In this episode, John Schlegel, head of the Global Positioning Intelligence team at J.P. Morgan, is joined by Andrew Tyler, head of the Global Market Intelligence team, to discuss the changing macro landscape and its impact on markets. Together, they explore how the recent jobs report numbers, the inflationary impulse from U.S. tariffs and the fluctuating value of the U.S. dollar. Have these developments shaken investor confidence? And what’s in store for markets? This episode was recorded on August 4, 2025. 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”), they are not the product of J.P. Morgan’s Research Department and do not constitute a recommendation, advice, or an offer or a solicitation to buy or sell any security or financial instrument. This podcast is intended for institutional and professional investors only and is not intended for retail investor use, it is provided for information purposes only. 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/salesandtradingdisclaimer. For the avoidance of doubt, opinions expressed by any external speakers are the personal views of those speakers and do not represent the views of J.P. Morgan. © 2025 JPMorgan Chase & Company. All rights reserved.

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