Making Sense

Marcus Imbert, Head of Portfolio Solutions NA at J.P. Morgan, and Gustav Vogel, Head of Portfolio Trading EMEA at J.P. Morgan, bring deep portfolio trading and cross-market expertise. They compare EMEA and US market structures. They describe ETF roles in liquidity and hedging. They discuss thematic and proxy baskets, cross-currency solutions, and how portfolio trading behaved in 2025 volatility.

James Janoskey, a J.P. Morgan natural resources banker focused on clean tech finance, and Dr. Sarah Kapnick, a climate scientist turned climate advisory lead, discuss rising electricity demand from AI data centers, grid modernization and resilience, a nuclear renaissance including SMRs, and innovations in long‑duration, non‑lithium storage. They also tie energy security to geopolitics and supply‑chain risks.

Sian Goh, Partner and Head of Research and Strategy at Dymon Asia, leads macro and micro research for an Asia-focused multi-strategy fund. She discusses Asia’s diverse markets and supply chain shifts, the rise of Gen Z retail investors and changing flows, AI’s impact on regional tech supply chains, and how local cultural trends shape global consumer tastes.

Fawaz Chaudhry, CIO of Horizon Global Partners and thematic equity investor, on why value is shifting from software to chips. Short-term winners are semiconductors, foundries and tools as AI infrastructure booms. He also covers inflationary shocks, commodities and precious metals, geographic shifts toward Asia in hardware, and rising defense and vertical supply-stack trends.

Tarek Hamid, head of North American credit research & strategy who analyzes geopolitics, energy and AI impacts on credit. Kevin Foley, global head of capital markets who runs issuance and market strategy. They discuss how Middle East conflict and oil swings feed into rates and spreads. They explore which industries AI may reshape, market appetite for new supply, and M&A’s role in 2026 issuance.

John Sim, head of Securitized Products Research at J.P. Morgan, brings mortgage-market and housing supply-demand expertise. He walks through recent price slowdowns and regional risks. He breaks down current mortgage and ARM dynamics, how pending bank capital reforms could shave rates, and thresholds that might revive sales. Rental market fatigue and single-family versus multifamily trends also come up.

Derek Chollet, head of the JPMorgan Chase Center for Geopolitics and foreign policy expert, outlines the U.S.–Israel military operation against Iran and its strategic timeline. He discusses campaign scope, air-and-naval tactics versus ground invasion, the impact of Iran’s leadership crisis, and short- to medium-term disruptions and regional economic opportunities.

Scott Lucas, Head of Markets Digital Assets at J.P. Morgan, focuses on digital-asset market initiatives. Sandy Kaul, Head of Innovation at Franklin Templeton, leads tokenized fund solutions. They discuss tokenization milestones, regulatory shifts that enabled public-chain use, interoperability and settlement-token choices, on-chain wrappers linking TradFi and DeFi, and practical steps institutions can take to experiment.

Mike Hanson, a senior economist known for macro and inflation analysis, unpacks January CPI readings and why inflation might hover near 3% in 2026. He discusses energy and food price dynamics. He examines tariffs and their slow pass-through to durable goods. He covers housing, rents and how CPI versus PCE differences could shape Fed decisions.

James Fraser, Head of EMEA Payments at J.P. Morgan, is a payments and digital innovation lead with deep regional trade insight. He discusses Middle East market transformation and infrastructure growth. He covers regulatory trends and fintech and data infrastructure uptake. He explores treasury and payment evolution and the shifting landscape for investment and talent.