Daily Financial Markets Monitor

Research evidence excerpt

Daily Financial Markets Monitor

Alex Gallin (1-212) 270-5492 Global Economic Research J P M O R G A N

alex.gallin@jpmorgan.com Daily Financial Markets Monitor

JPMorgan Chase Bank NA 31 July 2026

Joseph Lupton (1-212) 834-5735

joseph.p.lupton@jpmorgan.com

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”).

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Markets Conduct Act 2013). JPMSAL is registered as a Financial Service Provider under the Financial Service providers (Registration and

Dispute Resolution) Act of 2008.

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Clearing Corporation of the Philippines and the Securities Investor Protection Fund. It is regulated by the Securities and Exchange Commission.

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[MDDI (P) 057/08/2025 and Co. Reg. No.: 199405335R], which is a member of the Singapore Exchange Securities Trading Limited, and/or

JPMorgan Chase Bank, N.A., Singapore branch (JPMCB Singapore), both of which are regulated by the Monetary Authority of Singapore. This

material is issued and distributed in Singapore only to accredited investors, expert investors and institutional investors, as defined in Section 4A

of the Securities and Futures Act, Cap. 289 (SFA). This material is not intended to be issued or distributed to any retail investors or any other