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

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

Arindam Sandilya, Junya Tanase, Patrick Locke and Octavia Popescu discuss the FX outlook in an action packed week of consequential G4 central bank meetings.

This podcast was recorded on 18 September 2026.

This communication is provided for informat... more

Since our last episode in early August, markets have faced a new wave of escalation in the Middle East, stressing commodity prices from energy to agriculture. To make matters even more complicated, the El Niño weather pattern is also in full swing. T... more

Rates strategists Jay Barry and Amanda Berke discuss recent moves in Treasuries, what we've learned from the September FOMC meeting, and implications for yields going forward.

Speakers:

Jay Barry, Head of Global Rates Strategy

Amanda Berke, US Rat... more

Speakers:

Stephen Dulake, Co-head of Fundamental research

Daniel Lamy, Head of European Credit Strategy Research

Gareth Davies, Head of European Corporate Credit Research

Nelson Jantzen, Head of US High Yield Bond & Leveraged Loan Strategy

Tarek... more

Key Facts

Contact Information
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Number of Listeners
Find out how many people listen to this podcast per episode and each month.

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Recent Guests

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
Junya Tanase
Strategist, JP Morgan
JPMorgan Chase & Co.
Episode: Global FX: Dollar Debate Corner (again), Yen, RBNZ/RBA
Ikue Saito
Strategist, JP Morgan
JPMorgan Chase & Co.
Episode: Global FX: Dollar Debate Corner (again), Yen, RBNZ/RBA
Ayomide Mejabi
Head of Frontier Strategy
JPMorgan Chase & Co.
Episode: EM Fixed Income: Summer of carry, but getting crowded?
Frida Infante
Guest expert from European Rate Strategy Team, JPMorgan
JPMorgan Chase & Co.
Episode: Global Rates: A Mixed Bag of Inflation Market Views
Amanda Berke
US rate strategist
JP Morgan Chase & Co.
Episode: US Rates: See you next (fiscal) year
Chris Hayward
Senior strategist on Ipek's team
JPMorgan
Episode: US Rates: “Truth” and consequences: The impact of President Trump's Truth Social posts on interest rate markets
Antonin Delair
Systematic FX strategist
JPMorgan Chase
Episode: Global FX: CPI/ USD, Model take-aways, EM rundown
Arindam Sandilya
Co-Head of FX Strategy
JP Morgan
Episode: Global FX: Payrolls prognosis, yen, GBP and HUF

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 312 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 States4 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
    Canada7 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
    Canada9 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
#229
United Kingdom/Business
Apple Podcasts
#211
Singapore/Top Podcasts
Apple Podcasts
#46
Hong Kong/Business
Apple Podcasts
#57
Singapore/Business
Apple Podcasts
#150
Chile/Business
Apple Podcasts
#165
Indonesia/Business

Talking Points

Recent interactions between the hosts and their guests.

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.
US Rates: And you’re not gonna reach my telephone
Q: Abiel, what was your high level read on the data?
Inflation was a bit firmer than expected, with a notable outlier in cell phone service, but the core picture remains firmer than the Fed would prefer, implying persistent upside risk to inflation.
Global Rates: Dissecting the sell-off in European rates, next week’s BoE meeting
Q: Do you expect the Bank of England to hike at the September meeting given the energy price moves?
No, the expectation is that the BoE keeps rates on hold in September, with potential for a 25 bp hike later in the year depending on energy price dynamics and inflation risks.
US Rates: Treasury Buyback Expansion
Q: Could a larger-than-announced buyback size or targeted purchases in specific CUSIPs meaningfully shift the curve, and is that sustainable?
Targeted, larger purchases could move the yield curve on the day, but sustainability is uncertain without broader debt-management changes and fiscal action; the market often reverts when the policy is not accompanied by fundamental shifts.
US Rates: Treasury Buyback Expansion
Q: Given the market's limited reaction to the initial buyback announcement, do you see sustainable impact if the Treasury cuts auction sizes further?
There would likely be a sizable impact on the day of such an action and in the short term, but lasting effects would require accompanying fiscal consolidation and broader structural changes; otherwise, effects tend to reverse over time.

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. Abiel Reinhart
2. Junya Tanase
3. Ikue Saito
4. Ayomide Mejabi
5. Frida Infante
6. Amanda Berke
7. Chris Hayward
8. Antonin Delair

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