At Any Rate

J.P. Morgan Research
At Any Rate

Analysts from J.P. Morgan’s Research team take a closer look at the stories behind some of the biggest trends, themes and developments in markets today.

  1. 2 DAYS AGO

    Global Commodities: The biggest pushback

    Having marketed our 2025/2026 Oil Outlook over the last couple weeks, we address the feedback and questions we received from our clients. To recap, Brent crude oil is on track to average $80 per barrel in 2024, which is $3 below our projections from last June. We expect the price to decline to $73 in 2025, remaining largely consistent with our 2024 Outlook published last November, before slipping to $61 in 2026. Surprisingly, our demand outlook did not face significant pushback; however, there was considerable disagreement regarding our supply forecasts, especially concerning production levels in Brazil and the US. Additionally, our perspectives on Iran positioned us as outliers compared to the broader market consensus. Notably, there were no strong opinions expressed regarding the outlook for 2026.   SpeakersNatasha Kaneva, Head of Global Commodities Research    This podcast was recorded on December 20, 2024. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4869906-0 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.

    13 min

  2. 2 DAYS AGO

    Global FX: USD ends 2024 with a bang

    Arindam Sandilya and Octavia Popescu discuss the outlook for currencies following a busy week of central bank meetings. Speakers:Arindam Sandilya, Global FX StrategyOctavia Popescu, Global FX Strategy This podcast was recorded on 20 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-4870676-0 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.

    15 min

  3. 2 DAYS AGO

    Global Rates: Hawkish cuts and dovish holds

    J.P. Morgan’s Francis Diamond and Jay Barry discuss the varied outcomes of this week’s BoE and Fed meetings, and their implications for DM rates markets over the near term. Speakers: Jay Barry, Fixed Income Strategy Francis Diamond, Rates Strategy This podcast was recorded on 20 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-4872382-0, https://www.jpmm.com/research/content/GPS-4871565-0, https://www.jpmm.com/research/content/GPS-4870758-0, 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.

    23 min

  4. 3 DAYS AGO

    EM Fixed Income: 'Tis the Season for Volatility

    Jonny Goulden and Saad Siddiqui discuss the latest market developments and their impacts for the EM fixed income asset class. This podcast was recorded on 19 December 2024. © 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.

    19 min

  5. 13 DEC

    Speadbites: Food for Credit Market Thought as We Head Into the Holidays

    Spreadbites is a new monthly podcast and video series where we discuss key trends in credit markets. Stephen Dulake, Global Head of Spreads Product Research, and Samantha Azzarello, Head of Content Strategy, are joined by Daniel Lamy, Head of European Credit Strategy Research and Nelson Jantzen, High-yield bonds and leveraged loans analyst to unpack the latest developments and 2025 outlook for credit market.   Speakers: Stephen Dulake, Global Head of Spreads Product Research Daniel Lamy, Head of European Credit Strategy Research Nelson Jantzen, High-Yield Bonds and Leveraged Loans Analyst Samantha Azzarello, Head of Content Strategy   This podcast was recorded on December 12, 2024 This communication is provided for information purposes only. Institutional clients can view the related report at: https://www.jpmm.com/research/content/GPS-4844761-0,  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.

    22 min

  6. 13 DEC

    Global FX: Central Bank Central

    The Global FX Strategy team discuss this week’s key events and market moves, while looking ahead to next week’s economic calendar. Speakers:James Nelligan, Global FX StrategyPatrick Locke, Global FX StrategyArindam Sandilya, Global FX Strategy This podcast was recorded on 13 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-4865721-0 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.

    19 min

  7. 6 DEC

    Global Commodities: 2025 Outlook: bullish on gold for third year; supply-constrained base metals offer better value than oversupplied oil

    The BCOM Index is projected to deliver a flat return in 2024 and is expected to remain relatively stable in 2025, as declines in energy are offset by further price increases in metals and agriculture. Food and energy components have accounted for 35% of the decline in the headline U.S. CPI print this year, and commodities are anticipated to continue supporting disinflationary trends in 2025. We maintain our multi-year bullish outlook on gold for the third consecutive year and anticipate stronger gains in silver and platinum. Industrial metals have moved to the second position among our most preferred sectors, and we hold a positive view on agricultural commodities relative to the forward curves. We remain neutral on U.S. natural gas, while our perspective on oil has shifted from neutral to outright bearish. Speakers:   Natasha Kaneva, Head of Global Commodities Research Shikha Chaturvedi, Head of Global Natural Gas Research Tracey Allen, Head of Agricultural Commodities Research Gregory Shearer, Head of Base and Precious Metal Research     This podcast was recorded on 6 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-4853405-0 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.

    23 min

  8. 6 DEC

    Global FX: Central banks back in focus for FX next week

    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.

    16 min
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About

Analysts from J.P. Morgan’s Research team take a closer look at the stories behind some of the biggest trends, themes and developments in markets today.

Information

  • Channel
    J.P. Morgan Research
  • Creator
    J.P. Morgan Global Research
  • Years Active
    2019 - 2024
  • Episodes
    100
  • Rating
    Clean
  • Copyright
    © Copyright 2021 All rights reserved.
  • Show Website
    At Any Rate

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