At Any Rate

Global FX: Bullish Beta, Bullish Dollar

19 Jun 2026

Contributed by Lukas

We discuss our mid-year FX outlook in a rare long-format presentation.   Speakers Meera Chandan, Global FX Strategy Arindam Sandilya, Global FX Strat...

Global FX: 2H Vol Outlook: Carry the Day, Vol the Tail

19 Jun 2026

Contributed by Lukas

Ladislav Jankovic, Arindam Sandilya and Sanjana Shinde discuss the outlook for FX volatility in 2H26. This podcast was recorded on 18 June 2026. This...

Global Rates: Scandi and BoE Central Bank wrap up, UK politics (again)

19 Jun 2026

Contributed by Lukas

In this podcast, Francis Diamond and Khagendra Gupta discuss the Riskbank, Norges Bank and BoE meetings this week and also talk (again) about the late...

Global Commodities: Seeing the Invisible

18 Jun 2026

Contributed by Lukas

Despite the signed Memorandum of Understanding and eased prices, tightness persists across commodities most affected by the closure of the Strait of H...

Global Rates: Inflation Markets in Europe, the UK and the US

18 Jun 2026

Contributed by Lukas

In this podcast, Frida Infante and Harry Downie discuss the latest inflation data and breakeven markets across the euro area, the UK and the U.S. in t...

In Focus: G7 Summit

18 Jun 2026

Contributed by Lukas

Welcome to J.P. Morgan Global Research's podcast, In Focus, where we explore timely and thematic topics with insights from across Global Research. In ...

Emerging Markets Outlook and Strategy for 2H26

15 Jun 2026

Contributed by Lukas

Luis Oganes, Nora Szentivanyi, Anezka Christovova & Ben Ramsey discuss the outlook for Emerging Markets for 2H26. This podcast was recorded on 15 ...

Global Rates: European Rate Markets – looking ahead over 2H26

12 Jun 2026

Contributed by Lukas

In this podcast Francis Diamond, Khagendra Gupta and Aditya Chordia discuss European rate market views for the second half of this year.   This podca...

Global Commodities: A Perfect Storm

12 Jun 2026

Contributed by Lukas

On one hand, we see increased oil tanker flows through the Strait of Hormuz. On the other hand, gas markets have had less luck getting LNG through the...

Global FX: Central banks take centre stage

12 Jun 2026

Contributed by Lukas

Arindam Sandilya, Junya Tanase, Patrick Locke and Octavia Popescu discuss the global FX outlook ahead of a heavy calendar of central bank meetings nex...

Global FX & Economics: UK Outlook, GBP and SEK

11 Jun 2026

Contributed by Lukas

We review the UK outlook in terms of economics and politics, as well as the ramifications for GBP, and we conclude with other views of note in the Eur...

US Rates - Another Volatile Week in Rates Markets

05 Jun 2026

Contributed by Lukas

Jay Barry and Ipek Ozil discuss the latest developments in rates markets and outlook for rates into the remainder of the year. Speakers: Jay Barry, He...

Global Commodities: Is that it?

05 Jun 2026

Contributed by Lukas

If anything stands out in energy markets now, it is that prices have become remarkably sanguine despite an ongoing supply shock. Although market confi...

Global FX: Payrolls postmortem, ECB/ BoC watch, euro roundup

05 Jun 2026

Contributed by Lukas

Meera Chandan, Patrick Locke and James Nelligan unpack the latest payrolls report, emphasizing U.S. exceptionalism, and preview the upcoming central b...

Global Rates: ECB, cross-market views and UK politics update

05 Jun 2026

Contributed by Lukas

In this podcast Francis Diamond, Khagendra Gupta and Aditya Chordia discuss the upcoming ECB meeting and implications for Euro area rate markets, cros...

Global Commodities: Can the world live with 9% less oil?

29 May 2026

Contributed by Lukas

We spent last week in China, and the most striking takeaway from our meetings was not simply that oil demand has fallen, it was that it did so abruptl...

Global FX: Bearish EUR factors intensify, USD decouples from real rates, and an update on low FX vols

29 May 2026

Contributed by Lukas

This week, our Global FX Strategists, Patrick Locke, Meera Chandan, Arindam Sandilya and Ladislav Jankovic look at the dollar’s undershoot vs real r...

EM Fixed Income: EM resilience amid renewed USD strength and idiosyncratic pitfalls

28 May 2026

Contributed by Lukas

Anezka Christovova, Ben Ramsey and Nishant Poojary discuss the latest market developments and their impacts for the EM fixed income asset class. This ...

EM Fixed Income: EM resilience amid renewed USD strength and idiosyncratic pitfalls

28 May 2026

Contributed by Lukas

Anezka Christovova, Ben Ramsey and Nishant Poojary discuss the latest market developments and their impacts for the EM fixed income asset class. This ...

Global FX: Broader impacts from the dollar bid

22 May 2026

Contributed by Lukas

We run through some of the broader considerations from the recent dollar bid including the JPY intervention outlook.   This podcast was recorded on 2...

Global Commodities: What’s New?

22 May 2026

Contributed by Lukas

As Iran and the US continue to work towards a deal, some commodities markets have undergone structural changes. Asian LNG, for example, has been tradi...

EM Fixed Income: Assessing EM amid the global repricing of rates

20 May 2026

Contributed by Lukas

Anezka Christovova, Ben Ramsey and Michael Harrison discuss the latest market developments and their impacts for the EM fixed income asset class.   T...

Asia Cross Asset: Taking stock of the North Asian equity surge

18 May 2026

Contributed by Lukas

Featured in this podcast are Arindam Sandilya and Mixo Das take stock of the North Asian equity surge, as Korea and Taiwan extend AI-led rallies amid ...

Global FX: EUR-USD divergences, systematic signals, sterling struggles

15 May 2026

Contributed by Lukas

Meera Chandan, Patrick Locke and Antonin Delair discuss why the top-down view is becoming more supportive of the dollar, new forecast profile for EUR/...

Global Commodities: Infrastructure 101

15 May 2026

Contributed by Lukas

As commodity analysts try to interpret the headlines on the Iran conflict, focus is increasingly turning towards potential recovery timeframes. Infras...

Global Rates: Analyzing Eurex and US futures roll and cross currency bases

15 May 2026

Contributed by Lukas

In this podcast Khagendra Gupta and Ipek Ozil discuss the drivers of US and Eurex futures roll and their outlook for Jun26/Sep26 bond futures rollover...

Global Rates: Energy priced and UK politics drive Bunds and Gilt yields higher

15 May 2026

Contributed by Lukas

In this podcast Francis Diamond and Aditya Chordia discuss Euro area and UK rate markets given the moves in oil prices and this week’s political eve...

EM Fixed Income: Inflation pressures and idiosyncratic EMEA EM politics

14 May 2026

Contributed by Lukas

Anezka Christovova, Ben Ramsey and Michael Harrison discuss the latest market developments and their impacts for the EM fixed income asset class. This...

In Focus: Frontier AI

14 May 2026

Contributed by Lukas

In this episode, we explore frontier AI’s role in the cybersecurity landscape with our Industry and Policy thematics analysts in Global Research. We...

Global Rates – And now my fears, they come to me in threes

08 May 2026

Contributed by Lukas

J.P. Morgan Strategists discuss the impact to the April employment report on FX and rates markets and delve into Treasury’s May refunding announceme...

Global Commodities: An Inventory Detour

08 May 2026

Contributed by Lukas

While markets await Iran’s response to a US proposal to end the war and reopen the Strait, oil inventories are being activated at unprecedented rate...

Global FX: Yentervention and other FX policy stories

08 May 2026

Contributed by Lukas

JPMorgan’s FX strategists discuss the outlook for currencies in the wake of the Japanese MOF’s FX intervention, ahead of President Trump and Secre...

EM Fixed Income: Parsing peace talks and payrolls

07 May 2026

Contributed by Lukas

Anezka Christovova, Ben Ramsey and Tania Escobedo Jacob discuss the latest market developments and their impacts for the EM fixed income asset class. ...

In Focus: Equity & Credit Update on AI CapEx

04 May 2026

Contributed by Lukas

Welcome to another episode of In Focus, where we explore timely and thematic topics with insights from across J.P. Morgan Global Research. In today's ...

US Rates - I won’t see you next time

01 May 2026

Contributed by Lukas

The Fed has spoken, now what? Our US Rates strategists break down the April FOMC decision and what it means for markets, plus a preview of next week's...

Global Commodities: It’s Simple Math

01 May 2026

Contributed by Lukas

With two months of the Middle East conflict behind us, there is little certainty in the world of commodities. One thing is clear, however: the supply ...

Global FX: Yen intervention, re-assessing USD bearish view, central bank rundown

01 May 2026

Contributed by Lukas

In this week’s At Any Rate Podcast, our Global FX Strategists discuss 1) this week’s major moves in JPY, 2) how the USD view is evolving, and 3) r...

EM Fixed Income: To every thing there is a season

30 Apr 2026

Contributed by Lukas

Jonny Goulden, Anezka Christovova and Ben Ramsey discuss the latest market developments and their impacts for the EM fixed income asset class. This po...

Global Commodities: Running the Numbers on Gas

24 Apr 2026

Contributed by Lukas

Markets reacted sharply to Iran allowing commercial vessels to go through the Strait of Hormuz. Despite this signal, last shipments from the Gulf have...

Global Rates: Central banks likely to wait-and-see against a backdrop of ongoing Middle-East uncertainty

24 Apr 2026

Contributed by Lukas

In this podcast Francis Diamond, Jay Barry and Khagendra upcoming central bank meetings and US, Euro area and UK rate markets against the backdrop of ...

Global FX: De-dollarization, GBP deep-dive, DM central banks

24 Apr 2026

Contributed by Lukas

This week, our global FX strategists discuss de-dollarization, a deep-dive into GBP, and upcoming DM central banks. Speakers Meera Chandan Global FX S...

EM Fixed Income: Ceasefire implications and Washington takeaways

23 Apr 2026

Contributed by Lukas

Jonny Goulden, Anezka Christovova and Ben Ramsey discuss the latest market developments and their impacts for the EM fixed income asset class. This po...

Global FX: Cease-fire, the dollar, DM/EM FX impact, IMF round-up

17 Apr 2026

Contributed by Lukas

This week, our global FX & EM strategists discuss the outlook for the dollar and the renewed case for carry across regions. We also discuss FX-rel...

Global Commodities: Prices Get Relief

17 Apr 2026

Contributed by Lukas

Markets reacted sharply to Iran allowing commercial vessels to go through the Strait of Hormuz. Despite this signal, last shipments from the Gulf have...

Global FX: The beginning of the end?

10 Apr 2026

Contributed by Lukas

Arindam Sandilya and James Nelligan discuss FX markets in the aftermath of US - Iran ceasefire. This podcast was recorded on 10 April 2026. This comm...

US Rates - GSIB and Basel III Endgame Update

09 Apr 2026

Contributed by Lukas

Teresa Ho and Ipek Ozil discuss the latest updates on GSIB and Basel III Endgame and their impact on rates markets.   Speakers: Teresa Ho, Head of US...

EM Fixed Income: Will EM markets keep trading Iran conflict de-escalation?

09 Apr 2026

Contributed by Lukas

Jonny Goulden, Anezka Christovova and Ben Ramsey discuss the latest market developments and their impacts for the EM fixed income asset class. This po...

Global Commodities: A Month of Disruption

02 Apr 2026

Contributed by Lukas

There has been no rest for commodities in the last 34 days. This week, Houthis have formally entered the conflict, while metals and energy infrastruct...

Global FX: Wary of complacency in FX

02 Apr 2026

Contributed by Lukas

We run through the state of current macro markets as this week’s geopolitics has unfolded, detailing our view about potentially complacent FX market...

In Focus: Middle East Conflict

01 Apr 2026

Contributed by Lukas

Welcome to JPMorganChase Global Research’s new In Focus podcast, where we explore timely, thematic topics with insights from across Global Research....

EM Fixed Income: Still waiting for the conflict to pass over

31 Mar 2026

Contributed by Lukas

Jonny Goulden, Anezka Christovova and Ben Ramsey discuss the latest market developments and their impacts for the EM fixed income asset class. This po...

Global Commodities: Timing the Global Impact

27 Mar 2026

Contributed by Lukas

The conflict in the Middle East is approaching its one-month mark. This week, markets were forced to pair off two opposing forces: deteriorating funda...

Global FX - Feelin ‘22

27 Mar 2026

Contributed by Lukas

This week, our Global FX Strategists navigate the FX macro implications of the ongoing US Iran conflict, as well as detailing the insights on FX vol m...

Global Commodities: What are the Markets Missing?

20 Mar 2026

Contributed by Lukas

The war in the Middle East is reaching its three-week mark and commodities markets show no signs of easing. On the contrary, attacks on critical energ...

Global FX: Oil turns up the heat on central banks & FX

20 Mar 2026

Contributed by Lukas

This week, our Global FX Strategists unpack the ongoing spillover of the US-Iran conflict through to the dollar, as well as this week’s hawkish cent...

EM Fixed Income: Middle East conflict week 3 damage assessment for EM

20 Mar 2026

Contributed by Lukas

Jonny Goulden, Anezka Christovova and Ben Ramsey discuss the latest market developments and their impacts for the EM fixed income asset class. This po...

Global Rates: Global DM Swap Spread Outlook

20 Mar 2026

Contributed by Lukas

In this podcast Khagendra Gupta, Ipek Ozil, Francis Diamond, Takafumi Yamawaki, and Ben Jarman discuss the main drivers of DM swap spreads.   This po...

Global Rates: Where next for CB and rates as the Middle-East conflict persists?

13 Mar 2026

Contributed by Lukas

In this podcast Francis Diamond, Jay Barry and Aditya Chordia discuss the impact of the ongoing Middle-East conflict on US, Euro area and UK rate mark...

Global Commodities: Mind the Metals

13 Mar 2026

Contributed by Lukas

It has been two weeks since the start of the conflict in the Middle East and supply-side issues remain the top concern for commodity markets. In addit...

Global FX: Winds of change for the dollar

13 Mar 2026

Contributed by Lukas

We discuss recent developments in energy prices and discuss how that is impacting the dollar outlook; Energy importers are particularly vulnerable. We...

EM Fixed Income: Assessing the situation and path ahead for EM in Week 2 of the Middle East conflict

12 Mar 2026

Contributed by Lukas

Jonny Goulden, Anezka Christovova and Ben Ramsey discuss the latest market developments and their impacts for the EM fixed income asset class. This po...

US Credit: Key Takeaways: J.P. Morgan Global Leveraged Finance Conference 2026

12 Mar 2026

Contributed by Lukas

This podcast was recorded on March 11, 2026. This communication is provided for information purposes only. Institutional clients can view the related ...

Global Commodities: Oil and Gas Rocked by Conflict

06 Mar 2026

Contributed by Lukas

On Saturday, February 28, Israel and the US started a wave of attacks on Iran, rocking the energy markets. As of Thursday, commercial traffic through ...

Global FX: The best escalation and recovery candidates

06 Mar 2026

Contributed by Lukas

We discuss the top down dollar/ FX view following developments in Iran and outline the best escalation and recovery candidates in DM and EM.    Spea...

EM Fixed Income: Taking stock one week into the Middle East conflict

06 Mar 2026

Contributed by Lukas

Jonny Goulden and Anezka Christovova discuss the latest market developments and their impacts for the EM fixed income asset class. This podcast was re...

Global FX: The dollar & AI, CNY, IEEPA, euro bloc

27 Feb 2026

Contributed by Lukas

We discuss recent developments around the CNY, GBP, SEK and the dollar. Speakers Meera Chandan, Global FX Strategy Tiffany Wang, Emerging Markets Stra...

European Rate Markets: Eurobonds, by-elections and the spring statement

27 Feb 2026

Contributed by Lukas

In this podcast Francis Diamond and Aditya Chordia discuss the topic of Eurobonds as well as UK rate markets following the recent by-election and ahea...

Global Commodities: Gas Finds a Tighter Balance

27 Feb 2026

Contributed by Lukas

Metals and oil dominated the market narrative in the last few weeks. Natural gas, however, has also been dynamic, having gone through its own period o...

EM Fixed Income: Risks around a positive base case

25 Feb 2026

Contributed by Lukas

Jonny Goulden, Anezka Christovova and Ben Ramsey discuss the latest market developments and their impacts for the EM fixed income asset class. This po...

Global FX: Interrogating the optimistic baseline

20 Feb 2026

Contributed by Lukas

Arindam Sandilya, Junya Tanase, James Nelligan and Patrick Locke stress test the cyclically constructive, dollar bearish baseline narrative in light o...

Global Commodities: Going Against the Grain on Oil

20 Feb 2026

Contributed by Lukas

Last week we visited the International Energy Week in London and found the market to be rather optimistic, making a bullish case for oil. Respectfully...

Global Commodities: Are Commodities the Market’s Crystal Ball?

13 Feb 2026

Contributed by Lukas

Sharp selloffs in metals and elevated oil prices beg the question - is commodity volatility a harbinger of things to come, or merely a correction? Whi...

Global FX: How much is too much?

13 Feb 2026

Contributed by Lukas

Arindam Sandilya, James Nelligan and Patrick Locke discuss the FX outlook against the backdrop of US equity stress and underperformance of US stocks r...

European Rates: Scandinavian rate outlook – a long winter hibernation

13 Feb 2026

Contributed by Lukas

In this podcast Francis Diamond and Frida Infante discuss the outlook for Sweden and Norway rate markets.   This podcast was recorded on 13 February ...

EM Fixed Income: Getting fully back on the EM horse

13 Feb 2026

Contributed by Lukas

Jonny Goulden, Anezka Christovova and Ben Ramsey discuss the latest market developments and their impacts for the EM fixed income asset class.   This...

Global Rates: Analysing Eurex and US futures roll

13 Feb 2026

Contributed by Lukas

In this podcast Khagendra Gupta and Ipek Ozil discuss the drivers of US and Eurex futures roll and their outlook for Mar26/Jun26 bond futures rollover...

Global FX: RBA, JP elections, euro/APAC rotation, dovish BoE, US data

06 Feb 2026

Contributed by Lukas

The FX team discusses a variety of topics: the euro bloc/ APAC FX rotation, RBA hawkish pivot, scenarios around upcoming JP elections, the dovish BoE ...

Global Commodities: Deconstructing the Metal Mania

06 Feb 2026

Contributed by Lukas

Metal mania returns. In this episode, Natasha Kaneva is joined by Greg Shearer, the Head of Base and Precious Metals at JPMorgan. We decompose the rec...

European Rates: ECB and BoE February meetings, skinny carry in Euro area, increased UK political noise

06 Feb 2026

Contributed by Lukas

In this podcast Francis Diamond, Aditya Chordia and Khagendra Gupta discuss the ECB and BoE monetary policy meetings and implications for rate markets...

US Rates: Crypto market structure bill in limbo

05 Feb 2026

Contributed by Lukas

US Rates Strategists Teresa Ho and Molly Herckis discuss the latest developments in the digital cash space. Updates include a stall in Congress passin...

EM Fixed Income: A rest is as good as a change

05 Feb 2026

Contributed by Lukas

Jonny Goulden, Anezka Christovova and Ben Ramsey discuss the latest market developments and their impacts for the EM fixed income asset class.   This...

Global Commodities: A week of commodity whiplash

31 Jan 2026

Contributed by Lukas

In this episode, JPMorgan analysts digest yet another week of market volatility in commodities. The metals hit records on Thursday, but only to backtr...

Global FX and Commodities: The dollar, metals, APAC and vols

30 Jan 2026

Contributed by Lukas

We assess the outlook for metals and the dollar after a parabolic week. Special focus on APAC.   Speakers:  Meera Chandan, Global FX Strategy Gregor...

EM Fixed Income: Navigating choppier seas with a temperamental compass

30 Jan 2026

Contributed by Lukas

Jonny Goulden, Arindam Sandilya and Anezka Christovova discuss the latest market developments and their impacts for the EM fixed income asset class.  ...

At Any Rate: US Rates - Should we talk about the weather?

29 Jan 2026

Contributed by Lukas

Jay Barry and Phoebe White discuss the outlook for US rates in the wake of the FOMC meeting and preview the February refunding announcement.   Speake...

Global FX: Bearish USD vs. EM FX risk appetite index, G10 cyclicals and the Fed

23 Jan 2026

Contributed by Lukas

Macro signals are highly procyclical but technical signals turn cautious – we debate what matters more. Plus USD/CNY breaks 7.0, Scandis break highe...

European Rates – Less keen on carry, UK political noise but no signal

23 Jan 2026

Contributed by Lukas

In this podcast Francis Diamond and Aditya Chordia discuss some key themes in European rate markets for January, revisiting the theme of limited selec...

Global Rates: Cross currency basis 1H26 outlook

23 Jan 2026

Contributed by Lukas

In this podcast Khagendra Gupta and Ipek Ozil discuss the drivers of €STR/SOFR cross currency base.   Speakers:  Khagendra Gupta - Head of Europea...

EM Fixed Income: A technical signal amid all the noise

22 Jan 2026

Contributed by Lukas

Jonny Goulden, Anezka Christovova and Ben Ramsey discuss the latest market developments and their impacts for the EM fixed income asset class. This po...

Global Rates - Monthly Inflation Outlook

22 Jan 2026

Contributed by Lukas

US Rates strategist Phoebe White and European Rates strategist Frida Infante discuss the August inflation data and their outlook for inflation markets...

Global Rates: 2026 Global government issuance outlook

16 Jan 2026

Contributed by Lukas

J.P. Morgan’s Global Rates Strategy team discusses the outlook for DM government bond issuance in 2026.   Speakers Jay Barry, Head of Global Rates ...

Global FX: FX in the political crosshairs

16 Jan 2026

Contributed by Lukas

Arindam Sandilya, Patrick Locke, and Junya Tanase discuss the outlook for currency markets in the context of increased anxiety around Fed independence...

Global Commodities: Oil, gas, and metals kick off a volatile year

16 Jan 2026

Contributed by Lukas

It has been a busy start of the year for commodities markets.  In oil, market attention has shifted from Venezuela to Iran and the risk of more than ...

EM Fixed Income: Sticking to the knitting

15 Jan 2026

Contributed by Lukas

Jonny Goulden, Anezka Christovova and Ben Ramsey discuss the latest market developments and their impacts for the EM fixed income asset class. This po...

At Any Rate: The GSEs and their $200bn Grand Spread Experiment

15 Jan 2026

Contributed by Lukas

Ipek Ozil, Nick Maciunas and Nate Rosenbaum discuss GSEs buying Agency MBS in size following President Trump’s social media post and the potential i...

Global FX: A highly procyclical start

09 Jan 2026

Contributed by Lukas

Meera Chandan, James Nelligan, Anezka Christovova and Patrick Locke discuss opportunities in DM and EM FX as 2026 kicks off. This podcast was recorded...

European Rates: January supply and technical drivers in Euro area rates, UK rates update

09 Jan 2026

Contributed by Lukas

In this podcast Francis Diamond, Aditya Chordia and Khagendra Gupta discuss some key themes in European rate markets for January, focusing on Euro are...

Global Commodities: Venezuela – implications on commodities

09 Jan 2026

Contributed by Lukas

Recent events in Venezuela, specifically a US military operation on January 3, 2026, that captured Nicolás Maduro, so far have had limited immediate ...

Global FX: US data, DM central banks, year-end observations

19 Dec 2025

Contributed by Lukas

In our last FX podcast of the year, we discuss the main questions and highlights from our year-ahead outlook meetings as well as take-aways from DM ce...

At Any Rate: US Rates - Keep the liquidity flowing

18 Dec 2025

Contributed by Lukas

US Rates Strategists Teresa Ho, Ipek Ozil, and Phoebe White discuss the implications of the delayed economic data, Fed chair selection process, and th...