Podcast by J.P. Morgan analysts on global markets, At Any Rate

At Any Rate

Podcast by J.P. Morgan analysts on global markets

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.

Cross Asset Strategy

<ul><li>German 2025 draft budget announcement includes sharp increase in federal deficit, driven by infrastructure and defense spending commitments</li><li>Analysts predict slippages in government investment delivery, with government deficit expected to stay around 3.1% of GDP for 2025</li><li>NATO summit agreement to target 5% defense spending as a share of GDP by 2035 may have implications for fiscal and issuance dynamics in Europe.</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

German 2025 draft budget announcement includes sharp increase in federal deficit, driven by infrastructure and defense spending commitmentsAnalysts predict slippages in government investment delivery, with government deficit expected to stay around 3.1% of GDP for 2025NATO summit agreement to target 5% defense spending as a share of GDP by 2035 may have implications for fiscal and issuance dynamics in Europe.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global Rates: European rates markets roundup: German fiscal, NATO meeting, carry themes, de-dolla...

HarmoniQ Insights

William Mann

Independent Insight Provider

At HarmoniQ Insights, we empower investors to enhance their investment strategies by integrating cutting-edge quantitative research processes and technologies. Our solutions provide access to leading quantitative data providers and services, tailored to align with each client’s unique goals. By bridging the gap between traditional investment approaches and advanced data-driven methods, we help clients gain a competitive edge through innovation in both process and technology.

<ul><li>Introduction of David as a special guest and first client of Harmonic Insights</li><li>Discussion on market dynamics, including non-US equities, Bitcoin, and gold</li><li>Focus on oil's volatility, with a 9% drop in the last five days and recent events impacting Bitcoin</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Introduction of David as a special guest and first client of Harmonic InsightsDiscussion on market dynamics, including non-US equities, Bitcoin, and goldFocus on oil's volatility, with a 9% drop in the last five days and recent events impacting BitcoinThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

"The Data Bottleneck in Quant Finance — and How to Break It" With David Forino, CTO of Quanted

Macroeconomics

<ul><li>U.S. inflation expected to accelerate over the next few months, with core inflation forecasted to rise to 3.8% by December</li><li>Trade policy and geopolitical risks, such as the potential for oil prices to spike, are factors supporting front end tips breakevens</li><li>Euro area inflation data shows softening trend, with core inflation falling to 2.3% in May, impacted by factors like timing of Easter holidays</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

U.S. inflation expected to accelerate over the next few months, with core inflation forecasted to rise to 3.8% by DecemberTrade policy and geopolitical risks, such as the potential for oil prices to spike, are factors supporting front end tips breakevensEuro area inflation data shows softening trend, with core inflation falling to 2.3% in May, impacted by factors like timing of Easter holidaysThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

Macro and Geopolitical Research House

Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

<ul><li>Happy Monday from Copenhagen.</li><li>What a comeback by JJ Spaun at Oakmont yesterday (sorry to the non-golfers), and what a comeback risk is about to make this week.</li><li>Iran’s mullah-tocracy is on the brink, and it could be a catalyst for a big bounce in risk appetite.</li></ul>

Happy Monday from Copenhagen.What a comeback by JJ Spaun at Oakmont yesterday (sorry to the non-golfers), and what a comeback risk is about to make this week.Iran’s mullah-tocracy is on the brink, and it could be a catalyst for a big bounce in risk appetite.

Steno Signals #201 – The Mullahs Are Toast – Re-Inflation Is Back!

Chief Economist & Political Strategist, CrossASEAN Research

Prasenjit K. Basu

Chief Economist & Political Strategist

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

<ul>
<li>The FOMC claimed at its last meeting that 'inflation remains elevated', although core PCE and core CPI inflation were BOTH at 4-year lows in Apr'25, despite the Trump tariffs. </li>
<li>FOMC minutes show members expressing fears about the prospect of both high inflation and high unemployment, NEITHER of which has yet actually transpired. Politics is clouding the Fed's policymaking ability. </li>
<li>Apr'25 was the first month with the tariffs, yet inflation FELL. M2 growth is just 4.25%YoY (Apr'25), so inflation is likely to stay tame. A Jun'25 rate cut is due. </li>
</ul>


The FOMC claimed at its last meeting that 'inflation remains elevated', although core PCE and core CPI inflation were BOTH at 4-year lows in Apr'25, despite the Trump tariffs. 
FOMC minutes show members expressing fears about the prospect of both high inflation and high unemployment, NEITHER of which has yet actually transpired. Politics is clouding the Fed's policymaking ability. 
Apr'25 was the first month with the tariffs, yet inflation FELL. M2 growth is just 4.25%YoY (Apr'25), so inflation is likely to stay tame. A Jun'25 rate cut is due. 


US: Politics Is Clouding the Ability to Make Rational Monetary Policy

United States

The euro is the official currency of the European Economic & Monetary Union.  The US dollar is the official currency of the United States of America.

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Global Rates: European rates markets roundup: German fiscal, NATO meeting, carry themes, de-dolla...

German 2025 draft budget includes sharp increase in federal deficit, leading to implications for bond issuance, economist expectations for...

At Any Rate

"The Data Bottleneck in Quant Finance — and How to Break It" With David Forino, CTO of Quanted

Harmonic Insights discusses market journey with special guest, highlighting recent news, significant market moves, and market dynamics, emphasizing...

William Mann

Global Rates: Monthly Inflation Outlook

May CPI in the U.S. was weak, but tariffs may still impact inflation, leading to potential outperformance in front end tips breakevens due to...

At Any Rate

Steno Signals #201 – The Mullahs Are Toast – Re-Inflation Is Back!

Happy Monday from Copenhagen. What a comeback by JJ Spaun at Oakmont yesterday (sorry to the non-golfers), and what a comeback risk is about to...

Steno Research

US: Politics Is Clouding the Ability to Make Rational Monetary Policy

FOMC worries about high inflation AND unemployment. But core inflation was at 4-year low in Apr'25. Politics clouding Fed's policymaking. Tariffs...

Prasenjit K. Basu

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Global Rates: European rates markets roundup: German fiscal, NATO meeting, carry themes, de-dolla...

German 2025 draft budget includes sharp increase in federal deficit, leading to implications for bond issuance, economist expectations for...

At Any Rate

"The Data Bottleneck in Quant Finance — and How to Break It" With David Forino, CTO of Quanted

Harmonic Insights discusses market journey with special guest, highlighting recent news, significant market moves, and market dynamics, emphasizing...

William Mann

Global Rates: Monthly Inflation Outlook

May CPI in the U.S. was weak, but tariffs may still impact inflation, leading to potential outperformance in front end tips breakevens due to...

At Any Rate

Steno Signals #201 – The Mullahs Are Toast – Re-Inflation Is Back!

Happy Monday from Copenhagen. What a comeback by JJ Spaun at Oakmont yesterday (sorry to the non-golfers), and what a comeback risk is about to...

Steno Research

US: Politics Is Clouding the Ability to Make Rational Monetary Policy

​FOMC worries about high inflation AND unemployment. But core inflation was at 4-year low in Apr'25. Politics clouding Fed's policymaking. Tariffs...

Prasenjit K. Basu

FOMC worries about high inflation AND unemployment. But core inflation was at 4-year low in Apr'25. Politics clouding Fed's policymaking. Tariffs...