Specialist Sales APAC Specialist Sales 17 August 2026 J P M O R G A N CH Physical AI, Asia Defense, JPM US Auto Conference: Key Takeaways Joann Kim +852 2800 8016 joann.kim@jpmorgan.com The S&P closed -0.2% on a very quiet Friday, with market volume -15% vs a light 5dma. The global rates selloff and dollar weakness were the main talking points. Interestingly, it coincided with a materially weaker Retail Sales print which (marginally) reduced the probability of a Sept hike. Momentum however snapped back afte ...