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
Friday Sep 08, 2023
Friday Sep 08, 2023
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 08 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-4506420-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.
Friday Sep 08, 2023
Friday Sep 08, 2023
Brent crude futures settled above $90 on Tuesday, for the first time this year. In the end, the extension of Saudi’s 1 mbd supply cut alongside Russia’s 300 kbd reduction in exports for an additional three months was needed to get the price there. Although we hold a constructive view on oil prices in the short term, we still don’t see oil prices breaching $100 in 2023, absent a major geopolitical event. As the market transitions from a large inventory draw in 3Q23, most visibly in the US, into a slight surplus in 4Q23 and 2024, prices should ease back toward the mid $80s. Both demand and supply will likely contribute to looser balances in the final quarter of the year, but the key to our lower price forecast is our outlook on the trajectory of demand in 4Q23. The softening in balances should be seen first in forward looking prices: in crude differentials for October loadings and softer structure at the front.
Speaker
Natasha Kaneva, Head of Global Commodities Research
This podcast was recorded on 8 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.
Tuesday Sep 05, 2023
Tuesday Sep 05, 2023
This week, Global FX Strategists James Nelligan & Patrick Locke revisit US exceptionalism, China spillover to DM and take stock of the US political landscape.
This podcast was recorded on 05 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-4504178-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.
Thursday Aug 31, 2023
Thursday Aug 31, 2023
Aditya Chordia and Francis Diamond discuss the latest themes and recommendations in Global SSA markets.
This podcast was recorded on 31 August 2023.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4502123-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.
Wednesday Aug 30, 2023
Wednesday Aug 30, 2023
Khagendra Gupta and Matteo Mamprin discuss the recent dynamics of the upcoming September 2023/December 2023 Eurex futures roll cycle.
This podcast was recorded on 30 August 2023.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4487200-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.
Wednesday Aug 30, 2023
Wednesday Aug 30, 2023
Srini Ramaswamy and Ipek Ozil discuss the themes in the US Rates and Derivatives markets and themes going forward.
This podcast was recorded on 29 August 2023.
This communication is provided for information purposes only. Institutional clients can view the related report https://www.jpmm.com/research/content/GPS-4494781-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.
Friday Aug 18, 2023
Friday Aug 18, 2023
Late-week official resistance can slow but should not upend the uptrend in USD/CNY. The euro has been resilient as real yields moved up the US, but is still overshooting and will not be immune if CNH weakness extends. USD/JPY likely to test 150 before MoF intervention.
Speakers:
Meera Chandan
Arindam Sandilya
Katsuhiro Oshima
This podcast was recorded on 18 August 2023.
This communication is provided for information purposes only. Institutional clients can view the related reports at
http://www.jpmm.com/research/content/GPS-4491146-0
for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.
Tuesday Aug 15, 2023
Tuesday Aug 15, 2023
Srini Ramaswamy and Ipek Ozil discuss the dynamics of the upcoming Treasury futures roll cycle.
SPEAKERS:
Srini Ramaswamy, Managing Director and Co-Head of US Rates Strategy
Ipek Ozil, Executive Director, U.S. Fixed Income Derivatives Research
This podcast was recorded on 15 August 2023
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4487168-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.
Friday Aug 11, 2023
Friday Aug 11, 2023
Meera Chandan, Ladislav Jankovic and Antonin Delair discuss the main themes in FX markets with focus on macro, systematic and derivatives sleeves.
This podcast was recorded on 11 August 2023.
This communication is provided for information purposes only. Institutional clients can view the related reports at
http://www.jpmm.com/research/content/GPS-4486479-0
http://www.jpmm.com/research/content/GPS-4481894-0
http://www.jpmm.com/research/content/GPS-4478190-0
for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.
Friday Aug 11, 2023
Friday Aug 11, 2023
On July 20, JP Morgan Commodities team recommended to raise allocation to commodities. Since then, commodities rallied but the move was driven by energy, while base metals moved sideways. BCOM Energy subindex surged 24% since mid-June and balances are pointing towards more upside in the near term. We see potential for US Henry Hub gas price to reach $3.30/MMBtu if a severe Australian LNG outage were to manifest alongside continued warmer weather forecast skew. We see Brent oil price hitting $90, or even above by September. But as the market transitions from a 3Q23 inventory draw into a slight surplus in 4Q23 and 2024, prices should ease back towards mid $80s.
Speakers:
Natasha Kaneva, Head of Global Commodities Research
Shikha Chaturvedi, Head of Global Gas Research
This podcast was recorded on Aug. 11, 2023.
This communication is provided for information purposes only. Institutional clients can view the related reports at https://www.jpmm.com/research/content/GPS-4483453-0, and https://www.jpmm.com/research/content/GPS-4484961-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.