At Any Rate

EM Fixed Income: The fog of war

Jonny Goulden and Saad Siddiqui discuss the impact of the major escalation in the Russia/Ukraine conflict for Emerging Market assets.

This podcast was recorded on February 24, 2022.

This communication is provided for information purposes only. Institutional clients can view the related report at www.jpmm.com/research/content/GPS-4014479-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2022 JPMorgan Chase & Co. All rights reserved.

Global Rates: BoE QT: Taking the plunge on asset sales

J.P. Morgan research analysts (Francis Diamond and Allan Monks) discuss their thoughts on BoE QT and in particular potential gilt asset sales. They discuss the policy drivers and possible size of QT sales as well as thoughts around implications for UK rate markets

 

This podcast was recorded on 24 February 2022.

This communication is provided for information purposes only. Institutional clients can view the related report at www.jpmm.com/research/content/GPS-4013981-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2022 JPMorgan Chase & Co. All rights reserved.

 

Global Commodities: The world is short commodities. China is not. Introducing the Global Commodities Inventory Monitor.

Natasha Kaneva is joined by Tracey Allen to introduce and discuss our commodities inventory monitor. Global commodity inventories have contracted sharply over the past six months. While tradeable commodity stocks are critically low, it is important to acknowledge the abundance of available inventories in leading commodity consumer and importer China, to draw upon as required, which influences global import demand.  

 

This podcast was recorded on 18 February 2022.

This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4008477-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2022 JPMorgan Chase & Co. All rights reserved.

EM Fixed Income: EM local yield curves in a flattening world

Jonny Goulden and Saad Siddiqui discuss the outlook for EM local yield curves in the face of relentless flattening pressures and a withdrawal of global monetary accommodation. In particular, some yield curves are very flat and inverted even at the short ends, raising questions of whether this is warranted.

This podcast was recorded on February 17, 2022.

This communication is provided for information purposes only. Institutional clients can view the related report at www.jpmm.com/research/content/GPS-4007102-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2022 JPMorgan Chase & Co. All rights reserved.

Global FX: Central banks and FX: Take a hike

Paul Meggyesi and Meera Chandan from JPM FX Strategy discuss the relevance of the ECB’s hawkish pivot and other central bank development for the foreign exchange markets.

 

This podcast was recorded 14 February 2022.

This communication is provided for information purposes only. Institutional clients can view the related report at www.jpmm.com/research/content/GPS-4001150-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2022 JPMorgan Chase & Co. All rights reserved.

Global Rates: Scandinavia: As dovish as the Riksbank could get

We discuss our views on Riksbank and Norges bank; how long can the Riksbank resist hikes while how many hikes will the Norges bank deliver this year. We also discuss how our central bank and global views translates in SEK and NOK currency and interest rate markets.

 

This podcast was recorded February 14, 2022.

This communication is provided for information purposes only. Institutional clients can view the related report at www.jpmm.com/research/content/GPS-3999144-0 , www.jpmm.com/research/content/GPS-3999236-0  , www.jpmm.com/research/content/GPS-4001150-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2022 JPMorgan Chase & Co. All rights reserved.

Commodities Focus: The macro view on metals

Natasha Kaneva is joined by Gregory Shearer to discuss how two strong macroeconomic data prints this week (US CPI and China’s credit growth) influence our views across base and precious metals prices.

This podcast was recorded on February 11, 2022.
This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures. © 2021 JPMorgan Chase & Co. All rights reserved.

At Any Rate: ESG Perspectives - Adding up to Net Zero

2021 was characterized by strong catalysts for climate change and the energy crunch has highlighted the urgency to accelerate progress. In this episode, Joyce Chang (Chair of Global Research) presents the latest J.P. Morgan Perspectives report on ESG 2022: Energy Crunch Challenges Net Zero Transition, Gloria Kim (Head of Index Research and co-lead for ESG Research) shares the latest developments on ESG integration into indices, Stella Y. Xu (Strategic Research) discusses the cost of decarbonization and climate innovation, and Bill Peterson (Equity Research) talks about the future of electric vehicles. 

Speakers

Joyce Chang, Chair of Global Research

Gloria Kim, Global Index Research

Stella Y. Xu, Strategic Research

Bill Peterson, Transportation and Fuel Transformation

 

This podcast was recorded on Feb 4, 2022.

This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-3952574-0 and https://www.jpmm.com/research/content/GPS-3986461-0.pdf  for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2022 J.P. Morgan Chase & Co. All rights reserved.

Global Rates: Hawks in charge

Featured in this podcast: Fabio Bassi, Aditya Chordia, Francis Diamond and Khagendra Gupta. ECB took a decisive shift in its reaction function this week opening the door to a 2022 policy rate lift-off. OIS market is now pricing depo rates to be around 0% by the end of this year.  The BoE has now hiked consecutively in December and February and we expect them to hike again in March with more to come in 2022.  In this podcast, we discuss our views on the Euro area and UK interest rate markets.

This podcast was recorded on February 4, 2022.

This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures. © 2022 JPMorgan Chase & Co. All rights reserved.

Global Commodities: A Cry for Shale: Outlook for US oil and natural gas production

Natasha Kaneva is joined by Shikha Chaturvedi and Ted Hall to discuss the role of US supply in the global oil and natural gas markets. Demand in both the global oil and natural gas markets has performed exceptionally and, after more than a year of disciplined spending and restrained production growth, the US oil and gas upstream community appears to be poised for a ramp up in activity and supply. The Permian Basin plays a key role in this acceleration, but rampant growth in the region is not a foregone conclusion. The oil and natural gas supply dynamics are far more complicated in today’s world of decarbonization than they were in 2018.

This podcast was recorded on February 4, 2022.

This communication is provided for information purposes only. Institutional clients can view the related report at www.jpmm.com/research/content/GPS-3989057-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2022 JPMorgan Chase & Co. All rights reserved.