International Market Intelligence Morning Briefing

Latest edition · September 2, 2026

JPM International Market Intelligence | Morning Briefing

J.P. Morgan Market Intelligence has shifted to a tactically cautious stance as rising bond yields, oil prices, and corporate issuance weigh on sentiment, though positioning washouts indicate an attractive Q4 setup ahead. The desk advocates relative regional preference for the US and Asia over Europe while selectively hedging momentum and AI vulnerabilities.

In this morning briefing, J.P. Morgan Market Intelligence highlights tactical caution across global equities, noting pressure from rising yields, oil prices, and hawkish central bank repricing. Positioning metrics across Asia have declined to the 40th percentile following cuts to Korean and Taiwanese tech, although $19bn in emerging market inflows since July and corporate buybacks provide medium-term support. In monetization strategies, the desk maintains regional longs in the US, Japan, South Korea, and Taiwan versus Europe, while favoring thematic supercycles (clean energy, defense, critical minerals) and tactical long plays in China Internet (KWEB) and Taiwan.

Key takeaways from the latest edition

• 1.J.P. Morgan Market Intelligence remains tactically neutral/cautious on global equities in the near term amid rising bond yields and oil prices, while anticipating an attractive Q4 setup.
• 2.Asian equity positioning has reset from the 75th to the 40th percentile, with emerging market inflows resuming since July ($19bn) and Korean corporate buybacks offering solid structural support.
• 3.The team favors long US and Asian equities over European equities, maintaining hedges on European indices and momentum factors while selectively buying dips in supercycle themes.

What this series covers

• 20 SECONDS
• Positioning Intelligence | EU Thematic Positioning Dashboard
• Positioning Intelligence | APAC Thematic Positioning Dashboard
• Stages of token demand acceleration
• Total monthly tokens processed across Google surface
• Anticipated AI Capex Funding Sources
• Volume-Weighted Average Token Pricing
• CATALYSTS:
• IDEAS & INSIGHTS – IN BRIEF
• IDEAS & INSIGHTS – IN DETAIL
• EMERGING MARKETS MONETIZATION
• POSITIONING INTELLIGENCE
• J.P. Morgan Global Market Intelligence Contacts

Edition archive

• JPM International Market Intelligence | Morning Briefing

  September 2, 2026

• JPM International Market Intelligence Morning Briefing Aug 27

  August 27, 2026

• JPM International Market Intell | Morning Briefing Aug 13

  August 13, 2026

• JPM International Market Intelligence | Morning Briefing: 20 SECONDS

  August 11, 2026

• JPM International Market Intell | Morning Briefing 2026 08 10

  August 10, 2026

• JPM International Market Intelligence Morning Briefing - Aug 7

  August 7, 2026