Making Sense

Bruce Kasman, Chief Global Economist at J.P. Morgan, shares his insights on the projected economic landscape for 2025. He discusses the resilience of the global economy despite high interest rates and varying central bank responses. Topics include currency dynamics, particularly the yen's potential appreciation, and the robust outlook for global credit markets. Additionally, he forecasts bullish trends for gold and other metals, contrasting them with a bearish oil price prediction, underscoring the complex interplay of factors like trade policies and U.S. elections.

In this engaging discussion, Chris Pulman, Head of Macro Research and Chief Economist at Balyasny Asset Management, dives into the transformative effects of AI and automation on macroeconomic processes. He shares insights on how generative AI enhances data analysis, freeing analysts from repetitive tasks and expediting economic forecasting. Chris emphasizes the importance of marrying fundamental expertise with tech advancements while addressing the evolving role of research analysts in finance. His visionary ideas, including the concept of an 'AI economist,' spark intriguing possibilities for the future.

In this engaging discussion, Kevin Foley, the Global Head of Capital Markets at J.P. Morgan, shares expert insights on surprising market trends from 2024 and what to expect in 2025. He delves into refinancing trends, the impact of the U.S. election, and the evolving landscape of M&A and IPO activities, highlighting cautious optimism driven by economic resilience. Foley also examines the complex interplay of fiscal and monetary policies amid inflationary pressures, while cautioning about global capital risks and geopolitical developments that shape the market's future.

Debora Kantt, Head of Corporate Futurism at J.P. Morgan, specializes in strategic foresight and future-back thinking. She discusses innovative approaches to overcoming cognitive biases and the necessity for non-linear thinking in predicting futures. Debora shares insights on emerging trends in biocomputing and affective computing, emphasizing their transformative potential across industries. Alongside Eloise Goulder, she highlights the importance of recognizing weak signals and adopting adaptable strategies for future success in investing.

Elaina Elzinga, Principal and Head of Active Manager Selection at Wellcome Trust, shares her expertise on long-term investment strategies that support scientific progress. She discusses how data and AI are reshaping allocation decisions in portfolio construction. Elaina highlights Wellcome Trust's mission in funding transformative health research and the integration of climate considerations in investments. Together with Eloise Goulder from J.P. Morgan, they explore navigating market volatility and identifying companies with strong sustainability practices.

In this episode, the Data Assets & Alpha Group review recent U.S. equity strength and discuss the potential for a further rally into year-end.  They discuss implications of the U.S. elections, recent macro and micro data and sectors which look to offer better risk / reward.  They also discuss the relative underperformance of European equities and the risk / reward in China.  Andrew Tyler, head of Global Market Intelligence, and Federico Manicardi, head of International Market Intelligence, are in discussion with Eloise Goulder, head of the Global Data Assets & Alpha Group. Note that this discussion follows episodes released on: July ’24 – US Equities at All-Time Highs Jun ’24 – An Underperformance in European Equities   This episode was recorded on November 19, 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.

Bruce Kasman, Chief Economist at J.P. Morgan, offers insights into the potential impact of a second Trump presidency. He discusses how U.S. trade policies and tariffs could affect inflation and growth both domestically and globally. The conversation highlights market reactions and challenges such as currency fluctuations. Kasman also analyzes the implications for U.S.-China trade relations, recent tariff effects on global commodities, and the economic shockwaves that emerging markets may face. It's a deep dive into the future of the global economy.

In this episode, we hear from Deepak Maharaj, Head of Equities and Cross Asset QIS Structuring at J.P. Morgan. Deepak discusses the rapid development of Equities QIS strategies - from the technology enhancements to the use of LLMs in product development - and where this space is likely to evolve in future. Deepak is in discussion with Eloise Goulder, Head of the Data Assets & Alpha Group at J.P. Morgan.   Shownotes: To learn more about the Data Assets & Alpha Group: https://www.jpmorgan.com/markets/market-data-intelligence   Related podcasts: Extending the trend, with JP Morgan’s Lead CTA Structurer Time Traveler: A Look Back in Time with Fredrik Giertz – Part 1 Time Traveler: A Look Back in Time with Fredrik Giertz – Part 2   This episode was recorded on October 7, 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.

In this insightful discussion, Eddie Wen, Global Head of Digital Markets at J.P. Morgan, and Chi Nzelu, Global Head of FICC eTrading at J.P. Morgan, delve into the transformation of hedging market risk in the age of electronic trading. They explore the shift from traditional to network-centric trading models, emphasizing enhanced liquidity and the role of data analytics. The conversation touches on the evolving strategies market makers and buy-side participants use, highlighting the move towards multi-strategy approaches and the future impact of AI on risk management.

Dive into the world of early-stage hedge fund investing with Kumar Panja, EMEA Head of Capital Advisory Group and Sam Diedrich, Managing Director and Head of Absolute Return at Partners Capital Investment Group. Uncover strategies for emerging managers, the power of SMAs, and the art of probabilistic thinking. Perfect for aspiring managers and savvy investors seeking a competitive edge. This episode was recorded on July 16, 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. To find out more about our services, please contact markets.marketing@jpmorgan.com