Phoebe White

Teresa Ho, Head of US Short Duration Strategy at J.P. Morgan, and Phoebe White, Head of US Inflation Strategy at J.P. Morgan, dive into the complexities of funding markets and the upcoming Treasury refunding. Teresa unpacks recent pressures in the funding landscape, while Phoebe outlines how changes in fiscal projections impact Treasury supply. They discuss implications of ending quantitative tightening and explore Fed tools that could alleviate funding strains. Tune in for insightful analyses on how recent trends shape market dynamics!

Phoebe White, Head of U.S. Inflation Strategy at J.P. Morgan, and Ipek Ozil, Head of U.S. Interest Rate Derivatives Strategy, dive into crucial topics surrounding U.S. economic dynamics. They discuss the impact of delayed economic data on market sentiment and explain the intricacies of the Fed's Reserve Management Purchases. Phoebe clarifies how these purchases affect Treasury issuance, while Ipek touches on the implications for swap spreads and funding markets. Their insights shed light on potential liquidity shifts in 2026!

In this insightful discussion, Phoebe White shares her expertise on U.S. inflation and forecasts a path for Treasury yields, while Ipek Ozil delves into U.S. swap spreads and introduces compelling option strategies for the coming year. Khagendra Gupta presents his take on the volatility of German swap spreads, and Aditya Chordia analyzes the outlook for German yields and intra-EMU spreads against a backdrop of evolving political risks. Together, they provide a comprehensive view of global rates as we head towards 2026.

Phoebe White, Head of US Inflation Strategy at J.P. Morgan, anticipates a $1.96 trillion U.S. deficit and rising Treasury needs, while discussing T-bills' role and coupon increases. Aditya Chordia explains record euro-area gross issuance, primarily from Germany, despite stable net figures. Takafumi Yamawaki analyzes Japan's disciplined fiscal stance and its JGB issuance amid market burdens from BOJ adjustments. Ben Jarman highlights Australia's improving fiscal outlook and issuance cuts while looking at New Zealand's contrasting recovery trajectory.

Phoebe White, Head of US Inflation Strategy at J.P. Morgan, offers concise expertise on US rates and Treasury financing. They discuss Fed hold implications, why intermediate yields might tick up, labor market uncertainty and easing bets, and the February refunding plus how Treasury issuance and buybacks could evolve.

Phoebe White, Head of Inflation Strategy at JPMorgan, specializes in TIPS and inflation derivatives. She discusses the potential impact of a September interest-rate cut by the Federal Reserve on inflation expectations. Phoebe explains how Treasury Inflation-Protected Securities work as a hedge for investors and navigates the complexities of the TIPS market. She highlights the relationship between real yields and inflation, emphasizing trading strategies influenced by economic reports and Fed policies, while also delving into the importance of analyzing core CPI.

Mike Feroli, Chief U.S. Economist at J.P. Morgan, and Phoebe White, Head of U.S. Inflation Strategy, dissect the recent July employment report, revealing a modest rise in unemployment and wage growth declines. They analyze the participation rates and sector-specific job gains, while also addressing the broader economic growth of just 1%. The duo explores the Federal Reserve's potential for rate cuts amidst a softening economy, highlighting the market’s expectations for continued easing through next year.

Join Mike Feroli, Chief U.S. Economist, and Phoebe White, Head of U.S. Inflation Strategy, as they dissect the June jobs report. Topics include implications for rate cuts, consumer health, corporate balance sheets, and predictions on Fed actions and CPI reports.

Phoebe White, Head of U.S. Inflation Strategy, and Anthony Paolone, Co-Head of U.S. Real Estate Stock Research, analyze rent inflation trends post-pandemic. They discuss supply trends, varying rent increases, and the impact of wage inflation on rental affordability.

Phoebe White, Head of US Inflation Strategy, and Mike Feroli, Chief US Economist, analyze the May US employment report, future economic trends, and the impact of immigration policies on the economy. They discuss the increase in nonfarm payrolls, discrepancies in surveys, wage pressures, GDP growth expectations, potential interest rate cuts, and the Federal Reserve's future plans.