n Key trades and risk: Emerging Market Equity Strategy, Adrian !dowel et al. European Equity Strategy, Mislay Matejka., et at. Flows & Liquidity, Nikos Panigidzoglou et al. 2 EFTA_R1_00470161 EFTA01981559 Jan L Global Asset Allocation The J.P. Morgan View 11 lAv2014 inflation. We expect US inflation to moderate