Making Sense

In this episode, the DA&A Group focus on macro developments across US markets, discussing the Fed, inflation / growth data, and tactical views across sectors/factors. They also discuss what positioning and flows suggest for markets, looking at positioning across the Prime book (i.e. from Hedge Fund clients) as well as investor types such as Retail, CTAs, and in ETFs. This episode features John Schlegel, Head of Positioning Intelligence and Andrew Tyler, Head of US Market Intelligence. This episode was recorded on February 27, 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 © 2023 JPMorgan Chase & Company. All rights reserved.  

In this episode, Peng Cheng, Head of Big Data and AI Strategies, explores US retail trading activity.  He covers the extent to which retail investors have been buying equities amid the January market rally, the way in which they have shifted activity recently by sector and trade structure, and the market microstructure dynamics created as a result of this activity.  Peng also describes the content and data sets he makes available to institutional investors through his research.  Peng is interviewed by Eloise Goulder, Head of the Data Assets & Alpha Group. This episode was recorded on February 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 © 2023 JPMorgan Chase & Company. All rights reserved.

The passage of recent U.S. legislation, including the Bipartisan Infrastructure Law, Inflation Reduction Act, and CHIPS and Science Act, is expected to transform how the world creates and uses energy. Join Rama Variankaval, Global Head of Corporate Finance Advisory and Center for Carbon Transition, and Heather Zichal, Head of Global Sustainability at JPMorgan Chase & Co., as they explore how mobilizing capital at scale could reshape sectors like clean tech, startups to enterprise companies and the broader economy.  This episode was recorded on February 16, 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.

One of the biggest drivers of market structure change has been the growth of electronic trading. In this podcast, Kate Finlayson, Head of FICC Market Structure, Chi Nzelu, Head of FICC eTrading, and Andreas Koukorinis, Head of Credit and Public Finance eTrading, discuss the emerging themes surrounding electronification across asset classes. This episode was recorded on January 31, 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.

In this episode, the group provides a deep-dive into their Signal from the Noise framework, explaining the context, framework and methodology. They also explain their recent expansion of the framework to cover Europe, China and Japan indices, and regional variations in the signals. Eloise Goulder, Head of the Data Assets & Alpha Group, is interviewed by Edwina Lowe, Data Product Specialist within the team. This episode was recorded on February 8, 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 © 2023 JPMorgan Chase & Company. All rights reserved.

In this episode, the group dig into the YTD rally in global equities, looking at the extent to which it has been a pain trade, with shorts squeezing and popular ‘momentum’ equities underperforming.  They then dive into their Global Signal from the Noise framework to assess equity signals from here.  Eloise Goulder, Head of the Data Assets & Alpha Group, is interviewed by Edwina Lowe, Data Product Specialist within the team. This episode was recorded on February 6, 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 © 2023 JPMorgan Chase & Company. All rights reserved.

This podcast explores key themes and drivers of market structure change that are likely to be top of mind for buy- and sell-side market participants. Kate Finlayson, Penn Nee Chow and Meridy Cleary discuss the FICC Market Structure team’s annual watchlist, including EU clearing dynamics, the move to T+1 settlement, the trading venue perimeter, energy markets and much more. This episode was recorded on January 31, 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.

How does a self-professed “accidental banker” from Australia become a Global Chair of Investment Banking at J.P. Morgan’s New York headquarters?    In this episode, Jennifer Nason speaks to Catherine Guan from J.P. Morgan’s Corporate Finance Advisory team. Jennifer led J.P. Morgan’s Technology, Media and Telecommunications global client practice for more than two decades and is now a member of our Investment Banking Executive Committee. She reflects on the rapid industry changes and navigating challenging times, from the tech bubble to COVID-19. Plus, hear about Jennifer’s proudest moments while at J.P. Morgan and her advice for the next generation of female investment bankers.  This episode was recorded on October 4, 2022. 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.

In this episode the DA&A Group focus on European equity markets, following the tremendous rally since September ‘22 in which the Stoxx600 has regained c.2/3rds of 2022 losses. They hone-in on reasons for the rally, sentiment in the region, and possible impediments to further market strength. In this episode Eloise Goulder, Head of the Data Assets and Alpha Group, interviews Krupa Patel, Head of International Market Intelligence. This episode was recorded on January 23, 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 © 2023 JPMorgan Chase & Company. All rights reserved.

Stimulus, value, capital and investment — these are the four key themes that emerged from the 2023 “10 Striking Facts” report from our Corporate Finance Advisory team and captured in our latest podcast. Rama Variankaval, Global Head of J.P. Morgan’s Corporate Finance Advisory and Center for Carbon Transition, catches up with Evan Junek from the Corporate Finance Advisory team to unpack these themes for boards, CEOs and senior management and discuss how will they impact corporate decision-making in the year ahead. This episode was recorded on January 13, 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.