Making Sense

J.P. Morgan

“Making Sense,” the podcast channel from J.P. Morgan’s Commercial & Investment Bank, brings you views and analysis from the Investment Banking, Markets and Research businesses. In each episode, experts discuss the latest market outlooks, trends and developments impacting our complex global economy. Subscribe now for insights that will help you navigate the world we live in.

  1. 1d ago

    Sponsors, spreads and stress testing: Navigating 2026’s rate reset

    In volatile markets, trade-offs sharpen: pay for certainty now, or preserve flexibility for later. In this episode of Making Sense, Ben Berkey from the corporate derivatives franchise talks with Brian Tramontozzi, head of North American Leveraged Finance Capital Markets, and Kim Hernas, global head of Sponsor Private Side Sales, to discuss how leveraged finance and private markets are weighing these trade-offs in a higher-for-longer rate environment. They discuss how higher base yields are affecting leveraged loan and high-yield markets, and what spread behavior across rating tiers may be signaling. They also explore the evolving sponsor toolkit — back leverage and beyond — and how sponsors are reassessing holding periods, liquidity needs and risk management.    This episode was recorded on October 13, 2026.     This material was prepared by certain personnel of the investment banking group of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide and not the firm’s research department. It is for informational purposes only, is not intended as an offer or solicitation for the purchase, sale or tender of any financial instrument and does not constitute a commitment, undertaking, offer or solicitation by any JPMorgan Chase entity to extend or arrange credit or provide any other products or services to any person or entity.    © 2026 JPMorgan Chase & Company. All rights reserved.

  2. 4d ago

    The evolution of hedge fund performance: From enhancer to diversifier

    How is the role of hedge funds evolving? In this episode of Making Sense, John Schlegel, head of the Global Data Assets and Alpha Group for Prime Financial Services, sits down with Kumar Panja, head of the Capital Advisory Group for EMEA, to unpack what they’re seeing across hedge funds in 2026. From regional outperformance to the strategies attracting fresh capital, they explore how institutional allocators increasingly frame hedge funds as portfolio diversifiers, not simply return enhancers. They look at the debate around leverage and crowding, as well as the growing trend toward “investor innovation” using portfolio leverage and custom baskets to manage exposures. They also touch on how current macro dynamics relate to hedge fund positioning.   This episode was recorded on October 1, 2026.    The podcast's views do not necessarily reflect those of J.P. Morgan Chase & Co or its affiliates (together “J.P. Morgan) and are not from J.P. Morgan’s Research Department. They do not constitute recommendations or offers to buy or sell securities. Intended for institutional and professional investors, not retail use, it is for informational purposes only. Products and services mentioned may not suit all investors or be available in all jurisdictions. J.P. Morgan may make markets and trade in discussed securities and asset classes. Visit www.jpmorgan.com/disclosures/salesandtradingdisclaimer for more disclaimers and regulatory disclosures. External speakers' opinions are personal and not J.P. Morgan's views. © 2026 JPMorgan Chase & Company. All rights reserved.

  3. Oct 23 ·  Video

    How modern payments drive growth and resilience

    Payments decisions now influence growth, liquidity, and risk — often as much as traditional finance levers. In this episode of Making Sense, co-heads of J.P. Morgan Global Payments Max Neukirchen and Umar Farooq explain how payments became a revenue-enabling capability — and what “trust at scale” requires when clients expect instant, seamless experiences. They cover the move toward real-time rails, the operational demands of always-on infrastructure and the new fraud landscape where threats accelerate with speed. They also detail how data and AI-driven controls help safeguard transactions without adding friction. Looking forward, they discuss intelligent payments and embedded finance, and how blockchain and tokenization — including Kinexys — could modernize cross-border settlement and expand the window for global money movement beyond market hours.    This episode was recorded on August 24, 2026.  JP Morgan and third parties referenced in this recording have not entered into a legal partnership to provide the services described above. Third party trademarks, brand names, and descriptions of products and services referenced in this recording are provided by the respective third party. JP Morgan is not liable or responsible for such trademarks, brand names, descriptions of products, companies, and/or services. JP Morgan may generate profit from the use of any services products provided by third parties. Nothing in this recording shall be taken as an endorsement of any third party or advice on the suitability of the third party services for the client. You shall make an independent determination for selection of the services provided by the third parties. Neither JP Morgan nor its affiliates shall be liable to you for any loss or liability suffered by you from the use of the third party services.   The views, opinions, estimates and strategies expressed in this recording are those of the respective individual contributors, authors or speakers, and may differ from those of JPMorganChase, or its employees and affiliates. Any market and/or economic commentary in this recording in no way constitutes JPMorganChase research and should not be treated as such. Further, the views expressed in this recording may differ from those contained in JPMorganChase research reports. The content in this recording have been obtained from sources deemed to reliable, but JPMorganChase makes no representation or warranty as to its accuracy or completeness. In no event shall JPMorganChase nor any of its directors , officers, employees or agents be liable for any use of, for any decision made or action taken in reliance upon, or for any inaccuracies or errors in or omissions from, this recording.   The information contained herein has been provided solely for informational purposes and does not constitute an offer, solicitation, advice, or recommendation to make any investment decisions or purchase any financial instruments and may not be construed as such. Any future capabilities of mobility payment systems are under development. Features and timelines are subject to change at the bank’s sole discretion. Copyright 2026 JP Morgan Chase & Co. All rights reserved. JP Morgan Chase Bank, NA, member FDIC. Deposits held in non-US branches are not FDIC insured. Non-deposit products are not FDIC insured.   The statements herein are confidential and proprietary and not intended to be legally binding. Not all products and services are available in all geographical areas. Visit jpmorgan.com/paymentsdisclosure for further disclosures and disclaimers related to this content.   © 2026 JPMorgan Chase & Co. All rights reserved. JPMorgan Chase Bank, N.A. Member FDIC. Deposits held in non-U.S. branches, are not FDIC insured. Non-deposit products are not FDIC insured.

  4. Oct 20

    One Year In: Advancing Economic Security and Resiliency

    One year of advancing economic security and resiliency. And we're just getting started. As the Security and Resiliency Initiative marks its first anniversary, Doug Petno, co-president of JPMorganChase and CEO of the Commercial & Investment Bank, and Jay Horine, global head of the Security and Resiliency Initiative, reflect on the progress made and priorities ahead. This conversation kicks off a new video series featuring business and industry leaders from across the initiative, sharing their perspectives on the challenges, opportunities and investments shaping a more resilient future.   Learn More: https://www.jpmorgan.com/insights/security-and-resiliency-initiative/investments-into-us-economic-security   This episode was recorded on October 6, 2026.   This material was prepared by certain personnel at the Investment Banking Group of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide, and not the firm's research department. It is for informational purposes only. It is not intended as an offer or solicitation for the purchase, sale, or tender of any financial instrument and does not constitute a commitment, undertaking offer, or solicitation by any JP Morgan Chase entity to extend or arrange credit or provide any other products or services to any person or entity. Copyright 2026, JPMorgan Chase & Co., all rights reserved.

  5. Oct 13

    Blackstone on hedge funds: Why multi-strats are back

    Multi-strategy hedge funds are drawing fresh attention as investors reassess traditional 60/40 portfolios amid higher stock–bond correlations. In this second conversation with Blackstone, Kumar Panja, EMEA head of Capital Advisory Group at J.P. Morgan, sits down with Joe Dowling, global head of Blackstone Multi‑Asset Investing business (BXMA), and Riad Abrahams head of Strategy, Risk and Quant Analytics in BXMA, to unpack what’s driving multi‑strat growth—and how allocators are using these strategies as a potential fixed income substitute. They discuss how leading multi‑strat platforms are built (talent, technology and risk management), the trade‑offs investors debate most, and where innovation is heading, from external SMAs to expanding opportunity sets and the increasing role of data and AI. This episode was recorded on June 26, 2026. The podcast’s views do not necessarily reflect those of J.P. Morgan Chase & Co. or its affiliates (together “J.P. Morgan’) and are not from J.P. Morgan’s Research Department. They do not constitute recommendations or offers to buy or sell securities. Intended for institutional and professional investors, not retail use,  it is for informational purposes only. Products and services mentioned may not suit all investors or be available in all jurisdictions. The information contained in this podcast shall not form the primary basis of any investment decision. It is the user’s responsibility to independently confirm the information and to obtain any other information deemed relevant to any investment decision. J.P. Morgan makes no representation or warranty (express or implied) regarding the fairness, accuracy, fitness for purpose, correctness or completeness of the statements, opinions, estimates, conclusions and other information contained in this podcast and J.P. Morgan accepts no responsibility whatsoever for any loss, direct or indirect, arising in connection therewith. J.P. Morgan may make markets and trade in discussed securities and asset classes. Visit www.jpmorgan.com/disclosures/salesandtradingdisclaimer for more disclaimers and regulatory disclosures. External speakers’ opinions are personal and not J.P. Morgan’s views. @2026 JPMorgan Chase & Company. All rights reserved.

  6. Oct 2

    September jobs report: "When the risks are two-sided, you're in good position"

    Payrolls came in lower than expected in the September jobs report, but topline numbers may not tell the whole story. In this episode of Making Sense, Alexa Hanelin of the Rates team sits down with Michael Feroli, J.P. Morgan's chief U.S. economist, to give a read on the print, unearth what's behind the softness and find where the data may be more encouraging than expected. They also discuss how this report might affect the path of Fed rate cuts, digest recent commentary from FOMC officials and offer a view to what might affect the forecast for one more rate hike with inflation seeming to cool and midterms on the horizon. This episode was recorded on October 2, 2026.   This communication has been prepared based upon information from sources believed to be reliable, but J.P. Morgan does not warrant its completeness or accuracy except with respect to any disclosures relative to J.P. Morgan and/or its affiliates and an analyst's involvement with any company (or security, other financial product or other asset class) that may be the subject of this communication. Any opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice. Past performance is not indicative of future results. This communication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. J.P. Morgan Research does not provide individually tailored investment advice. Any opinions and recommendations herein do not take into account individual circumstances, objectives, or needs and are not intended as recommendations of particular securities, financial instruments or strategies. You must make your own independent decisions regarding any securities, financial instruments or strategies mentioned or related to the information herein. Periodic updates may be provided on companies, issuers or industries based on specific developments or announcements, market conditions or any other publicly available information. However, J.P. Morgan may be restricted from updating information contained in this communication for regulatory or other reasons. This communication may not be redistributed or retransmitted, in whole or in part, or in any form or manner, without the express written consent of J.P. Morgan. Any unauthorized use or disclosure is prohibited. Receipt and review of this information constitutes your agreement not to redistribute or retransmit the contents and information contained in this communication without first obtaining express permission from an authorized officer of J.P. Morgan. © 2026, JPMorganChase & Co. All rights reserved.

  7. Sep 22

    Why tokenization is gaining momentum

    Tokenization and digital assets are moving from experimentation to real-world implementation, from hype to measurable outcomes. In this episode of Making Sense, Hannah Elson, global head of Custody and EMEA head of Securities Services, sits down with Oli Harris, global head of Kinexys by J.P. Morgan, to discuss what’s changed over the last 18 months: clearer regulation, growing institutional adoption and the rise of credible “on-chain money” that enables true delivery-versus-payment settlement. They explore where clients are investing first, including 24/7 cross-border payments, liquidity and collateral efficiency and tokenized money market funds, as well as the hurdles still to solve, such as interoperability, privacy and governance and user experience.   If you’d like to learn more about Kinexys by J.P. Morgan, visit Kinexys: Enterprise Bank-Led Blockchain Solutions.   This episode was recorded on September 1, 2026.    This podcast is intended for institutional clients only. The views expressed in this podcast may not necessarily reflect the views of J.P. Morgan Chase & Co, and its affiliates, together J.P. Morgan, and do not constitute research or recommendation advice or an offer or a solicitation to buy or sell any security or financial instrument. Referenced products and services in this podcast may not be suitable for you, and may not be available in all jurisdictions. J.P. Morgan may make markets and trade as principal in securities and other asset classes and financial products that may have been discussed. For additional disclaimers and regulatory disclosures, please visit www.jpmorgan.com/disclosures. © 2026 JPMorgan Chase & Company. All rights reserved.

  8. Sep 17

    The Fed hikes rates. What happens now?

    For the first time in three years, the overnight federal funds rate is going up, as the Federal Open Market Committee (FOMC) voted to raise rates at its September meeting. In this episode of Making Sense, Samantha Azzarello, head of Content Strategy for Global Research, sits down with Michael Feroli, chief U.S. economist at J.P. Morgan, to discuss what went into the FOMC's decision, what to make of chair Kevin Warsh's press conference and how the unanimous Committee vote affects concerns over Fed independence. They also discuss whether rates might be considered restrictive, whether we're at the start of a hiking cycle and what to watch from here.   This episode was recorded on September 17, 2026.   This communication has been prepared based upon information from sources believed to be reliable, but J.P. Morgan does not warrant its completeness or accuracy except with respect to any disclosures relative to J.P. Morgan and/or its affiliates and an analyst's involvement with any company (or security, other financial product or other asset class) that may be the subject of this communication. Any opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice. Past performance is not indicative of future results. This communication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. J.P. Morgan Research does not provide individually tailored investment advice. Any opinions and recommendations herein do not take into account individual circumstances, objectives, or needs and are not intended as recommendations of particular securities, financial instruments or strategies. You must make your own independent decisions regarding any securities, financial instruments or strategies mentioned or related to the information herein. Periodic updates may be provided on companies, issuers or industries based on specific developments or announcements, market conditions or any other publicly available information. However, J.P. Morgan may be restricted from updating information contained in this communication for regulatory or other reasons. This communication may not be redistributed or retransmitted, in whole or in part, or in any form or manner, without the express written consent of J.P. Morgan. Any unauthorized use or disclosure is prohibited. Receipt and review of this information constitutes your agreement not to redistribute or retransmit the contents and information contained in this communication without first obtaining express permission from an authorized officer of J.P. Morgan. © 2026, JPMorganChase & Co. All rights reserved.

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About

“Making Sense,” the podcast channel from J.P. Morgan’s Commercial & Investment Bank, brings you views and analysis from the Investment Banking, Markets and Research businesses. In each episode, experts discuss the latest market outlooks, trends and developments impacting our complex global economy. Subscribe now for insights that will help you navigate the world we live in.

Information

  • Creator
    J.P. Morgan
  • Years Active
    2019 - 2026
  • Episodes
    300
  • Rating
    Clean
  • Copyright
    © Copyright 2025 All rights reserved.
  • Show Website
    Making Sense

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