Epstein Secrets

n. As within DM, we see a lot of divergences within EM and prefer to focus on under-owned markets with good domestic demand story such as Mexico and Malaysia. On the contrary we underweight export oriented countries in Asia such as Korea and Taiwan. Credit • Spread moves were mixed this week, as local t

ani irtzoglou J.P. Morgan Securities plc Seamus Mac Gorain EFTA00628227 J.P. Morgan Securities plc Matthew Lehmann J.P. Morgan Securities plc Leo Evans J.P. Morgan Securities plc If you no longer wish to receive these e•malls then click here to unsubscribe www.Jpmorganmarkets.com Analyst certificat

.0 61 7.1 Hong Kong 50 1.2 3.2 2A -OA India 6.5 5.6 6.0 6.1 5.3 Indonesia 6.5 5/ 3.5 4.7 t ILO 1 Korea 3.6 2.3 3.2 3.5 1.1 Malaysia 5.1 LOT 3.71' 5.8 51 Philippines 3.8 5.3 35 121 01 Singapore 4.9 11 1 2.5 1 9.51 417 Taman 4.0 1.2 3.4 1.6 2.2 Thafazd 0.1

cunbos plc Mk I P nl Irtz I u J.P. Morgan Secunlies plc Seamus Mac Gorain J.P. Morgan Sooting°, plc Matthew Lehmann J.P. Morgan Securrbes plc Leo Evans J.P. Morgan Seaman plc YTD returns through Nov 8 %, equities are in lighter color. EMBIG EM S Corp. US High Yield MSCI Europe' StP500 MSCI EM'

6.5 5.7 4.5 6.0 4.9 j 4.5 4.5 5.0 5.5 4.5 4.3 3.9 4.6 Korea 3.6 2.2 3.01 1.1 02 15 2.51 4.0 4.5 4.5t 2.4 1.74 2.44 3.0 4 Malaysia 5.1 5.3 5.1 6.3 3.6 6,5 5.0 4.5 4.5 5.0 1.7 1.2 2.3 2.6 Philippines 3.8 6.4 4.8 5.0 52 43 t 4.5 4.9 t 5.3 t 5.3 t 2.9 2.3

7815 Morgan Secunties plc Seamus Mac Gorain (44-20)7134-7761 Morgan Securities plc Matthew Lehmann (44-20) 7134-7813 M. Morgan Securities plc Leo Evans (44-20) 7742-2537 M. Morgan Securities plc 2012 returns %, equities are in tighter color. Toplx EMBIG MSCI EM* EM S Corp. MSCI AC Work! MSCI

na. As within DM, we see a lot of divergences within EM and prefer to focus on under-owned markets with good domestic demand story such as Mexico and Malaysia. See "Consensus Asset Allocation", Adrian Mowat and team, Mar 26th. Open overweights in Mexican and Malaysia equities vs MSCI EM. • For long-term inv

[email protected] J.P. Morgan Securities plc Matthew Lehmann (44-20) 7134-7813 [email protected] J.P. Morgan Securities plc Leo Evans (44-20) 7742-2537 [email protected] J.P. Morgan Securities plc If you no longer wish to receive these e-mails then click here to unsubscri

[email protected] J.P. Morgan Securities p/c Matthew Lehmann (44-20) 7134-7813 [email protected] J.P. Morgan Securities plc Leo Evans (44-20) 7742-2537 [email protected] J.P. Morgan Securities plc YTD returns through Mar 27 %, equities are in lighter color. Topix* | S&P50

na. As within DM, we see a lot of divergences within EM and prefer to focus on under-owned markets with good domestic demand story such as Mexico and Malaysia. See "Consensus Asset Allocation", Adrian Mowat and team, Mar 26th. Open overweights in Mexican and Malaysia equities vs MSCI EM. • For long-term inv

na. As within DM, we see a lot of divergences within EM and prefer to focus on under-owned markets with good domestic demand story such as Mexico and Malaysia. See "Consensus Asset Allocation", Adrian Mowat and team, Mar 26th. Open overweights in Mexican and Malaysia equities vs MSCI EM. • For long-term inv

[email protected] J.P. Morgan Securities plc Matthew Lehmann (44-20) 7134-7813 [email protected] J.P. Morgan Securities plc Leo Evans (44-20) 7742-2537 [email protected] J.P. Morgan Securities plc If you no longer wish to receive these e-mails then click here to unsubscri