Market Matters

“It’s all about the U.S., for better or for worse.” What are the key themes driving global markets and economies in 2024 and beyond? Will geopolitics, globalization, technology, climate action and more continue to be shaped by U.S. dominance? And how will these factors impact strategic portfolios? Chair of Global Research Joyce Chang and Jan Loeys, who covers long-term strategy, share their insights. This episode was recorded on February 8, 2024. This communication is provided for information purposes only. Please read JP Morgan research reports related to its contents for more information including important disclosures. Copyright 2024 JP Morgan Chase & Co. All rights reserved.

In this episode the group discuss risk / reward for US equities following an incredibly strong rally over the last 3 months.  They discuss strength in recent macro and micro data, implications of the recent ‘hotter’ CPI, the positioning backdrop for US equities and sectors, and key catalysts to watch to shape the narrative from here.  Andrew Tyler, Head of US Market Intelligence, and John Schlegel, Head of Global Positioning Intelligence, are in discussion with Eloise Goulder, Head of the Global Data Assets & Alpha Group. This discussion follows Making Sense podcast episodes released on: 9th January 2024 - Data Assets & Alpha Group: US Macro & Positioning Views - January 2024 16th November 2023 - Data Assets & Alpha Group: The Case For Further Near-Term US Upside This episode was recorded on February 14, 2024. 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. Mor

Ahead of J.P. Morgan’s Global High Yield & Leveraged Finance conference, Brian Tramontozzi, Head of North American Leveraged Finance Capital Markets, hosts Brian Rubin, Head of U.S. Fixed Income Trading at T. Rowe Price, and Michael Schechter, Partner and Head of Credit Trading at Ares Management. They discuss the current activity in the debt capital markets and potential factors that could impact the positive momentum.   This episode was recoded on February 5, 2024. This material was prepared by certain personnel of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide and not the firm’s research department. It is for informational purposes only, is not intended as an offer or solicitation for the purchase, sale or tender of any financial instrument and does not constitute a commitment, undertaking, offer or solicitation by any JPMorgan Chase entity to extend or arrange credit or to provide any other products or services to any person or entity. © 2024 JPMorgan Chase & Company. All r

What do traders look for as they navigate market volatility in a dynamic landscape? How can firms utilize emerging technologies to achieve optimum outcomes? This episode explores the factors shaping execution strategies, the challenges in deploying new trading techniques and what current trends tell us about the future of electronic trading. Global Head of FICC e-Trading, Chi Nzelu joins Kate Finlayson, Global Head of FICC Market Structure & Liquidity Strategy, as they discuss cross-asset advancements in e-Trading and what to look out for next. This episode was recorded on January 24, 2024. The views expressed in this podcast may not necessarily reflect the views of JPMorgan Chase & 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, are not issued by Research but are a solicitation under CFTC Rule 1.71. Referenced products and services in this podcast may not be suitabl

The U.S. labor market continues to outperform expectations, with non-farm payrolls growing by 353,000 in January and wages increasing 4.5%. What does this all mean for inflation and interest rates? Join Michael Feroli, Chief U.S. Economist, and Samantha Azzarello, Head of Content Curation and Strategy, as they discuss the January jobs report. This episode was recorded on February 2, 2024. This communication is provided for information purposes only. Please read JP Morgan research reports related to its contents for more information including important disclosures. Copyright 2024 JP Morgan Chase & Co. All rights reserved.

In this episode we hear from Anna Stupnytska, Global Macro Economist at Fidelity International.  Anna discusses the impact of Climate Change on growth, inflation and interest rates under various policy scenarios, the trade-off between nearer-term ‘transition risks’ and longer-term ‘physical risks’, what all this means for asset prices and strategic asset allocation, and distinguishing ‘signal from noise’ across the breadth of ESG data.  Anna is in discussion with Eloise Goulder, Head of the Global Data Assets & Alpha Group.   Links for show notes:    From the top down: Capital market assumptions in the climate crisis (fidelity.co.uk)   February-2023-Global-Macro-Insights-Tracking-net-zero-progress.pdf (fidelity.co.uk)   Race to net zero: Seeing the world in an investment portfolio (fidelity.co.uk)   This episode was recorded on January 22, 2024. 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

After hitting record highs in 2023, will gold prices enjoy another glittering year? And will silver prices follow suit? Join Natasha Kaneva, Head of Global Commodities Strategy, and Gregory Shearer, Head of Base and Precious Metals Strategy, as they explore the outlook for precious metals in 2024.   Read the full outlook for gold prices here: https://www.jpmorgan.com/insights/global-research/commodities/gold-prices   This episode was recorded on January 22, 2024. This communication is provided for information purposes only. Please read JP Morgan research reports related to its contents for more information including important disclosures. Copyright 2024 JP Morgan Chase & Co. All rights reserved.

Join this roundtable discussion with Daniel Rudnicki Schlumberger, Head of Leveraged Finance EMEA, Ben Thompson, Head of EMEA Leveraged Finance Capital Markets, and Natalie Netter, Head of EMEA Leveraged Finance Syndicate. Gain insights into factors shaping leveraged finance markets in Europe, from technical drivers and refinancing activities to M&A transactions and the broader market conditions.      This episode was recorded on January 18, 2023.  This material was prepared by certain personnel of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide and not the firm’s research department. It is for informational purposes only, is not intended as an offer or solicitation for the purchase, sale or tender of any financial instrument and does not constitute a commitment, undertaking, offer or solicitation by any JPMorgan Chase entity to extend or arrange credit or to provide any other products or services to any person or entity.  © 2024 JPMorgan Chase & Company. All rights reserved. 

Join host David Rawlings and Michael Cembalest, Chairman of Market and Investment Strategy at J.P. Morgan Asset and Wealth Management, as they discuss the state of the global economy and outlook in 2024. Explore the possibility of a soft landing and market surprises. Dive into topics like the evolving role of regional banks, antitrust risks, global elections’ implications on markets and more.      Read Michael’s full outlook: https://privatebank.jpmorgan.com/nam/en/insights/latest-and-featured/eotm/outlook     This episode was recorded on January 9, 2024. This material was prepared by certain personnel of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide and not the firm’s research department. It is for informational purposes only, is not intended as an offer or solicitation for the purchase, sale or tender of any financial instrument and does not constitute a commitment, undertaking, offer or solicitation by any JPMorgan Chase entity to extend or arrange credit or to provide any other pr

As the 42nd J.P. Morgan Healthcare Conference wraps up, host David Rawlings and Mike Gaito, Global Head of Healthcare Investment Banking, explore the recent M&A trends and the impact of economic factors on healthcare investments. Dive into the latest developments from innovation in AI and machine learning to data management and outcomes-driven healthcare services. How can boards and management teams navigate the healthcare sector in 2024?   This episode was recorded on January 12, 2024. This material was prepared by certain personnel of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide and not the firm’s research department. It is for informational purposes only, is not intended as an offer or solicitation for the purchase, sale or tender of any financial instrument and does not constitute a commitment, undertaking, offer or solicitation by any JPMorgan Chase entity to extend or arrange credit or to provide any other products or services to any person or entity. © 2024 JPMorgan Chase

Inflation slowed across the globe in 2023, raising hopes of a soft landing. Looking ahead, will it decline further or will it prove to be sticky above central banks’ targets? Join Chief Economist Bruce Kasman and Senior Economist Nora Szentivanyi as they discuss the global inflation outlook for 2024. This episode was recorded on January 11, 2024. This episode was recoded on January 5, 2024. This communication is provided for information purposes only. Please read JP Morgan research reports related to its contents for more information including important disclosures. Copyright 2024 JP Morgan Chase & Co. All rights reserved.

In this episode, the group discuss the key surprises that emerged through 2023, how they played out from a positioning perspective and key catalysts to monitor for the year ahead. Eloise Goulder, Head of the Data Assets & Alpha Group (DA&A) and Jigar Vakharia, a member of the group’s Positioning Intelligence team are in conversation with Edwina Lowe, Product Specialist within the DA&A Group. This episode was recorded on January 15, 2024. 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 s

In this podcast, Rama Variankaval, Global Head of Corporate Advisory & Sustainable Solutions, regroups with his teammate Evan Junek to introduce their latest “Corporate Compass” report, which outlines how corporate clients can proactively de-risk their financial needs to be well-positioned for navigating 2024 and beyond. Rama and Evan dive into the challenges and opportunities arising from these key themes – today’s interest rates and cost of capital, value of scale and overall market risks – providing actionable strategies for boards, CEOs and senior management.   Read the full “Corporate Compass” report: https://www.jpmorgan.com/corporate-compass-report Some of the datapoints referenced in this podcast are sourced from FactSet as of year-end 2023. This episode was recorded on January 4, 2024. This material was prepared by certain personnel of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide and not the firm’s research department. It is for informational purposes only, is not intend

In this episode, Andrew Tyler (Head of US Market Intelligence) and John Schlegel (Head of Global Positioning Intelligence) discuss the tactical view for US Equities, post the strong rally into the end of 2023.  They touch on upcoming catalysts, risks, and how much positioning has shifted.  Sector and thematic views are mentioned as well. This episode was recorded on January 8, 2024. 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.

The pace of hiring in the U.S. continues apace, with the economy adding 216,000 jobs in December — significantly more than expected. At the same time however, the labor force participation rate dipped to its lowest in nearly a year. Against this backdrop, is the Fed still expected to cut rates in 2024? Join Michael Feroli, Chief U.S. Economist, and Samantha Azzarello, Head of Content Curation and Strategy, as they discuss the December payrolls report. This episode was recoded on January 5, 2024. This communication is provided for information purposes only. Please read JP Morgan research reports related to its contents for more information including important disclosures. Copyright 2023 JP Morgan Chase & Co. All rights reserved.

In this 2-part episode, we hear from Anthony Todd, CEO of Hedge Fund Aspect Capital, a diversified systematic asset manager which Anthony Co-Founded more than 25 years ago. In Part 2, Anthony discusses why he believes trend-following techniques will remain durable investment strategies over the longer term, use of AI and machine learning in the investment process, and how he expects the industry to evolve from here.  Anthony Todd is in discussion with Eloise Goulder, Head of the Data Assets & Alpha Group.   Show notes: https://www.aspectcapital.com/   This episode was recorded on November 22, 2023. 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 o

With more attention on emerging market interest rate derivatives than ever before, this episode delves into key trading dynamics. Meridy Cleary from the FICC Market Structure team speaks to Avi Berkowicz, the Head of CEEMEA Local Rates Trading on trading protocols, electronification trends, the road ahead for local risk-free rate transitions, and which markets our traders have their eyes on. This episode was recorded on December 13, 2023.  The views expressed in this podcast may not necessarily reflect the views of JPMorgan Chase & 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, are not issued by Research but are a solicitation under CFTC Rule 1.71. 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 financ

In this 2-part episode we hear from Anthony Todd, CEO of Hedge Fund Aspect Capital, a diversified systematic asset manager which Anthony Co-Founded more than 25 years ago.  In Part 1, Anthony discusses the evolution of the industry over the last 25 years, and the investment philosophy behind setting up and developing Aspect Capital over that period. Anthony Todd is in discussion with Eloise Goulder, Head of the Data Assets & Alpha Group.   Show notes: https://www.aspectcapital.com/   This episode was recorded on November 22, 2023. 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 i

Ongoing inflation, high interest rates and diminishing excess savings are pressurizing consumer confidence this holiday shopping season. Against this uncertain macro backdrop, are consumers still willing and able to spend this year? Join Matthew Boss, Head of Department Stores, Specialty Softlines and Leisure, and Georgina Johanan, Head of European General Retail, as they discuss the outlook for holiday shopping. This episode was recorded on December 15, 2023. This communication is provided for information purposes only. Please read JP Morgan research reports related to its contents for more information including important disclosures. Copyright 2023 JP Morgan Chase & Co. All rights reserved.

In this 2-part episode, we delve into 5 major AI / ML models and 40+ associated keywords, running through the merits and differences between those models, the drawbacks from each, and use cases in applying these models to alpha generation and investing.  We also cover which areas may be most ripe for further development and adoption within the industry.  Peng Cheng, Head of Big Data and AI Strategies within J.P. Morgan’s Research division, and Emma Wu, a member of the same team, are in discussion with Eloise Goulder, Head of the Data Assets & Alpha Group.   Websites referenced throughout this episode: https://arxiv.org/ https://www.ssrn.com/index.cfm/en/ https://www.kaggle.com/ https://developers.google.com/machine-learning/glossary   This episode was recorded on November 30, 2023. 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 const