Sign up to save your podcasts
Or
Share Global Commodities: At Any Rate: Party like a semiquincentenarian
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
Global Commodities: At Any Rate: Party like a semiquincentenarian
With the Fed cutting cycle commencing this week, consensus expectations of a straightforward series of quarter-point rate cuts conceals a broad spectrum of potential outcomes. Commodities have rallied 15% on average over previous benign cutting cycles yet have faced much stiffer headwinds over past recessionary-tinged rate-cutting cycles. That being said, the risk of renewed inflation is also high, especially in the US, which will celebrate its 250th anniversary in 2026. Reflation, accompanied by stronger underlying growth momentum, has produced the strongest and most broad-based positive environment for commodities, averaging +1.6% monthly returns. Natasha Kaneva is joined by Greg Shearer to discuss how commodities have performed over previous Fed cutting cycles and what to expect this time around.
Speakers:
Natasha Kaneva, Head of Global Commodities Research
Greg Shearer, Head of Base & Precious Metals Research
This podcast was recorded on September 19, 2025.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5082200-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.
View all episodes
By J.P. Morgan Global Research
4.2
7272 ratings
With the Fed cutting cycle commencing this week, consensus expectations of a straightforward series of quarter-point rate cuts conceals a broad spectrum of potential outcomes. Commodities have rallied 15% on average over previous benign cutting cycles yet have faced much stiffer headwinds over past recessionary-tinged rate-cutting cycles. That being said, the risk of renewed inflation is also high, especially in the US, which will celebrate its 250th anniversary in 2026. Reflation, accompanied by stronger underlying growth momentum, has produced the strongest and most broad-based positive environment for commodities, averaging +1.6% monthly returns. Natasha Kaneva is joined by Greg Shearer to discuss how commodities have performed over previous Fed cutting cycles and what to expect this time around.
Speakers:
Natasha Kaneva, Head of Global Commodities Research
Greg Shearer, Head of Base & Precious Metals Research
This podcast was recorded on September 19, 2025.
This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5082200-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.
More shows like At Any Rate
View all
Exchanges
971 Listeners
Bloomberg Intelligence
410 Listeners
Bloomberg Surveillance
1,173 Listeners
Notes on the Week Ahead
197 Listeners
Wall Street Breakfast
1,031 Listeners
Eye On The Market
290 Listeners
UBS On-Air: Market Moves
176 Listeners
Making Sense
60 Listeners
Thoughts on the Market
1,289 Listeners
Wall Street Week
60 Listeners
Global Data Pod
26 Listeners
FICC Focus
31 Listeners
The Macro Trading Floor
218 Listeners
The Markets
73 Listeners
The Credit Edge by Bloomberg Intelligence
26 Listeners