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.

FX & Rates

The Canadian dollar is the official currency of Canada. 

<ul><li>US economic growth has shown exceptional resilience, with a strong payrolls report and other positive macroeconomic factors</li><li>Higher US yields may put pressure on dollar shorts and lead to a potential capitulation in those positions</li><li>Canadian dollar baskets may outperform in this environment, with higher US yields benefiting the CAD</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

US economic growth has shown exceptional resilience, with a strong payrolls report and other positive macroeconomic factorsHigher US yields may put pressure on dollar shorts and lead to a potential capitulation in those positionsCanadian dollar baskets may outperform in this environment, with higher US yields benefiting the CADThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global FX: It was hard enough in the first place

Commodities

Crude oil is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. Crude oil can be refined to produce usable products such as gasoline, diesel and various forms of petrochemicals. It is a nonrenewable resource, also known as a fossil fuel, which means that it can't be replaced naturally at the rate we consume it and is therefore a limited resource.

<ul><li>Brent oil futures trading in line with fair value, with bullish bias in options, as volume of bullish calls hit record high</li><li>Ongoing conflict between Israel and Iran raising concerns about further escalation, with recent attacks and strikes indicating potential for heightened tensions</li><li>Global oil inventories are significantly lower than in previous years, potentially impacting market dynamics and prices as demand and inventory levels play a key role</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Brent oil futures trading in line with fair value, with bullish bias in options, as volume of bullish calls hit record highOngoing conflict between Israel and Iran raising concerns about further escalation, with recent attacks and strikes indicating potential for heightened tensionsGlobal oil inventories are significantly lower than in previous years, potentially impacting market dynamics and prices as demand and inventory levels play a key roleThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global Commodities: This time, it feels different

The US dollar is the official currency of the United States of America.

<ul><li>Labor market data challenges notion of slowing labor demand and jolts</li><li>Fed policy expectations shift to 25 basis point cut in November</li><li>Uncertainty in policy outcomes causing high policy uncertainty and potential for large market moves</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Labor market data challenges notion of slowing labor demand and joltsFed policy expectations shift to 25 basis point cut in NovemberUncertainty in policy outcomes causing high policy uncertainty and potential for large market movesThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Cross Asset Strategy

<ul><li>Macro backdrop evolving with upcoming US elections and Middle East tensions impacting EM assets</li><li>Mixed bag on macro side with softer inflation in EM, better revisions in US growth but soft manufacturing PMIs</li><li>China as tiebreaker with further policy support, rally in equities, and implications for Fed and commodities prices; geopolitical risks and US election as wild cards to watch</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Macro backdrop evolving with upcoming US elections and Middle East tensions impacting EM assetsMixed bag on macro side with softer inflation in EM, better revisions in US growth but soft manufacturing PMIsChina as tiebreaker with further policy support, rally in equities, and implications for Fed and commodities prices; geopolitical risks and US election as wild cards to watchThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

EM Fixed Income Focus: The impact of geopolitics on EM

<ul><li>Commodity markets are down despite stimulatory measures from China, with oil prices falling due to increased supply from Libya and OPEC plus alliance</li><li>China's demand outlook for oil remains steady, with forecasts for oil demand growth unchanged despite stimulus measures</li><li>Base metals, particularly copper, have seen a price increase due to stronger demand impulses from China, with bullish outlook and potential upside risks for the first half of 2025</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Commodity markets are down despite stimulatory measures from China, with oil prices falling due to increased supply from Libya and OPEC plus allianceChina's demand outlook for oil remains steady, with forecasts for oil demand growth unchanged despite stimulus measuresBase metals, particularly copper, have seen a price increase due to stronger demand impulses from China, with bullish outlook and potential upside risks for the first half of 2025This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global FX and Commodities: Everything Everywhere All at once

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

Global FX: It was hard enough in the first place

The US economy is experiencing strong growth, with blockbuster payrolls reports exceeding expectations, while markets grapple with interest rate...

At Any Rate

Global Commodities: This time, it feels different

Overall, the oil market is currently stable but facing potential risks from geopolitical tensions and supply concerns, with options trading showing...

At Any Rate

US Rates: The Fall Classic

Labor market data challenges the notion of slowing labor demand, with job openings rising in August and initial claims at their lowest since May,...

At Any Rate

EM Fixed Income Focus: The impact of geopolitics on EM

Discussion on upcoming US elections and evolving macro backdrop, with mixed macro data showing softer inflation in emerging markets and well...

At Any Rate

Global FX and Commodities: Everything Everywhere All at once

The bazooka stimulus in China has impacted oil, ag, and gas markets, with crude oil prices dropping due to expectations of increased supply, while...

At Any Rate