Eye on the Market July 11, 2011 J.P.Morgan Topics: Portfolios, US corporate profits and the Twilight of the Gods in the US, Europe, China and the IEA) Here's what our U.S. Balanced portfolio l

decade. Some of these assumptions seem aggressive to apply in perpetuity. HOUSE_OVERSIGHT_030808 --- PAGE BREAK --- Eye on the Market July 11, 2011 J.P.Morgan Topics: Portfolios, US corporate profits and the Twilight of the Gods in the US, Europe, China and the IEA) Hourly compensation for production worker

ient and is serviced through distinct legal entities licensed for specific activities. Bank, trust and investment management services are provided by J.P. Morgan Chase Bank, N.A, and its affiliates. Securities are offered through J.P. Morgan Securities LLC (JPMS), Member NYSE, FINRA and SIPC. Securities products purchased or

ient and is serviced through distinct legal entities licensed for specific activities. Bank, trust and investment management services are provided by J.P. Morgan Chase Bank, N.A, and its affiliates. Securities are offered through J.P. Morgan Securities LLC (JPMS), Member NYSE, FINRA and SIPC. Securities products purchased or

Industrial production Index, 100 = January 2007 110 105 100 95 90 85 80 15 2007 2009 2010 2011 Source: INE, CSO, ISTAT, NSS, Eurostat, Bundesbank, J.P. Morgan Securities LLC, J.P. Morgan Private Bank. Periphery = Portugal, Ireland, Italy, Greece, Spain. 2008 * The current EFSF lending capacity is Eur 255 b

60% ceiling AX 50% =e Debt limit to 3x 40% gov. receipts 30% —> 2x 20% 1x 1950 1956 1962 1968 1974 1980 1986 1992 1998 2004 2010 Source: OMB, BEA, J.P. Morgan Private Bank. Over the last few days, the Gang of Six plan, the Reid-McConnell plan and the Obama-Boehner plan have all been raised up the flagpole and then lowe

oduction Source: Nationa Bureau of Statistics, PROC, China Automotive Information, China Economic Information Network, CLSA-Markit, Haver Analytics. J.P. Morgan Securities LLC, ISI Group, J.P. Morgan Private Bank. * PMI data areindexlevel. Housingprice toincome, cement production and steel productionare as of

tained herein is intended as a general market commentary. Opinions expressed herein are those of Michael Cembalest and may differ from those of other J.P. Morgan employees and affiliates. This information in no way constitutes J.P. Morgan research and should not be treated as such. Further, the views ex

Eye on the Market | March 15, 2012 J.P Morgan Topics: Is US data as good as it looks? Is Chinese data as bad as it looks? Is European data as bizarre as it looks? What a diff’rence a day makes.

arbon emissions than the diesel they replace, and high food prices. HOUSE_OVERSIGHT_024194 --- PAGE BREAK --- Eye on the Market | October 22, 2012 J.P Morgan The most important energy developments of 2012: how countries are planning for Independence Day I:_ What might US energy independence look like? Ri

the marketing name for JPMorgan Chase & Co. and its subsidiaries and affiliates worldwide. This material may not be reproduced or circulated without J.P. Morgan’s authority. © 2012 JPMorgan Chase & Co. All rights reserved. 8 HOUSE_OVERSIGHT_024201

ient and is serviced through distinct legal entities licensed for specific activities. Bank, trust and investment management services are provided by JP Morgan Chase Bank, N.A, and its affiliates. Securities are offered through J.P. Morgan Securities LLC (JPMS), Member NYSE, FINRA and SIPC, and its affiliates globally as lo

d alma; bay Account, echidna hut nee limited so Mine, ald alernal ramie of malty to an account :any Wit, kip' a bawficial wirer. :Artesian bee by Morgan, subsea to the tense of and regulator- agenneon web Maw and to applicable law *WA a anbeitel to rely on dos Power of Anon*, gni Mow amok renew my .

ss;;;i.t;;;;*4 al; int payer, ono% ACAs.ter it: eat # liiii asit.t.itilade ear if peat lAr 4 tow- /0/.zs/64 Confidential Treatment Requested by JPMoraan Chase JPM-SDNY-00002388 EFTA00020612 --- PAGE BREAK --- Confidential Treatment Requested by JPM-SDNY-00002389 JPMorgan Chase EFTA00020613 --- PAG

do not understand e. "I," 'me." or "Account holder- mean each Indlvidua4 signing this document. This authorization shall apply to all accounts at 3PMorgan as <of nrc brow in Subdivra co A) over which I have signing authority unless one of the following boxes is checked. In which case It shall apply onl

ient and is serviced through distinct legal entities licensed for specific activities. Bank, trust and investment management services are provided by J.P. Morgan Chase Bank, N.A, and its affiliates. Securities are offered through J.P. Morgan Securities LLC (JPMS), Member NYSE, FINRA and SIPC and Chase Investment Services

m"; it is used less often to increase growth rates of biomass itself. HOUSE_OVERSIGHT_030814 --- PAGE BREAK --- Eye on the Market November 21, 2011 J.P.Morgan Topic: The quixotic search for energy solutions Today's US energy reality: electricity generation Before exploring why some of these ideas did not pa

ied to be conservative. I am sure you will let me know if I wasn't. 2 HOUSE_OVERSIGHT_030815 --- PAGE BREAK --- Eye on the Market November 21, 2011 J.P.Morgan Topic: The quixotic search for energy solutions Question #3: What if the world ends up relying on coal for the next 100 years, and seeks to prevent f

tained herein is intended as a general market commentary. Opinions expressed herein are those of Michael Cembalest and may differ from those of other J.P. Morgan employees and affiliates. This information in no way constitutes J.P. Morgan research and should not be treated as such. Further, the views ex

Eye on the Market | april 9, 2012 J.P Morgan Q&A on the USA, with a watchful eye on the risk of giant man-eating plants; Spain Our view for 2012 was that economic and equity market conditions

SAAR million units 1.0 10 0.5 0.0 -0.5 mJapan -1.0 mUS+Other -1.5 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 2009 2010 2011 2012 Source: BEA/Wards, DB, J.P. Morgan Private Bank. Box indicates impact Source: DB, J.P. Morgan Private Bank. Shadings indicate Cash for of Japanese earthquake. Clunkers and Japanese earthquake, resp

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Eye on the Market | August 4, 2011 J.P Morgan Today This is a little unorthodox, but here is the text of an internal note that I just sent to our integrated Private Bank client coverage teams a

ient and is serviced through distinct legal entities licensed for specific activities. Bank, trust and investment management services are provided by J.P. Morgan Chase Bank, N.A, and its affiliates. Securities are offered through J.P. Morgan Securities LLC (JPMS), Member NYSE, FINRA and SIPC. Securities products purchased or

tained herein is intended as a general market commentary. Opinions expressed herein are those of Michael Cembalest and may differ from those of other J.P. Morgan employees and affiliates. This information in no way constitutes JP. Morgan research and should not be treated as such. Further, the views exp

is not intended or written to be used, and cannot be used, in connection with the promotion, marketing or recommendation by anyone unaffiliated with JPMorgan Chase & Co. of any of the matters addressed herein or for the purpose of avoiding U.S. tax-related penalties. Note that J.P. Morgan is not a licensed insurance p

ient and is serviced through distinct legal entities licensed for specific activities. Bank, trust and investment management services are provided by J.P. Morgan Chase Bank, N.A, and its affiliates. Securities are offered through J.P. Morgan Securities LLC (JPMS), Member NYSE, FINRA and SIPC. Securities products purchased or

tained herein is intended as a general market commentary. Opinions expressed herein are those of Michael Cembalest and may differ from those of other J.P. Morgan emplovees and affiliates. This information in no way constitutes J.P. Morgan research and should not be treated as such. Further, the views exp

ICE SPACE The "office- in Epstein's house. It has no computers, but it does have a desk that Epstein tells people once belonged to banker .1. P. Morgan. and "the lamest Persian rue you'll ever see in a private home.- Sources say Epstein proved that he could be useful to Wexner as well, with "fresh

nior Fellow, Council on Foreign Relations, New York; former Executive Director Hudson Institute of Canada, Montreal Thomas G. Labrecque, President, The Chase Manhattan Bank Manfred Lahnstein, former Member of the Executive Board, Bertelsmann, GOtersloh Count Otto Lambsdorff, partner, Wessing Lawyer, DOsseldorf Kurt L

r room at the back of the house). Epstein has been known to say. The office features a gilded desk (which Epstein tells people belonged to banker J. P. Morgan). 18th-century black lacquered Portuguese cabinets. and a nine- foot ebony Steinway ''D" grand. On the desk. a paperback copy of the Marquis de Sa

ient and is serviced through distinct legal entities licensed for specific activities. Bank, trust and investment management services are provided by J.P. Morgan Chase Bank, N.A, and its affiliates. Securities are offered through J.P. Morgan Securities LLC (JPMS), Member NYSE, FINRA and SIPC. Securities products purchased or

tained herein is intended as a general market commentary. Opinions expressed herein are those of Michael Cembalest and may differ from those of other J.P. Morgan employees and affiliates. This information in no way constitutes J.P. Morgan research and should not be treated as such. Further, the views ex

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u believe it is an error or why you need more information. • Tell us the dollar amount of the suspected error. Please direct all inquiries to your Morgan Account Officer at JPMorgan Private Bank Client Service 500 Stanton Christiana Road, I/OPS3 Newark, DE 19713-2107 We will investigate your compla

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d 0LY-32 to J.P. Morgan Chase Bank. 6 After serving that one on February 26, 2007, they informed 7 us by letter that they are known as Chase, not J.P. Morgan 8 Chase. So we had to reissue another subpoena, which was 9 taken care of on March 22, '07. 10 We also issued 0LY-40 on Chase Bank as well on 11

d 0LY-32 to J.P. Morgan Chase Bank. 6 After serving that one on February 26, 2007, they informed 7 us by letter that they are known as Chase, not J.P. Morgan 8 Chase. So we had to reissue another subpoena, which was 9 taken care of on March 22, '07. 10 We also issued 0LY-40 on Chase Bank as well on 11

d 0LY-32 to J.P. Morgan Chase Bank. 6 After serving that one on February 26, 2007, they informed 7 us by letter that they are known as Chase, not J.P. Morgan 8 Chase. So we had to reissue another subpoena, which was 9 taken care of on March 22, '07. 10 We also issued 0LY-40 on Chase Bank as well on 11

Eye on the Market June 14, 2011 J.P.Morgan Topics: On lessons learned running the Stratford Inn Market update: for better or worse, this is the kind of year we were expecting. We were surprise

e do we set the bar so that it is not too high to clear? I don't have the answer. I do know that we need to start raising these questions more often. J.P.Morgan So, there you have it, one of the more remarkable epiphanies in American politics: a paean to entrepreneurship and government restraint from one of i

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s; 3) long-term - over nine years. ** |f Grantor dies before note is satisfied, the fair market value of the note is includible in grantor’s estate. J.P Morgan 2 HOUSE_OVERSIGHT_022352 --- PAGE BREAK --- A “Cascading GRAT” strategy enhances the benefits of a GRAT e The “Cascading GRAT” strategy uses a GR

Staley. 11 GHISLAINE MAXWELL: Yeah. I do know Jes. 12 TODD BLANCHE: Who's that? 13 GHISLAINE MAXWELL: He was at Morgan 14 Stanley and at Barclays. 15 TODD BLANCHE: What do -- do you know 16 whether he and Mr. Epstein had a relationship? 17 GHISL

TODD BLANCHE: There's some names that 17 have been publicly associated with Mr. Epstein that I 18 just want to ask you if you know about: Piers 19 Morgan? 20 GHISLAINE MAXWELL: Is friendly with who? 21 TODD BLANCHE: With Mr. Epstein. 22 GHISLAINE MAXWELL: I have no i

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Securities LLC, is an affiliate of JPMorgan Chase Bank, N.A. "J.P. Morgan Private Bank" is a marketing name for private banking business conducted by J.P. Morgan Chase & Co. and its subsidiaries worldwide. Investment products: Not FDIC insured • No bank guarantee • May lose value HOUSE_OVERSIGHT_031127 --- PAGE BREAK ---