Making Sense

In this episode the group discusses US equities in the context of the near 10% S&P500 rally over the last few weeks.  They discuss the fundamental backdrop from a macro, micro and policy lens; the positioning perspective and extent to which investor flows turned bearish through September and October; what this could mean for near-term US equity upside and which sectors look most ripe to rally;...

Todd Rothman, Managing Director of North American High Yield and Leveraged Loan Capital Markets, dives into the latest developments in the leverage loan and high yield markets with Kathleen Darling. They shed light on key catalysts influencing market dynamics, including geopolitical conflicts, a precipitous move in treasuries, recent economic data and more. Tune in to discover how companies can se...

Michael Feroli, Chief US Economist, and Samantha Azzarello, Head of Content Curation and Strategy, discuss the October payrolls report. This episode was recorded on November 3, 2023. This communication is provided for information purposes only. Please visit www.jpmm.com/research/disclosures for important disclosures. JPMorgan Chase & Co. or its affiliates and/or subsidiaries (collectively, J.P...

In this episode we hear from David Denison, Deputy CIO of Hedge Fund Florin Court Capital, a diversified systematic asset manager.  David discusses the philosophy behind trading multiple diversified asset classes across the power / electricity, commodity, interest rate swap and FX markets, the dynamics of a market with fewer speculating players and more producer players, the periods in which trend...

From giant skeletons to pet costumes, find out what’s been filling Halloween shopping baskets with consumer sector specialist Briggs Barton and Carla Casella, Head of U.S. High Yield Consumer Products, Food and Retail. Consumers are spending around events and holidays but with dwindling savings, student loan repayments and high rates, many are feeling the strain. Can momentum continue into peak ho...

Resilience. Fragmentation. Divergence. These were just some of the buzzwords that emerged during the investor conference J.P. Morgan hosted at the IMF/World Bank Annual Meetings in October 2023. What else was top of mind for attendees? Join Joyce Chang, Chair of Global Research, Jahangir Aziz, Head of Emerging Market Economics Research, and Jan Loeys, Head of Long-Term Strategy, as they recap the...

Although the IPO market has been quiet since its 2021 peak, signs of resurgence are emerging. Join Lorenzo Soler, Head of Global Equity Syndicate, and host David Rawlings to explore the current state of the IPO market. Topics include issuer and investor engagement, macroeconomics and geopolitical dynamics, strategies for a successful IPO and a glimpse into the 2024 market landscape.  This episode...

Fed policy, inflation and jobs growth are top of mind — find out what they mean for the economy as J.P. Morgan experts share their insights and predictions. Join host Phoebe White, Head of U.S. Inflation Strategy as she talks to Michael Feroli, Chief U.S. Economist and Jay Barry, Co-Head of U.S. Rates Strategy. Together, they tackle the hard-hitting questions: Why is the U.S. economy not slowing d...

In light of the proposed updates from Moody’s on corporate hybrids, we dive into the potential changes and implications for financing strategies. In this episode, Jem Gumussoy, an Executive Director of our Investment Grade Finance team, hosted by Tan Hunjan, explores the corporate hybrid bond market and the impact of evolving industry standards.  This episode was recorded on October 16, 2023.  Thi...

In this episode we hear from Renee Yao, Founder and CIO of Hedge Fund Neo Ivy, a firm which uses complex AI techniques in the investment process.  Renee discusses the rationale for adopting these AI techniques, the evolution of these methods, and also the pitfalls and challenges of an AI-driven approach.  Renee Yao is in discussion with Eloise Goulder, Head of the Data Assets & Alpha Group. To...

This episode highlights some of the top market structure themes you need going into Q4 2023, including the focus on Treasury basis trading, Basel III developments, India’s bond market dynamics, T+1 settlement and more. Join Kate Finlayson, Leland Price and Meridy Cleary as they highlight the key policy, trading, and microstructural developments right now. This episode was recorded on October 10, 2...

What are Europe’s economic challenges and opportunities? Join host Louise Bennetts and Karen Ward, Chief Market Strategist EMEA at J.P. Morgan Asset Management, as they take a look back over the last decade to see what it means for Europe’s future. They discuss topics ranging from energy to inflation, capital markets and more.  This episode was recorded on October 9, 2023. This material was prepar...

In this episode we hear from Jamie Wise, Founder, President and CEO of Hedge Fund Periscope Capital and BUZZ Holdings.  He discusses the merit of tracking sentiment as an investing factor, the use of social media and online platforms as a discussion tool for retail investors, identifying alphas from those posts, and what those posts say about sentiment right now.  Jamie Wise is in discussion with...

What does a former investment banker — and successful entrepreneur — have to say about leadership? During J.P. Morgan’s recent Tech Stars Leadership Forum, Scott Galloway, Professor of Marketing at NYU Stern School of Business, chatted with Alex Watkins, Co-Head of J.P. Morgan’s International Equity Capital Markets. Tune in now to hear Scott’s advice for tech founders and the top three things that...

Michael Feroli, Chief US Economist, and Samantha Azzarello, Head of Content Curation and Strategy, discuss the September payrolls report. This episode was recorded on October 6, 2023. This communication is provided for information purposes only. Please visit www.jpmm.com/research/disclosures for important disclosures. JPMorgan Chase & Co. or its affiliates and/or subsidiaries (collectively, J....

In this episode, we hear from Maxime Carmignac, CEO and Director of Carmignac UK.  Maxime discusses the benefits of the fundamental discretionary investing style, how ESG can most powerfully be captured within this process, research around the benefits of family- and employee- owned businesses, and the rationale for providing financial products direct to the retail investor (both female and male)....

Join Kathleen Darling as she hosts Brian Tramontozzi, Head of North American Leveraged Finance Capital Markets, to discuss the ever-so-active leveraged loan and high yield markets post-Labor Day reopening. In this podcast, they explore the recent uptick in deal activity, technical backdrop and outlook for Q4. Brian explains today’s favorable market conditions and why companies that have a need in...

In this episode, Krupa Patel dives into the UK economy and markets. She discusses the current UK inflation, growth and policy backdrop, how it differs from the rest of the DM world, and, in Krupa’s view the ripe x-asset investment opportunities currently presenting themselves. Krupa Patel, Head of International Market Intelligence is interviewed by Eloise Goulder, Head of the Data Assets & Alp...

From the Hollywood strikes to carriage disputes and cord-cutting, media companies are grappling with several challenges. Join Philip Cusick (U.S. Communications Services, Infrastructure and Media), David Karnovsky (Head of U.S. Media, Entertainment and Advertising) and Jack Atherton (Technology, Media and Telecom Specialist Sales) as they explore the outlook for the media industry. This episode wa...

As shareholder activism gains momentum worldwide, this podcast sheds light on key trends covering universal proxy rules, the capital allocation debate, M&A activity and the overall global outlook. Learn how boards and management can prepare for activism efforts and navigate the evolving business environment.   J.P. Morgan experts lead this discussion, including David Freedman, Global Head of S...

In this episode, we hear from Peng Cheng, Head of Big Data and AI Strategies in the Global Research department of J.P. Morgan.  Peng runs through two ways in which his team are leveraging ML/ AI techniques to forecast stock returns: on the one hand, using cross-sectional AI to assess corporate sentiment at the stock level (‘Smartbuzz’), and on the other hand, using time series machine learning tec...

In this episode, the group delves into investor positioning, discussing the extent to which equities have positioning headroom for a further rally from here.  They look into positioning from a host of investor sources, including Hedge Funds, CTAs, the retail investor, ETFs and mutual funds, and across the US, Europe and Asia.  Eloise Goulder, Head of the Data Assets & Alpha Group, is in discus...

As J.P. Morgan’s European High Yield and Leveraged Finance conference concludes, Daniel Rudnicki Schlumberger, Head of Leveraged Finance EMEA, discusses key insights with Daniel Lamy, Head of European Credit Strategy Research and Andrew Crook, Head of EMEA Leveraged Finance Sales. They explore European leveraged finance markets’ short-term resilience and potential challenges on the horizon, from d...

China’s EV industry is experiencing exponential growth. Why is this so, and how is EV battery technology key to this revolution? Find out more from Nick Lai, Head of China Equity Research and Head of APAC Auto Research, and Rebecca Wen, who covers the China EV battery and auto parts sector at J.P. Morgan. This episode was recorded on September 5, 2023.  This communication is provided for informati...

With carbon markets growing exponentially, this episode delves into how emissions trading works, opportunities across regions, and policy initiatives helping to drive further market participation. Meridy Cleary from J.P. Morgan’s FICC Market Structure team speaks to emissions trader, Jose Cubria, on the fundamental drivers of compliance and voluntary carbon markets. This episode was recorded on Au...