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 Dec 06, 2024
Friday Dec 06, 2024
The Global FX Strategy team discusses FX implications from upcoming DM central bank decisions, including the ECB, SNB, BoC & RBA. They also parse the USD response to this week’s Nov US payrolls report.
Speakers
Meera Chandan, Global FX Strategy
James Nelligan, Global FX Strategy
Patrick Locke, Global FX Strategy
This podcast was recorded on 06 December 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4851138-0 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.
Wednesday Dec 04, 2024
Wednesday Dec 04, 2024
J.P. Morgan’s US Rates strategy team discusses their high-level themes from their recently published 2025 US Fixed Income Markets Outlook.
Speakers:
Jay Barry, Head of Global Rates Strategy
Srini Ramaswamy, Global Rates Derivatives Strategy
Teresa Ho, Head of US Short Duration Strategy
Phoebe White, Fixed Income Strategy
This podcast was recorded on 4 December, 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4849383-0 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.
Wednesday Nov 27, 2024
Wednesday Nov 27, 2024
In this podcast Morten Lund, Khagendra Gupta and Octavia Popescu discuss the outlook for the Scandinavian economies, rates, and FX over 2025.
This podcast was recorded on 27 November 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4855621-0 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.
Wednesday Nov 27, 2024
Wednesday Nov 27, 2024
Not for the faint hearted.
Speakers
Arindam Sandilya, Global FX Strategy
Ladislav Jankovic, Global FX Strategy
Juan Duran-Vara, Global FX Strategy
This podcast was recorded on 27 November 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4845566-0 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.
Wednesday Nov 27, 2024
Wednesday Nov 27, 2024
J.P. Morgan economists and strategists discuss the outlook for Emerging Markets in 2025, focusing also on the various channels in which the new US administration can impact EM economies and fixed income markets.
Speakers
Luis Oganes - Head of Global Macro Research
Jonny Goulden - Head of EM Fixed Income Strategy
Jahangir Aziz - Head of Emerging Market Economics Research
Nora Szentivanyi - Global Economist
Wednesday Nov 27, 2024
Wednesday Nov 27, 2024
The Global FX strategy team provides a round-up of the year-ahead outlook.
Speakers
Meera Chandan, Global FX Strategy
Arindam Sandilya, Global FX Strategy
Ben Jarman, Global FX Strategy
Junya Tanase, Global FX Strategy
Antonin Delair, Global FX Strategy
James Nelligan, Global FX Strategy
Patrick Locke, Global FX Strategy
This podcast was recorded on 27 November 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4851138-0 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.
Wednesday Nov 27, 2024
Wednesday Nov 27, 2024
In this podcast Francis Diamond, Aditya Chordia and Khagendra Gupta discuss the outlook for European rates markets over 2025.
This podcast was recorded on 26 November 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4849003-0 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 Nov 22, 2024
Friday Nov 22, 2024
President-elect Trump will return to the White House in January with a commitment to rapidly defeat inflation by lowering energy prices. Trump’s energy agenda presents downside risks to oil prices from deregulation and increased US production, while also posing upside risks by exerting pressure on Iran, Venezuela, and possibly Russia to limit their oil exports and revenues. But with US oil supply growth moderating and GCC countries unlikely to offset lost exports, any policies that might raise oil prices will likely defer to Trump’s key objective of maintaining low energy prices. Weak oil supply-demand fundamentals may, however, help Trump keep his promise to bring down oil prices. Our view on 2025 has remained largely unchanged over the past year: we look for a large 1.3 mbd surplus and an average Brent of $73, although we expect prices to close the year firmly below $70, with WTI at $64. In 2026, another year of large surpluses will drive Brent prices below $60 by year-end, with an average Brent forecast of $61 and WTI at $57.
Speaker:
Natasha Kaneva, Head of Global Commodities Research
This podcast was recorded on 22, November 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4840755-0 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 Nov 19, 2024
Tuesday Nov 19, 2024
Last month our team published “EM as an Asset Class Evolves and Diversifies,” an update of the EM as an Asset Class series that J.P. Morgan research has been producing over the past two decades. In the report we take a longer-term look at how the outlook for EM has shifted as the asset class has evolved. Within the report you can find our “EM Sovereign Credit Markets” section, which we review in this webinar. In short: sovereign debt levels have risen but without the wave of defaults that were feared after the pandemic, and credit ratings have now stabilized. In our section we analyze the cyclicality of EM sovereign credit spreads versus the more idiosyncratic nature of sovereign defaults; highlight the evolution of the EM sovereign debt architecture; update our analysis of external financing trends and debt dynamics; and we look into ownership of the asset class.
Speakers:
Ben Ramsey, Emerging Markets Research
Nishant Poojary, Emerging Markets Strategy
Gorka Lalaguna, Emerging Markets Strategy
Fariha Ahmmed, Emerging Markets Strategy
This podcast was recorded on 19, November 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4824425-0 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 Nov 15, 2024
Friday Nov 15, 2024
US Rates Strategist Phoebe White discusses her takeaways from the October CPI report, as well as the path ahead for US rates and inflation markets. October CPI showed broad-based strength, outside of some idiosyncratic weakness in core goods prices, and points to some stickiness in core services inflation, even before considering upside risks stemming from policy uncertainty. With Treasury valuations cheap and the Fed maintaining an easing bias, there is likely limited room for yields to rise further. TIPS breakevens are likely to outperform their historical beta to nominal yields in a rally.
Speaker:
Phoebe White, Head of US Inflation Strategy
This podcast was recorded on 15 November 2024.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4845562-0 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.