Navigating credit markets in 2026: “Don’t let the macro narrative overwhelm the micro”

As Treasury yields stay elevated and spreads remain historically tight, rates appear to be bleeding directly into credit — and investors are increasingly viewing credit through a rates lens. In this episode of Making Sense, Brian LaRocca, head of Vida Portfolio Solutions, Americas, joins Benjamin Kinney, global head of Credit and Public Finance Sales, to discuss what a "ratesified" market structure means for price discovery, electronification and portfolio trading. They also explore how policy uncertainty may be better expressed in FX than duration, why AI/data-center financing is still in the early innings (and what that means for clearing prices and volatility) and how private credit is evolving after “SaaSPocalypse.”

To learn more about J.P. Morgan's Vida Portfolio Solutions: https://jpmm.com/portfolio-solutions

This episode was recorded on September 4, 2026.

This communication is provided for information purposes only. Please visit www.jpmorgan.com/disclosures for important disclosures.

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