Spiking bond yields are stoking financial chaos – and the Fed will have to clean up the mess, JPMorgan strategist says

• A financial crisis is brewing as bond yields soar, according to JPMorgan Asset Management's David Lebovitz.
• "Eventually there's going to be a financial accident… something will break," he said Monday.
• Lebovitz's warning comes with 10-year Treasury yields at 16-year highs.

Soaring bond yields risk triggering financial chaos, a JPMorgan strategist has warned.

David Lebovitz said Monday that the ongoing fixed-income sell-off could spark market turmoil – and that some sort of "accident" will be necessary to persuade the Federal Reserve to start slashing interest rates in 2024.