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.
Episodes
Global FX & Economics: UK Outlook, GBP and SEK
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 European space, namely regarding the SEK.
Speakers
James Nelligan Global FX Strategy,
Allan Monks Chief UK Economist,
Octavia Popescu Global FX Strategy
This podcast was recorded on 10 June 2026.
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US Rates - Another Volatile Week in Rates Markets
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, Head of Global Rates Strategy
Ipek Ozil, Head of US Interest Rate Derivatives Strategy
This podcast was recorded on June 5, 2026.
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Global Commodities: Is that it?
If anything stands out in energy markets now, it is that prices have become remarkably sanguine despite an ongoing supply shock. Although market confidence and fundamentals have both contributed, our scenario analysis draws out less comfortable alternatives as the conflict drags on. In this episode, we discuss when a calm “Is that it?” can turn into a more apprehensive “What if this isn’t?”
Sp
Global FX: Payrolls postmortem, ECB/ BoC watch, euro roundup
Meera Chandan, Patrick Locke and James Nelligan unpack the latest payrolls report, emphasizing U.S. exceptionalism, and preview the upcoming central bank meetings.
This podcast was recorded on 05 June 2026.
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Global Rates: ECB, cross-market views and UK politics update
In this podcast Francis Diamond, Khagendra Gupta and Aditya Chordia discuss the upcoming ECB meeting and implications for Euro area rate markets, cross-market themes and provide an update on UK politics and the gilt market.
This podcast was recorded on 05 June 2026.
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Global Commodities: Can the world live with 9% less oil?
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 abruptly, unexpectedly, and with remarkably little visible disruption. In this episode, we run you through our observations and explain the structural oil demand shifts that we may see in the coming years.
Speaker:
Natasha Kaneva, Head of Global Commod
Global FX: Bearish EUR factors intensify, USD decouples from real rates, and an update on low FX vols
This week, our Global FX Strategists, Patrick Locke, Meera Chandan, Arindam Sandilya and Ladislav Jankovic look at the dollar’s undershoot vs real rates, the accumulation of bearish forces challenging EUR, developments around KRW & CNH, and the outlook for FX vols currently trading near historical lows.
This podcast was recorded on 29 May 2026.
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EM Fixed Income: EM resilience amid renewed USD strength and idiosyncratic pitfalls
Anezka Christovova, Ben Ramsey and Nishant Poojary discuss the latest market developments and their impacts for the EM fixed income asset class.
This podcast was recorded on 28th May 2026.
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Global FX: Broader impacts from the dollar bid
We run through some of the broader considerations from the recent dollar bid including the JPY intervention outlook.
This podcast was recorded on 22 May 2026.
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Global Commodities: What’s New?
As Iran and the US continue to work towards a deal, some commodities markets have undergone structural changes. Asian LNG, for example, has been trading at an elevated premium compared to European benchmarks, while precious metals have been sidelined in the short-term. In this episode, we present new forecast additions, as well as discuss our updated views on the trends we are observing.
Speaker
EM Fixed Income: Assessing EM amid the global repricing of rates
Anezka Christovova, Ben Ramsey and Michael Harrison discuss the latest market developments and their impacts for the EM fixed income asset class.
This podcast was recorded on 20 May 2026.
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Asia Cross Asset: Taking stock of the North Asian equity surge
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 improving monetization and shifting flows – assessing where the two markets may diverge and a readthrough to FX.
This podcast was recorded on May 18, 2026.
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Global FX: EUR-USD divergences, systematic signals, sterling struggles
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/USD, systematic signal take-aways for FX and GBP follow-through from political developments.
This podcast was recorded on 15 May 2026.
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Global Commodities: Infrastructure 101
As commodity analysts try to interpret the headlines on the Iran conflict, focus is increasingly turning towards potential recovery timeframes. Infrastructure, which was extensively damaged across the Middle East, plays a crucial role in this. Modern commodity markets are built on fragile supply chains and complex processing facilities, which require large investments and careful maintenance. In t
Global Rates: Analyzing Eurex and US futures roll and cross currency bases
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. They also discuss their outlook for the cross currency bases through the remainder of the year.
Speakers
Ipek Ozil, Head, U.S. Interest Rate Derivatives Strategy
Khagendra Gupta, Head, European Interest Rate Derivatives Strategy
This podcast wa
Global Rates: Energy priced and UK politics drive Bunds and Gilt yields higher
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 events in the UK.
This podcast was recorded on 15 May 2026.
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EM Fixed Income: Inflation pressures and idiosyncratic EMEA EM politics
Anezka Christovova, Ben Ramsey and Michael Harrison discuss the latest market developments and their impacts for the EM fixed income asset class.
This podcast was recorded on 14 May 2026.
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In Focus: Frontier AI
In this episode, we explore frontier AI’s role in the cybersecurity landscape with our Industry and Policy thematics analysts in Global Research. We discuss the evolving relationship between frontier AI models and cyber ecosystem, patchability in the space, global supply constraints, and what fighting AI with AI means in today's world.
Speakers:
Jahangir Aziz, Co-Head of Economic Research
Steve
Global Rates – And now my fears, they come to me in threes
J.P. Morgan Strategists discuss the impact to the April employment report on FX and rates markets and delve into Treasury’s May refunding announcement.
Speakers:
Jay Barry, Head of Global Rates Strategy
Meera Chandan, Co-Head of Global FX Strategy
This podcast was recorded on May 8, 2026.
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Global Commodities: An Inventory Detour
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 rates and provide a much-needed cushion for prices and consumption. Aside from oil, however, inventories play a crucial role for nearly all commodities. In this episode, we focus on the role of storage in gas and metals, putting it in the context of recen
Global FX: Yentervention and other FX policy stories
JPMorgan’s FX strategists discuss the outlook for currencies in the wake of the Japanese MOF’s FX intervention, ahead of President Trump and Secretary Bessent’s visit to Asia next week.
This podcast was recorded on 08 May 2026.
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EM Fixed Income: Parsing peace talks and payrolls
Anezka Christovova, Ben Ramsey and Tania Escobedo Jacob discuss the latest market developments and their impacts for the EM fixed income asset class.
This podcast was recorded on 07 May 2026.
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In Focus: Equity & Credit Update on AI CapEx
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 episode, we bring together equity and credit views to examine the AI CapEx theme, which has been a major driver of risk assets.
Speakers:
Bhupinder Singh, US Equity Strategist & Head of Thematic Research
Nathaniel Rosenbaum, Head of US High Gr
US Rates - I won’t see you next time
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 Treasury Quarterly Refunding Announcement.
Speakers:
Teresa Ho, Head, U.S. Short Duration Strategy
Ipek Ozil, Head of US Interest Rate Derivatives Strategy
Amanda Berke, U.S. Rates Strategy
This podcast was recorded on May 1, 2026.
This commun
Global Commodities: It’s Simple Math
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 shock is spreading. Although commodity markets are highly nuanced, understanding the magnitude of the core issues is a matter of simple arithmetic. In this episode, we break down the math on oil and metals.
Speakers:
Natasha Kaneva, Head of Global
Global FX: Yen intervention, re-assessing USD bearish view, central bank rundown
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) recent and upcoming central bank meetings impact FX outlooks.
Speakers:
Meera Chandan
Ben Jarman
Junya Tanase
James Nelligan
Patrick Locke
This podcast was recorded on 01 May 2026.
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EM Fixed Income: To every thing there is a season
Jonny Goulden, Anezka Christovova and Ben Ramsey discuss the latest market developments and their impacts for the EM fixed income asset class.
This podcast was recorded on 30 April 2026.
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Global Commodities: Running the Numbers on Gas
Markets reacted sharply to Iran allowing commercial vessels to go through the Strait of Hormuz. Despite this signal, last shipments from the Gulf have arrived across Europe, Asia and the US, while significant infrastructure shut-ins persist across the Middle East. With much uncertainty still in the air, in this episode we answer the market’s most pressing questions, as well as discuss the recent s
Global Rates: Central banks likely to wait-and-see against a backdrop of ongoing Middle-East uncertainty
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 the ongoing Middle-East conflict.
This podcast was recorded on 24 April 2026.
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Global FX: De-dollarization, GBP deep-dive, DM central banks
This week, our global FX strategists discuss de-dollarization, a deep-dive into GBP, and upcoming DM central banks.
Speakers
Meera Chandan Global FX Strategy,
James Nelligan Global FX Strategy,
Kunj Padh Global FX Strategy,
Junya Tanase Japan Markets Research
This podcast was recorded on 24 April 2026.
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EM Fixed Income: Ceasefire implications and Washington takeaways
Jonny Goulden, Anezka Christovova and Ben Ramsey discuss the latest market developments and their impacts for the EM fixed income asset class.
This podcast was recorded on 23 April 2026.
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Global FX: Cease-fire, the dollar, DM/EM FX impact, IMF round-up
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-relevant takeaways from the IMF/WB spring meetings.
This podcast was recorded on 17 April 2026.
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Global Commodities: Prices Get Relief
Markets reacted sharply to Iran allowing commercial vessels to go through the Strait of Hormuz. Despite this signal, last shipments from the Gulf have arrived across Europe, Asia and the US, while significant infrastructure shut-ins persist across the Middle East. With much uncertainty still in the air, in this episode we answer the market’s most pressing questions, as well as discuss the recent s
Global FX: The beginning of the end?
Arindam Sandilya and James Nelligan discuss FX markets in the aftermath of US - Iran ceasefire.
This podcast was recorded on 10 April 2026.
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US Rates - GSIB and Basel III Endgame Update
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 Short Duration Strategy
Ipek Ozil , Head of US Interest Rate Derivatives Strategy
This podcast was recorded on April 9, 2026.
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EM Fixed Income: Will EM markets keep trading Iran conflict de-escalation?
Jonny Goulden, Anezka Christovova and Ben Ramsey discuss the latest market developments and their impacts for the EM fixed income asset class.
This podcast was recorded on 09 April 2026.
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Global Commodities: A Month of Disruption
There has been no rest for commodities in the last 34 days. This week, Houthis have formally entered the conflict, while metals and energy infrastructure continued to be targeted by strikes. With an expanded geography of the war and no immediate off-ramp in sight, market volatility persists. In this episode, we discuss this week's updates and the month behind us.
Speakers:
Natasha Kaneva, Head
Global FX: Wary of complacency in FX
We run through the state of current macro markets as this week’s geopolitics has unfolded, detailing our view about potentially complacent FX markets in the face of cyclical risks. Our cross asset strategy colleague Jainik Mody also joins to discuss risks for EM equities.
Speakers:
James Nelligan
Jainik Mody, CFA
This podcast was recorded on 02 April 2026.
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In Focus: Middle East Conflict
Welcome to JPMorganChase Global Research’s new In Focus podcast, where we explore timely, thematic topics with insights from across Global Research. In today’s episode, we bring together cross-asset perspectives to examine the geopolitical and market ramifications of the Middle East conflict. We start with the commodity impact—including oil and gold—then discuss implications for global growth and
EM Fixed Income: Still waiting for the conflict to pass over
Jonny Goulden, Anezka Christovova and Ben Ramsey discuss the latest market developments and their impacts for the EM fixed income asset class.
This podcast was recorded on 31 March 2026.
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Global Commodities: Timing the Global Impact
The conflict in the Middle East is approaching its one-month mark. This week, markets were forced to pair off two opposing forces: deteriorating fundamentals with anticipated shortages in Asia on one side and increased rhetoric about a potential ceasefire on the other. For now, it is unclear which one comes first. In this episode, we discuss the timeline of oil shortages across the globe, as well
Global FX - Feelin ‘22
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 markets and systematic FX strategies.
Speakers
James Nelligan
Ladislav Jankovic
Antonin Delair
This podcast was recorded on 27 March 2026.
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Global Commodities: What are the Markets Missing?
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 energy infrastructure have ramped up, while the remaining 3% of typical Hormuz traffic has shifted into Iranian waters. Elsewhere, Asia is beginning to show signs of demand destruction amid exploding products prices. In this episode, we summarize the week
Global FX: Oil turns up the heat on central banks & FX
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 central bank meetings and whether hikes are straightforwardly positive for currencies.
Speakers
Patrick Locke, Global FX Strategy
Arindam Sandilya, Global FX Strategy
James Nelligan, Global FX Strategy
Octavia Popescu, Global FX Strategy
This podcast
EM Fixed Income: Middle East conflict week 3 damage assessment for EM
Jonny Goulden, Anezka Christovova and Ben Ramsey discuss the latest market developments and their impacts for the EM fixed income asset class.
This podcast was recorded on 20 March 2026.
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Global Rates: Global DM Swap Spread Outlook
In this podcast Khagendra Gupta, Ipek Ozil, Francis Diamond, Takafumi Yamawaki, and Ben Jarman discuss the main drivers of DM swap spreads.
This podcast was recorded on 20 March 2026.
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Global Rates: Where next for CB and rates as the Middle-East conflict persists?
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 markets and upcoming central bank meetings.
This podcast was recorded on March 13, 2026.
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Global Commodities: Mind the Metals
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 addition to shipping troubles, the region is also forced to halt production due to persistent infrastructure attacks and limited storage. While oil & gas dominate headlines, metals are also running into trouble. In today’s episode, we summarize everyt
Global FX: Winds of change for the dollar
We discuss recent developments in energy prices and discuss how that is impacting the dollar outlook; Energy importers are particularly vulnerable. We also preview a heavy DM central bank week.
This podcast was recorded on 13 March 2026.
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EM Fixed Income: Assessing the situation and path ahead for EM in Week 2 of the Middle East conflict
Jonny Goulden, Anezka Christovova and Ben Ramsey discuss the latest market developments and their impacts for the EM fixed income asset class.
This podcast was recorded on 12 March 2026.
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US Credit: J.P. Morgan Global Leveraged Finance Conference 2026: Key Takeaways
J.P. Morgan Global Leveraged Finance Conference 2026: Key Takeaways
Speakers:
Stephen Dulake (Co-head of Fundamental Research)
Tarek Hamid (Head of North American Corporate Credit)
Nelson Jantzen (Head of US High Yield Bonds & Leveraged Loan Strategy)
This podcast was recorded on March 11, 2026.
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Global Commodities: Oil and Gas Rocked by Conflict
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 the crucial Strait of Hormuz remained virtually nonexistent and production shut-ins are looming for the Gulf. We explain the importance of the region for global energy, summarize latest development and discuss the range of options that have been prop
Global FX: The best escalation and recovery candidates
We discuss the top down dollar/ FX view following developments in Iran and outline the best escalation and recovery candidates in DM and EM.
Speakers
Meera Chandan, Global FX Strategy
James Nelligan, Global FX Strategy
Patrick Locke, Global FX Strategy
Arindam Sandilya, Global FX Strategy
Anezka Christovova, Head of EMEA EM Local Markets Strategy
This podcast was recorded on 06 March 2026.
EM Fixed Income: Taking stock one week into the Middle East conflict
Jonny Goulden and Anezka Christovova discuss the latest market developments and their impacts for the EM fixed income asset class.
This podcast was recorded on 06 March 2026.
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Global FX: The dollar & AI, CNY, IEEPA, euro bloc
We discuss recent developments around the CNY, GBP, SEK and the dollar.
Speakers
Meera Chandan, Global FX Strategy
Tiffany Wang, Emerging Markets Strategy
Patrick Locke, Global FX Strategy
Octavia Popescu Global FX Strategy
Kunj Padh, Global FX Strategy
This podcast was recorded on 27 February 2026.
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European Rate Markets: Eurobonds, by-elections and the spring statement
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 ahead of the spring statement.
This podcast was recorded on 27 February 2026.
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Global Commodities: Gas Finds a Tighter Balance
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 of volatility at the end of January due to cold sprees in the US and Europe. In this episode, we discuss the European gas market, our updated price forecast and the range of new infrastructure projects that are coming online.
Speakers:
Natasha Kane
EM Fixed Income: Risks around a positive base case
Jonny Goulden, Anezka Christovova and Ben Ramsey discuss the latest market developments and their impacts for the EM fixed income asset class.
This podcast was recorded on 25 February 2026.
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Global FX: Interrogating the optimistic baseline
Arindam Sandilya, Junya Tanase, James Nelligan and Patrick Locke stress test the cyclically constructive, dollar bearish baseline narrative in light of ongoing volatility in US equities, industrial commodities and geopolitical ructions.
This podcast was recorded on 20 February 2026.
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Global Commodities: Going Against the Grain on Oil
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, we disagree. We reiterate our views on resilient Russian supply, discuss the limited Iran risk and point to the accumulation of inventories across the globe.
Speaker:
Natasha Kaneva, Head of Global Commodities Research
This podcast was record
Global Commodities: Are Commodities the Market’s Crystal Ball?
Sharp selloffs in metals and elevated oil prices beg the question - is commodity volatility a harbinger of things to come, or merely a correction? While commodities remain supported by reflated growth and expansionary fiscal policy, other effects are also taking place. In this episode, we reiterate our view on metals and discuss the current sentiment in oil markets to help you understand what come
Global FX: How much is too much?
Arindam Sandilya, James Nelligan and Patrick Locke discuss the FX outlook against the backdrop of US equity stress and underperformance of US stocks relative to the rest of the world.
This podcast was recorded on 13 February 2026.
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European Rates: Scandinavian rate outlook – a long winter hibernation
In this podcast Francis Diamond and Frida Infante discuss the outlook for Sweden and Norway rate markets.
This podcast was recorded on 13 February 2026.
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EM Fixed Income: Getting fully back on the EM horse
Jonny Goulden, Anezka Christovova and Ben Ramsey discuss the latest market developments and their impacts for the EM fixed income asset class.
This podcast was recorded on 13 February 2026.
This communication is provided for information purposes only. please visit www.jpmm.com/research/disclosures for important disclosures.
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Global Rates: Analysing Eurex and US futures roll
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.
Speakers:
Ipek Ozil - Head of US Interest Rate Derivatives Strategy
Khagendra Gupta - Head of European Interest Rate Derivatives Strategy
This podcast was recorded on February 13, 2026.
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Global FX: RBA, JP elections, euro/APAC rotation, dovish BoE, US data
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 surprise and recent US data.
This podcast was recorded on 06 February 2026.
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Global Commodities: Deconstructing the Metal Mania
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 recent volatility by discussing retail investors, fundamental differences between gold and silver, as well as the role of these metals in portfolios.
Speakers:
Natasha Kaneva, Head of Global Commodities Research
Greg Shearer, Head of Base & Precio
European Rates: ECB and BoE February meetings, skinny carry in Euro area, increased UK political noise
In this podcast Francis Diamond, Aditya Chordia and Khagendra Gupta discuss the ECB and BoE monetary policy meetings and implications for rate markets as well as the political noise this week in the UK.
This podcast was recorded on 06 February 2026.
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US Rates: Crypto market structure bill in limbo
US Rates Strategists Teresa Ho and Molly Herckis discuss the latest developments in the digital cash space. Updates include a stall in Congress passing the crypto market structure bill, working to define stablecoins from a balance sheet perspective, and new tokenized products from leading financial institutions.
Speakers:
Teresa Ho, Head of US Short Duration Strategy
Molly Herckis, US Short Dur
EM Fixed Income: A rest is as good as a change
Jonny Goulden, Anezka Christovova and Ben Ramsey discuss the latest market developments and their impacts for the EM fixed income asset class.
This podcast was recorded on 05 February 2026.
© 2026 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 u
Global Commodities: A week of commodity whiplash
In this episode, JPMorgan analysts digest yet another week of market volatility in commodities. The metals hit records on Thursday, but only to backtrack and slide by largest amounts seen in years. Oil and gas, on the other hand, grappled with weather and policy uncertainty. We discuss price fundamentals, risk premia and even weather to try and explain these dynamics.
Speakers:
Natasha Kaneva, H
Global FX and Commodities: The dollar, metals, APAC and vols
We assess the outlook for metals and the dollar after a parabolic week. Special focus on APAC.
Speakers:
Meera Chandan, Global FX Strategy
Gregory Shearer, Head of Base and Precious Metal Research
Junya Tanase, Global FX Strategy
Ben Jarman, Global Economics, Rates & FX Strategy
Arindam Sandilya, Global FX Strategy
This podcast was recorded on 30 January 2026.
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EM Fixed Income: Navigating choppier seas with a temperamental compass
Jonny Goulden, Arindam Sandilya and Anezka Christovova discuss the latest market developments and their impacts for the EM fixed income asset class.
This podcast was recorded on 30 January 2026.
This communication is provided for information purposes only. Institutional clients for more information; please visit www.jpmm.com/research/disclosures for important disclosures.
© 2026 JPMorgan Chase
US Rates: Should we talk about the weather?
Jay Barry and Phoebe White discuss the outlook for US rates in the wake of the FOMC meeting and preview the February refunding announcement.
Speakers:
Jay Barry - Head of Global Rates Strategy
Phoebe White - Head of US Inflation Strategy
This podcast was recorded on 29 January 2026.
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Global FX: Bearish USD vs. EM FX risk appetite index, G10 cyclicals and the Fed
Macro signals are highly procyclical but technical signals turn cautious – we debate what matters more. Plus USD/CNY breaks 7.0, Scandis break higher, spotlight on the Fed.
Speakers
Meera Chandan Global FX Strategy,
Arindam Sandilya Global FX Strategy,
Anezka Christovova Head of EMEA EM Local Markets Strategy,
James Nelligan Global FX Strategy,
Patrick Locke Global FX Strategy
This podcast was
European Rates: Less keen on carry, UK political noise but no signal
In this podcast Francis Diamond and Aditya Chordia discuss some key themes in European rate markets for January, revisiting the theme of limited selective carry in Euro area rates and the increased political noise in the UK this week.
This podcast was recorded on 23 January 2026.
This communication is provided for information purposes only. Institutional clients can view the related report at
Global Rates: Cross currency basis 1H26 outlook
In this podcast Khagendra Gupta and Ipek Ozil discuss the drivers of €STR/SOFR cross currency base.
Speakers:
Khagendra Gupta - Head of European Interest Rate Derivatives Strategy
Ipek Ozil - Head of US Interest Rate Derivatives Strategy
This podcast was recorded on January 23, 2026.
This communication is provided for information purposes only. Institutional clients can view the related repor
EM Fixed Income: A technical signal amid all the noise
Jonny Goulden, Anezka Christovova and Ben Ramsey discuss the latest market developments and their impacts for the EM fixed income asset class.
This podcast was recorded on 22 January 2026
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Global Rates: Monthly Inflation Outlook
Rates strategists Francis Diamond and Phoebe White discuss their recently released Monthly Inflation Outlook. The recent increase in energy prices has pushed breakevens higher but we see limited potential for a further rise in intermediate breakevens.
Speakers:
Phoebe White, Head of US Inflation Strategy
Francis Diamond, Head of European Rate Strategy
This podcast was recorded on Jan 22, 20
Global Rates: 2026 Global government issuance outlook
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 Strategy
Phoebe White, Head of US Inflation Strategy
Aditya Chordia, European Rates Strategy
Khagendra Gupta, Head of European Interest Rate Derivatives Strategy
Takafumi Yamawaki, Head of Japan Fixed Income Research
Ben Jarman, Australia and New Zealan
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