Epstein Secrets

organ EM equity portfolio inflows Left axis shows EM equity portfolio flows in Sbn. 200 150 100 0 -50 -10a 05 06 07 08 09 10 It Source: IF. Blomberg. EM equity nortfolioflows $bn 60% 50% 40% 30% 20% 10% 0% -10% MSCI Skin ISCI Wald -20% 12 More details in ... US Credit Markets Outlook

y Markets Outlook 8 Strategy. Cohn Fenton et al. Oil Markets Monthly. Cohn Fenton et al. Daily Metals Note. Cohn Femme et al. Agriculture Weekly. Dietz et al. 4 EFTA00598499 Jan Loeys 1-212)834-5874 Interest rates Global Asset Allocation The M. Morgan View 04 January 2013 Current Mar-13 J

1 1 1 1 1 i i 5 10 15 20 Source: J.P. Morgan, Bloomberg. See blue box on page 2 for description. www.mo

Markets Outlook & Strategy, Colin Fenton et al. Oil Markets Monthly, Colin Fenton et al. Daily Metals Note, Colin Fenton et al. Agriculture Weekly, Dietz et al. HOUSE_OVERSIGHT_026575 --- PAGE BREAK --- Jan Loeys Global Asset Allocation (1-212) 834-5874 The J.P. Morgan View LE Morgan jan.loeys@jpmo

EM* EMBIG Gold -10 10 20 30 Source: J.P. Morgan, Bloomberg. See blue box on page 2 for description. www.jpmo

y Markets Outlook & Strategy, Colin Fenton et al. Oil Markets Monthly, Colin Fenton et al. Daily Metals Note, Colin Fenton et al. Agriculture Weekly, Dietz et al. HOUSE_OVERSIGHT_030851 --- PAGE BREAK --- Jan Loeys (1-212) 834-5874 [email protected] Interest rates United States Euro area United Ki