Firm Treasury yields could continue to weigh on the metal amid ongoing inflation concerns. Lingering tensions in the Strait of Hormuz could continue to push oil prices up, reinforcing inflation concerns and weighing on bullion.
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"The best way to deal with the problem is to actually deal with the problem, to acknowledge it, to work on it," Dimon stated, emphasizing the urgency of addressing the national debt.
"That's a dangerous thing," he said Thursday during an interview with Bloomberg TV, describing a scenario where demand and prices for Treasuries fall as foreign interest in the market declines.
Britain's tax wedge, which estimates total taxes on labour paid by employees and employers, minus cash benefits received by working households, increased by 2.45 percentage points last year, the most in the OECD.
"The historical evidence reveals a striking pattern: government bonds have repeatedly generated substantial real losses during these extreme episodes. They have even underperformed equities and real estates which are traditionally regarded as risky assets."
The idea has reportedly gained support from Defence Secretary John Healey and has been discussed in private ministerial meetings in recent weeks, as ministers search for ways to bridge a widening fiscal gap without breaking Labour's tax and borrowing pledges.
In principle, all the departments are supportive of the Shared Services Strategy. However, HM Treasury and the Department for Education (DfE), who currently have modern ERPs and are both in the Matrix cluster, have indicated they would welcome more information through the business case about likely costs for them before they assess that onboarding is feasible and value for money.