Rephonic
Artwork for At Any Rate
Federal Reserve
Emerging Markets
Oil
Natural Gas
Gold
Inflation
European Central Bank
US Dollar
United States
Japan
J.P. Morgan
Bank Of England
U.S. Dollar
Japanese Yen
Strait Of Hormuz
LNG
Bank Of Japan
Copper
China
Euro

Analysts from J.P. Morgan Global Research take a closer look at the stories behind some of the biggest trends, themes and developments in markets today.

PublishesDailyEpisodes100Founded7 years ago
Number of ListenersCategory
Business

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Artwork for At Any Rate

Latest Episodes

Oil is flowing, and natural gas might be starting to follow suit. LNG tanker crossings have posted the busiest week since March, dragging Qatar’s estimated liquefaction capacity utilization to the highest level since the war began. But can this conti... more

Our Global FX Strategists Pat Locke, Meera Chandan, Tania Escobedo & James Nelligan break down the biggest event of the week - Brazil’s first-round election - and the implications for BRL. They then discuss the outlook for EUR with European spreads a... more

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

This podcast was recorded on 08 October 2026.

This communication is provided for information purposes ... more

In this podcast, Samantha Azzarello interviews Grant Harris and Steve Palacio on the subtle yet foundational nature of Critical Chemicals, their significance to the United States and China, and what cautionary lessons can be drawn from them.

Speaker... more

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Recent Guests

Greg Shearer
Head of Basin Precious Metals Research at JPMorgan
JPMorgan Chase & Co
Episode: Global Commodities: The final 11%
Tracey Allen
Head of Agricultural Commodities Strategy
JPMorgan Chase & Co. (JP Morgan Global Commodities Research)
Episode: Global Commodities: The ways of water
Tarek Hamid
Leads North American Credit Research and Strategy
JPMorgan
Episode: Key Takeaways: European Leveraged Finance Conference 2026
Nelson Jantzen
High Yield and Leveraged Loan Strategist
JPMorgan
Episode: Key Takeaways: European Leveraged Finance Conference 2026
Takafumi Yamawaki
Head of Japan Fixed Income Research
JPMorgan Chase & Co.
Episode: BOJ Preview: Global Market Implications
Abiel Reinhart
From US Economics team, providing data-driven inflation analysis
JP Morgan Chase & Co
Episode: US Rates: And you’re not gonna reach my telephone
Ikue Saito
Strategist, JP Morgan
JPMorgan Chase & Co.
Episode: Global FX: Dollar Debate Corner (again), Yen, RBNZ/RBA
Ben Jarman
Strategist, JP Morgan
JPMorgan Chase & Co.
Episode: Global FX: Dollar Debate Corner (again), Yen, RBNZ/RBA
Junya Tanase
Strategist, JP Morgan
JPMorgan Chase & Co.
Episode: Global FX: Dollar Debate Corner (again), Yen, RBNZ/RBA

Hosts

Natasha Kaneva
Host of several JPMorgan research segments focusing on commodities and macro strategy.
Anezka Christovova
EM strategist focusing on EM FX and carry.

Reviews

4.3 out of 5 stars from 297 ratings
  • Sound Quality

    I follow many JPM shows. The sound quality can be quite poor. Please have speakers use higher quality sound equipment. It can be quite difficult to hear speakers.

    Apple Podcasts
    2
    The Real GOGO
    United States5 months ago
  • Terrible sound quality

    It is shocking that the almighty JP Morgan doesn't have money to invest in a decent studio or editing. The contents are pretty good, when you can hear them!!!!! Please put some money in new equipment or hire a competent sound editor. We can barely hear them sometimes. There are huge volume and clarity differences between the people talking. Good content, terrible sound quality.

    Apple Podcasts
    1
    Edxs
    Canada8 months ago
  • Good themas but low quality sound

    It is shocking that the almighty JP Morgan doesn't have money to invest in a decent studio or interview procedures. The contents are pretty good, when you can hear them!!!!! Please put some money in new equipment. To be fair, it may not be your studio, but from the people that you interview. We can barely hear them sometimes. Take them to a studio!

    Apple Podcasts
    2
    Edxs
    Canada10 months ago
  • Great content, terrible audio

    Please invest in a better audio recording setup!

    Apple Podcasts
    3
    Rm77410
    United States2 years ago
  • Great for specific numbers but

    Sometimes hard to understand, needs to work on diction

    Apple Podcasts
    3
    NOPE:(((((
    South Korea3 years ago

Listeners Say

Key themes from listener reviews, highlighting what works and what could be improved about the show.

Listeners want higher audio quality and clearer recordings.
Fans appreciate data-driven market insights and depth on fixed income and macro topics.
Some critics note coverage occasionally drifts into non-core themes, but core audience remains engaged.
Positive reception of guest expertise and practical market takeaways, despite audio issues.

Chart Rankings

How this podcast ranks in the Apple Podcasts, Spotify and YouTube charts.

Apple Podcasts
#120
United Kingdom/Business
Apple Podcasts
#56
Poland/Business
Apple Podcasts
#87
Singapore/Business
Apple Podcasts
#97
Netherlands/Business
Apple Podcasts
#121
Hong Kong/Business
Apple Podcasts
#148
South Korea/Business

Talking Points

Recent interactions between the hosts and their guests.

Global Commodities: The final 11%
Q: How would you describe what is happening in the copper markets?
Copper remains bullish due to tight concentrate supply, a China-driven demand pull, and potential further disruptions from policy or weather events, which could push prices higher as we approach year-end.
BOJ Preview: Global Market Implications
Q: Ayako, in practice, how much influence does the US have on the BOJ decision-making, given Secretary Yellen's comments and broader US stance?
Even without explicit White House pressure, the BOJ has shown that it tracks broad policy signals; the US comments tend to validate the need to avoid excessive government interference, keeping the BOJ behind the curve but allowing a faster catch-up if needed.
Global Commodities: The ways of water
Q: What should markets watch in terms of fertilizer and energy costs for farmers next year?
The titling factor will be ammonia and nitrous fertilizer prices, which are tied to gas/energy costs and regional disruptions; monitoring ship windows and strait chokepoints, as well as the farm gate diesel costs, will be critical for forecasting input expenses and planting decisions.
Global Commodities: The ways of water
Q: Tracey, let's start with oil: what is the current view on price drivers given the geopolitical backdrop and supply routes?
The price path will depend on how much inventories are drawn and how much demand is weakened; while conflicts push risk premiums, policy responses and the way physical markets clear could keep Brent around current levels rather than spiking, unless flows are disrupted further.
US Rates: And you’re not gonna reach my telephone
Q: How does that impact inflation pricing in the near term?
Softness in overall price readings, when excluding the telephone spike, suggests near-term inflation pricing may remain muted, but core inflation remains elevated, keeping pressure on the Fed to stay vigilant and potentially hike later this year.

Audience Metrics

Listeners, social reach, demographics and more for this podcast.

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Frequently Asked Questions About At Any Rate

What is At Any Rate about and what kind of topics does it cover?

Analyses from a JPMorgan Global Research cohort unpack macro themes driving markets, with a focus on fixed income, FX, commodities, and energy. Episodes frequently blend data-driven modeling with forward-looking commentary on policy shifts, central bank dynamics, geopolitical risks, and how events from energy prices to fiscal policy shape rates, currencies, and commodity markets. A standout pattern is the breadth of topics—ranging from Treasury funding and debt management to LNG, sanctions, and the carry trade—delivered through expert, cross-team discussions. The show often features senior strategists and researchers who translate complex market moves into actionable takeaways for institutional investors, asset managers, and corporate buyer... more

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1. Making Sense
2. Global Data Pod
3. The Markets
4. UBS On-Air: Market Moves
5. Thoughts on the Market

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At Any Rate launched 7 years ago and published 100 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on At Any Rate?

Recent guests on At Any Rate include:

1. Greg Shearer
2. Tracey Allen
3. Tarek Hamid
4. Nelson Jantzen
5. Takafumi Yamawaki
6. Abiel Reinhart
7. Ikue Saito
8. Ben Jarman

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