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Reporting on key macro data at the time of release.
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Real-time insight of emerging markets in CEMEA, Asia and LatAm region
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Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
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OPTIONS: JPMorgan's options desk notes:
- AUD, CAD, PLN, HUF, NZD vs. USD are the top five long vol opportunities from a
beta-to-vol perspective. USD calls, especially vs. AUD, NZD, HUF and PLN, look
good value given the positive carry and positive exposure to risk-off factors
- INR, RUB and TRY longs offer a good trade-off between positive carry and
contained sensitivity to global risk factors vs. other EMFX. TRY and RUB skews
look overvalued in the betas vs skews space, whereas ZAR, BRL and AUD skews look
- EUR, CAD, JPY and CHF USD-vols look cheap when analyzing 1y FX vols via the
underlying rates vols and correlations. NOK, SEK and GBP now look the most
overvalued vols based on the rates factor.
- Vol of vol premia are wide on G10/EM pairs, and particularly so for GBP/USD,
USD/JPY with the exception of USD/CNH. Long vol/skew/wings trades remain
supported for USD/CNH.