At Any Rate

What is the price of oil, really? While Brent crude is trading around $115, our pricing model based on market fundamentals suggests $94. How does this discrepancy arise? In this episode, we go through the basics of crude oil prices, as well as discuss the effects created by geography and risk premia.

 

Speaker: 

Natasha Kaneva, Head of Global Commodities

 

This podcast was recorded on October 23, 2026.

This communication is provided for information purposes only. Institutional clients can view the related report at https://jpmm.com/research/content/GPS-5469783-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. Copyright 2026 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. Without prior written consent from J.P. Morgan, it is prohibited to (A) use or share any material, commentary, information or other data received from J.P. Morgan or an authorized third-party ("J.P. Morgan Data") in any artificial intelligence ("AI") systems or models, or (B) use automated means, including robots, crawlers, web-scrapers or other automated tools or scripts, to access, collect, extract or harvest any J.P. Morgan Data, including scraping of user data, content, metadata, pricing information or other information.

Arindam, Patrick and Octavia discuss the placidity of currency markets amid cross-asset risk-off jitters and the outlook for G3 FX ahead of key central bank meetings.

 

This podcast was recorded on 23 October 2026.

This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5499880-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures.

Copyright 2026 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. Without prior written consent from J.P. Morgan, it is prohibited to (A) use or share any material, commentary, information or other data received from J.P. Morgan or an authorized third-party ("J.P. Morgan Data") in any artificial intelligence ("AI") systems or models, or (B) use automated means, including robots, crawlers, web-scrapers or other automated tools or scripts, to access, collect, extract or harvest any J.P. Morgan Data, including scraping of user data, content, metadata, pricing information or other information.

In this podcast Francis Diamond and Aditya Chordia discuss the upcoming October ECB meeting as well as the recent further widening in French spreads this week.

 

Speakers

Francis Diamond, Head of European Rates Strategy
Aditya Chordia, Rates Strategy 

 

This podcast was recorded on 23 October 2026.

This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5504446-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures.

Copyright 2026 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. Without prior written consent from J.P. Morgan, it is prohibited to (A) use or share any material, commentary, information or other data received from J.P. Morgan or an authorized third-party ("J.P. Morgan Data") in any artificial intelligence ("AI") systems or models, or (B) use automated means, including robots, crawlers, web-scrapers or other automated tools or scripts, to access, collect, extract or harvest any J.P. Morgan Data, including scraping of user data, content, metadata, pricing information or other information.

We preview the UK Budget in terms of risks around GBP FX, what the outlook is from here for sterling and a discussion on positioning. 

 

Speakers:

James Nelligan

Patrick Locke

 

This podcast was recorded on 21 October 2026.

This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5497547-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures.

Copyright 2026 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. Without prior written consent from J.P. Morgan, it is prohibited to (A) use or share any material, commentary, information or other data received from J.P. Morgan or an authorized third-party ("J.P. Morgan Data") in any artificial intelligence ("AI") systems or models, or (B) use automated means, including robots, crawlers, web-scrapers or other automated tools or scripts, to access, collect, extract or harvest any J.P. Morgan Data, including scraping of user data, content, metadata, pricing information or other information.

Anezka Christovova, Ben Ramsey and Michael Loh discuss the latest market developments and their impacts for the EM fixed income asset class.

 

This podcast was recorded on 22 October 2026.

This communication is provided for information purposes only.

Copyright 2026 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. Without prior written consent from J.P. Morgan, it is prohibited to (A) use or share any material, commentary, information or other data received from J.P. Morgan or an authorized third-party ("J.P. Morgan Data") in any artificial intelligence ("AI") systems or models, or (B) use automated means, including robots, crawlers, web-scrapers or other automated tools or scripts, to access, collect, extract or harvest any J.P. Morgan Data, including scraping of user data, content, metadata, pricing information or other information.