Epstein Secrets

by the Monetary Authority of Singapore. Dealing and advisory services and discretionary investment management services are provided to you by JPMCB, Hong Kong/Singapore branch (as notified to you). Banking and custody services are provided to your by JPMIB and/or JPMCB, Singapore branch. The contents of th

Care -39% 60% 42% 8% Financials -21% 58% 30% 6% Information Technology -63% 71% 53% 6% Telecommunication Services -57% 68% 54% 6% Utilities -141% 85% 14% 0% Sector Total % of companies experiencing "catastrophic loss," 1980-2014 All sectors Consumer discretionary Consumer staple

HOUSE_OVERSIGHT_014988 --- PAGE BREAK --- Notable trends and dislocations (Asia) Most regions in Asia reported modest declines last week, led by Hong Kong’s HSCEI, which lost 2.0% week-over-week. Much of the decline came on Thursday following the US Fed’s decision to hike rates 25bps. Also in China, the P

BofA ML turned neutral in EM in the short-term Close positions from trades that have benefited thus far from the rally in Financials and weakness in Utilities; monetize view that Fed will not hike in September Take advantage of low near term vol and a steep term structure Unwind Oct/Jan spread and maintai

over- year in May due to successful strategies during the Golden Week and Mother’s Day holidays. After the NKY, last week’s second biggest gainer was Hong Kong’s HSI, which added 1.1%. The leading name in the index was Geely Automobile Holdings (175 Hk), which jumped 19.8% week-over-week in response to optimis

BofA ML turned neutral in EM in the short-term Close positions from trades that have benefited thus far from the rally in Financials and weakness in Utilities; monetize view that Fed will not hike in September Take advantage of low near term vol and a steep term structure Unwind Oct/Jan spread and maintai

preferred cyclical sectors. We also like Energy. e We are cautious on Materials, where we expect margin pressure to continue, as well as Telecom and Utilities, due to high valuations. Strategic (1 to 2 years) °¢ We like medium-sized US companies, which should benefit from robust earnings growth in the lon

balance sheets. Preference (6 months) Our market preferences for listed real estate* North America = Continental Europe | | = =i ues Japan| | OT =U HongKong — Sngpore | | tt (‘<‘é édT;S*é‘( C‘i‘Cédr:C*S Avswaia [| | |S = Old m New * This is our relative preference within the global real estate sector bas

arnings growth. Our sector stance in the US Sectors Consumer Discretionary Consumer Staples Energy Financials T Healthcare ndustrials Telecom Utilities aterials Viclelulsalel vy) vial ws Source: UBS Note: Past performance is not an indication of future returns. For further information please con

. real estate recommending to have Asia has been the strongest performer and Europe has outperformed the US year-to-date as tail risk was exposure to the Hong Kong, Singapore reduced by the ECB launching the OMT. QE3 is not an imminent performance driver but provides a support and Australia markets. The asset cl