Rachel Reese

Josh Franklin, U.S. banking editor at the Financial Times, delves into JPMorgan's strategic withdrawal of nearly $350bn from Fed reserves to buy Treasuries, emphasizing the liquidity risks involved. Rachel Reese, a Markets reporter, highlights the bullish sentiment among investors as fund managers' cash holdings plummet to record lows amid an AI-driven stock market surge. They also discuss the implications of rising unemployment and the intriguing rally in Venezuela's defaulted bonds tied to hopes for regime change.