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REAL-TIME GLOBAL RESEARCH

One risk after another: oil fades, tariff rises: EM Economic Outlook

Published: 2026-06-23Institution: JPMorganPages: 48Original language: EnglishEvidence page: 46

Research evidence excerpt

One risk after another: oil fades, tariff rises: EM Economic Outlook

.A.) in Korea. Both entities are regulated by the Financial Services Commission (FSC) and the Financial Supervisory Service

(FSS). For non-macro research material, the material is distributed in Korea by or through J.P. Morgan Securities (Far East) Limited, Seoul Branch.

Japan: JPMorgan Securities Japan Co., Ltd. and JPMorgan Chase Bank, N.A., Tokyo Branch are regulated by the Financial Services Agency in Japan.

Malaysia: This material is issued and distributed in Malaysia by JPMorgan Securities (Malaysia) Sdn Bhd (18146-X), which is a Participating Organization of Bursa Malaysia

Berhad and holds a Capital Markets Services License issued by the Securities Commission in Malaysia.

Mexico: J.P. Morgan Casa de Bolsa, S.A. de C.V. and J.P. Morgan Grupo Financiero are members of the Mexican Stock Exchange and are authorized to act as a broker dealer by

the National Banking and Securities Exchange Commission. (“Bolsa Mexicana de Valores”) and the Institutional Stock Exchange (“Bolsa Institucional de Valores”), and it is

authorized to act as a broker dealer by the National Banking and Securities Exchange Commission (“Comisión Nacional Bancaria y de Valores”).

New Zealand: This material is issued and distributed by JPMSAL in New Zealand only to "wholesale clients" (as defined in the Financial Markets Conduct Act 2013). JPMSAL is

registered as a Financial Service Provider under the Financial Service providers (Registration and Dispute Resolution) Act of 2008.

Philippines: J.P. Morgan Securities Philippines Inc. is a Trading Participant of the Philippine Stock Exchange and a member of the Securities Clearing Corporation of the

Philippines and the Securities Investor Protection Fund.

The English excerpt is extracted automatically from the cited source page and may contain layout or recognition errors. It is never batch translated.

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