Nick Adragna (Global Head of Investment Grade & Macro Credit Trading) and Olivier “Caj” Cajfinger (Global Head of IG, Public Finance, and Co Head of Alternative Credit Sales) unpack the evolution of IG credit markets and how J.P. Morgan’s global franchise supports clients. They discuss the creation of unified IG and macro trading units, talent builds, and the surge in portfolio trading, e-trading and ETFs; plus innovations like Vida, J.P. Morgan Direct, and AI-driven analytics. Hear how cross-asset PT (muni, SPG, CLO) and the integration of IG private and alternative credit are reshaping client solutions and what’s ahead for 2026. This episode was recorded on February 25, 2026. The views expressed in this podcast may not necessarily reflect the views of JPMorganChase & 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. They are not issued by research, but are a solicitation under CFTC Rule 1.71. Reference 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 principle in securities and other asset classes and financial products that may have been discussed. The FICC market structure publications, or to one, newsletters mentioned in this podcast are available for J.P. Morgan clients. Please contact your J.P. Morgan sales representative should you wish to receive them. For additional disclaimers and regulatory disclosures, please visit www.jpmorgan.com/disclosures. Copyright 2026 JPMorganChase & Co. All rights reserved.

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