#tariff burden—defined as the share of total inflows that firms spend on tariffs—falls unevenly across the economy. As shown above, across JPMorgan ‘s full U.S. sample it rose by 2.32x to 0.8% post-2025, chart #JPMorganAM

(pivotal)
#international outflows have increased slightly since late 2025 but remain below the trend of domestic outflows, chart #JPMorganAM

This week's chart highlights global #PMIs at multi-year highs, signaling resilient growth but keeping rates higher for longer amid sticky #inflation - chart #JPMorganAM

Despite continued disruptions to #energy supply, the global economy has shown remarkable resilience, notes #JPMorganAM

#growth and #value divergence is a result of the rebalancing methodology utilized by Russell, the index provider, chart #JPMorganAM

Both economic growth and corporate #earnings have consistently exceeded expectations. Largely driven by the #AI build-out, but accompanied with breadth across industries and sectors, chart #JPMorganAM

(my two cents) #France
The move in the spread serves as a key measure of waning investor confidence in #ECB’s monetary austerity, chart #JPMorganAM

The rise in bond yields was driven mostly by rising #real yields rather than heightened #inflation expectations, over the same period, 10y UST real yield rose by 117bp and global real yield rose by 91bp, chart #JPMorganAM

Higher rates are a double-edged sword for private credit: floating rate coupons rise and duration risk stays low, but borrowers feel the squeeze, chart #JPMorganAM

As large-cap sponsors scale multi-strategy credit platforms, they are changing how #liquidity is created, distributed and tested under stress, chart #JPMorganAM

#earnings have picked up across the board, with small- and mid-caps’ earnings continuing to outpace those of large-caps, chart #JPMorganAM

As global investors trim or diversify away from crowded #AI trades, #India ’s equity market is emerging as the world's largest, liquid #AI hedge, chart #JPMorganAM

This week's chart highlights that #Mag7 tech firms are best positioned to absorb higher rates, keeping the #AI investment cycle intact, chart #JPMorganAM

Global supply chains appear to be holding up well, despite ongoing energy flow disruptions, chart #JPMorganAM

#Bonds have naturally become more attractive as yields continue to climb. But so have equities, as multiples have compressed. As such, the #equity risk premium is roughly where it began the year, chart Kriti Gupta #JPMorganAM

If tighter monetary policy reflects stronger economic growth, resilient demand and healthy corporate earnings, the stock market can withstand higher bond yields, chart Kriti Gupta #JPMorganAM

The #Fed is raising rates to firm its perception as a credible #inflation fighting institution, chart Jordan Jackson #JPMorganAM

OpenAI’s GPT-6 #Astra was trained on >100,000 current-generation #Nvidia systems; in contrast, Moonshot #AI ’s #Kimi K3 was trained on 20,000 older #Nvidia #chips - chart #JPMorganAM

#Anthropic began the year with 1-2 GW of compute, but according to a Sept 6 report has now committed to pay for access to another 15 GW of power that it will access over the next few years, chart #JPMorganAM

UST faces 3-challenges in trying to constrain bond yields from rising: (i) growth appears very strong relative to today’s #Fed Funds rate, one proxy: current conditions (yellow dots) are much closer to prior Fed tightening episodes (red) than easing ones (green)… chart #JPMorganAM