INTERNATIONAL MARKET INTELLIGENCE | MORNING BRIEFING

研报英文原文证据摘录

INTERNATIONAL MARKET INTELLIGENCE | MORNING BRIEFING

ry on, any type of investment service or activity by J.P. Morgan, including

but not limited to the purchase or sale of any security. Under all applicable laws, including, but not limited to, the US Employee Retirement

Income Security Act of 1974, as amended, or the US Internal Revenue Code of 1986 or the Financial Services and Markets Act 2000

(Regulated Activities) Order 2001, as amended, no portion of this Material shall constitute, or be construed as constituting or be deemed to

constitute “investment advice” for any purpose, and J.P. Morgan shall not be considered as a fiduciary of any person or institution for any

purpose in relation to Material.

An investment in a hedge fund is speculative and involves a high degree of risk, which each investor must carefully consider. Returns

generated from an investment in a hedge fund may not adequately compensate investors for the business and financial risks assumed. An

investor in hedge funds could lose all or a substantial amount of its investment. While hedge funds are subject to market risks common to

other types of investments, including market volatility, hedge funds employ certain trading techniques, such as the use of leveraging and other

speculative investment practices that may increase the risk of investment loss.

J.P. Morgan may (as agent or principal) have positions (long or short), effect transactions or make markets in securities or financial

instruments mentioned herein (or derivatives with respect thereto), or provide advice or loans to, or participate in the underwriting or

restructuring of the obligations of, issuers mentioned herein. JPMorgan may engage in transactions in a manner inconsistent with the views

discussed herein.

© 2026 JPMorgan Chase & Co.