Report published September 3, 2026
J.P. Morgan International Market Intelligence: Morning Briefing (September 3, 2026)
Source and citation context
- Issuer
- J.P. Morgan
- Report date
- September 3, 2026
- Analysis as of
- Not stated in source
Authors / editors: Andrew Tyler (Market Intelligence), Federico Manicardi (Market Intelligence), Ellen Wang (Market Intelligence), Victoria Campos (Market Intelligence), John Schlegel (Head of Data Assets & Alpha Group)
Finvaulta summarizes J.P. Morgan's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
J.P. Morgan Market Intelligence provides a daily briefing highlighting a tactical neutral/cautious stance on global equities, favoring the US and Asia over Europe. The report highlights China's AI self-sufficiency buildout, Brazil's election rally, positioning resets in hedge funds, and US midterm scenario baskets.
Key Takeaways
- 1.J.P. Morgan desk remains tactically cautious/neutral on global equities, preferring US and Asia (Japan, South Korea, Taiwan) over Europe due to macro overheating vs. stagflation dynamics.
- 2.Hedge fund gross flows bottomed in the US with August acting as a broad positioning reset; seasonal re-grossing could support an improved alpha environment.
- 3.China's domestic AI infrastructure ecosystem is accelerating rapidly, with domestic compute demand expected to expand at an ~80% CAGR and local chips projected to support 80% of demand by 2028.
Table of Contents
- 20 SECONDS
- WINDOW ON THE WORLD
- ELECTION ODDS
- JPM 2026 US Midterm Election Thematic Baskets
- CATALYSTS
- IDEAS & INSIGHTS – IN BRIEF
- IDEAS & INSIGHTS – IN DETAIL
- EMERGING MARKETS MONETIZATION
- POSITIONING INTELLIGENCE
Report data
JPM 2026 US Midterm Election Thematic Baskets
| Metric | Estimate | Context |
|---|---|---|
| Strait of Hormuz Crude Oil Flow | 18.0 million barrels per day | Record crude oil volume shipped through Strait of Hormuz indicates reduced disruption capability. |
| China Domestic AI Infrastructure Supply Share | 80% | China's domestic semiconductor manufacturers are expected to support 80% of AI infra demand, up from 40% in 2025. |
| China Domestic AI Compute Demand CAGR | 80% | Projected compound annual growth rate for domestic AI compute demand in China. |
| Hedge Fund Average Performance | 0.6% | Average hedge fund returns rebounded modestly in August after July volatility. |
| WorkBuddy MAU | 11152 thousand users | Tencent's enterprise collaboration AI agent WorkBuddy Monthly Active Users. |
Reports in this series
International Market Intelligence is shown in chronological order through this edition, published on September 3, 2026.
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Authors / Editors
Reported Data Context
- Strait of Hormuz Crude Oil Flow: 18.0 million barrels per day (Single day record)
- China Domestic AI Infrastructure Supply Share: 80 % (2028 forecast) · Source: J.P. Morgan estimates
- China Domestic AI Compute Demand CAGR: 80 % (Multi-year forecast through 2028) · Source: J.P. Morgan estimates
- Hedge Fund Average Performance: 0.6 % (August 2026) · Source: J.P. Morgan Positioning Intelligence
- WorkBuddy MAU: 11152 thousand users (July 2026) · Source: AI CPB, Company data, J.P. Morgan