JPMorgan's Jamie Dimon warns of high leverage: 'Somebody will disrupt the market'

Jamie Dimon, chief executive officer of JPMorgan Chase & Co., during the Pennsylvania Defense and Innovation Summit in Carlisle, Pennsylvania, US, on Wednesday, July 15, 2026. Tom Brenner | Bloomberg | Getty ImagesJPMorgan Chief Executive Officer Jamie Dimon has warned that leverage across financial markets remained elevated, adding that investors should be mindful that hidden borrowing could amplify market disruptions."Margin debt is the highest it has ever been," he said in an interview with CNBC's Leslie Picker. "There's a lot of margin debt you don't see because it's not called margin debt. It's called other things. It's that kind of leverage, some hidden, some public."He pointed to borrowing through prime brokerages, hedge funds, exchange-traded funds and Treasury arbitrage strategies. "The market leverage is pretty high."The remarks come amid renewed scrutiny of leverage in financial markets, as elevated equity valuations, near-record hedge-fund leverage and large Treasury basis trades have fueled concerns that vulnerabilities may be building in parts of the financial system.Dimon said that heavy leverage increases the risk that a single investor or fund could trigger bro...