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

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

Rates strategists Jay Barry and Amanda review the impact of the FOMC meeting on the US rates markets and preview the November refunding.

Speakers

Jay Barry, Head of Global Rates Strategy

Amanda Berke, US Rates Strategist

This podcast was recorded... more

While oil has stabilized, European natural gas has spiked to over 100 EUR/MWh for the first time since 2022, driven both by fundamentals and potential re-escalation in the Middle East. In this episode, we cover the news in energy markets and share fe... more

Meera Chandan, Patrick Locke, Anezka Christovova and James Nelligan review this week’s event risk including the Fed and BRL shock in the context of our market views, as well as previewing next week’s central bank meetings.

This podcast was recorded ... more

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

This podcast was recorded on 29 October 2026.

This communication is provided for information purpo... more

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Recent Guests

Amanda Berke
U.S. rates strategist
J.P. Morgan
Episode: US Rates: Between a rock and a hard place
Otar Dgebuadze
European natural gas analyst
J.P. Morgan
Episode: Global Commodities: Triple digit gas, again
Ben Ramsey
Head of emerging-markets sovereign credit strategy at J.P. Morgan
J.P. Morgan
Episode: EM Fixed Income: A busy calendar of elections and CBs
Tania Escobedo Jacob
Senior Latin America FX strategist at J.P. Morgan
J.P. Morgan
Episode: EM Fixed Income: A busy calendar of elections and CBs
James Nelligan
J.P. Morgan analyst based in London
J.P. Morgan
Episode: Global FX: GBP FX - UK Budget Preview
Tracey Allen
Head of agricultural commodities research
JPMorgan
Episode: Global Commodities: It costs a lot
Abiel Reinhart
U.S. economic research analyst at J.P. Morgan
J.P. Morgan
Episode: US Rates - US CPI & TIPS: On firmer footing
Grant Harris
Leads industry and policy thematics
JPMorgan Chase & Co.
Episode: In Focus: Critical Chemicals
Steven Palacio
Senior researcher on industry and policy thematics
JPMorgan Chase & Co.
Episode: In Focus: Critical Chemicals

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 States6 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
    Canada9 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
    Canadaa year 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
#167
United Kingdom/Business
Apple Podcasts
#86
Italy/Business
Apple Podcasts
#214
France/Business
Apple Podcasts
#187
Singapore/Top Podcasts
Apple Podcasts
#250
Hong Kong/Top Podcasts
Apple Podcasts
#57
Hong Kong/Business

Talking Points

Recent interactions between the hosts and their guests.

Global Rates: DM inflation, from mixed bag to common thread
Q: So maybe that's a good place to pivot to a story a little bit more idiosyncratic in France. We've seen a lot of volatility in Swapstread, Bonn Yields, seeing that volatility again today. Is that creating any interesting dynamics for inflation markets?
Infante says French fiscal and political developments have affected inflation-linked pricing. VAT increases could lift prices, while proposed VAT cuts on energy and essential goods could lower realized inflation. French front-end inflation spreads are historically stretched, and technical factors have also influenced intermediate spreads.
Global Rates: DM inflation, from mixed bag to common thread
Q: Frida, let's start with the UK and Europe. You're expecting inflation there to potentially rise at the front end. What's driving that?
Infante points to energy as the shared driver. Euro-area headline inflation rose mainly because of fuel, with limited energy pass-through into core so far. In the UK, stronger core data and expected household energy-bill increases make the effects more direct.
EM Fixed Income: Swimming upstream after Bangkok
Q: What were your impressions on the tone and the conversations you had with policymakers and investors?
Michael Loh identifies three recurring themes from the Bangkok meetings: the broadening but uneven impact of AI, geopolitics and economic imbalances involving China, and the energy shock. He also summarizes how these themes are affecting Asian growth and monetary policy.
EM Fixed Income: Swimming upstream after Bangkok
Q: What are you hearing as you process all the takeaways from our colleagues who were at the meetings, particularly as it relates to sovereign credit?
Ben Ramsey describes a constructive but increasingly selective market, with investors focusing on country-specific catalysts and relative value. He discusses crowded trades, restructuring risks and the differentiated outlook for several sovereign issuers.
Global FX: GBP FX - UK Budget Preview
Q: CFTC positioning for sterling back to all time short. How does that square with your positioning data?
Locke says futures positioning likely overstates sterling shorts, as options-flow measures show cable closer to flat and EUR/GBP modestly net short. Some sterling shorts could still be covered after the Budget, supporting the currency.

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. Amanda Berke
2. Otar Dgebuadze
3. Ben Ramsey
4. Tania Escobedo Jacob
5. James Nelligan
6. Tracey Allen
7. Abiel Reinhart
8. Grant Harris

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