Epstein Secrets

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 Securities plc Matthew Lehman

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EM 20 1.8 2.7 32 0.6 02 2.4 2.3 2.9 51 5.6 4 5.1 4.2 Czech Reputio -0.9 2.8 2.8 6A 32 jj) 2.0 2.3 42 1.1 0.2 4 1.6 4 1.5 Hungary 1.1 30 25 2.7 45 21 2.0 2.5 30 03 -OA 4 0.6 4 2.9 t Israel 3.4 3.3 3.8 32 2.7 3.2 3.6 45 32 1.9 1.0 1.3 1.9 Pdand IS 32

EU leaders meeting to finalize a deal March 1 - 30 Central Bank meetings in Brazil, Mexico, Norway, Indonesia, India, Taiwan, Korea, etc Source:. Morgan Prrvate Bank Instead of the traditional EoTM commentary, this week I wanted to share some charts on oil, Europe, equity markets and monetary policy that speak

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matters addressed herein or for the purpose of avoiding U.S. tax-related penalties. Note that. Morgan is not a licensed insurance provider. 0 2011 !Morgan Chase & Co 5 EFTA00610628

ISI Group. 2004 2007 2010 Two views on the impact of an oil price shock %decline GDP 0.0% Australian • U.K Euro land Japar• Brazil • Poland Hungary • • U.S. ChinaU • Indonesia IN Turkey • Philippines • Korea • India MI S. Africa Taiwan • Thailand Ar.. Si ■ Canada Mexico Malaysia •

w 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 Sooting°, plc Matthew Lehman

ecast 2013 global GDP growth forecasts: JPMorgan and Consensus 3.4 3.2 • 2.9 JPM 2.7 2.4 Apr.12 Jul.12 Oc142 Ja .12 Consensus ) Source. P Morgan. Consensus Economcs Consensus Economcs forecasts are for regions and counties that we averaged using the sane 5-year ruling USO GOP weights that we

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or announcements. market conditions or any other publicly available information. Clients should contact analysts and execute transactions through a J.P. Morgan subsidiary or affiliate in their home jurisdiction unless governing law permits otherwise. "Other Disclosures" last revised September 29, 2012. Cop

United Krgdom 01 00 1.8 -12 -1.5 Emerging Europe 41 2.6 2.61 2,4 1.3 Bulgaria 1.7 1.0 1.5 Czech Republic 1.7 -1.1 0.9 -3.1 -0.8 Hungary 1.6 -12 0.5 -3.5 09 Poland 4.3 2.3 1.81 2.4 11 Romania 2.5 00 0.8 0.5 1$ Russa 4.3 3.6 3.0 3.7 IS Turkey 8.5 2.8 3/ Globa

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ed. Not all investment ideas referenced aresuitable for all investors. These recommendations may not be suitable for all investors. Speak with your. Morgan Representative concerning your personal situation. This material is not intended as an offer or solicitation for the purchase or sale ofany financial instrument. P

25% is now invested in Irish bank stocks, with another 50% subject to liquidation to fund the bailout. This follows on similar decisions in Spain, Hungary and France to repurpose diversified pension funds into government bonds. The Koreas: playktg with fire We wrote about India recently ("From Nehru

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Not all investment ideas referenced are suitable for all investors. These recommendations may not be suitable for all investors. Speak with your J.P Morgan Representative concerning your personal situation. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument.

orld Bank), Saudi Arabia should in principle account for a greater share of global portfolios. Its GDP is greater than Malaysia, Ireland, Denmark or Hungary. But the following constraints are part of the investing landscape: Public equities: Saudi Arabia is 50% of Gulf region market cap and its equity m

tters addressed herein or for the purpose of avoiding U.S. tax-related penalties. Note that J.P. Morgan is not a licensed insurance provider. O 2010 JPAlorgan Chase & Co 5 Proposition 25 reduces the legislative vote required to pass a budget to a simple majority from a two thirds majority. Proposition 26 broadens the

25% is now invested in Irish bank stocks, with another 50% subject to liquidation to fund the bailout. This follows on similar decisions in Spain, Hungary and France to repurpose diversified pension funds into government bonds. EFTA00751571 Eye on the Market I November 29, 2010 J.P.Morgan Topics:

schneider Group Inc. USA Dilenschneider Philip Dilley Chairman Arup Group Ltd United Kingdom James Dimon Chairman and Chief Executive Officer JPMorgan Chase 8 Co. USA John Dineen President and Chief Executive Officer GE Healthcare United Kingdom Laurie L. Dippenaar Chairman FirstRand Ltd South Africa

co Switzerland Luxembourg India Russian Federation Israel United Arab Emirates Switzerland Switzerland Switzerland Russian Federation USA Hungary USA Switzerland Singapore USA Switzerland United Kingdom Peru DuPont de Nemours and USA Company White & Case LLP USA Alcatel-Lucent SA

or 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 Morgan Secunties plc Seamus Mac Gorain (44-

2.6 3.6 3.0 5.0 5.8 5.8 5.1 Bulgaria 1.7 0.7 1.5 Czech Republic 1.9 -1.1 0.0 -1.6 -1.3 -1.6 0.0 0.8 2.4 1.4 3.4 2.7 2.2 2.4 Hungary 1.6 -1.4 0.0 .1A -0.7 •1.0 0.0 0.5 1.8 2.0 5.5 5.5 3.7 3.9 Poland 4.3 2.1 1.6 0.8 1.6 0.5 1.3 2.3 3.0 2.3 4.0 2.9 1.9 2.

an Thailand Africa/Middle East Israel South Africa Europe Euro area Germany France Italy Spain United Kingdom Emerging Europe Bulgaria Czech Republic Hungary Poland Romania Russia Turkey Global Developed markets Emerging markets Source: J.P. Morgan 6 1.8 2.6 8.9 2.7 5.9 6.6 8.0 3.9 6.9 5.7 4.2 4.7 -0.5 2.4

iting https://mm.jpmorgan.com/disclosures/company, calling 1-800-477-0406, or e-mailing [email protected] with your request. J.P. Morgan's Strategy, Technical, and Quantitative Research teams may screen companies not covered by J.P. Morgan. For important disclosures for these companies,

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em in section 761G of the Corporations Act 2001. Germany: This material is distributed in Germany by J.P. Morgan Securities ple, Frankfurt Branch and J.P.Morgan Chase Bank, N.A., Frankfurt Branch which are regulated by the Bundesanstalt für Finanzdienstleistungsaufsicht. Hong Kong: The 1% ownership disclosure as of

s or announcements, market conditions or any other publicly available information. Clients should contact analysts and execute transactions through a J.P. Morgan subsidiary or affiliate in their home jurisdiction unless governing law permits otherwise. "Other Disclosures" last revised February 7, 2013.

4 13 0.4. 1.8) 27. 24. 3.7 / 64 5.0 60. 63 T Bulgaria wi 0 1.5 a a a we a a a a a a a Czech Republic d -11 0.9 -3.1 -08 -12 -13 21 1.0 43 24 34 29 24 Hungary 6 12 0.5 3.5 -0.9 -1.0 -10 1.0 15 8 44 55 58 47 Poland 43 23 1.61 24 16 0.5 0.5 4 1.34 23. 3.0. 46 40 3.1 25 Romania 25 0.0 0.8 0.5 1.9 -24 12 1.2 -0

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em in section 761G of the Corporations Act 2001. Germany: This material is distributed in Germany by J.P. Morgan Securities ple, Frankfurt Branch and J.P.Morgan Chase Bank, N.A., Frankfurt Branch which are regulated by the Bundesanstalt fiir Finanzdienstleistungsaufsicht. Hong Kong: The 1% ownership disclosure as of

s or announcements, market conditions or any other publicly available information. Clients should contact analysts and execute transactions through a J.P. Morgan subsidiary or affiliate in their home jurisdiction unless governing law permits otherwise. "Other Disclosures" last revised September 29, 201