At Any Rate

Global Economics, Rates and FX: Scandinavia - Diverging outlooks

Morten Lund, Khagendra Gupta, and James Nelligan discuss their recently published Scandi Monthly outlook. They explain our latest views on the diverging economic outlook in Scandinavia and its impact on rates and FX markets.

 

This podcast was recorded on 28 September 2023.

This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4520080-0  for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.

Global Rates - Evolution of demand for Euro area government bonds

Elisabetta Ferrara and Aditya Chordia discuss their recently published Global government bond activity chart pack outlining our latest views on the evolution of demand for Euro area government bonds.

 

This podcast was recorded on September 27, 2023.

This communication is provided for information purposes only.  Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4515185-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.

Global FX: Rates divergence to sustain dollar strength

Arindam Sandilya, James Nelligan and Patrick Locke discuss the outlook for currencies after a heavy week of DM central bank meetings.

 

Speakers:  Arindam Sandilya, James Nelligan & Patrick Locke

 

This podcast was recorded on 22 September 2023.

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

http://www.jpmm.com/research/content/GPS-4515282-0

for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.

 

Global Commodities: Bullish oil cues begin to exhaust even as Russia temporarily bans motor fuel exports

After reaching our target of $90 in September, further price gains may be limited as we believe most bullish cues—both macro and micro—for the market have been exhausted for now. Our end-year target remains $86/bbl, while acknowledging that the path to this target can take different shapes. Relative to July, macro sentiment in September might be close to an inflection as the focus shifts to higher-for-longer US rates and sticky inflation. With pump prices surging and a seasonal travel peak behind us, oil demand risks are shifting to the downside and the support of China’s pent-up demand recovery is likely behind us. Russian crude oil exports rebounded by more than twice than expected in September and fuel exports booked prior to the ban continue to flow while China’s oil product exports are also rising. Oil positioning is no longer short. Our view remains that sharp inventory draws in 3Q23 will transition into a slight build during the final four months of the year. Preliminary stock observations suggest a build in global oil inventories in the first week of September.  

Speaker
Natasha Kaneva, Head of Global Commodities Research 

This podcast was recorded on 22 September 2023.

This communication is provided for information purposes only. Institutional clients can view the related report https://www.jpmm.com/research/content/GPS-4499993-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.

Global Rates - European inflation markets, oil won’t boil breakevens

Francis Diamond and Frida Infante discuss their recently published Monthly Inflation Outlook outlining our latest views on European and UK inflation.

 

This podcast was recorded on 22 September 2023.

This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4484727-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.

Global Rates: BoJ, Fed and BoE meetings and read across to European rate markets

Fabio Bassi and Francis Diamond discuss views on the BoE meeting and potential market impacts as well as any read across to European markets from the Fed and BoJ next week.

 

This podcast was recorded on 15 September 2023.

This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4514473-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.

Global FX - FX views going into G10 central bank Superweek

The FX strategy team discusses FX implications of the latest ECB outcome, as well as the upcoming Fed, BoJ and European central bank meetings. 

 

Speakers
Meera Chandan,  Global FX Strategy

Patrick Locke, Global FX Strategy

Katsuhiro Oshima, Japan Macro Research

James Nelligan, Global FX Strategy

 

This podcast was recorded on 15 September 2023

This communication is provided for information purposes only. Institutional clients can view the related report https://www.jpmm.com/research/content/GPS-4513289-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.

 

Global Rates: Scandinavia monthly interest rate outlook: The final step?

Khagendra Gupta and Matteo Mamprin discuss their recently published Scandinavia Monthly Interest Rate Outlook outlining their views on the Swedish and Norwegian Interest Rates markets.

 

This podcast was recorded on 12 September 2023.

This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4506279-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.

Global FX : Take-aways for US rates and FX pre- ECB and Fed

Meera Chandan and Jay Barry discuss the implications of US resilience on US rates and FX markets heading into the ECB and Fed September  meetings.

This podcast was recorded on 11 September 2023.

This communication is provided for information purposes only. Institutional clients can view the related report at http://www.jpmm.com/research/content/GPS-4509235-0 , http://www.jpmm.com/research/content/GPS-4509511-0 , http://www.jpmm.com/research/content/GPS-4506527-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.

 

Global Rates - Euro rate markets - ECB to hike or skip in September?

Francis Diamond and Aditya Chordia discuss thoughts on the upcoming ECB meeting in September and potential implications for Euro area rate markets and intra-EMU spreads.

 

This podcast was recorded on 08 September 2023.

This communication is provided for information purposes only. Institutional clients can view the related report at http://www.jpmm.com/research/content/GPS-4509538-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.