At Any Rate

J.P. Morgan Research

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.

  1. HACE 2 DÍAS

    US Rates: Yield curve bull flattens ahead of September FOMC

    US Rates strategists Phoebe White and Ipek Ozil reflect on the drivers of this week’s bull flattening move and discuss views ahead of next week’s FOMC meeting and the September corporate tax day.   Speakers Phoebe White, Head of US Inflation Strategy Ipek Ozil, Head of US Interest Rate Derivatives Strategy   This podcast was recorded on Sept 12, 2025. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5080506-0 https://www.jpmm.com/research/content/GPS-5076988-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 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.

    11 min

  2. HACE 2 DÍAS

    Global FX: Previewing central bank event risk for FX

    This week, our Global FX Strategists touch on the latest developments in CNY, and preview a loaded central bank week for currencies.    Speakers Meera Chandan, Global FX Strategy Arindam Sandilya, Global FX Strategy Patrick Locke, Global FX Strategy James Nelligan, Global FX Strategy   This podcast was recorded on Sept 12, 2025. This communication is provided for information purposes only. Institutional clients can view the related report at  https://www.jpmm.com/research/content/GPS-5079822-0  for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 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.

    28 min

  3. HACE 2 DÍAS

    Global Rates: ECB and BoE meetings, French spreads and Dutch indexation

    In this podcast Francis Diamond, Aditya Chordia and Khagendra Gupta discuss the Euro market post the September ECB meeting, French spreads following the appointment of a new PM and the upcoming BoE meeting.   Speakers: Francis Diamond, Head of European Rates Strategy Aditya Chordia, Rates Strategy Khagendra Gupta, Rates Strategy   This podcast was recorded on 12 September 2025. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5076241-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 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.

    20 min

  4. HACE 2 DÍAS

    Global Commodities: Beware the Ides of September

    We revisit the five conditions outlined in June that are necessary for crude oil prices to start reflecting the expected year-end weakness, and suggest that September could be a turning point for the oil market. Global oil inventories built, but the rise in OECD stocks has been modest by comparison. In response, both Brent and WTI curves have flattened out and turned into a ‘smile.’ Refining margins and runs surged in the third quarter, supporting a rebuilding of global product inventories, though stocks in certain regions and products remain below their five-year averages. As a result, refining margins have eased from their previous stratospheric highs, yet continue to hold up well.   Speaker: Natasha Kaneva, Head of Global Commodities Research   This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5078020-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 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.

    14 min

  5. HACE 3 DÍAS

    Emerging Markets Outlook and Strategy for September 2025

    Jonny Goulden, Anezka Christovova and Nora Szentivanyi discuss the latest market developments and their impacts for the EM fixed income asset class.   This podcast was recorded on 11 September 2025. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5072575-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 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.

    15 min

  6. 5 SEP

    Global FX and Rates: Yield curve steepening, payrolls and FX hedge ratios

    Meera Chandan, Francis Diamond, Patrick Locke and Octavia Popescu discuss the drivers of yield curve steepening across DM markets, FX implications of fiscal differentiation/ US payrolls and the latest developments in FX hedge ratios.   Speakers Meera Chandan, Global FX Strategy Francis Diamond, Global Rates Patrick Locke, Global FX Strategy Octavia Popescu, Global FX Strategy   This podcast was recorded on 5 September 2025. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5073426-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 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.

    19 min

  7. 5 SEP

    Global Commodities: Risk premium out, storage premium in

    Oil prices have been trading at a premium to fair value over the last two months with Brent’s outperformance driven not by geopolitical factors but rather by an lopsided build in global inventories,  with China accounting for two-thirds of the increase. While OECD inventories remain the primary driver in our pricing model, only 25% of this year’s global stock build has entered OECD storage, compared to the historical average of 40%, creating a valuation challenge. Mathematically, lower OECD intake raises Brent’s fair value, even as global stocks build, resulting in a storage premium. Looking ahead to 2H25, the key questions are how much spare storage capacity China has—currently about 600 million barrels—and whether China will use excess crude to ramp up processing and export more refined products. For now, stock builds are likely to continue outside price-setting Western markets, and despite higher refinery runs, Chinese product exports remain below last year’s levels as domestic inventories are replenished. Still, given the market’s move toward a sizable surplus and ongoing uncertainty around both the scale and drivers of China’s stock build, we are maintaining our current price forecasts.   Speaker:   Natasha Kaneva, Head of Global Commodities Research   This podcast was recorded on September 5, 2025. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5066258-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 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.

    14 min

  8. 4 SEP

    EM Fixed Income: Wake me up when September starts

    Jonny Goulden, Anezka Christovova and Ben Ramsey discuss the post-summer investment environment for EM and thoughts around tomorrow's payrolls scenarios. This podcast was recorded on 04 September 2025. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4117650-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 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.

    25 min
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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.

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  • Canal
    J.P. Morgan Research
  • Creador
    J.P. Morgan Global Research
  • Años de actividad
    2019 - 2025
  • Episodios
    100
  • Clasificación
    Apto
  • Copyright
    © Copyright 2021 All rights reserved.
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    At Any Rate

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