role in global finance, setting the tone for everything from mortgage rates to corporate bond yields. Dimon warned that if the system locks up again, the consequences could ripple across the economy.

财政市场在全球金融中发挥着核心作用，为从抵押贷款利率到公司债券收益率的所有方面都奠定了基调。戴蒙（Dimon）警告说，如果系统再次锁定，后果可能会在整个经济中荡漾。

"It's not a good idea to have the Fed be the only intermediary in the biggest, most important market in the world to shut down," he said.

他说：“让美联储成为世界上最大，最重要的市场中唯一的中介不是一个好主意。”

The Fed stepped into the market in a big way in 2020 to keep it functioning after the coronavirus pandemic triggered massive outflows from money market funds, part of the broader credit markets freeze. The central bank's multi-trillion dollar bond-buying program was a key part of the urgent rescue package deployed by the Fed to keep the financial system afloat.

在冠状病毒大流行引发了货币市场基金的大量流出之后，美联储在2020年大大进入市场，以保持其运转，这是货币市场基金的大量流出，这是更广泛的信贷市场的一部分。中央银行的数亿美元债券购买计划是美联储为保持金融体系持续发展而部署的紧急救援计划的关键部分。

Dimon said current regulations, enacted in the wake of the 2008 financial crisis, are preventing banks from playing the same role as intermediaries.

戴蒙（Dimon）表示，在2008年金融危机之后制定的当前法规正在阻止银行扮演与中介机构相同的角色。

"The point is that if you don't have private-sector activity, you'll have public-sector activity, which I think is a bad idea," he said.

他说：“关键是，如果您没有私营部门活动，您将拥有公共部门活动，我认为这是一个坏主意。”

One idea under discussion is exempting Treasuries from leverage ratio calculations, which could allow institutions to buy more government debt without hitting capital buffers.

讨论中的一个想法是免除国库的杠杆比率计算，这可以使机构在不碰到资本缓冲的情况下购买更多的政府债务。

"We're happy to help and participate, but we can't be put in a box where we're not allowed to do it," Dimon said.

戴蒙说：“我们很乐意提供帮助和参与，但是我们不能被放在不允许这样做的盒子里。”