Antipodean Economic and Markets Outlook

Research evidence excerpt

Antipodean Economic and Markets Outlook

ilities that may be imposed on them by the relevant regulatory authority in the jurisdiction in question, or the regulatory

regime thereunder. Opinions, forecasts or projections contained in this material represent J.P. Morgan's current opinions or judgment as of the date of the material only and are

therefore subject to change without notice. Periodic updates may be provided on companies/industries based on company-specific developments or announcements, market

conditions or any other publicly available information. There can be no assurance that future results or events will be consistent with any such opinions, forecasts or projections,

which represent only one possible outcome. Furthermore, such opinions, forecasts or projections are subject to certain risks, uncertainties and assumptions that have not been

verified, and future actual results or events could differ materially. The value of, or income from, any investments referred to in this material may fluctuate and/or be affected by

changes in exchange rates. All pricing is indicative as of the close of market for the securities discussed, unless otherwise stated. Past performance is not indicative of future

results. Accordingly, investors may receive back less than originally invested. This material is not intended as an offer or solicitation for the purchase or sale of any financial

instrument. The opinions and recommendations herein do not take into account individual client circumstances, objectives, or needs and are not intended as recommendations of

particular securities, financial instruments or strategies to particular clients. This material may include views on structured securities, options, futures and other derivatives. These