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tered in England & Wales No. 2711006. Registered Office 25 Bank Street, London, E 1 4 SIP. South Africa: J.P. Morgan Equities Limited is a member of the Johannesburg Securities Exchange and is regulated by the FSB. Hong Kong: J.P. Morgan Securities (Asia Pacific) Limited (CE number AAJ321) is regulated by the Hong Kong Monetary Auth
4 0 5 ICI 15 20 Sane J P. Morgan. Bbornberg See blue box m page 2 Sol °escapee() www.morga n m a rkets.com EFTA_R 1_020751 13 EFTA02702625 Jan Loeys (1-212) 834-5874 jan.loeystaprnorgan.com Global Asset Allocation The J.P. Morgan 'flew 09 November 2012 • As a result, we stay underweight US
es No. 2711006. Registered Office 25 Bank Street. London, El 4 5JP. South Africa: E. Morgan Equities South Africa Proprietary Limited is a member of the Johannesburg Securities Exchange and is regulated by the Financial Services Board. Hong Kong:. Morgan Securities (Asia Pacific) Limited (CE number AAJ32 ) is regulated by the Hong K
Hedged Into USD. Euro Fixed Income Is illoxx Overall Index. US HG, HY, EhIBIG and EMS Corp are JPM Indices. EM FX Is ELMI+ in S. 2 EFTA00598497 Jan Loeys (1-2121834-5874 Global Asset Allocation The Morgan View 04 January 2013 given we are only in the first week of the year, the early QE exit trad
use for our own global growth forecast. More details in ... Global Data Watch, Bruce Kasman and David Hensley Global Markets Outlook and Strategy, Jan Loeys, Bruce Kasman, et al. US Fixed Income Markets, Terry Belton and Srini Ramaswamy Global Fixed Income Markets, Pavan Wadhwa and Fabio Bassi Emerging
Page: HOUSE_OVERSIGHT_026573 →gistered in England & Wales No. 2711006. Registered Office 25 Bank Street, London, E14 5JP. South Africa: J.P. Morgan Equities Limited is a member of the Johannesburg Securities Exchange and is regulated by the FSB. Hong Kong: J.P. Morgan Securities (Asia Pacific) Limited (CE number AAJ321) is regulated by the Hong Kong Monetary Autho
Page: HOUSE_OVERSIGHT_026578 →Entities connected to both the Johannesburg Securities Exchange and Jan Loeys

JPMorgan Chase
ORGANIZATION
Matthew Lehmann
PERSONSeamus Mac Gorain
PERSON
John Normand
PERSON
Malaysia
LOCATIONthe Taiwan Securities and Futures Bureau
ORGANIZATION
the Ministry of Finance
ORGANIZATIONthe Mexican Stock Exchange
ORGANIZATIONthe Securities and Futures Commission
ORGANIZATIONthe Indonesia Stock Exchange
ORGANIZATION
Philippines
LOCATION
New Zealand
LOCATIONthe Philippine Stock Exchange
ORGANIZATIONthe Stock Exchange of Thailand
ORGANIZATIONBombay Stock Exchange Limited
ORGANIZATIONthe Central Bank of Brazil
ORGANIZATIONKalina
LOCATIONSantacruz East
LOCATIONKanto Local Finance Bureau
ORGANIZATIONthe National Banking and Securities Exchange Commission
ORGANIZATION