Epstein Secrets

on the HY utilities we cover, provide credit and industry data and graphs, and summarize recent company and industry news. Over the last month, the Utilities sector underperformed the high yield index, returning 1.37% to HY's 2.74%. In the present monthly, we include an estimate of key IPPs sensitivity t

PMSS) [MICA (P) 032/0112012 and Co. Reg. No.: 199405335R] which is a member of the Singapore Exchange Securities Trading Limited and is regulated by the Monetary Authority of Singapore (MAS) and/or JPMorgan Chase Bank, S . Singapore branch (JPMCB Singapore) which is regulated by the MAS. Malaysia: This material is issued and dis

ODS 900 Model N Inc USD Technology 0.00% (113,950) 518.234 20.Mar.13 15.50 20.26 14284 20-Mar-13 HE 4,000 Hawaiian Electric Inds USD Utilities 4.74% (1107,000) 5107.398 20.Mar.13 26.75 26.85 5398 21-Mar-13 ENTA 400 Enanta Pharmaceuticals Inc USD mourner. Non-cyclic 0.00% (15.6

hrain (for professional clients only); IM CS Hong Kong branch. regulated by the Hong Kong Monetary Authority and MICR Singaporebranch, regulated by the Monetary Authority of Singapore. This material is not intended at an offer or solicitation for the purchase a sale of any liancial instrument IP. Morgan Securities LLC or its brok

ors —2011 Worst Performance Sectors Payout Ratios are at Historic Lows Jan-10 Apr-10 Source: Bloomberg, As of 1/4/12 Jul-10 Oct-10 Jan-11 9 Utilities, Healthcare, Telecom I Financials, Materials, Industrials Apr-11 Jul-11 Oct-11 Jan-12 J.P.Morgan EFTA_R1_02049751 EFTA02696373 Tactical Op

ain (for professional clients only); JPMCB Hong Kong branch, regulated by the Hong Kong Monetary Authority and JPMCB Singapore branch, regulated by the Monetary Authority of Singapore. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. J.P. Morgan Securities LLC or its

0 Molycorp Inc USD Basic Materials 0.00% ($15,000) $17A00 25..lan.13 6.00 6.96 52.400 29-Jan-13 PNY 6,500 Piedmont Natural Gas Co USD Utilities 3.56% (5208.000) 5207.410 30..lan.13 32.00 31.91 ($590) 31 -Jan-13 KR% 1,500 Keryx Biopharmaceuticals USD snstoner. Nowt-cyclic 0.00%

vain (for professional clients only); INAS Hong Kong brands. regulated by the Hong Kong Monetary Authority and Wal03 Singapore branch. regulated by the Monetary Authority of Singapore. This material is not intended as an offer or solicitation for the mochase a sale of any financial instrument 1P Morgan Securities LLC or ib broker

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

oses without charge if you so request. In Singapore, this material is distriouted by JPMCB, Singapore brand. JPMCB, Singapore branch is regulated 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 notifi