Rephonic
Artwork for At Any Rate
Emerging Markets
Federal Reserve
Inflation
European Central Bank
J.P. Morgan
Bank Of England
Interest Rates
Oil
Gold
US Dollar
Natural Gas
Japan
Fiscal Policy
China
Bank Of Japan
U.S. Dollar
Monetary Policy
Emerging Market Fixed Income
Iran
Euro Area

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
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Business

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Artwork for At Any Rate

Latest Episodes

Oil prices extended losses this week as oil flows through Hormuz ramped up to over 50% of pre-war levels. Recent reported data also suggests that the market relied more on demand destruction, as opposed to inventories, for its rebalancing. This promp... more

J.P. Morgan Rates strategists Jay Barry and Liam Wash discuss the current rates outlook, risks to the view, and what we can glean from past episodes of Fed mid-cycle hiking campaigns.

Speakers

Jay Barry - Head of Global Rates Strategy

Liam Wash – ... more

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

This podcast was recorded on 26 June 2026.

© 2026 JPMorgan Chase & Co. All rights reserved. This materia... more

This week, our Global FX Strategists respond to clients’ FAQs following mid-year outlook discussions. We also preview next week’s payrolls print for the dollar, and reflect on recent developments in CNY, GBP & CHF.

Speakers

Meera Chandan, Global FX... more

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Recent Guests

Nishant Poojary
Senior EMEA EM Sovereign Credit Strategist
JPMorgan Chase & Co.
Episode: EM Fixed Income: EM resilience amid renewed USD strength and idiosyncratic pitfalls
Arundham Sandhya
Global co-head of FX Strategy
JPMorgan Chase & Co.
Episode: Global FX: Broader impacts from the dollar bid
Mike Harrison
Senior EMEA EM Strategist
J.P. Morgan
Episode: EM Fixed Income: Assessing EM amid the global repricing of rates
Steven Palacio
Member of Industry and Policy Thematics Group in Global Research
JPMorgan Chase & Co.
Episode: In Focus: Frontier AI
Jahangir Aziz
Member of Industry and Policy Thematics Group in Global Research
JPMorgan Chase & Co.
Episode: In Focus: Frontier AI
Jay Barry
Head of Global Rates Strategy at JPMorgan
JPMorgan Chase & Co.
Episode: Global Rates – And now my fears, they come to me in threes
Tania Escobedo
Latam FX Strategies
JPMorgan Chase & Co.
Episode: EM Fixed Income: Parsing peace talks and payrolls
Bhupinder Singh
US equity strategist and head of thematic research
JPMorgan Chase & Co.
Episode: In Focus: Equity & Credit Update on AI CapEx
Nathaniel Rosenbaum
Head of US High-Grade Credit Strategy
JPMorgan Chase & Co.
Episode: In Focus: Equity & Credit Update on AI CapEx

Host

Meera Chandan
Co-Head of Global FX Strategy at JPMorgan; frequent host on episodes; core FX/rates strategist

Reviews

4.3 out of 5 stars from 308 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 States2 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
    Canada5 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
    Canada7 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 Korea2 years ago

Listeners Say

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

Listeners call out periodic audio quality issues and urge better recording setup for clarity.
Content broadly praised for depth on fixed income and macro, with strong practitioner insights.
Guests and topics are viewed as credible and technically rigorous by finance professionals.

Chart Rankings

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

Apple Podcasts
#175
United Kingdom/Business
Apple Podcasts
#223
Italy/Business
Apple Podcasts
#118
Singapore/Business
Apple Podcasts
#178
Switzerland/Business
Apple Podcasts
#178
Philippines/Business
Apple Podcasts
#189
South Africa/Business

Talking Points

Recent interactions between the hosts and their guests.

Global Commodities: Is that it?
Q: What is driving the current rebalancing in European gas markets, and how sustainable is it?
The rebalancing is driven by a combination of displaced gas supply from Qatar and UAE, waivers and substitutions from the United States and other regions, plus gradual ramp-ups in existing projects. Demand is absorbing about 40% of the supply increase, with storage injections and weather-related demand shifts helping stabilize prices through the summer, though risks remain if disruptions persist.
EM Fixed Income: EM resilience amid renewed USD strength and idiosyncratic pitfalls
Q: What is the latest base case for Senegal, and how might the debt restructuring unfold in terms of IMF involvement and recovery levels?
The base case has shifted toward IMF involvement with restructuring; scenarios include an IMF program with restructuring or continuing without an IMF program. Recovery would hinge on debt perimeter, residency/currency scope, and macro relief, with market prices already implying some coupon relief and potential capital losses before any rebound.
EM Fixed Income: EM resilience amid renewed USD strength and idiosyncratic pitfalls
Q: What are the most important idiosyncratic stories right now, and how do they translate into trading opportunities?
Key stories include Hungary's progress on EU funds and potential euro entry, Israel's desynchronized policy cycle with idiosyncratic inflation drivers, and Turkey/Colombia political developments; these offer nuanced trading angles beyond broad dollar/US-centric themes.
EM Fixed Income: EM resilience amid renewed USD strength and idiosyncratic pitfalls
Q: How is the backdrop of stronger growth and potential higher rates affecting EM sovereign credit risk, and which regions look most resilient?
Stronger growth appears to dominate the credit picture, with resilience in commodity exporters and Latin America/Africa leading spreads. The macro narrative is supportive enough to keep risk assets bid, though refinancing costs may rise as higher coupon levels come into play.
Global Commodities: What’s New?
Q: What about getting this back? What are our thoughts on gas prices from that perspective? Is there any knock-on effects that could feed back into the US gas market?
US Henry Hub is expected to remain relatively insulated from global gas price swings, continuing to be driven by domestic fundamentals, with LNG export capacity near full and limited incentive for a rally unless global demand surges or LNG prices create new export dynamics.

Audience Metrics

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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 JPMorgan Global Research cover a wide swath of macro themes, with a heavy emphasis on fixed income, currencies, commodities, and the evolving impact of technology on markets. Episodes frequently thread together policy signals, central bank expectations, energy price shocks, and geopolitical risk to map multi-asset implications for traders and investors. A notable throughline is the use of data-driven, cross-asset discussion (FX, rates, commodities, equities) led by senior strategists who translate complex market dynamics into tactical takeaways, including inflation trajectories, Fed policy paths, and the rippling effects of AI-related CapEx on credit and equity markets. A distinguishing feature is the consistent Juxtaposition ... more

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4. UBS On-Air: Market Moves
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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. Nishant Poojary
2. Arundham Sandhya
3. Mike Harrison
4. Steven Palacio
5. Jahangir Aziz
6. Jay Barry
7. Tania Escobedo
8. Bhupinder Singh

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