Asks if geopolitics is now a top concern after weekend events, given it wasn't last week.
Lisa
Sanjay Jhamna
Weekend client conversations indicate they're still open for business, attentive to energy prices and rates, but don't see events as complete surprise.
Asks if this risk was already baked into recent market risk aversion.
Lisa
Sanjay Jhamna
Clients view geopolitics through economic lens, with AI as main driver for both CapEx spend and disruption/margin compression.
Asks about economy's strength to withstand oil price shock from Middle East conflict.
Lisa
Sanjay Jhamna
Credit is asset class of the moment due to elevated yields, robust company fundamentals driving inflows, record issuance and trading volumes.
Asks about private credit market disruptions and whether they could become systemic.
Lisa
Sanjay Jhamna
Productivity boosts lead to consolidation with winners and losers; software share in GDP will be bigger in 5 years, but messy next few months likely.
Asks if investors see opportunities to buy or feel vulnerable to sell.
Lisa
Sanjay Jhamna
Markets orderly; credit investors see sectoral stress as normal part of credit cycle and opportunity for dispersion.
Asks about reasons for JPMorgan's strong trading revenue and profits.
Lisa
Sanjay Jhamna
Credit flows strong; 90% of tickets electronic, 25% portfolio trading; AI will revolutionize credit markets as last frontier for automation.
Asks how AI changes role of credit trader and desk composition.
Lisa
Sanjay Jhamna
Generative AI perfect for credit's complex data; will level playing field and reset competition; winners determined by forward-leaning management.