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ntina 2.9 -1.5 3.0 4.8 42 4:S .4.6 -1.4 4.0 10.7 34.0 40.0 45.0 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
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
9 2.7 3.6 .3.7 1 2.51 lag 2.0 2.5 2.0 2.0 9.9 10.0 10.0 11.0 Brawl 2.7 1.0 3.4 1.0 2.4 31 3.9 3.8 3.6 3.8 5.0 5.6 6.0 5.5 Chile 6.0 5.5 4.6 8.3 5.7 2.2 4.0 5.0 5.0 4.6 3.1 2.7 2.2 3.1 Colom0ia 5.9 3.2 1 4.0 1 5.3 -2.6 3.7 1 42 6.1 t 6.1 t 5.3 t 3.4 2
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 →24 3.91 45 34 37 40 12 6.0 6.0 6.8 Argentina 89 27 3.6 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
Page: HOUSE_OVERSIGHT_026577 →Entities connected to both Chile and Jan Loeys

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