At Any Rate

J.P. Morgan’s FX strategists discuss the outlook for the USD and other currencies in the wake of the US Treasury’s unexpected increase in long-end bond buybacks.

Speakers:
Arindam Sandilya
Meera Chandan
Patrick Locke
James Nelligan

This podcast was recorded on 21 August 2026.

This communication is provided for information purposes only. Institutional clients can view the related report at

https://www.jpmm.com/research/content/GPS- 5416260 -0

for more information; please visit www.jpmm.com/research/disclosures for important disclosures.

© 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.

In this podcast, Jay Barry, Head of Global Rates Strategy, discusses the expansion of the U.S. Treasury’s buyback program and its implications for Treasury market liquidity, issuance dynamics, and institutional investors.

 

Speakers: 

Jay Barry, Head of Global Rates Strategy

Samantha Azzarello, Head of Content Strategy

 

This podcast was recorded on August 20, 2026.

 

This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5397119-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.

Anezka Christovova, Ben Ramsey and Ayomide Mejabi discuss the latest market developments and their impacts for the EM fixed income asset class.

This podcast was recorded on 20 August 2026

This communication is provided for information purposes only. 

© 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.

 

The Global FX team debates multiple issues: the outlook for USD, yen, as well as the fate of cyclical low-yielders. 

 

Speakers
Meera Chandan, Global FX Strategy
Arindam Sandilya, Global FX Strategy
Patrick Locke, Global FX Strategy
James Nelligan, Global FX Strategy
Octavia Popescu, Global FX Strategy 

 

This podcast was recorded on 14 August 2026.

This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5405224-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures.

© 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.

 

 

In this podcast, Frida Infante and Harry Downie discuss the latest inflation data and breakeven markets across the Euro area, the UK and the U.S. They talk through what’s a genuinely mixed bag of views this month, and where the key risks lie.

 

This podcast was recorded on 14 August 2026.

This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5372952-0  for more information; please visit www.jpmm.com/research/disclosures for important disclosures.

© 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.

J.P. Morgan Short Duration Strategists Pankaj Vohra and Molly Herckis discuss the latest developments in the ABCP and Non-financial CP market.

 

Speakers:

Pankaj Vohra, Senior US Short Duration Strategist
Molly Herckis, US Short Duration Strategist

 

This podcast was recorded on August 13, 2026.

This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5373973-0 and https://www.jpmm.com/research/content/GPS-5397888-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.

For the last few months, our focus has understandably been on oil and history's largest supply disruption. While we have spoken extensively about inventories and demand, one other component played a role - the positive supply response outside of the Middle East.

 

Speaker: 

Natasha Kaneva, Head of Global Commodities Research

 

This podcast was recorded on August 7, 2026.

 

This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5395656-0 and for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.

This week, our Global FX Strategists assess the impact NFP for the dollar in the wake of last week’s FOMC outcome and JPY intervention. We also expand on the carry trade’s resilience despite yen vol, and conclude with the latest news from the Euro bloc of currencies. 

 

Speakers:

Patrick Locke, Global FX Strategy

Antonin Delair, Global FX Strategy

James Nelligan, Global FX Strategy

 

This podcast was recorded on 07 August 2026.

This communication is provided for information purposes only. Institutional clients can view the related reports at

https://www.jpmm.com/research/content/GPS-5385231-0,

https://www.jpmm.com/research/content/GPS-5391832-0,

https://www.jpmm.com/research/content/GPS-5396957-0,

https://www.jpmm.com/research/content/GPS-5394775-0

for more information; please visit www.jpmm.com/research/disclosures for important disclosures.

© 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.

Ben Ramsey, YM Hong and Tania Escobedo Jacob discuss the latest market developments and their impacts for the EM fixed income asset class.

This podcast was recorded on 06 August 2026.

This communication is provided for information purposes only. 

© 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.

Rates strategists Jay Barry and Amanda Berke discuss Treasury’s August refunding announcement, the implications on issuance and yield levels, alongside a discussion of more structural themes in debt management.

 

Speakers: 

Jay Barry, Head of Global Rates Strategy

Amanda Berke, U.S. Rates Strategist

 

This podcast was recorded on August 6, 2026.

 

This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5397119-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.