Making Sense

Michael Feroli, Chief US Economist, and Samantha Azzarello, Head of Content Curation and Strategy, discuss the August payrolls report. This episode was recorded on September 1, 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, Ben Thompson, Head of EMEA Leveraged Finance Capital Markets, hosts Martin Horne, Global Head of Public Assets at Barings. Ahead of J.P. Morgan’s European High Yield and Leveraged Finance conference, they discuss the current state of the debt capital markets and outlook for next year, diving into global and regional trends, portfolio positionings, the private credit market and mor...

In this episode, the group delves into European market structure, discussing firstly the context of still lackluster European turnover and liquidity, and secondly the emergence of the European retail investor.  They discuss the European countries in which the retail investor has been most active, the characteristics of the stocks which have been most traded, and the possible market impact of these...

From vehicle electrification to autonomous driving, what does the road ahead look like for the automotive industry? Jose Asumendi, Head of European Automotive Research, and Ryan Brinkman, Head of U.S. Autos & Auto Parts, discuss the key trends shaping the future of mobility. This episode was recorded on August 17, 2023. This communication is provided for information purposes only. Please visit...

In this episode, King Ho, Co-head for Product for Depositary Receipts, Asia Pacific and MENA markets at J.P. Morgan, is joined by Braedon Lehman, Senior Associate for Corporate Governance and M&A at S&P Global Market Intelligence, and Prerna Divecha, Climate and ESG Credit and Risk Solutions business at S&P Global Market Intelligence, to discuss the value of sustainability and related...

What are the top long-term risks for global markets, and how can investors prepare? Join Joyce Chang, Chair of Global Research, and Jan Loeys, who covers Long-Term Strategy, as they discuss the key factors that will shape the investment landscape over the next 10 years. This episode was recorded on July 28, 2023. This communication is provided for information purposes only. Please visit www.jpmm.c...

In this episode, Andrew Tyler, Head of US Market Intelligence, and John Schlegel, Head of Global Positioning Intelligence, discuss how views on US markets have shifted for the near term, post the strong performance in prior months and a view that US macro data is “goldilocks.”  They cover how much of the good news might be priced in and diverging views around the Fed.  From a positioning angle, th...

What is El Niño, and how will it impact weather patterns and crop yields across the globe? Are there implications for the wider commodity complex? Get answers from Tracey Allen, Agricultural Commodities Strategist, and Natasha Kaneva, Head of Global Commodities Strategy.   This episode was recorded on July 26, 2023. This communication is provided for information purposes only. Please visit www.jpm...

In this episode, the team discuss the investment case for US vs. international equities post strong outperformance of US markets YTD.  They run through the fundamental, valuation, and sentiment differentials between the regions, and while they see further scope for US markets to outperform international markets (especially Europe and China), they do remain positive on Japan and the economy’s struc...

Michael Feroli, Chief US Economist, and Samantha Azzarello, Head of Content Curation and Strategy, discuss the July payrolls report. This episode was recorded on August 4th, 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. M...

Join Kathleen Darling as she hosts David de Boltz, Managing Director of Leveraged Finance Capital Markets, to discuss the tech sector's current financing activities and trends. They dive into drivers and challenges, from macroeconomic dynamics, institutional demand to the market technicals. Find out why tech financing is in a “Goldilocks” scenario, and how the resurgent M&A and AI wave could t...

Are house prices going to fall in the U.S.? Could another crash lie ahead? Or will tight supply keep the housing market in a healthier place? Find out from John Sim, Head of Securitized Products Research, Anthony Paolone, Co-head of U.S. Real Estate Stock Research and Michael Rehaut, Head of U.S. Homebuilding and Building Products Equity Research. Join them for an insightful discussion as they ans...

In this episode, the team dives into US equities - post the strong YTD rally - and discuss whether equities can push even higher through Q3.  They run through the health of the US consumer, the rates path from here (post this week’s lower CPI print), and the extent to which investors are now heavily positioned in US markets.  Andrew Tyler (Head of US Market Intelligence) and John Schlegel (Head of...

Host Rebecca Thornton chats with Tony Lewis, CEO of Aumni, and Mike Elanjian, Head of Digital Private Markets at J.P. Morgan, about how data has the potential to transform the venture capital market. With the firm’s recent acquisition of data company Aumni, hear how this cutting-edge platform is teaming up with J.P. Morgan’s Capital Connect to facilitate market transparency and alignment between s...

In this episode, the Data Assets & Alpha Group look back on H1 2023 with a focus on x-asset, regional and thematic performance. They discuss the evolution of the macro narrative from inflation concerns to the rise in use of AI, what positioning looks like now and the outlook for the remainder of the year. Eloise Goulder, Head of the Data Assets & Alpha Group, is interviewed by Edwina Lowe,...

Michael Feroli, Chief US Economist, and Samantha Azzarello, Head of Content Curation and Strategy, discuss the June payrolls report. This episode was recorded on June 7, 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. Morga...

Host Kathleen Darling and Todd Rothman, Managing Director of North American High Yield and Leveraged Loan Capital Markets, discuss activity across leveraged capital markets against the current backdrop. They dive into the financing trends for M&A and LBO transactions, and the implications for structuring and documentation strategies and more.   This episode was recorded on June 28, 2023. This...

Join host Rebecca Thornton in an engaging conversation with Lisa Wardell, former CEO and Executive Chair of Adtalem Global Education. Having experience across 15+ public and private boards including current positions at American Express and Adtalem, hear Lisa’s first-hand insights on effective governance strategies, from successful management partnerships to board mentorship, diversity and success...

What lies ahead for markets in the second half of the year? In this episode of “Research Recap,” J.P. Morgan Research analysts take stock of what has happened so far in 2023 and explore the outlook for global growth, equities, rates, commodities, currencies and more.   00:35 – Global growth with Bruce Kasman, Chief Global Economist 05:08 – U.S. rates with Jay Barry, Co-Head of U.S. Rates Strategy...

DATA DEEP-DIVE: The second of our two-part series with Fredrik Giertz from the JP Morgan Investible Indices team:  In this episode, Fredrik hones into his Time Traveller data set, discussing what it is, why it matters, how it is differentiated vs classical quant frameworks, and what it says about market conditions today.  Fredrik is in discussion with Eloise Goulder, Head of the Data Assets &...

The first of our two-part series with Fredrik Giertz from the JP Morgan Investible Indices team:  In this episode, Fredrik delves into the long-run, discussing why he thinks history is such an important guide to current market dynamics, why he believes longer-term alphas are (comparatively) less exploited by market participants, and the sources of data he is using to track market history, back to...

Are consumers still willing and able to travel? How are airlines faring? And will flight prices drop this summer? Get answers to these questions and more in our latest episode of “Research Recap,” featuring Jamie Baker, U.S. Airlines and Aircraft Leasing Analyst, and Harry Gowers, European Airlines and Travel Retail Analyst. This episode was recorded on June 7, 2023. This communication is provided...

The municipal bond market has been gaining the attention of investors, not only in the U.S. but across the globe. Kate Finlayson, Global Head of FICC Market Structure speaks to Mike Cassidy, Head of Taxable Municipal Bonds Trading, and Marshall Kitain, Head of Municipal Credit Analysis and Investor Marketing, on the growing appeal of taxable munis, electronic trading developments, and much more. T...

In this episode the team dives into Chinese equities, discussing the potential for a tactical rebound given depressed performance and valuations in the region. The team also explore the risk / reward for European equities. Krupa Patel, Head of International Market Intelligence, is in discussion with Eloise Goulder, Head of the Data Assets & Alpha Group. This episode was recorded on June 12, 20...

Join host David Rawlings in a conversation with Michael Cembalest, Chairman of Market and Investment Strategy of J.P. Morgan Asset and Wealth Management, as they analyze the latest economic trends, including the U.S. economy, deglobalization implications, currency diversification, decarbonization transition and more. Hear Michael’s insights on the opportunities and challenges in today’s dynamic gl...