Analysts from J.P. Morgan Global Research take a closer look at the stories behind some of the biggest trends, themes and developments in markets today.
Episodes
Tuesday Feb 13, 2024
Tuesday Feb 13, 2024
J.P. Morgan strategists and economists’ monthly discussion on the outlook for Emerging Markets fundamentals and markets.
Speakers:
Luis Oganes - Head of Global Macro Research
Jonny Goulden - Head of EM Fixed Income Strategy
Nora Szentivanyi - Global Economics
This podcast was recorded on 9 February 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4621172-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures.
© 2024 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.
Friday Feb 09, 2024
Friday Feb 09, 2024
We discuss market pricing of growing tariff risks and US exceptionalism as durable Dollar supports. CNY focus given newsflow around China equities. In the European space we opine on recent NOK and CHF-related developments.
Speakers:
James Nelligan, Global FX Strategy
Arindam Sandilya, Global FX Strategy
This podcast was recorded on 9 February 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4623391-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2024 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.
Friday Feb 09, 2024
Friday Feb 09, 2024
Speaker:
Natasha Kaneva, Head of Global Commodities Research
Our Brent outlook continues to project a tightening market with prices rising from here by another $10 by May with zero risk premium and a 400 kbd unwind of voluntary cuts. So how do we get there? Same as in the third quarter of last year, via a drop in inventories. On a global scale, the world’s onshore crude inventories sit at 4.4 billion barrels—a record low since the start of 2017, when Kpler began tracking the data. Incoming demand data suggest an improving rather than cooling global economy while OPEC+ crude exports have been declining.
This podcast was recorded on Feb. 9, 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4620490-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2024 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.
Friday Feb 02, 2024
Friday Feb 02, 2024
We discuss the FX and rates implications of from key US events this week: the Treasury refunding, the FOMC and the employment report.
Speakers:
Meera Chandan, Global FX Strategy
Jay Barry, US Rates Strategy
This podcast was recorded on 2 February 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4617599-0, https://www.jpmm.com/research/content/GPS-4618750-0, https://www.jpmm.com/research/content/GPS-4617514-0, https://www.jpmm.com/research/content/GPS-4619056-0, https://www.jpmm.com/research/content/GPS-4619849-0, for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2024 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.
Friday Feb 02, 2024
Friday Feb 02, 2024
Jonny Goulden and Saad Siddiqui discuss the latest market developments and their impacts for the EM fixed income asset class.
This podcast was recorded on 02 February 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4616636-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures.
© 2023 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.
Friday Feb 02, 2024
Friday Feb 02, 2024
Speakers:
Natasha Kaneva, Head of Global Commodities Research
Parsley Ong, Head of Asia Energy & Chemicals
We continue to project Brent oil reaching high $80s by May, with our constructive outlook relying heavily on our optimistic view on demand, especially China. Despite tepid economic growth momentum, Chinese oil consumption hit an all-time high of 16.03 mbd last year, delivering a 1.2 mbd growth vs 0.8 mbd expected at the start of 2023. The supporting factors that boosted oil demand growth in 2023 are fading, but there are few signs that China’s oil demand is slowing. We project the world’s top crude importer to consume an additional 530 kbd of oil in 2024, accounting for a third of the 1.5 mbd growth in global oil demand and its single largest source. Our constructive outlook on demand requires an increased call on refining output however China’s dominance in global refining activity growth will likely ease in 2024.
This podcast was recorded on Feb. 2, 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4614178-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2024 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.
Tuesday Jan 30, 2024
Tuesday Jan 30, 2024
Meera Chandan and Anezka Christovova discuss the ongoing global yield compression and implications for carry currencies.
Speakers
Meera Chandan, Global FX Strategy
Anezka Christovova, Emerging Markets Strategy
This podcast was recorded on 30 Jan 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4602355-0, https://www.jpmm.com/research/content/GPS-4557694-0, https://www.jpmm.com/research/content/GPS-4557696-0, https://www.jpmm.com/research/content/GPS-4566567-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2024 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.
Monday Jan 29, 2024
Monday Jan 29, 2024
Francis Diamond and Allan Monks discuss the upcoming February BoE meeting and views on UK rate markets. The BoE is widely expected to leave rates, but given the clear shift in inflation surprises and perceived risks since November, we believe the Bank will almost certainly make a dovish pivot that puts future easing higher up on the agenda than before. August is our current call, although its hard to argue too strongly against June. The BoE will not shut the door on a potential May cut, but we think it will also not want to encourage expectations for an easing that early. We keep a bullish duration view at the front end of the UK curve via longs in 1Yx1Y SONIA and money market curve flatteners.
This podcast was recorded on 26 January 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4614062-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures.
© 2024 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.
Friday Jan 26, 2024
Friday Jan 26, 2024
Rates strategist Jay Barry and Chief US economist Mike Feroli discuss the outlook for policy in the week ahead, including expectations for the FOMC meeting, the Treasury’s quarterly refunding announcement, and the implications for US rates markets.
This podcast was recorded on 26 January 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4611261-0, https://www.jpmm.com/research/content/GPS-4613934-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2024 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.
Friday Jan 26, 2024
Friday Jan 26, 2024
Meera Chandan, Arindam Sandilya, Patrick Locke and James Nelligan discuss recent policy developments in China and discuss the dovish tide that is envelopingall DM central bank ex-BoJ.
Speakers
Meera Chandan, Global FX Strategy
Arindam Sandilya, Global FX Strategy
Patrick Locke, Global FX Strategy
James Nelligan, Global FX Strategy
This podcast was recorded on 26 Jan 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4611445-0 and https://www.jpmm.com/research/content/GPS-4602355-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2024 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.