Making Sense

May Jobs Report

Michael Feroli, Chief US Economist, and Samantha Azzarello, Head of Content Curation and Strategy, discuss the May payrolls report.

This episode was recorded on June 2, 2023.

This communication is provided for information purposes only. Please visit www.jpmm.com/research/disclosures for important disclosures. JPMorgan Chase & Co. or its affiliates and/or subsidiaries (collectively, J.P. Morgan) normally make a market and trade as principal in securities, other financial products and other asset classes that may be discussed in this communication.

 

This communication has been prepared based upon information from sources believed to be reliable, but J.P. Morgan does not warrant its completeness or accuracy except with respect to any disclosures relative to J.P. Morgan and/or its affiliates and an analyst's involvement with any company (or security, other financial product or other asset class) that may be the subject of this communication. Any opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice. Past performance is not indicative of future results. This communication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. J.P. Morgan Research does not provide individually tailored investment advice. Any opinions and recommendations herein do not take into account individual circumstances, objectives, or needs and are not intended as recommendations of particular securities, financial instruments or strategies. You must make your own independent decisions regarding any securities, financial instruments or strategies mentioned or related to the information herein. Periodic updates may be provided on companies, issuers or industries based on specific developments or announcements, market conditions or any other publicly available information. However, J.P. Morgan may be restricted from updating information contained in this communication for regulatory or other reasons. This communication may not be redistributed or retransmitted, in whole or in part, or in any form or manner, without the express written consent of J.P. Morgan. Any unauthorized use or disclosure is prohibited. Receipt and review of this information constitutes your agreement not to redistribute or retransmit the contents and information contained in this communication without first obtaining express permission from an authorized officer of J.P. Morgan.

Copyright 2023, JPMorganChase & Co. All rights reserved.

The Highs and Lows of the High Yield Market

In this episode, Kathleen Darling picks back up with Brian Tramontozzi as they dig into the high yield market, exploring the latest trends and opportunities. From primary issuance activity to demand for higher rated issuers, hear how investors are reacting to market volatility and pricing a potential recession.

This episode was recorded on May 24, 2023. 

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 to provide any other products or services to any person or entity.

© 2023 JPMorgan Chase & Company. All rights reserved.

Opportunities for Borrowers Navigating Uncertain Markets

Join Kathleen Darling from J.P. Morgan's Debt Capital Markets team as she sits down with Brian Tramontozzi, Head of North American Leveraged Finance Capital Markets, to discuss the latest trends and outlook in the leveraged loan market this year. Gain deeper insights into market dynamics, refinancings, interest rates and more.

This episode was recorded on May 24, 2023. 

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 to provide any other products or services to any person or entity.

© 2023 JPMorgan Chase & Company. All rights reserved.

Data Assets & Alpha Group: Diving Into US Equities (Positioning, Catalysts and the Path From Here)

In this episode, the team dives into US equities, focusing on the growth / inflation / policy backdrop and what this could mean for market direction in the near-term. They discuss scenarios around the debt ceiling, recent equity factor rotations, and how investors are positioned for the more bearish outcomes. Andrew Tyler (Head of US Market Intelligence) and John Schlegel (Head of Global Positioning Intelligence) are interviewed by Eloise Goulder, Head of the Data Assets & Alpha Group.

This episode was recorded on May 25, 2023.

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”), 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 and 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: https://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.

© 2023 JPMorgan Chase & Company. All rights reserved.

What’s the Impact of China’s Reopening?

Join our Greater China economists Haibin Zhu and Grace Ng for a discussion on China’s reopening and the latest economic developments. Explore key markets and topics including real estate, inflation and consumer behavior. Will the economy continue to rebound?

This episode was recorded on May 18, 2023. 

This communication is provided for information purposes only. Please visit www.jpmm.com/research/disclosures for important disclosures. JPMorgan Chase & Co. or its affiliates and/or subsidiaries (collectively, J.P. Morgan) normally make a market and trade as principal in securities, other financial products and other asset classes that may be discussed in this communication.

 

This communication has been prepared based upon information from sources believed to be reliable, but J.P. Morgan does not warrant its completeness or accuracy except with respect to any disclosures relative to J.P. Morgan and/or its affiliates and an analyst's involvement with any company (or security, other financial product or other asset class) that may be the subject of this communication. Any opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice. Past performance is not indicative of future results. This communication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. J.P. Morgan Research does not provide individually tailored investment advice. Any opinions and recommendations herein do not take into account individual circumstances, objectives, or needs and are not intended as recommendations of particular securities, financial instruments or strategies. You must make your own independent decisions regarding any securities, financial instruments or strategies mentioned or related to the information herein. Periodic updates may be provided on companies, issuers or industries based on specific developments or announcements, market conditions or any other publicly available information. However, J.P. Morgan may be restricted from updating information contained in this communication for regulatory or other reasons. This communication may not be redistributed or retransmitted, in whole or in part, or in any form or manner, without the express written consent of J.P. Morgan. Any unauthorized use or disclosure is prohibited. Receipt and review of this information constitutes your agreement not to redistribute or retransmit the contents and information contained in this communication without first obtaining express permission from an authorized officer of J.P. Morgan.

Copyright 2023, JPMorganChase & Co. All rights reserved.

From IPOs to AI: Deep Dive on Tech Investment Banking

Join host Evan Junek as he catches up with Chris Grose, Co-Head of Technology Investment Banking for North America, to uncover the key themes and insights shared at J.P. Morgan’s 51st Annual Technology, Media and Communications Conference. They explore the latest market challenges and opportunities shaping the tech banking sector, including IPO pipelines, M&A trends, activism efforts, AI and more. 

This episode was recorded on May 17, 2023.

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 to provide any other products or services to any person or entity.

© 2023 JPMorgan Chase & Company. All rights reserved.

Data Assets & Alpha Group: A Conversation with Anna Stupnytska, Global Macroeconomist at Fidelity International

In this episode, Anna Stupnytska, Global Macroeconomist at Fidelity International, is in conversation with Eloise Goulder, Head of the Data Assets & Alpha Group. Anna runs through key risks facing the global economy, from rising interest rates and credit tightening to persistent inflation headwinds. She also touches on the recent evolution of data use within the macroeconomic process, from the rise in higher frequency activity data to more sophisticated climate modeling.

 

To learn more about the topics discussed today:

https://professionals.fidelity.co.uk/articles/expert-opinions/2023-03-09-tracking-net-zero-progress-too-little-not-too-late-1678357283576 

https://professionals.fidelity.co.uk/articles/expert-opinions/2023-05-05-top-down-capital-market-assumptions-climate-crisis-1683281608356 

 

This episode was recorded on May 22, 2023.

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”), 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 and 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: https://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.

© 2023 JPMorgan Chase & Company. All rights reserved.

FICC Market Structure: What’s All the Buzz Around T+1?

It's official – the U.S. and Canada have decided to shorten the standard settlement cycle from two days after trade date (T+2) to T+1, scheduled to go live in May 2024. How might this shift impact day-to-day trading? And what will firms need to consider? Kate Finlayson and Meridy Cleary discuss the scope of products, cross-border dynamics, knock-on impacts, a potential T+0 future, and much more.

This episode was recorded on May 16, 2023

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, 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

© 2023 JPMorgan Chase & Company. All rights reserved.

Data Assets & Alpha Group: Is the China Recovery Theme Fading?

Recent activity data in China suggests a loss in momentum vs the re-opening recovery seen earlier this year.  As such, in this episode the team discuss recent developments in China and the implications for risk-reward for Chinese equities; they also turn to European equities which have arguably been amongst the greatest beneficiaries of the China recovery theme in the DM world year-to-date. Krupa Patel, Head of International Market Intelligence, is interviewed by Eloise Goulder, Head of Data Assets & Alpha Group.

This episode was recorded on May 15, 2023.

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”), 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 and 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: https://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.

© 2023 JPMorgan Chase & Company. All rights reserved.

The Rise of Generative AI

In this episode of Research Recap, Mark Murphy, Head of U.S. Enterprise Software Research, and Gokul Hariharan, Co-Head of Asia Pacific Technology, Media and Telecom Research, discuss the rise of generative AI. What are the benefits and drawbacks of the technology, and how will it transform the way companies work?

This episode was recorded on April 24, 2023. 

This communication is provided for information purposes only. Please visit www.jpmm.com/research/disclosures for important disclosures. JPMorgan Chase & Co. or its affiliates and/or subsidiaries (collectively, J.P. Morgan) normally make a market and trade as principal in securities, other financial products and other asset classes that may be discussed in this communication.

 

This communication has been prepared based upon information from sources believed to be reliable, but J.P. Morgan does not warrant its completeness or accuracy except with respect to any disclosures relative to J.P. Morgan and/or its affiliates and an analyst's involvement with any company (or security, other financial product or other asset class) that may be the subject of this communication. Any opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice. Past performance is not indicative of future results. This communication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. J.P. Morgan Research does not provide individually tailored investment advice. Any opinions and recommendations herein do not take into account individual circumstances, objectives, or needs and are not intended as recommendations of particular securities, financial instruments or strategies. You must make your own independent decisions regarding any securities, financial instruments or strategies mentioned or related to the information herein. Periodic updates may be provided on companies, issuers or industries based on specific developments or announcements, market conditions or any other publicly available information. However, J.P. Morgan may be restricted from updating information contained in this communication for regulatory or other reasons. This communication may not be redistributed or retransmitted, in whole or in part, or in any form or manner, without the express written consent of J.P. Morgan. Any unauthorized use or disclosure is prohibited. Receipt and review of this information constitutes your agreement not to redistribute or retransmit the contents and information contained in this communication without first obtaining express permission from an authorized officer of J.P. Morgan.

Copyright 2023, JPMorganChase & Co. All rights reserved.