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>EM sustainable debt universe is now $1.4 trillion, making up 14% of EM hard currency bond stock and 3% of EM local currency debt stock</li><li>Use of proceeds bonds are the largest part of the sustainable debt asset class, with green bonds dominating at 59% of the outstanding notional</li><li>EM corporate sustainable bonds have seen significant growth, with the stock of bonds increasing by over 40 billion to 360 billion in the past year, driven by strong issuance trends and a diversifying issuer base across regions, sectors, and countries</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

EM sustainable debt universe is now $1.4 trillion, making up 14% of EM hard currency bond stock and 3% of EM local currency debt stockUse of proceeds bonds are the largest part of the sustainable debt asset class, with green bonds dominating at 59% of the outstanding notionalEM corporate sustainable bonds have seen significant growth, with the stock of bonds increasing by over 40 billion to 360 billion in the past year, driven by strong issuance trends and a diversifying issuer base across regions, sectors, and countriesThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Emerging Markets: The EM Fixed Income Sustainable Debt Asset Class

FX & Rates

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

<ul><li>Recent fall in US inflation breakevens driven by change in growth expectations and trade policy developments</li><li>US breakevens appear somewhat cheap versus fair value framework, with near term inflation risks still skewed to the upside</li><li>European breakevens have outperformed due to seismic shift in German fiscal policy, leading to a backup in intermediate yields on the German curve.</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Recent fall in US inflation breakevens driven by change in growth expectations and trade policy developmentsUS breakevens appear somewhat cheap versus fair value framework, with near term inflation risks still skewed to the upsideEuropean breakevens have outperformed due to seismic shift in German fiscal policy, leading to a backup in intermediate yields on the German curve.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global Rates – Discussing the divergent drivers of US and EUR breakevens

The Chinese renminbi (yuan) is the official currency of The People's Republic of China. 

<ul><li>Market is seeing an uptick in CNY fixing, potentially halting the DXY bear trend temporarily</li><li>Investors are focused on upcoming tariff event risk on April 2, leading to de-risking behavior</li><li>Various potential scenarios for tariff implementation and FX response, with uncertainty around delivery and impact of tariffs on different sectors and countries</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Market is seeing an uptick in CNY fixing, potentially halting the DXY bear trend temporarilyInvestors are focused on upcoming tariff event risk on April 2, leading to de-risking behaviorVarious potential scenarios for tariff implementation and FX response, with uncertainty around delivery and impact of tariffs on different sectors and countriesThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global FX: What to expect when you are expecting tariffs (again)

<ul><li>Discussion on EM rates, markets, and monetary policy, as well as domestic political developments</li><li>Central banks facing pressure to pivot away from easing biases due to uncertainties from tariffs and potential growth hits</li><li>Market pricing showing variation in Latin America towards a dovish bias in terms of policy rates at the end of the year</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Discussion on EM rates, markets, and monetary policy, as well as domestic political developmentsCentral banks facing pressure to pivot away from easing biases due to uncertainties from tariffs and potential growth hitsMarket pricing showing variation in Latin America towards a dovish bias in terms of policy rates at the end of the yearThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

EM Fixed Income: Monetary policy struggles to be heard above the noise

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>OPEC's output decision is seen as the most influential factor for the oil market, with prices tumbling and Brent crude trading just above $70</li><li>OPEC shows tolerance to potential economic fallout from tariffs and plans to increase crude oil output starting in April 2025</li><li>Uncertainty remains in the market as geopolitical tensions escalate in the Middle East and President Trump proposes a new Iranian nuclear deal with a two-month deadline, putting pressure on Iran and other countries subject to sanctions</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

OPEC's output decision is seen as the most influential factor for the oil market, with prices tumbling and Brent crude trading just above $70OPEC shows tolerance to potential economic fallout from tariffs and plans to increase crude oil output starting in April 2025Uncertainty remains in the market as geopolitical tensions escalate in the Middle East and President Trump proposes a new Iranian nuclear deal with a two-month deadline, putting pressure on Iran and other countries subject to sanctionsThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global Commodities: Oil vigilantes in action

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

Emerging Markets: The EM Fixed Income Sustainable Debt Asset Class

The EM sustainable debt market has grown to $1.4 trillion, with green bonds leading the way and social bonds seeing a significant increase,...

At Any Rate

Global Rates – Discussing the divergent drivers of US and EUR breakevens

US inflation breakevens have fallen due to changes in growth expectations and trade policy developments, while Euro area breakevens have...

At Any Rate

Global FX: What to expect when you are expecting tariffs (again)

Market participants are closely watching the impact of CNY fixing, de-risking ahead of tariff events, and the uncertain response of FX to potential...

At Any Rate

EM Fixed Income: Monetary policy struggles to be heard above the noise

This podcast explores the challenges facing emerging market central banks in navigating domestic and global economic uncertainties, such as...

At Any Rate

Global Commodities: Oil vigilantes in action

Oil market influenced by OPEC output decision, tariffs increase risk of recession, prices tumble, OPEC proceeds with output increase, Brent prices...

At Any Rate