Alternative Realities: Shipping's geopolitical hedge
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This year has seen significant disruption in trade, driven by tariffs and policy uncertainty. Countries and businesses are navigating these challenges in real time to keep the flow of trade moving smoothly. On this episode, Aaron Mulvihill is joined by Andy Dacy, Head of the Global Transportation Group at J.P. Morgan Asset Management. With over 30 years of experience in the transportation sector, Andy offers a wealth of knowledge and insight. Together, they explore how the current trade and tariff turmoil is impacting the transportation sector, the ways shipping patterns have adapted to geopolitical events worldwide, the potential for reviving shipbuilding in the United States, and the exciting opportunities that exist in transportation beyond shipping.
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Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify
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What's behind muni moves?
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Municipal bonds have struggled so far in 2025 as increased issuance and elevated volatility have weighed on prices. However, with risks to the current economic expansion rising, the case for munis has only grown more compelling. On a tax-equivalent basis, muni yields are higher relative to Treasuries and compete with those offered by corporate credit. Additionally, the muni yield curve is steeper than other markets, meaning investors are compensated more for extending duration. At the same time, they have less credit risk. Not only do state balance sheets look healthy but across credit ratings, municipal bond default rates have been consistently lower than those of corporate bonds. All this said, the sector is not without its challenges. Federal spending cuts, tariffs and restrictive immigration policies could disrupt activity across municipalities, although these impacts will be felt differently across sectors and regions.
On this episode of Insights Now, Gabriela Santos is joined by Neene Jenkins, Head of Municipal Credit Research, to discuss Neene’s outlook for the sector.
Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify
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Alternative Realities: Growth equity's new frontier
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With economic uncertainty slowing exits and borrowing costs remaining high, investors are becoming more selective in their targets. Meanwhile, groundbreaking advancements in AI and other technologies are driving compelling growth stories, yet those not involved in the startup and growth phases risk missing out on significant value creation before these companies hit the stock market. On this episode, Aaron Mulvihill is joined by Paris Heymann, co-managing partner of Growth Equity Partners at J.P. Morgan Asset Management, who has an impressive career in venture and growth investing. They explore key themes affecting venture and growth investing, including how venture capital is adapting to longer holding periods, strategies for valuations and pricing in the current environment, the transformative impact of AI and the convergence of public and private markets.
Resources:
Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify
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Uncovering Opportunities in Emerging Market Debt
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In the world of fixed income markets, investors are constantly navigating through a landscape marked by shifting economic dynamics and global diversification trends. As emerging market debt gains traction amid recent policy changes and currency fluctuations, the allure of higher yields and diversification opportunities becomes increasingly compelling. In this episode of Insights Now, join Gabriela Santos and Janet He, Head of EM Sovereign Research, as they explore the potential benefits and considerations of incorporating emerging market debt into investment portfolios.
Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify
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From Europe to Asia: Trends in alternative investments
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Over the last two decades, the alternative investment industry has undergone significant changes globally as investors at all levels increasingly seek the unique returns and diversification benefits these assets offer within their portfolios. With the growing popularity of alternative investments, there's an increasing need for thought leadership to guide investors through the historic and current dynamics of various alternative asset classes.
In this episode, Aaron Mulvihill is joined by Kerry Craig and Aaron Hussein, both Global Market Strategists at J.P. Morgan Asset Management. Together, they will delve into the alternative investment industry across different markets worldwide and share valuable insights gathered from clients on the road.
Resources:
Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify
Listen to the latest insights from Dr. David Kelly, Chief Global Strategist, and Gabriela Santos, Chief Strategist for the Americas at J.P. Morgan Asset Management, as they sit down with a variety of thought leaders for a conversational breakdown of big ideas, future trends, emerging topics, and their investment implications, helping to inform the building of stronger long-term investment plans.
Portugal