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0.8% 0.6% - 0.0% 0.2% 0.0% -0.2% - -0.4% 8.6% - -0.8% - -1.0% USD JPY EUR G8P CHF CAD AUD TWI Scone: Noonan .J.P.Morgan More details in . FX Markets Weekly. John Normand et al. Commodity Markets Outlook .4 Strategy. Colin Fenton et al. Oil Markets Monthly. Cohn Fenton et al. Natural Gas Weekly. Scott
favor income over growth assets. See page 7 for analyst certification and important disclosures. Click play to view video Global Asset Allocation Jan Loeys AC JPMergan Chase Bank NA John Normand J.P. Morgan Securities plc Nikolaos Panigirtzoglou JP. Morgan Securities plc Mika Inkinen J.P. mown Securit
g ahead of the fiscal cliff, and lower USD/CNY forwards due to avoidance of US-China trade conflict (sec An FX guide to America's toss-up election. FX Markets Weekly, Nov 2). The only surprise has been that FX volatility remains so subdued (VXY unchanged at 7.4%) in a week when the trade-weighted dollar and equi
eady news flow on wide gaps between each side's position. See page 7 for analyst certification and important disclosures. Global Asset Allocation Jan Loeys AC JPMorgan Chase Bank NA John Normand J.P. Morgan Socunbos plc Mk I P nl Irtz I u J.P. Morgan Secunlies plc Seamus Mac Gorain J.P. Morgan Sootin
.5% - 2.0% - 1.5% 1.0% - 0.5% 0.0% 45% -1.0% 1 J.P.Morgan I ' -1.5% - USD JPY EUR GBP CHF CAD AUD TWI Source:. Morgan More details in ... FX Markets Weekly, John Normand et al. Commodity Markets Outlook 8 Strategy. Cohn Fenton et al. Oil Markets Monthly. Cohn Fenton et al. Daily Metals Note. Cohn Fem
in today's GDW). See page 7 for analyst certification and important disclosures. Global Asset Allocation 04 January 2013 Global Asset Allocation Jan Loeys AC (1-212)834-5874 JPMorgan Chase Bank NA John Normand (44-20) 7134-1816 M. Morgan Securities plc Nikolaos Panigirtzoglou (44-20) 7134-7815 Morga
Entities connected to both FX Markets Weekly and Jan Loeys AC

JPMorgan Chase
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Matthew Lehmann
PERSONthe Taiwan Securities and Futures Bureau
ORGANIZATIONBombay Stock Exchange Limited
ORGANIZATIONthe Stock Exchange of Thailand
ORGANIZATIONthe Philippine Stock Exchange
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Philippines
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New Zealand
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Venezuela
LOCATIONJapan Investment Advisers Association
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John Normand
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Malaysia
LOCATIONthe Mexican Stock Exchange
ORGANIZATIONthe Indonesia Stock Exchange
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Ecuador
LOCATIONthe Securities and Futures Commission
ORGANIZATIONJan Loeys
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David Hensley
PERSONthe Central Bank of Brazil
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Uruguay
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