At Any Rate

EM Fixed Income: Facts & fiction of FX reserves diversification

Jonny Goulden and Saad Siddiqui discuss the role of the USD as a dominant currency, the changing nature of EM foreign reserves, and the impacts of the US debt ceiling discussion on EM fixed income assets.

Speakers
Jonny Goulden, Emerging Markets Strategist

Saad Siddiqui, Emerging Markets Strategist

This podcast was recorded on April 27, 2023.

This communication is provided for information purposes only. Institutional clients can view the related report at www.jpmm.com/research/content/GPS-4396295-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.

Global FX EM — Mind the gap

Meera Chandan and Saad Siddiqui discuss the outlook for FX given the gap end of cycle narrative and better than expected activity data.

 

This podcast was recorded on 21 April 2023.

This communication is provided for information purposes only. Institutional clients can view the related report at http://www.jpmm.com/research/content/GPS-4380075-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2022 JPMorgan Chase & Co. All rights reserved.

Russia’s oil output has likely declined 250 kbd in March and 500 kbd so far in April

Speakers:
Natasha Kaneva, Head of Global Oil and Commodities Research

 

This communication is provided for information purposes only. Institutional clients can view the related reports at https://www.jpmm.com/research/content/GPS-4389047-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.  

EM Fixed Income: United we sell-off, divided we retrace

Jonny Goulden and Saad Siddiqui discuss the latest drivers for EM currencies, a potential mis-pricing of front-end rates, and structural issues for distressed sovereigns.

 

Speakers
Jonny Goulden, Emerging Markets Strategist

Saad Siddiqui, Emerging Markets Strategist 

 

This podcast was recorded on 20 April 2023.

This communication is provided for information purposes only. Institutional clients can view the related report https://www.jpmm.com/research/content/GPS-4391474-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.

EM Fixed Income: IMF Spring Meetings Update Episode 3 — EM Countries in Crisis

Speakers: Jonny Goulden, Saad Siddiqui, Nicolaie Alexandru-Chidesciuc, Ben Ramsey

Tune in as our Emerging Markets Research Analysts analyze country specific dynamics and potential risks for  countries across EM, including Tunisia, Ukraine, Zambia, Egypt, Turkey, Sri Lanka, Pakistan, Ecuador and Argentina.

This podcast was recorded on 17 April 2023.

This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.

EM Fixed Income: IMF Spring Meetings Update Episode 2 — China and it’s Spillover

Speakers: Jahangir Aziz, Grace Ng, Sin Beng Ong

Listen to our Emerging Markets Economists as they summarize China’s reopening, PBOC and interest rate policies, and the potential impacts of geopolitical risks stemming from the region.

This podcast was recorded on 17 April 2023.

This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.

EM Fixed Income: IMF Spring Meetings Update Episode 1 – EM Overview and Key Takeaways

Speakers: Luis Oganes, Saad Siddiqui, Cassiana Fernandez, Nicolaie Alexandru-Chidesciuc

Join our research analysts as they discuss the state of EM, global monetary policy and idiosyncratic factors affecting some countries.

This podcast was recorded on 17 April 2023.

This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.

Global FX and Europe Credit Research — Axes of differentiation between US and Europe stresses

Meera Chandan and Roberto Henriques discuss the outlook for European banking sector and FX in the aftermath of US banking stress. 

This podcast was recorded on 14 April 2023

This communication is provided for information purposes only. Institutional clients can view the related report at www.jpmm.com/research/content/GPS-4386463-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.

Global Commodities: When the Fed pauses, oil rallies

Our economists continue to look for a 25bp hike in May, followed by an extensive pause. Any pause by the Fed could mark a turn in what has been one of the most aggressive hiking cycles in decades. With oil market micro fundamentals turning positive, a shift in US monetary policy could be an important signal for the oil markets. Looking at Brent oil returns during 3, 6, 12, and up to 30 months after the Fed ends its hiking cycle, buying the last hike has proven to be the correct strategy historically.

 

Speakers
Natasha Kaneva, Head of Global Oil and Commodities Research 

 

This podcast was recorded on 14 April 2023

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

https://www.jpmm.com/research/content/GPS-4381809-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.

Global Commodities: Brent at below $80 looks $5-7 oversold—what could act as a catalyst?

Oil experienced a bumpy ride in March as prices plunged mid-month on fears that weakness in the banking system could spark a full-blown recession.  Consequently, 1Q23 will likely close $3/bbl below our forecasted price of $85. Looking at the very near term, Brent at below $80 looks at least $5-7 oversold purely on fundamental reasons. What could act as a catalyst?

 

Speakers 
Natasha Kaneva, Head of Global Oil and Commodities Research

This podcast was recorded on Mar. 31, 2023.
 
This communication is provided for information purposes only. Institutional clients can view the related reports at https://www.jpmm.com/research/content/GPS-4370703-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.