“Making Sense,” the podcast channel from J.P. Morgan’s Commercial & Investment Bank, brings you views and analysis from the Investment Banking, Markets and Research businesses. In each episode, experts discuss the latest market outlooks, trends and developments impacting our complex global economy. Subscribe now for insights that will help you navigate the world we live in.
Episodes
Tuesday Jan 28, 2025
Tuesday Jan 28, 2025
In this episode of J.P. Morgan’s Making Sense, host Meridy Cleary from the FICC Market Structure team engages in an insightful discussion with Clare Witts, head of Equity APAC Market Structure. They delve into the evolving trading landscape across Asia's fixed income, FX, and equities markets. They also explore the significant regulatory changes and execution trends impacting both developed and emerging markets, with a particular focus on Japan, Korea and India.
Meridy and Clare highlight the ongoing efforts to improve foreign investor access, liquidity and overall market efficiency, while also examining the implications of index inclusions for India’s government bonds and Korea’s market structure reforms. The conversation further touches on the challenges of trade execution in a fragmented market and the rise of electronic trading across various asset classes in the region.
Listeners will gain valuable insights into how market participants are adapting to the rapid changes and what to expect in the upcoming year.
This episode was recorded on January 22, 2025.
The views expressed in this podcast may not necessarily reflect the views of JPMorgan Chase & Co, and its affiliates, together J.P. Morgan, and do not constitute research or recommendation advice or an offer or a solicitation to buy or sell any security or financial instrument. They are not issued by Research but are a solicitation under CFTC Rule 1.71. Referenced products and services in this podcast may not be suitable for you, and may not be available in all jurisdictions. J.P. Morgan may make markets and trade as principal in securities and other asset classes and financial products that may have been discussed. The FICC market structure publications, or to one, newsletters, mentioned in this podcast are available for J.P. Morgan clients. Please contact your J.P. Morgan sales representative should you wish to receive these. For additional disclaimers and regulatory disclosures, please visit www.jpmorgan.com/disclosures
© 2025 JPMorgan Chase & Company. All rights reserved.
Friday Jan 24, 2025
Friday Jan 24, 2025
In this episode, Federico Manicardi, Head of International Market Intelligence, and Victoria Campos, a team member, delve into the risk and reward dynamics for European equities following a robust year-to-date rally (with SXXP and SX5E indices up 5-7% YTD and 6-10% from November lows). They explore the factors driving this rally, from depressed technicals to stronger consumer data, while identifying sectors with the most favorable risk/reward profiles moving forward. The discussion also covers the European macroeconomic landscape, corporate earnings potential, political dynamics, and the potential impact of US tariffs. Federico and Victoria are joined by Eloise Goulder, Head of the wider Data Assets & Alpha Group.
This episode was recorded on January 22, 2025.
This podcast is intended for institutional clients only. The views expressed in this podcast may not necessarily reflect the views of J.P. Morgan Chase & Co, and its affiliates, together J.P. Morgan, and do not constitute research or recommendation advice or an offer or a solicitation to buy or sell any security or financial instrument. Referenced products and services in this podcast may not be suitable for you, and may not be available in all jurisdictions. J.P. Morgan may make markets and trade as principal in securities and other asset classes and financial products that may have been discussed. For additional disclaimers and regulatory disclosures, please visit www.jpmorgan.com/disclosures.
© 2025 JPMorgan Chase & Company. All rights reserved.
Tuesday Jan 21, 2025
Tuesday Jan 21, 2025
In this episode, Kumar Panja, EMEA head of the Capital Advisory Group at J.P. Morgan, engages in a compelling conversation with Amy Flikerski, Managing Director and head of the External Portfolio Management at CPP Investments. Delve into the intricacies of hedge fund management for both emerging and established hedge funds with a particular focus on how to approach CPP Investments – including team structure, the investment model and strategy preferences. This episode offers a wealth of knowledge for hedge fund managers seeking to understand how to engage with CPP Investments and how to navigate the current market dynamics.
To learn more about CPP Investments:
This episode was recorded on November 12th, 2024.
The views expressed in this podcast may not necessarily reflect the views of J.P. Morgan Chase & Co and its affiliates (together “J.P. Morgan”), they are not the product of J.P. Morgan’s Research Department and do not constitute a recommendation, advice, or an offer or a solicitation to buy or sell any security or financial instrument. This podcast is intended for institutional and professional investors only and is not intended for retail investor use, it is provided for information purposes only. Referenced products and services in this podcast may not be suitable for you and may not be available in all jurisdictions. J.P. Morgan may make markets and trade as principal in securities and other asset classes and financial products that may have been discussed. For additional disclaimers and regulatory disclosures, please visit: www.jpmorgan.com/disclosures/salesandtradingdisclaimer. For the avoidance of doubt, opinions expressed by any external speakers are the personal views of those speakers and do not represent the views of J.P. Morgan.
To find out more about our services, please contact markets.marketing@jpmorgan.com.
© 2025 JPMorgan Chase & Company. All rights reserved.
Tuesday Jan 14, 2025
Tuesday Jan 14, 2025
In this episode, Sunny Potharaju from the Positioning Intelligence team is joined by John Schlegel, head of the Global Positioning Intelligence team at J.P. Morgan. Their discussion focuses on the strong performance of hedge funds, particularly in crowded stocks, and the potential for continued performance into 2025. John and Sunny examine the setup for U.S. equities, noting a possible upcoming "buy the dip" opportunity, while acknowledging a more uncertain medium-term outlook. The episode concludes with broader insights into the positioning landscape in Europe and Asia. The Positioning Intelligence team sits within the wider Data Assets & Alpha Group.
This discussion follows episodes released on:
- November ’24 – A Post-Election Rally in U.S. Equities
- October ’24 – How High is Positioning in U.S. Equities
This episode was recorded on January 13, 2025.
The views expressed in this podcast may not necessarily reflect the views of J.P. Morgan Chase & Co and its affiliates (together “J.P. Morgan”), they are not the product of J.P. Morgan’s Research Department and do not constitute a recommendation, advice, or an offer or a solicitation to buy or sell any security or financial instrument. This podcast is intended for institutional and professional investors only and is not intended for retail investor use, it is provided for information purposes only. Referenced products and services in this podcast may not be suitable for you and may not be available in all jurisdictions. J.P. Morgan may make markets and trade as principal in securities and other asset classes and financial products that may have been discussed. For additional disclaimers and regulatory disclosures, please visit: www.jpmorgan.com/disclosures/salesandtradingdisclaimer. For the avoidance of doubt, opinions expressed by any external speakers are the personal views of those speakers and do not represent the views of J.P. Morgan.
© 2025 JPMorgan Chase & Company. All rights reserved.
Tuesday Jan 07, 2025
Tuesday Jan 07, 2025
In this episode, hosts Rama Variankaval, Global Head of Corporate Advisory, and Evan Junek, Global Head of Corporate Finance Advisory, explore the insights from J.P. Morgan’s 2025 Corporate Compass report. They highlight key economic trends and opportunities, examining the effects of global political shifts, anticipated growth and inflation, and the transformative potential of AI. The discussion also covers the impact of deregulation on smaller companies and M&A activity. Additionally, they address potential risks like geopolitical tensions and supply chain vulnerabilities, offering strategic insights for corporate leaders to navigate the rapid changes and uncertainties of 2025.
Click here to learn more about the Corporate Compass report: jpmorgan.com/CFA
This episode was recorded on December 19, 2024.
This material was prepared by certain personnel of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide and not the firm’s research department. It is for informational purposes only, is not intended as an offer or solicitation for the purchase, sale or tender of any financial instrument and does not constitute a commitment, undertaking, offer or solicitation by any JPMorgan Chase entity to extend or arrange credit or provide any other products or services to any person or entity.
© 2025 JPMorgan Chase & Company. All rights reserved.
Thursday Dec 19, 2024
Thursday Dec 19, 2024
In this episode, Fabio Bassi, head of Cross-Asset Strategy, hosts a comprehensive discussion with J.P. Morgan Research experts on the market and economic outlook for 2025. With a focus on inflation, geopolitical uncertainty and policy changes, the team provides insights into the expected trends in equities, currencies, commodities and more.
0:51 - Hussein Malik, head of Global Research
2:04 - Bruce Kasman, chief global economist
5:54 - Dubravko Lakos-Bujas, head of Global Market Strategy
10:36 - Jay Barry, head of Global Rates Strategy
15:53 - Meera Chandan, co-head of Global FX Strategy
21:11 - Stephen Dulake, co-head of Fundamental Research
24:57 - Luis Oganes, head of Global Macro Research
30:16 - Natasha Kaneva head of Global Commodities Strategy
34:57 - Fabio Bassi, head of Cross-Asset Strategy
This episode was recorded between November 29 - December 16, 2024.
This material (Material) is provided for your information only and does not constitute: (i) an offer to sell, a solicitation of an offer to buy, or a recommendation for any investment product or strategy, or (ii) any investment, legal or tax advice. The information contained herein is as of the date and time referenced in the Material and J.P. Morgan does not undertake any obligation to update such information. J.P. Morgan disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for the quality, accuracy or completeness of the information contained in this Material, and for any reliance on, or uses to which, this Material, is put, and you are solely responsible for any use to which you put such information. Without limiting any of the foregoing, to the fullest extent permitted by applicable law, in no event shall J.P. Morgan have any liability for any special, punitive, indirect, or consequential damages (including lost profits or lost opportunity), in connection with the information contained in this Material, even if notified of the possibility of such damages. Any comments or statements made herein do not necessarily reflect those of J.P. Morgan, its subsidiaries or its affiliates.
All materials and information shared with you are, unless otherwise indicated to you, proprietary and confidential to J.P. Morgan. You are hereby notified that any disclosure, dissemination, copying, distribution, or use of the information provided to you, in whole or in part, other than as expressly permitted by J.P. Morgan, is STRICTLY PROHIBITED. You are permitted to disclose the materials and information to your officers and employees on a need to know basis. Should you have any questions regarding this, please contact your usual J.P. Morgan contact. For further information please visit: https://www.jpmorgan.com/pages/disclosures/materialdisclaimer.
© 2024 JPMorgan Chase & Co. All rights reserved. J.P. Morgan is a marketing name for businesses of JPMorgan Chase & Co. and its subsidiaries and affiliates worldwide. JPMorgan Chase Bank N.A. (member of FDIC), J.P. Morgan Securities LLC (member of FINRA, NYSE and SIPC), J.P. Morgan Securities plc (member of the London Stock Exchange and authorized by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the PRA) and J.P. Morgan SE (authorised by the BaFin and regulated by the BaFin, the German Central Bank and the European Central Bank) are principal subsidiaries of JPMorgan Chase & Co. For legal entity and regulatory disclosures, visit: www.jpmorgan.com/disclosures. For additional regulatory disclosures, please consult: www.jpmorgan.com/disclosures.
Friday Dec 13, 2024
Friday Dec 13, 2024
In this episode, we hear from Chris Pulman, head of Macro Research and Chief Economist at Balyasny Asset Management. Chris discusses the role of Macro Research and Economics in creating value within the investment process; use of data, models, tech systems and generative AI within the macroeconomic space; the benefits of marrying fundamental expertise with technological processes; and the skillsets required to excel in this area. Chris is in discussion with Eloise Goulder, head of the Data Assets & Alpha Group at J.P. Morgan.
This episode was recorded on June 26th, 2024.
The views expressed in this podcast may not necessarily reflect the views of J.P. Morgan Chase & Co and its affiliates (together “J.P. Morgan”), they are not the product of J.P. Morgan’s Research Department and do not constitute a recommendation, advice, or an offer or a solicitation to buy or sell any security or financial instrument. This podcast is intended for institutional and professional investors only and is not intended for retail investor use, it is provided for information purposes only. Referenced products and services in this podcast may not be suitable for you and may not be available in all jurisdictions. J.P. Morgan may make markets and trade as principal in securities and other asset classes and financial products that may have been discussed. For additional disclaimers and regulatory disclosures, please visit: www.jpmorgan.com/disclosures/salesandtradingdisclaimer. For the avoidance of doubt, opinions expressed by any external speakers are the personal views of those speakers and do not represent the views of J.P. Morgan.
© 2024 JPMorgan Chase & Company. All rights reserved.
Thursday Dec 12, 2024
Thursday Dec 12, 2024
Join host Amaury Guzman and Kevin Foley, Global Head of Capital Markets, as they dive into the 2024 market surprises, implications from the U.S. election, and what lies ahead for global capital markets in 2025. Discover insights on refinancing trends, M&A activity, and the opportunities and challenges that could shape the capital markets landscape. Plus, get a sneak peek at the themes to watch at J.P. Morgan's upcoming 30th Global Leveraged Finance Conference.
This episode was recorded on December 4, 2024.
This material was prepared by certain personnel of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide and not the firm’s research department. It is for informational purposes only, is not intended as an offer or solicitation for the purchase, sale or tender of any financial instrument and does not constitute a commitment, undertaking, offer or solicitation by any JPMorgan Chase entity to extend or arrange credit or provide any other products or services to any person or entity.
© 2024 JPMorgan Chase & Company. All rights reserved.
Tuesday Dec 10, 2024
Tuesday Dec 10, 2024
In this episode, we hear from Debora Kantt, head of Corporate Futurism at J.P. Morgan. Debora discusses the importance of thinking ‘Future Back’, in overcoming behavioral biases and training the human brain to think in a non-linear way. She also provides examples of ‘weak signals’, or seeds of future trends, across the biocomputing and affective computing fields. Debora is in discussion with Eloise Goulder, head of the Data Assets & Alpha Group at J.P. Morgan.
Shownotes:
To learn more about the Data Assets & Alpha Group: https://www.jpmorgan.com/markets/market-data-intelligence
This episode was recorded on October 15, 2024.
The views expressed in this podcast may not necessarily reflect the views of J.P. Morgan Chase & Co and its affiliates (together “J.P. Morgan”), they are not the product of J.P. Morgan’s Research Department and do not constitute a recommendation, advice, or an offer or a solicitation to buy or sell any security or financial instrument. This podcast is intended for institutional and professional investors only and is not intended for retail investor use, it is provided for information purposes only. Referenced products and services in this podcast may not be suitable for you and may not be available in all jurisdictions. J.P. Morgan may make markets and trade as principal in securities and other asset classes and financial products that may have been discussed. For additional disclaimers and regulatory disclosures, please visit: www.jpmorgan.com/disclosures/salesandtradingdisclaimer. For the avoidance of doubt, opinions expressed by any external speakers are the personal views of those speakers and do not represent the views of J.P. Morgan.
© 2024 JPMorgan Chase & Company. All rights reserved.
Thursday Nov 21, 2024
Thursday Nov 21, 2024
In this episode we hear from Elaina Elzinga, Principal and Head of Active Manager Selection at Wellcome Trust. Elaina runs through portfolio construction when spanning investments from HFs to LOs to real assets, how use of data and AI in the investment space influences allocation decisions, and how these longer term investment goals interplay with Wellcome Trust’s mission and purpose. Elaina is in discussion with Eloise Goulder, Head of the Data Assets & Alpha Group at J.P. Morgan.
To learn more about Wellcome Trust: www.wellcome.org
To learn more about the Data Assets & Alpha Group: https://www.jpmorgan.com/markets/market-data-intelligence
Related podcasts:
Asset Allocation amid Climate risks, with Fidelity International Macroeconomist – January 2024
A Macroeconomic Approach to Investing, with Fulcrum’s Chief Risk Officer – February 2024
Recording date: 17 October 2024
The views expressed in this podcast may not necessarily reflect the views of J.P. Morgan Chase & Co and its affiliates (together “J.P. Morgan”), they are not the product of J.P. Morgan’s Research Department and do not constitute a recommendation, advice, or an offer or a solicitation to buy or sell any security or financial instrument. This podcast is intended for institutional and professional investors only and is not intended for retail investor use, it is provided for information purposes only. Referenced products and services in this podcast may not be suitable for you and may not be available in all jurisdictions. J.P. Morgan may make markets and trade as principal in securities and other asset classes and financial products that may have been discussed. For additional disclaimers and regulatory disclosures, please visit: www.jpmorgan.com/disclosures/salesandtradingdisclaimer. For the avoidance of doubt, opinions expressed by any external speakers are the personal views of those speakers and do not represent the views of J.P. Morgan.
© 2024 JPMorgan Chase & Company. All rights reserved.