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.0 Brazil 2.5 1.1 1.8 1.8 0.7 Q,2 1.8 2.7 22 5.8 6.3 6.3 6.3 Chile 4.1 2.5 3.5 -0.4 3.0 21 4.0 2.8 3.2 2.5 4.5 4.2 4 3.0 Colombia 4.7 5.0 45 31 9.7 21 4.0 4.0 5.0 1.8 2.8 3.2 3.0 Ecuador 4.5 3.3 4.0 4.7 2,0 1.5 2.0 2.5 35 2.3 3,4 t 3.5 t 4.0 Mexico 1
NGN vs. ua FX Cornell Small OW Energy on carry: Copper on better demand from China. Sauce'. J P. Morgan 5 EFTA_R1_00470164 EFTA01981562 Jan Loeys Global Asset Allocation The J.P. Morgan View 11 My 2014 Global Economic Outlook Summary Real GDP %owxayear ago Real GDP %aerawfous peed. isar
2.1 1.8 1.9 Latin America 42 2.9 3.9 2.8 2.4 Argentina 8.9 2.7 3.6 24 -32 &aid 2.7 1.4 4.1 OS IS Chie 6.0 5.4 4.5 5.1 7.1 Colombia 5.9 4.3 4.5 01 6.7 Ecuador 8.0 5.0 4.0 4.2 4.8 Mexico 3.9 3.9 3.6 41 3.5 Peru 6.9 6.0 7.0 13 60 Uruguay 5.7 3S 4.0 11.8
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
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 →24 -3.2 5.0 10.0 2.0 25 2.0 96 99 10.0 11.0 Brazil 27 14 4 0.5 6 48 46 3.8 40 43 6.7 5.0 55 56 Chile 6.0 54 45 51 71 3.0 40 40 5.0 5.0 40 3.1 25 3.1 Colombia 5.9 43 45 0.9 67 28 3.8 42 53 55 3.9 34 3.1 3.2 Ecuador 8.0 5.0 40 42 48 3.0 55 5.0 3.0 3.0 55 51 54 54 Mexico 3.9 3.9 3.6 49 30 21+ 3.5 40 3.2 3.3 5
Page: HOUSE_OVERSIGHT_026577 →Entities connected to both Columbia University and Jan Loeys

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