Making Sense

How bond ETFs are shaping the trading landscape

As innovation in the fixed income landscape continues to evolve, Meridy Cleary from the FICC Market Structure & Liquidity Strategy team is joined by Matt Legg, Global Head of Delta One & ETF Sales, and Julie Abbett, Head of US ETF Sales for Equities and Credit, to discuss the role of ETFs in fixed income, the rise of ETF options, European and U.S. markets, and more.  

This episode was recorded on October 22, 2024

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

© 2024 JPMorgan Chase & Company. All rights reserved.

The surge in ETFs: A great growth story

What’s behind the ETF market’s dramatic growth and what are the trends to watch? Join Bram Kaplan, head of Americas Equity Derivatives Strategy, to find out. Bram sits down with Tom Salopek from Cross Asset Strategy to explore the surge in ETF popularity, the move from active to passive funds and the impact of the economy on investor flows. Plus, could there be a replay of 2018’s “Volmageddon”?

Find out more in the ETF market guide from J.P. Morgan Research.

This episode was recorded on October 10, 2024.

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 2024, JPMorganChase & Co. All rights reserved.

Tech Stars Conference: What's next for EMEA tech?

Get insights from the J.P. Morgan Tech Stars Conference in London. Join Katharina Ochs from the EMEA Equity Capital Markets team as she chats with Aloke Gupte, Co-Head of International Equity Capital Markets, and Matt Gehl, Co-Head of EMEA Technology Investment Banking. They explore the tech industry's outlook into 2025, focusing on rising US interest in European companies, the state of the tech IPO market, and the recovery of private capital deals.

This episode was recored on October 17, 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 to provide any other products or services to any person or entity. 

© 2024 JPMorgan Chase & Company. All rights reserved. 

T+1 deep dive, part 2: Future outlook for Asia and Europe

In part 2 of our T+1 deep dive, we explore the initiatives driving the much-anticipated move to T+1 settlement in the U.K., the E.U., and parts of Asia. The discussion addresses the current timeline for this transition, as well as the legislative and operational hurdles that need to be overcome to make T+1 a reality in these regions. Tune in for a lively conversation as we assess T+1 settlement in these markets. Joining us are Emma Johnson, Executive Director on J.P. Morgan’s EMEA Custody Product team; Sahil Shah, Executive Director on J.P. Morgan’s APAC Custody Product team; and Jack Parker, Executive Director on J.P. Morgan’s U.S. Custody Product team. And if you haven’t already, be sure to listen to part 1 of this episode which covers T+1 in the U.S. and neighboring markets. Listen to Part 1 here: https://www.jpmorgan.com/insights/podcast-hub/market-matters/t-plus-one-deep-dive-lessons-learned-from-us-rollout

This episode was recorded on October 1, 2024. 

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.

© 2024 JPMorgan Chase & Company. All rights reserved.

T+1 deep dive, part 1: Lessons learned from the US rollout

In part 1 of our T+1 deep dive, we unpack the move to T+1 settlement in the U.S. and neighboring markets. Our discussion covers why the U.S. transitioned to T+1 settlement in May 2024 and examines the factors behind its largely successful implementation. Along the way, the industry has learned valuable lessons that can be leveraged by other markets considering accelerated settlement. Joining us are Jack Parker, Executive Director on J.P. Morgan’s U.S. Custody Product team; Emma Johnson, Executive Director on J.P. Morgan’s EMEA Custody Product team; and Sahil Shah, Executive Director on J.P. Morgan’s APAC Custody Product team. Tune in for a wide-ranging conversation on the U.S. experience, and don’t miss part 2 of this episode, which focuses on T+1 settlement in the E.U., the U.K., and APAC.

This episode was recorded on October 1, 2024.

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.

© 2024 JPMorgan Chase & Company. All rights reserved.

The four W's driving food insecurity: War, weather, waste and water

Explore the pressing issue of global food insecurity in this episode of Research Recap on J.P. Morgan's Making Sense podcast. Join Tracey Allen, Head of Agricultural Commodities Strategy, and Joyce Chang, Chair of Global Research, as they delve into the structural factors driving food insecurity, such as war, weather, waste, and water. With 282 million people experiencing acute hunger in 2023, an increase of 24 million from the previous year, the discussion highlights the complex interplay of geopolitical instability, climate change, and resource management on food security. Discover how these factors impact global markets and the potential solutions to mitigate these challenges.

 

This episode was recorded on October 10, 2024.

 

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 2024, JPMorganChase & Co. All rights reserved.

Trading Insights: How high is positioning in US equities?

In this episode we hear from John Schlegel regarding how high positioning looks post the stellar rally in US equities.  John discusses the recent drivers of US equity strength, the main buyers of the rally so far, where this leaves positioning, and the risk / reward for equities from here.  John also touches on equity positioning across Europe and APAC.  John Schlegel, Head of Global Positioning Intelligence is in discussion with Eloise Goulder, Head of the Global Data Assets & Alpha Group.

 

This episode was recorded on October 14, 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.

Trading Insights: An intersection between quant and fundamental investing, with Matt Jones, Global PM at Fidelity

In this episode we hear from Matt Jones, Global Portfolio Manager at Fidelity International. Matt discusses the intersection of quant techniques with the fundamental investment process, the benefits and challenges of this approach and the evolution data use in this strategy over the last two decades. Matt Jones is in discussion with Eloise Goulder, Head of the Data Assets & Alpha Group at JP Morgan.

 

This episode was recorded on September 9, 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.

Payments Unbound: The future of cross-border payments

Join Leana Ferguson, Payment Sales and Relationship Manager for Financial Institutions at J.P. Morgan, as she delves into the future of cross-border payments with Vijay Lulla, EMEA Head of Cross-Currency Payments at J.P. Morgan. This episode expands on the Payments Unbound series, available on jpmorgan.com, exploring the challenges and technological advancements shaping the landscape of cross-border transactions. From the complexities of real-time payments across 195 countries to the transformative potential of blockchain technology, Leana and Vijay discuss the current state and future prospects of global payments. Discover how innovations like tokenized commercial bank deposits, virtual accounts, and APIs are paving the way for a more efficient, secure, and transparent payment ecosystem.

 

Learn more about cross-border payments here: https://www.jpmorgan.com/payments/payments-unbound/volume-3/cross-border-payment-modernization

 

Sources:

• How many countries are there in the world? (2024) - Total & List | Worldometer (worldometers.info)
• https://www.volt.io/real-time-payments-world-map/
• Cross-border payment modernization | J.P. Morgan (jpmorgan.com)
• Bridging ASEAN through regional payment connectivity | UOB Insights (uobgroup.com)
• PayNow Singapore (abs.org.sg)
• Project Nexus to transform global payments, going live in 2026 - The Asian Banker
• Project Nexus: enabling instant cross-border payments (bis.org)
• Terms and conditions of use (bis.org)

 

The views and opinions expressed herein are those of the author and do not necessarily reflect the views of J.P. Morgan, its affiliates, or its employees. The information set forth herein has been obtained or derived from sources believed to be reliable. Neither the author nor J.P. Morgan makes any representations or warranties as to the information’s accuracy or completeness.  The information contained herein has been provided solely for informational purposes and does not constitute an offer, solicitation, advice or recommendation, to make any investment decisions or purchase any financial instruments, and may not be construed as such.

© 2024 JPMorgan Chase & Co. All rights reserved. JPMorgan Chase Bank, N.A. Member FDIC. Deposits held in non-U.S. branches are not FDIC insured.  Non-deposit products are not FDIC insured. The statements herein are confidential and proprietary and not intended to be legally binding. Not all products and services are available in all geographical areas. Visit jpmorgan.com/paymentsdisclosure for further disclosures and disclaimers related to this content.

 

Unpacking September's unexpectedly robust jobs report

The U.S. labor market exceeded expectations in September, adding 254,000 nonfarm payrolls and surpassing all forecasts. Join Phoebe White, Head of U.S. Inflation Strategy at J.P. Morgan, and Mike Feroli, Chief U.S. Economist, as they break down the latest employment report and its far-reaching implications. In this episode, Phoebe and Mike analyze the surprising resilience of the labor market, the interplay between labor data and consumer spending, and the impact of rising average hourly earnings. They also discuss the Federal Reserve's potential responses, balancing the dual mandates of controlling inflation and maintaining employment. Tune in for an in-depth exploration of the current economic landscape and what it could mean for the future.

 

This episode was recorded on October 4, 2024.

 

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 2024, JPMorganChase & Co. All rights reserved.