Liquidity Insights Overview

Liquidity Insights

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

LATEST LIQUIDITY COMMENTARY

Weekly Bond Bulletin

Gain insights on fundamentals, quantitative valuations, technical and more in the weekly report by the Global Fixed Income, Currency & Commodities (GFICC) team.

Tempered Expectations

The FOMC met market expectations for a 50bps increase to its target range, which now stands between 0.75% and 1.00%, and raised the Interest on Reserve Balances (IORB) and the overnight Reverse Repo Rate (RRP) by the same amount to 0.90% and 0.80% respectively.

Carefully calibrated four in a row as rates top 1%

The BoE delivered on market expectations, increasing the Bank Rate by 25 bps at its May MPC meeting and bringing rates to 1% for the first time since the Global Financial Crisis, in what Governor Andrew Bailey described as a ‘carefully calibrated decision’.

The Reserve Bank of Australia’s hawkish turn

The RBA hiked its Overnight Cash Rate for the first time in over a decade at its 3rd May monetary policy meeting. The hike was more hawkish than expected.

PBOC’s muted monetary policy and its implications for CNY interest rates

The latest muted actions by the PBoC suggest the central bank is reaching the limits of monetary policy, which are expected to have direct implications for onshore interest rates.

Reserve Bank of Australia: From patience to pragmatism

At its monetary policy meeting on Tuesday 5th of April, the RBA left base rates unchanged at a record low of 0.1% whilst acknowledged that “inflation has picked up and a further increase is expected” in the accompanying comments. Its hawkish tilt and giving a clear hint to potential rate rises in the coming months.

Fed lift-off

On 15-16 March, the Federal Open Market Committee (FOMC) held its two-day meeting and raised its federal funds rate target range by 25 basis points (bps) to 0.25%-0.5%, with one dissenting member calling for a 50bps increase.

Bank of England see-saw back to a dovish stance

The Bank of England (BoE) raised the Bank Rate by 25 basis points (bps) to 0.75% in a split 8-1 vote with the dissenting Monetary Policy Committee (MPC) member calling for no change on 17 March 2022.

Managing liquidity through rising rates periods

Rising rate environments can challenge even the most sophisticated fixed income investor. We believe analyzing historical rising rate periods can provide a valuable perspective to investors.

The Reserve Bank of Australia: Stressing patience, confirming plausibility

At their first monetary policy meeting of 2022, the RBA acknowledged that the economy “remains resilient” despite the recent Omicron outbreak which has not derailed the recovery.

En Garde! Lagarde

The European Central Bank (ECB) took a hawkish turn at the February meeting, putting the market on alert for potential rates hikes later this year. While this was not a meeting where the ECB unveiled a new set of forecasts, it nonetheless provided a number of talking points.

UK rates march upwards – for now!

The Bank of England (BoE) raised the Bank Rate by 25 basis points (bps) to 0.50% in a split 5-4 vote with dissenting Monetary Policy Committee (MPC) members calling for an immediate jump to 0.75%.

A surprise, pre-emptive policy hike by the Monetary Authority of Singapore

Singapore’s de-facto central bank hiked the slope of the S$NEER policy band, increasing the pace of appreciation. The unexpected hike was triggered by the strong inflation uptrend in recent days as well as a reassessment of Singapore’s growth and inflation expectations in 2022 by the MAS.

Bank of England lift off with 15bps hike despite Omicron threat

The Bank of England (BoE) delivered an early festive surprise for sterling markets as they increased the Bank Rate by 15 basis points (bps) to 0.25% at its December Monetary Policy Committee (MPC) meeting.

A “close call” on the BOE’s laboured path to higher rates

The Bank of England (BoE) defied market expectations for a rate hike as they left the Bank Rate unchanged at 0.1% and maintained total target of asset purchases at GBP 895 billion. The deferred hike means no immediate respite to ultra-low sterling yields, although further interest rate volatility is likely; investors should consider maintaining a disciplined approach to cash investment and segmentation.

RBA Tentative Tapering

The RBA announced its first tentative step towards tapering and eventual policy normalization.

ECB opts for a “steady hand” on policy

At its monthly policy meeting in June, the ECB revised its growth and inflation forecasts upwards, but confirmed its “very accommodative monetary policy stance”.

Global Fixed Income Blog

Fixed Income Perspectives

American made

Bob Michele, the global Chief Investment Officer of Global Fixed Income, Currency & Commodities group, discusses the extraordinary monetary and fiscal response to COVID-19 across the world.

Fixed income investing in 2020

After a challenging 2018, fixed income investors caught a break in 2019 with the U.S. Barclays Aggregate returning 8.7%, its best year since 2002.

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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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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

25 years with J.P. Morgan

34 years in the Industry

Jim Fuell

Head of Global Liquidity Sales, International

16 years with J.P. Morgan

32 years in the Industry

Paula Stibbe

Global Head of Liquidity Clients

11 years with J.P. Morgan

30 years in the Industry

Paul Przybylski

Global Head of Product Strategy and Client Service

14 years with J.P. Morgan

21 years in the Industry

Ted Ufferfilge

Global Head of Client Portfolio Management

21 years with J.P. Morgan

30 years in the Industry

Dave Martucci

Portfolio Manager, Global Head of Managed Reserves

22 years with J.P. Morgan

22 years in the Industry

Jemma Clee

Head of Investment Specialists, EMEA

3 years with J.P. Morgan

18 years in the Industry

Neil Hutchison

Portfolio Manager, Managed Reserves Europe

11 years with J.P. Morgan

24 years in the Industry

Olivia Maguire

Portfolio Manager, GBP Liquidity Strategies

24 years with J.P. Morgan

24 years in the Industry

Joseph McConnell

Portfolio Manager, EUR Liquidity Strategies

27 years with J.P. Morgan

27 years in the Industry

John T. Donohue

Head of Global Liquidity

Jim Fuell

Head of Global Liquidity Sales, International

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

Dave Martucci

Portfolio Manager, Global Head of Managed Reserves

Jemma Clee

Head of Investment Specialists, EMEA

Neil Hutchison

Portfolio Manager, Managed Reserves Europe

Olivia Maguire

Portfolio Manager, GBP Liquidity Strategies

Joseph McConnell

Portfolio Manager, EUR Liquidity Strategies

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