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J.P. Morgan

July 14, 2026

Credit Calls

Daily UpdateEquitiesRates CreditCommunication ServicesIndustrials

This daily report provides updates on North American credit, including a TMT sector reference sheet, a shift to Neutral for rail credit, and commentary on foreign demand for USD investment-grade bonds.

Key Takeaways

  • 1.The firm is publishing a new TMT Reference Sheet with 10 rating changes across the coverage universe.
  • 2.Transportation sector rail credit view upgraded from Underweight to Neutral for 2H26 due to extended M&A timelines and reduced near-term debt funding requirements.
  • 3.JPM Foreign Attractiveness of USD IG Bonds (FAB) index rose slightly by 1bp to 52bp.

Table of Contents

  • Feature
  • Transportation Credit: Reshuffling Rail / Parcel Recs
  • Strategy & Sector Commentary
  • Company Comments

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Authors

Tarek Hamid

Securities

UNPUPSFDXNSC

Themes

Data Center FinancingForeign Demand for USD IG BondsTransportation M&A

Regions

North AmericaUnited States

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J.P. MorganDaily UpdateUNPUPSFDXRates CreditEquities

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