BMW AG has adopted a new system from JPMorgan that uses blockchain to handle some of its foreign exchange transfers. The firm now uses the Kinexys network to transfer funds between its accounts when balances fall below a set level. This setup replaces slower, manual steps with automatic transfers that go through at any hour. The German automaker aims to reduce the need for extra cash in reserve and keep its global operations steady without delays. As per a Bloomberg report, JPMorgan said that the system ...

责任编辑：张俊 SF065 伯克希尔哈撒韦（BRK.A）周二早盘下跌0.88%。昨日有报道称，该公司投资副手兼GEICO负责人托德· 康布斯将出任摩根大通（JPM）新成立的战略投资部门主管；与此同时，伯克希尔任命南希·皮尔斯为 GEICO首席执行官，并为格雷格·阿贝尔接任公司最高职位做准备。 伯克希尔哈撒韦（BRK.A）周二早盘下跌0.88%。昨日有报道称，该公司投资副手兼GEICO负责人托德· 康布斯将出任摩根大通（JPM）新成立的战略投资部门主管；与此同时，伯克希尔任命南希·皮尔斯为 GEICO首席执行官，并为格雷格·阿贝尔接任公司最高职位做准备。 责任编辑：张俊 SF065 ...

Core Insights - J.P. Morgan Asset Management plans to convert select U.S. mutual funds to ETFs in 2026, with combined assets of approximately $4.6 billion as of October 31, 2025 [1][2][3] Group 1: Conversion Details - The proposed conversions are subject to Fund Board approval in February 2026 and are expected to enhance trading flexibility, portfolio transparency, and tax efficiency for investors [2][4] - The specific mutual funds proposed for conversion include: - JPMorgan New York Tax Free Bond Fund with $415 million AUM, conversion date June 12, 2026 - JPMorgan California Tax Free Bond Fund with $427 million AUM, conversion date June 12, 2026 - JPMorgan Preferred and Income Securities Fund with $1,727 million AUM, conversion date July 10, 2026 - JPMorgan U.S. GARP Equity Fund with $2,049 million AUM, conversion date July 10, 2026 [3] Group 2: Strategic Rationale - The conversion to ETFs is seen as a natural progression to meet evolving investor preferences, providing greater flexibility, transparency, and tax efficiency while maintaining access to active management expertise [4] - J.P. Morgan Asset Management ranks second globally in active ETF assets under management, with $231.5 billion as of September 30, 2025 [4] Group 3: Company Overview - J.P. Morgan Asset Management has $4 trillion in assets under management as of September 30, 2025, serving a diverse client base including institutions, retail investors, and high net worth individuals [5] - The firm is a leader in various financial services, including investment banking, commercial banking, and asset management, with a strong global presence [6]

Core Viewpoint - J.P. Morgan Asset Management plans to convert select U.S. mutual funds to ETFs in 2026, aiming to enhance investor benefits through increased trading flexibility, transparency, and potential tax efficiency [1][2]. Group 1: Proposed Conversions - The proposed conversions are subject to Fund Board approval in February 2026 and are expected to provide significant value to investors [2]. - The combined assets of the funds proposed for conversion are approximately $4.6 billion as of October 31, 2025 [2]. - The specific mutual funds proposed for conversion include: - JPMorgan New York Tax Free Bond Fund with $415 million AUM, conversion date June 12, 2026 - JPMorgan California Tax Free Bond Fund with $427 million AUM, conversion date June 12, 2026 - JPMorgan Preferred and Income Securities Fund with $1,727 million AUM, conversion date July 10, 2026 - JPMorgan U.S. GARP Equity Fund with $2,049 million AUM, conversion date July 10, 2026 [3]. Group 2: Strategic Rationale - The conversion to ETFs is seen as a natural progression to meet evolving investor preferences, providing greater flexibility, transparency, and tax efficiency while maintaining access to active management expertise [4]. - J.P. Morgan Asset Management is committed to offering its investment strategies through various vehicles, including ETFs, mutual funds, and other investment options [4]. Group 3: Company Overview - J.P. Morgan Asset Management has $4 trillion in assets under management as of September 30, 2025, and is a global leader in investment management [5]. - The firm ranks second globally in active ETF assets under management with $231.5 billion as of September 30, 2025 [4].

Core Insights - There is a rising interest in high short-interest stocks ahead of Q1 2026, with many stocks having robust outlooks but being heavily shorted, leading to depressed prices and potential for rebounds [1][2] Group 1: Stock Analysis - JPMorgan Chase will begin peak fiscal 2025 Q4 reporting on January 13, 2026, indicating limited time for positioning ahead of the season [2] - Hims & Hers Health has faced pressure due to GLP market shifts but is expected to see growth slow to the high-20% range in fiscal Q4, with a 30% short interest suggesting a potential squeeze [3][4] - Applied Digital's short-covering rally is likely underway, with AI capacity sold out and demand increasing, affirming robust forecasts and a 50% revenue outlook increase upon completing its second campus [7] Group 2: Market Trends - Many quality stocks with strong outlooks have been heavily shorted in the latter half of 2025, setting them up for rebounds in 2026, driven by AI demand for infrastructure and services [5] - Analysts are raising price targets and issuing upgrades, indicating a potential 15% rebound at consensus, which could push the market above critical moving averages [4]

Core Viewpoint - Investing can be straightforward by focusing on quality companies that are unlikely to face bankruptcy in the near term. Group 1: Ford Motor Company - Ford has a current dividend yield of 4.48% and a strong cash position of $26.8 billion, indicating a safe dividend payout [2][6]. - In Q3, Ford reported automotive revenue of $47.19 billion, exceeding expectations of $43.08 billion, with adjusted earnings of $0.45 per share [3]. - The stock trades at a low valuation of approximately 11.4 times earnings, suggesting limited downside risk [5]. Group 2: JPMorgan Chase - JPMorgan has significantly outperformed the market, doubling the S&P 500's return over the last five years, and is a leading bank in the U.S. [7][8]. - In Q3, JPMorgan reported a return on equity of 17% and assets under management increased by 18% year over year to $4.6 trillion [8]. - Earnings for the third quarter rose 16% year over year to $5.07 per diluted share, showcasing consistent performance [8][10]. Group 3: Nvidia - Nvidia has returned 40% to shareholders year to date, benefiting from its position in the growing AI industry [11]. - In Q2, Nvidia's revenue increased by 56% year over year to $46.7 billion, with net income rising 59% to $26.42 billion [12]. - The company has a gross margin of 70.05% and is well-positioned for future growth in the AI sector, making it a strong buy-and-hold candidate [14][15].

格隆汇12月9日｜摩根大通策略师表示，明年新兴市场股票的表现可能会优于发达市场，因为它们的估 值仍然较低，而且应该会受益于较低的仓位以及美元稳定或走弱。"我们确实认为，经过多年的持续表 现落后，新兴市场明年将连续第二年跑赢发达市场，" 驻伦敦的全球及欧洲股票策略主管Mislav Matejka 在新闻发布会上表示。 ...

The report identifies investment opportunities across global real estate, infrastructure, transportation, timberland, hedge funds, private equity, and private credit NEW YORK, Dec. 9, 2025 /PRNewswire/ -- J.P. Morgan Asset Management today released its eighth annual Global Alternatives Outlook, providing a 12-to-18 month outlook across key alternative asset classes, equipping investors to make tailored portfolio decisions. This year's report details our highest-conviction ideas as private markets mature int ...

Core Insights - JPMorgan Chase is launching a $1.5 trillion investment initiative aimed at enhancing national security and reducing reliance on foreign suppliers over the next decade [1][4] - The initiative is supported by a high-profile advisory panel including tech billionaires and former government officials, which will guide investment decisions [2][6] - Jamie Dimon has emphasized the importance of national resilience and the risks posed by foreign dependencies, particularly from China [3] Investment Strategy - The $1.5 trillion investment will encompass loans, underwriting, and various investments over the next ten years [4] - A new $10 billion fund will be established to support companies focused on sensitive technologies, including advanced chips, AI, and critical minerals [2] Advisory Panel Composition - The advisory panel is chaired by Jamie Dimon and includes notable figures such as Jeff Bezos, Condoleezza Rice, Michael Dell, and Robert Gates [2][6] - The panel will meet periodically to provide insights on investment strategies, although it holds no formal authority [5] Previous Initiatives - Dimon has previously set ambitious targets, including a $2.5 trillion climate-finance pledge, which has seen limited progress [5] - JPMorgan has already made an investment in Perpetua Resources, a mining firm focused on antimony production, highlighting the bank's commitment to securing critical resources [4]

Pharmaceutical Innovations and Regulatory Submissions - Eli Lilly's drug Jaypirca (pirtobrutinib) achieved an 80% risk reduction in progression or death for treatment-naïve chronic lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL) patients in the Phase 3 BRUIN CLL-313 trial, marking a significant advancement in cancer therapy [2][7] - Johnson & Johnson submitted a supplemental Biologics License Application (sBLA) for the combination of Tecvayli and Darzalex for treating relapsed/refractory multiple myeloma (RRMM) [3][7] Global Market Forecasts and AI Sector Deals - JPMorgan projects emerging equities to outperform developed markets in 2026, driven by a weaker or stable U.S. dollar, and identifies Chinese AI stocks as more affordable compared to U.S. counterparts, indicating potential investment opportunities [4][7] - Anthropic and Accenture announced a partnership aimed at providing advanced AI solutions to business clients [5][7] Consumer Spending Trends and Economic Commentary - Walmart's CEO Doug McMillon highlighted ongoing financial pressure on lower-income consumers despite low single-digit inflation, attributing it to cumulative price increases over the years [6][7] Geopolitical and Monetary Policy Updates - The Swiss National Bank is expected to maintain its main interest rate at 0%, but there are speculations that potential U.S. tariffs could lead to negative interest rates in the future [9][7]