Fixed income portfolio manager, J.P. Morgan Asset Management
3 dated public stances tracked since 2026-04-07, most recently 2026-10-01. Each line carries the date and the venue it came from; quotation marks mean verbatim. Methodology.
The stances below are c8alpha's editorial distillation of Kelsey Berro's public commentary — television, podcasts, and interviews — compiled by automated transcript analysis and dated to the episode they came from. They may lag the speaker's current view and may contain extraction errors. Text in quotation marks is verbatim from the episode; everything else is our paraphrase. Kelsey Berro is not affiliated with c8alpha and has not endorsed this page. Nothing here is investment advice.
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Raw direction-aware returns on public statements — long calls credited when the price rose, shorts when it fell, shorts capped at −100% — in a rising market this mostly measures who was long, not who has skill. Returns run from the stance date; calls are rarely closed publicly, so fixed 90-day / 180-day / 1-year horizons are used. A horizon shows only once it has fully matured, and only at 5+ scored stances. “% correct” is the share of those scored calls whose direction-aware return was positive at the horizon — in a rising market a bullish call is correct by default, so read it beside the market, not alone.
Scored calls
Every tracked call with at least one matured horizon: the rows behind the Returns
line above. A dash is a horizon that has not matured yet.
| Date | Name | Call | 90d | 180d | 1y |
|---|
| 2026-04-07 | Long Dur Treasuries | bullish | -0.2% | -8.9% | — |
| 2026-04-07 | Investment Grade Credit | bullish | +0.8% | -4.4% | — |
Most-argued themes
| Theme | Stances | Lean | Mix | Last |
|---|
| Investment Grade Credit | 2 | | 2 bullish | 2026-10-01 |
| Long Dur Treasuries | 1 | | 1 bullish | 2026-04-07 |
Tracked stances
bullish / bearish is a view they argued; owns / short is a position they said they hold.
2026-10-01
Investment Grade Credit
bullish
Bloomberg Surveillance · video
The current bond sell-off is technically and momentum-driven rather than fundamental — core PCE 3-month run rate is at 2% and year-over-year at 3%, well below the implied Fed path being priced in, making valuations increasingly compelling heading into Q4
“the valuations being highly compelling with yields where they are as we look into the fourth quarter”
Bloomberg Surveillance 10/01/2026
2026-04-07
Long Dur Treasuries
bullish
Bloomberg Surveillance · video
Rates market has over-priced Fed hike risk; if the oil VIX is correctly signaling a larger shock than other markets appreciate, the next Fed move is a cut not a hike — a scenario not priced in today, creating the most room for opportunity in rates
“the next move for the Fed is a cut rather than a hike. And that really isn't priced into uh the rates market today”
90d -0.2% · 180d -8.9%
Bloomberg Surveillance 4/7/2026
2026-04-07
Investment Grade Credit
bullish
Bloomberg Surveillance · video
Hyperscaler IG bonds are priced at a discount due to elevated supply fears but are fundamentally high-quality; steady insurance-buyer demand and a stable Fed policy rate environment are historically favorable for IG credit at current yield levels
“our investment grade credit team has really got this I think spot on in terms of seeing the value in these names”
90d +0.8% · 180d -4.4%
Bloomberg Surveillance 4/7/2026
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