10y real UST yield (nom yield minus core CPI y-o-y), chart #JPMorganAM

This week's chart highlights global rate hikes, with the #Fed expected to be less hawkish, boosting the case for international equities - chart #JPMorganAM

With data centre buildout continuing at pace, US large language model #LLM capabilities have noticeably improved, chart #JPMorganAM

Even as #oil prices have moved higher, investors are no longer pricing a worst-case disruption scenario that would inhibit the economy, and by extension the stock market, chart #JPMorganAM

As a percentage of disposable income, #gasoline expenditure only sits at about 2.5%—one of the lowest levels in the past 65y, chart #JPMorganAM

The U.S. and #China are building parallel but increasingly interconnected #AI ecosystems, with the U.S. leading at the frontier and China exerting growing influence on cost and diffusion, chart
#JPMorganAM

How is the US #China #AI race evolving?
The biggest implication is around the economics of intelligence, as the cost of a given level of AI capability is falling quickly, chart Stephanie Aliaga #JPMorganAM

The U.S. dollar continues to dominate FX reserves, international debt, international loans, trade invoicing, international payments and FX transactions, chart #JPMorganAM

De-dollarization: Is the US dollar losing its dominance? Discover the factors threatening the dominance of the world’s reserve currency and how this is playing out across markets, chart #JPMorganAM

This week's chart highlights tight high yield spreads and rising defaults, mainly in CCC credits, but overall market health remains strong, chart #JPMorganAM

10y UST nom and real yields, chart #JPMorganAM

10y UST term premium, chart #JPMorganAM

The components of 10y UST yields, chart #JPMorganAM

With 7-months still to go until the 2027 French presidential elections, #French Govt bonds are coming under pressure. A combination of higher oil prices and expectations of tougher #ECB ahead are pushing upwards on Govt bond yields globally, chart #JPMorganAM

If the #eurozone economic recovery doesn't come from industry, is there really nothing left that could pull the #German economy out of the slump,
chart #JPMorganAM

market expectations for policy rate changes in 2026, chart #JPMorganAM

1y inflation #swap for #euro zone, UK and US - chart #JPMorganAM

#hyperscalers are issuing so much debt that they may be causing a supply-demand issue at the long end of the yield curve. In 2026 so far, debt issuance by the 5 #hyperscalers plus NVIDIA is ~$320 bn chart #JPMorganAM