At Any Rate

In this podcast Francis Diamond and Frida Infante discuss the outlook for Euro area and UK inflation over the coming months and their thoughts on HICP and UK RPI inflation markets.       This podcast was recorded on 20 August 2025. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5026778-0 [https://www.jpmm.com/research/content/GPS-5026778-0] for more information; please visit www.jpmm.com/research/disclosures [http://www.jpmm.com/research/disclosures] for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.

In this podcast Khagendra Gupta, Morten Lund, and James Nelligan discuss recent developments and our views in Sweden and Norway macro, FX, and rates market.   This podcast was recorded on 15 August 2025. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5054858-0 [https://www.jpmm.com/research/content/GPS-4855621-0], https://www.jpmm.com/research/content/GPS-5052254-0, [https://www.jpmm.com/research/content/GPS-4855621-0]https://www.jpmm.com/research/content/GPS-5048039-0 [https://www.jpmm.com/research/content/GPS-4855621-0], https://www.jpmm.com/research/content/GPS-5057023-0 [https://www.jpmm.com/research/content/GPS-4855621-0], https://www.jpmm.com/research/content/GPS-5054895-0 [https://www.jpmm.com/research/content/GPS-4855621-0]   for more information; please visit www.jpmm.com/research/disclosures [http://www.jpmm.com/research/disclosures] for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.

Meera Chandan, Anezka Christovova and James Nelligan discuss the outlook for the dollar and the next catalysts following the recent consolidation, various scenarios for the Russia-Ukraine ceasefire and implications for DM and EM currencies in the region. A deep dive into GBP and Scandi central banks, as well as a discussion of our highest conviction views in the region also follows.   This podcast was recorded on 15 August 2025. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5054858-0 [https://www.jpmm.com/research/content/GPS-4855621-0], https://www.jpmm.com/research/content/GPS-5058610-0, [https://www.jpmm.com/research/content/GPS-4855621-0]https://www.jpmm.com/research/content/GPS-5056093-0 [https://www.jpmm.com/research/content/GPS-4855621-0]  for more information; please visit www.jpmm.com/research/disclosures [http://www.jpmm.com/research/disclosures] for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.

In this podcast Khagendra Gupta and Ipek Ozil discuss the drivers of US and Eurex futures roll and their outlook for Sep25/Dec25 bond futures rollover.   Speakers:   Ipek Ozil, Head of U.S. Interest Rate Derivatives Strategy Khagendra Gupta, Head of European Interest Rate Derivatives Strategy   This podcast was recorded on August 14, 2025.   This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5049823-0 [https://www.jpmm.com/research/content/GPS-5049823-0] and https://www.jpmm.com/research/content/GPS-5056091-0 [https://www.jpmm.com/research/content/GPS-5056091-0] for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.

This week, our Global FX & EM strategists, Patrick Locke, Antonin Delair and Anezka Christovova discuss recent developments for the dollar, takeaways from our suite of systematic FX signals,  and what’s behind our EM FX upgrade to OW this week. This podcast was recorded on 08 August 2025. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5035130-0 [https://www.jpmm.com/research/content/GPS-4855621-0] , https://www.jpmm.com/research/content/GPS-5049466-0 [https://www.jpmm.com/research/content/GPS-4855621-0]  for more information; please visit www.jpmm.com/research/disclosures [http://www.jpmm.com/research/disclosures] for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.