At Any Rate

Global FX: The beginning of the end?

Arindam Sandilya and James Nelligan discuss FX markets in the aftermath of US - Iran ceasefire.

This podcast was recorded on 10 April 2026.

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

https://www.jpmm.com/research/content/GPS-5258865-0 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.

US Rates - GSIB and Basel III Endgame Update

Teresa Ho and Ipek Ozil discuss the latest updates on GSIB and Basel III Endgame and their impact on rates markets.

 

Speakers:

Teresa Ho, Head of US Short Duration Strategy

Ipek Ozil , Head of US Interest Rate Derivatives Strategy

 

This podcast was recorded on April 9, 2026.

This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5253130-0  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.

EM Fixed Income: Will EM markets keep trading Iran conflict de-escalation?

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

This podcast was recorded on 09 April 2026.

© 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.

Global Commodities: A Month of Disruption

There has been no rest for commodities in the last 34 days. This week, Houthis have formally entered the conflict, while metals and energy infrastructure continued to be targeted by strikes. With an expanded geography of the war and no immediate off-ramp in sight, market volatility persists. In this episode, we discuss this week's updates and the month behind us.

 

Speakers: 

Natasha Kaneva, Head of Global Commodities Research

Greg Shearer, Head of Base and Precious Metals Strategy

Otar Dgebuadze, European Natural Gas

 

This podcast was recorded on April 2, 2026.

 

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

https://www.jpmm.com/research/content/GPS-5250119-0, https://www.jpmm.com/research/content/GPS-5252085-0, https://www.jpmm.com/research/content/GPS-5249648-0, https://www.jpmm.com/research/content/GPS-5249764-0, https://www.jpmm.com/research/content/GPS-5244760-0  and https://www.jpmm.com/research/content/GPS-5248912-0  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.

Global FX: Wary of complacency in FX

We run through the state of current macro markets as this week’s geopolitics has unfolded, detailing our view about potentially complacent FX markets in the face of cyclical risks. Our cross asset strategy colleague Jainik Mody also joins to discuss risks for EM equities.

Speakers:

James Nelligan

Jainik Mody, CFA

 

This podcast was recorded on 02 April 2026.

This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5245935-0, 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 Focus: Middle East Conflict

Welcome to JPMorganChase Global Research’s new In Focus podcast, where we explore timely, thematic topics with insights from across Global Research. In today’s episode, we bring together cross-asset perspectives to examine the geopolitical and market ramifications of the Middle East conflict. We start with the commodity impact—including oil and gold—then discuss implications for global growth and inflation, the outlook for risk assets, and the broader FX landscape.

 

Speakers:

Natasha Kaneva, Head of Global Commodities Strategy

Nora Szentivanyi, Senior Global Economist

Fabio Bassi, Head of Cross Asset Strategy

Meera Chandan, Co-Head of FX Strategy

Samantha Azzarello, Head of Content Strategy

 

This episode was recorded on March 31st and April 1st, 2026.

This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5237997-0, https://www.jpmm.com/research/content/GPS-5245032-0, https://www.jpmm.com/research/content/GPS-5238010-0, https://www.jpmm.com/research/content/GPS-5239048-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 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.

EM Fixed Income: Still waiting for the conflict to pass over

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

This podcast was recorded on 31 March 2026.

© 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.

Global Commodities: Timing the Global Impact

The conflict in the Middle East is approaching its one-month mark. This week, markets were forced to pair off two opposing forces: deteriorating fundamentals with anticipated shortages in Asia on one side and increased rhetoric about a potential ceasefire on the other.  For now, it is unclear which one comes first. In this episode, we discuss the timeline of oil shortages across the globe, as well as explain what is happening with gold.

Speakers: 

Natasha Kaneva, Head of Global Commodities Research

Greg Shearer, Head of Base and Precious Metals Strategy

 

This podcast was recorded on March 27, 2026.

 

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

https://www.jpmm.com/research/content/GPS-5245032-0, https://www.jpmm.com/research/content/GPS-5242637-0, https://www.jpmm.com/research/content/GPS-5243238-0, and https://www.jpmm.com/research/content/GPS-5241751-0 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.

Global FX - Feelin ‘22

This week, our Global FX Strategists navigate the FX macro implications of the ongoing US Iran conflict, as well as detailing the insights on FX vol markets and systematic FX strategies.

 

Speakers

James Nelligan

Ladislav Jankovic

Antonin Delair

 

 

This podcast was recorded on 27 March 2026.

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

https://www.jpmm.com/research/content/GPS-5245935-0  

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.

Global Commodities: What are the Markets Missing?

The war in the Middle East is reaching its three-week mark and commodities markets show no signs of easing. On the contrary, attacks on critical energy infrastructure have ramped up, while the remaining 3% of typical Hormuz traffic has shifted into Iranian waters. Elsewhere, Asia is beginning to show signs of demand destruction amid exploding products prices. In this episode, we summarize the week’s developments and highlight what the markets are missing in gas, oil and metals.  

 

Speakers: 

Natasha Kaneva, Head of Global Commodities Research

Greg Shearer, Head of Base and Precious Metals Strategy

Otar Dgebuadze, European Natural Gas

 

This podcast was recorded on March 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-5240805-0, https://www.jpmm.com/research/content/GPS-5239325-0, https://www.jpmm.com/research/content/GPS-5237992-0, https://www.jpmm.com/research/content/GPS-5235564-0, https://www.jpmm.com/research/content/GPS-5236328-0, https://www.jpmm.com/research/content/GPS-5236737-0, and https://www.jpmm.com/research/content/GPS-5234608-0 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.