Core Viewpoint - Investment firms, including Columbia Threadneedle, are closely monitoring U.S. mortgage-backed securities (MBS) as a refuge from the high valuations of U.S. corporate bonds and a wave of tech bond issuances that may impact returns [1] Group 1: Corporate Bond Market - JPMorgan strategists predict that the total issuance of U.S. investment-grade bonds, excluding refinancing, could exceed $800 billion in 2026, representing a net increase of approximately 54% from this year [1] - The majority of this issuance is expected to come from tech companies investing in artificial intelligence infrastructure, such as data centers [1] - JPMorgan anticipates that the spread of U.S. high-grade corporate bonds will widen by about 0.15 percentage points in 2026 due to the large volume of issuances [1] Group 2: Mortgage-Backed Securities (MBS) - MBS are projected to deliver the strongest returns in two decades, with the Bloomberg U.S. MBS Index rising by 8.35% as of last Friday, the best performance since 2002 [1] - Morgan Stanley notes that while corporate bond supply is increasing, the net supply of MBS may only see a slight rise next year due to high home prices and mortgage rates suppressing home buying activity [5] - Demand for MBS is expected to be stronger, particularly from real estate investment trusts (REITs) that are purchasing more MBS due to high valuations of their stocks [5] Group 3: Investment Strategies - Columbia Threadneedle's investment manager, Alex Christensen, indicates a gradual shift towards MBS as long-term investment-grade bond spreads fail to provide sufficient buffer against various risks, including increased issuance and deteriorating fundamentals [6] - Some investors are reallocating funds from corporate bonds to other securitized debt products, seeking higher yields [6] - Loomis Sayles' portfolio manager, Brian Kennedy, is focusing on bonds that offer higher yields than MBS, such as mortgage obligations and bonds backed by franchise fees, while attempting to minimize interest rate risk [6]

Credit cards may not be a necessity for everyone, but they can make your life much easier and even help you save money. Paying with a credit card comes with perks you may not get using other payment methods: rewards, security, convenience, and more. But credit cards also carry the risk of high-interest debt if you spend beyond your means. Do you need a credit card? While you may not need a credit card for most purchases, there are advantages to having access to credit. Here are a few reasons to open a c ...

Key Takeaways JPMorgan remains in bucket 4 on the FSB's G-SIB list, requiring the strictest capital standards.The bank must maintain a 2.5% CET1 capital buffer due to its systemic global significance.JPMorgan shares are up 30.6% YTD, with 2025 and 2026 earnings estimates trending upward.JPMorgan (JPM) has once again been ranked as the world’s most systemically important bank, topping the Financial Stability Board’s (FSB) annual list of Global Systemically Important Banks (G-SIBs). The designation places the ...

Just as mortgage rates edge ever closer to 6%, Chase Home Lending gives you a greater advantage when refinancing your mortgage with a limited-time mortgage rate discount. MORE: See our picks for the best mortgage refinance lenders. A mortgage rate break on refinancing Chase Home Lending is offering a refinancing rate discount for two weeks, from Dec. 1 through Dec. 14. If you lock your rate during the promotional period, you will earn an interest rate reduction, which varies by loan product and location ...

据 香港交易所 披露， 摩根大通 （JPMorgan）对 宁德时代 新能源 科技股份有限公司- H股的多头持仓 比例于2025年11月25日从7.63%增至8.09%。 ...

12月1日，伦敦现货白银价格再创历史新高，盘中首次突破每盎司57美元，截至北京时间下午16点30 分，伦敦现货银价报每盎司57美元，涨幅约1.1%。今年以来，白银价格已上涨超90%，大幅跑赢黄金。 分析指出，近期市场对美联储降息预期升温带动白银价格提高。 根据芝商所的美联储观察工具，交易员目前预计美联储12月降息25个基点的概率约为85%。高盛预计， 美联储将于12月降息，并在2026年再进行两次、每次25个基点的降息。 摩根大通发布报告称，美联储将于12月降息，改变了一周前关于美联储将推迟降息至明年1月的判断。 摩根大通经济学家Michael Feroli表示："我们重新将最终降息时点锁定在明年1月，虽然下次议息会议结 果仍存变数，但我们认为最新一轮美联储官员表态已使天平倾向12月降息。" 与黄金不同，白银兼具贵金属与工业金属双重属性。央视新闻报道称，近年来白银产量下降导致供应不 足的缺口一直存在。全球主要交易所的白银库存已降至近十年来低位，而光伏、电动汽车等工业领域需 求持续增长，进一步加剧了现货市场紧张。在租赁市场，白银短期租赁利率飙升，凸显了市场上白银供 应的严重短缺。 近期，机构对白银价格普遍持谨慎 ...

据香港交易所披露，摩根大通（JPMorgan）对宁德时代新能源科技股份有限公司 - H股的多头持仓比例 于2025年11月25日从7.63%增至8.09%。 ...

J P M O R G A N Global Markets Strategy 26 November 2025 Global Inflation Outlook 2026 Inflation breakeven divergence Rates Strategy Francis Diamond AC (44-20) 7134-1504 francis.diamond@jpmorgan.com J.P. Morgan Securities plc Frida Infante (33 1) 8703 2581 frida.infante@jpmorgan.com J.P. Morgan Securities plc Phoebe White (1-212) 834-3092 phoebe.a.white@jpmorgan.com J.P. Morgan Securities LLC Liam L Wash (1-212) 834-5230 liam.wash@jpmchase.com J.P. Morgan Securities LLC Takafumi Yamawaki (81-3) 6736-1748 ta ...

12月1日，临近年末，华尔街开始出现对2026年美国股市最大胆的预测，其中最乐观的就是，随着人工 智能（AI）热潮继续重塑经济和金融市场，标准普尔500指数将飙升至8000点。 这是迄今为止，对明年美股走势最乐观的预测。其他乐观预期还有：汇丰银行（HSBC）将2026年的目 标点位定为7500点，而摩根大通（JPMorgan）则预计，如果美联储继续降息，标准普尔500指数将涨 至7500点，上行空间为8000点。 摩根士丹利（Morgan Stanley）也预计这将是强劲的一年，预计该指数将在2026年以7800点收盘。该行 首席美国股票策略师迈克尔·威尔逊（Michael Wilson）称之为"新牛市"。他在最新报告中指出，今年早 些时候，一轮持续的衰退已经结束，政策支持和盈利强劲将持续到明年。 机遇和风险 目前来看，更多的华尔街大行都倾向于认为下一阶段的牛市仍有上行空间。 富国银行（Wells Fargo）也属于这一阵营，预计未来12个月股市将出现两位数的上涨，2026年底的目标 点位为7800点。该行预计明年股市将经历两个阶段的上涨行情：上半年市场受"通胀预期"驱动，下半年 则由人工智能驱动的强劲上涨推 ...

OPEC+ will stick with plans to pause production increases during the first quarter, delegates said, amid growing signs of a surplus in global oil markets.Key members led by Saudi Arabia confirmed the three-month supply pause — first announced at the start of this month — during a video conference on Sunday, according to the delegates, who asked not to be identified as the talks are private.While the hiatus indicates some caution by the Organization of the Petroleum Exporting Countries and its partners after ...