Teresa Ho

Teresa Ho, Head of U.S. Short Duration Strategy at J.P. Morgan, joins Phoebe White to delve into the implications of Quantitative Tightening's potential end. They explore the recent spike in SOFR and repo rates, attributing it to T-bill supply and coupon settlements. Teresa highlights that the anticipated $20bn/month runoff may not significantly alleviate funding pressures. They also discuss the limited impact of QT's end on yield outlooks, along with insights into inflation markets and break-even rates amid fluctuating oil prices.

Teresa Ho, Head of U.S. Short Duration Strategy at J.P. Morgan, joins Ipek Ozil to discuss pivotal changes in money market rates. They delve into the transition from EFFR to TGCR, highlighting TGCR's advantages as a more comprehensive benchmark. The duo analyzes recent funding volatility, particularly around corporate tax day, and explores the implications for quantitative tightening and reserve management. Their insights on repo dynamics and market behaviors provide a fascinating look at the future of U.S. rates.

Teresa Ho, Head of U.S. Short Duration Strategy at J.P. Morgan, shares her insights on stablecoins, explaining their mechanics and growing significance in finance. She discusses the implications of the GENIUS Act and contrasts stablecoins with traditional deposits and money market funds. Teresa also highlights a $300 billion market, driven by crypto correlation and emerging market dollarization. While expressing doubts about retail adoption, she sees potential for institutional use and cross-border payments, all amidst ongoing regulatory challenges.

Teresa Ho, Head of US Short Duration Strategy at J.P. Morgan, and Phoebe White, Head of US Inflation Strategy at J.P. Morgan, dive into the complexities of funding markets and the upcoming Treasury refunding. Teresa unpacks recent pressures in the funding landscape, while Phoebe outlines how changes in fiscal projections impact Treasury supply. They discuss implications of ending quantitative tightening and explore Fed tools that could alleviate funding strains. Tune in for insightful analyses on how recent trends shape market dynamics!

In this insightful discussion, Teresa Ho, Jonny Goulden, Meera Chandan, and Kunj Padh from J.P. Morgan explore the evolving role of stablecoins in the financial landscape. Teresa explains their function as digital cash and the regulatory impacts shaping their use. Jonny highlights emerging market dynamics driving adoption, while Meera discusses potential increases in dollar demand from global usage. Kunj analyzes current market impacts and correlations with Bitcoin, revealing stablecoins' untapped potential and challenges for corporate payments.