European Rates: Less keen on carry, UK political noise but no signal

In this podcast Francis Diamond and Aditya Chordia discuss some key themes in European rate markets for January, revisiting the theme of limited selective carry in Euro area rates and the increased political noise in the UK this week.   This podcast was recorded on 23 January 2026.   This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5176179-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party