Liquidity Insights Overview | J.P. Morgan Asset Management

Liquidity Insights

Discover our vast array of liquidity insights covering global investment news and trends that may impact your cash portfolios

Flight to quality

LATEST LIQUIDITY COMMENTARY

Hong Kong Budget 2011/22 - Is the glass half full or half empty

Hong Kong's 2021-22 budget was announced recently. Although there were a few specific implications for short-term interest rates, the budget and the government’s economic plans will have significant longer term implications for HKD cash investors.

RBA Divergent Difficulties

Cash investing remains extremely challenging with institutional investors trapped between an extremely dovish Reserve Bank of Australia (RBA) and markets pricing in inflation and steepening yield curves.

Chinese taper tantrum

The surprise withdrawal of liquidity by the People’s Bank of China in the last week of January triggered a spike in short-term interest rates. Aidan Shevlin, International Head of Liquidity Fund Management, shared his perspectives on China’s monetary policy.

China’s onshore corporate bond market – understanding recent market volatility

China’s bond market has seen an unusual wave of defaults over the past month – triggering a jump in credit spreads and raising investor concerns. Find out the implications to cash investments and why independent credit research remains important.

RBA's further rate cuts - when low is not low enough

The RBA cut base rates and announced the introduction a traditional quantitative easing program “to support job creation and the recovery of the Australian economy from the pandemic”. This was by far the most wide-ranging monetary policy actions by the RBA – with significant implications for the AUD interest rates and investors.

HIBOR – History does not necessarily repeat itself

Escalating political and trade tensions, strong international demand for HKD and increasing connection with China, have weakened the Linked Exchange Rate System (LERS) – with significant implications for HKD cash investors.

Reserve Bank of Australia: Able but not willing

The recent Melbourne lockdown and uneven global recovery have increased market speculation that the RBA will intervene further to support the recovery – with significant implications for the AUD and short-term interest rates.

Interbank Offered Rate (IBOR) Transition: The impact on Asia-Pacific Markets

Majority of Asia-Pacific markets administer and maintain their own IBORs, and are responding to IBOR transition differently.

Market & Portfolio Commentary

Read the latest review of Global Liquidity market and portfolio commentary across the Americas, Asia Pacific, as well as Europe and UK.

The surprising strength of HKD – Implications for interest rates

HKD has been trading on the strong side of its convertibility since late March. Factors accounting for that include Hibor-Libor spreads, IPO demands and HKMA’s interventions.

China’s interest rate pivot

The combination of a central bank policy pivot, better economic data and market technical factors contrived to end China’s bond bull market – but is the upward momentum sustainable, and what are the implications for investors?

Understanding zero interest rates

We examine how ZIRP works, its impacts, likely timeframe, whether we expect rates to go negative (spoiler: we don’t) and options available to liquidity investors.

Navigating through liquidity events and market volatility

Our investment team navigated through the recent market volatility and, with the help of our clients, weathered through the market storm.

A letter from our CEO John Donohue

Hear how Global Liquidity stayed steadfast in our commitment to clients over the past two months.

A look into Libor reform and current elevated spreads

Libor spreads are elevated, indicating cheapness in the funding markets, but we expect them to normalize in the near to medium term.

The Hong Kong Monetary Authority has stepped up

Learn from Global Liquidity Portfolio Manager, Aidan Shevlin, about latest monetary policies in Hong Kong and how that impacts HKD interest rates and investors.

At a pivotal moment, taking a deep dive into our USD government funds

Surging demand for U.S. Treasury bills (Tbills), in a “flight to quality” sparked by the coronavirus pandemic, created unusual market conditions.

Singapore Dollar – no longer defying gravity: Implications for cash investors

The Covid-19 outbreak has accentuated the negative implications for international trade, as well as domestic productivity and tourism in Singapore.

Implications of COVID-19 outbreak for short term interest rates

The recent coronavirus (2019-nCoV) outbreak in China has increased investors’ trepidation and financial market uncertainty.

Leveraging the power of cash segmentation

The most effective strategy incorporates a clear investment policy, well-defined goals and parameters for liquidity, quality and return.

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Cash investment policy statement

A cash investment policy statement lets an organization define its short-term investment objectives and the strategies for achieving them.

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Managing your Renminbi cash needs an expert guide

We've been offering renminbi solutions since 2005, combining global expertise with local knowledge to help you navigate this complex market.

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Case studies

Read about companies with specific cash management challenges and the solutions when they worked with J.P. Morgan Asset Management.

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John T. Donohue

Head of Global Liquidity

24 years with J.P. Morgan

33 years in the Industry

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Aidan Shevlin

Head of International Liquidity Fund Management

25 years with J.P. Morgan

25 years in the Industry

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Lan Wu

Investment Specialist and Fund Manager

10 years with J.P. Morgan

13 years in the Industry

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Andy Chang

Credit analyst

7 years with J.P. Morgan

12 years in the Industry

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Dave Martucci

Portfolio Manager, Global Head of Managed Reserves

21 years with J.P. Morgan

21 years in the Industry

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Kheng Leong Cheah

Head of Global Liquidity Sales, Asia Pacific

12 years with J.P. Morgan

24 years in the Industry

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Paula Stibbe

Global Head of Liquidity Clients

10 years with J.P. Morgan

29 years in the Industry

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Paul Przybylski

Global Head of Product Strategy and Client Service

13 years with J.P. Morgan

20 years in the Industry

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Ted Ufferfilge

Global Head of Client Portfolio Management

20 years with J.P. Morgan

29 years in the Industry

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Claude Lam

Trader and Junior Portfolio Manager, Asia Pacific Liquidity

5 years with J.P. Morgan

5 years in the Industry

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John T. Donohue

Head of Global Liquidity

Aidan Shevlin

Head of International Liquidity Fund Management

Lan Wu

Investment Specialist and Fund Manager

Andy Chang

Credit analyst

Dave Martucci

Portfolio Manager, Global Head of Managed Reserves

Kheng Leong Cheah

Head of Global Liquidity Sales, Asia Pacific

Paula Stibbe

Global Head of Liquidity Clients

Paul Przybylski

Global Head of Product Strategy and Client Service

Ted Ufferfilge

Global Head of Client Portfolio Management

Claude Lam

Trader and Junior Portfolio Manager, Asia Pacific Liquidity