At Any Rate

Latest Episodes:

EM Fixed Income: Inflation pressures and idiosyncratic EMEA EM politics May 14, 2026

Show notes

Anezka Christovova, Ben Ramsey and Michael Harrison discuss the latest market developments and their impacts for the EM fixed income asset class.

This podcast was recorded on 14 May 2026.

© 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.

In Focus: Frontier AI May 14, 2026

Show notes

In this episode, we explore frontier AI’s role in the cybersecurity landscape with our Industry and Policy thematics analysts in Global Research. We discuss the evolving relationship between frontier AI models and cyber ecosystem, patchability in the space, global supply constraints, and what fighting AI with AI means in today's world.

Speakers:

Jahangir Aziz, Co-Head of Economic Research

Steven Palacio, Industry & Policy Thematics Analyst

Samantha Azzarello, Head of Content Strategy

This podcast was recorded on May 8, 2026.

This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5280654-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.

Global Rates – And now my fears, they come to me in threes May 08, 2026

Show notes

J.P. Morgan Strategists discuss the impact to the April employment report on FX and rates markets and delve into Treasury’s May refunding announcement.

Speakers:

Jay Barry, Head of Global Rates Strategy

Meera Chandan, Co-Head of Global FX Strategy

This podcast was recorded on May 8, 2026.

This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5294404-0, https://www.jpmm.com/research/content/GPS-5292375-0, and https://www.jpmm.com/research/content/GPS-5290421-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.

Global Commodities: An Inventory Detour May 08, 2026

Show notes

While markets await Iran’s response to a US proposal to end the war and reopen the Strait, oil inventories are being activated at unprecedented rates and provide a much-needed cushion for prices and consumption. Aside from oil, however, inventories play a crucial role for nearly all commodities. In this episode, we focus on the role of storage in gas and metals, putting it in the context of recent disruptions.

Speakers:

Otar Dgebuadze, European Natural Gas

Greg Shearer, Head of Base and Precious Metals Strategy

This podcast was recorded on May 8, 2026.

This communication is provided for information purposes only. Institutional clients can view the related report at

https://www.jpmm.com/research/content/GPS-5290388-0, https://www.jpmm.com/research/content/GPS-5287764-0, and https://www.jpmm.com/research/content/GPS-5290409-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.

Global FX: Yentervention and other FX policy stories May 08, 2026

Show notes

JPMorgan’s FX strategists discuss the outlook for currencies in the wake of the Japanese MOF’s FX intervention, ahead of President Trump and Secretary Bessent’s visit to Asia next week.

This podcast was recorded on 08 May 2026.

This communication is provided for information purposes only. Institutional clients can view the related report at

https://www.jpmm.com/research/content/GPS-5290421-0

for more information; please visit www.jpmm.com/research/disclosures for important disclosures.

EM Fixed Income: Parsing peace talks and payrolls May 07, 2026

Show notes

Anezka Christovova, Ben Ramsey and Tania Escobedo Jacob discuss the latest market developments and their impacts for the EM fixed income asset class.

This podcast was recorded on 07 May 2026.

In Focus: Equity & Credit Update on AI CapEx May 04, 2026

Show notes

Welcome to another episode of In Focus, where we explore timely and thematic topics with insights from across J.P. Morgan Global Research. In today's episode, we bring together equity and credit views to examine the AI CapEx theme, which has been a major driver of risk assets.

Speakers:

Bhupinder Singh, US Equity Strategist & Head of Thematic Research

Nathaniel Rosenbaum, Head of US High Grade Credit Strategy

Samantha Azzarello, Head of Content Strategy

This podcast was recorded on May 1, 2026.

This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5252024-0, https://www.jpmm.com/research/content/GPS-5259231-0, and https://www.jpmm.com/research/content/GPS-5271383-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.

US Rates - I won’t see you next time May 01, 2026

Show notes

The Fed has spoken, now what? Our US Rates strategists break down the April FOMC decision and what it means for markets, plus a preview of next week's Treasury Quarterly Refunding Announcement.

Speakers:

Teresa Ho, Head, U.S. Short Duration Strategy
Ipek Ozil, Head of US Interest Rate Derivatives Strategy
Amanda Berke, U.S. Rates Strategy

This podcast was recorded on May 1, 2026.

This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5286102-0, https://www.jpmm.com/research/content/GPS-5287611-0, and https://www.jpmm.com/research/content/GPS-5287349-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.

Global Commodities: It’s Simple Math May 01, 2026

Show notes

With two months of the Middle East conflict behind us, there is little certainty in the world of commodities. One thing is clear, however: the supply shock is spreading. Although commodity markets are highly nuanced, understanding the magnitude of the core issues is a matter of simple arithmetic. In this episode, we break down the math on oil and metals.

Speakers:

Natasha Kaneva, Head of Global Commodities Research

Greg Shearer, Head of Base and Precious Metals Strategy

This podcast was recorded on May 1, 2026.

This communication is provided for information purposes only. Institutional clients can view the related report at

https://www.jpmm.com/research/content/GPS-5273094-0, https://www.jpmm.com/research/content/GPS-5287764-0, https://www.jpmm.com/research/content/GPS-5278906-0, https://www.jpmm.com/research/content/GPS-5282493-0, https://www.jpmm.com/research/content/GPS-5278073-0, and https://www.jpmm.com/research/content/GPS-5282937-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.

Global FX: Yen intervention, re-assessing USD bearish view, central bank rundown May 01, 2026

Show notes

In this week’s At Any Rate Podcast, our Global FX Strategists discuss 1) this week’s major moves in JPY, 2) how the USD view is evolving, and 3) recent and upcoming central bank meetings impact FX outlooks.

Speakers:

Meera Chandan

Ben Jarman

Junya Tanase

James Nelligan

Patrick Locke

This podcast was recorded on 01 May 2026.

This communication is provided for information purposes only. Institutional clients can view the related reports at

https://www.jpmm.com/research/content/GPS-5283912-0, https://www.jpmm.com/research/content/GPS-5287512-0, for more information; please visit www.jpmm.com/research/disclosures for important disclosures.