Epstein Secrets

nd growth given the weak payroll number but we think the selloff in oil is overdone and expect Brent to recover. Jan Loe s JPMorgan Chase Bank NA John Normand J.P. Morgan Securities plc Nikolaos Pani irtzoglou J.P. Morgan Securities plc Seamus Mac Gorain EFTA00628227 J.P. Morgan Securities plc Matth

ntensifies search for carry elsewhere. • Equities — OW Japanese equities. UW Euro area equities. • Credit — Hard-currency fund flows are supporting EMBIG. • Currencies — Re-enter today JPY shorts vs USD, AUD and BRL. • Commodities — Stay underweight vs. other asset classes. Within commodities, we foc

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 Securities plc Matthew Lehmann J.P. Morgan

5 0 5 10 15 Source: J.P. Morgan, Bloomberg. Nom: Ram in USD *Local currency. "Hedged mto USD. Euro rued income is Bcox Omni Index 11511G. HY. EMBIG and EMS Corp ale JP1A maims. Em FS is DIC1M t. www.jpmorganmarkets.com EFTA_R1_00470160 EFTA01981558 Jan L Global Asset Allocation The J.P. M

ach 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 Sooting°, plc Matthew Lehmann J.P. Morgan

al. Description of YTD Chart on front page: Returns in USD. 'Local currency. "Hedged into USD. Euro Fixed Income is Bon Overall Index. US HG. HY. EMBIG and EMS Corp are JPM indices. EM FX is ELMI♦ in 5. 2 EFTA_M _020751 14 EFTA02702626 Jan Loeys (1-212)834-S874 Mnbeyvapritorgen.com Global As