Global Data Pod Weekender: The eagle and snake

The outlook has been viewed through the lens of a strong cyclical lift clashing with a set of geopolitical drags. The past week has delivered positive news on the cycle, but this also comes with news of an intensifying energy shock and trade war. As central banks weigh these forces, they are remaining constructive on growth and thus focus is on ongoing inflation pressures.   Speaker: Bruce Kasman  Joseph Lupton   This podcast was recorded on 24 July 2026.  This communication is provided for information purposes only. Institutional clients 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.