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JPM Guide to the Markets - Q1 2014

JPM Guide to the Markets - Q1 2014

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Published by adamsro9
JPM's quarterly guide to the markets
JPM's quarterly guide to the markets

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Published by: adamsro9 on Jan 13, 2014
Copyright:Attribution Non-commercial


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As of September 30, 2013
As of December 31, 2013
Table of Contents
U.S. Market Strategy Team
Dr. David P. Kelly, CFA
Joseph S. Tanious, CFA
-. ,
Anastasia V. Amoroso, CFA
James C. Liu, CFA
Brandon D. Odenath, CFA
Gabriela D. Santos
Past performance is no guarantee of comparable future results. For China and Australia distribution, please note this communication is for intended recipients only and is for wholesale clients only in Australia. For details, please refer to the full disclaimer at the end. Unless otherwise stated, all data is as of December 31, 2013 or most recently available.
Page Reference
4.S&P 500 Index at Inflection Points5.Returns and Valuations by Style6.Returns and Valuations by Sector 35.High Yield Bonds36.Municipal Finance37.Global Fixed Income38.Emerging Market Debt
7.Stock Valuation Measures: S&P 500 Index8.Corporate Profits and Leverage9.Sources of Earnings per Share Growth10.Sources of Total Return11.Confidence, Earnings and Multiples12.Interest Rates and Equities13.Deloin Cororate Cash39.Global Equity Markets: Returns40.Global Equity Market: Returns to Prior Peaks41.MSCI EAFE Index at Inflection Points42.Global Economic Growth43.Manufacturing Momentum44.The Imortance of Exorts14.P/E Ratios and Equity Returns15.Real Earnings Yield and Bull Market Cycles16.Annual Returns and Intra-year Declines17.Equity Correlations and Volatility45.The Impact of Global Consumers46.Global Demographics and Equity Investment47.Emerging Market Currencies48.Sovereign Debt Stresses49.Global Monetary Policy50.Europe: Unemployment, Inflation and Austerity
. 19.Cyclical Sectors20.The Aftermath of the Housing Bubble21.Consumer Finances22.Federal Finances23.Employment24.Alternative Measures of Labor Utilization. 52.Japan: Economic Snapshot53.China: Economic and Credit Growth54.Global Equity Markets55.Emerging Market Equity: Composition56.Global Equity Valuations Developed Markets57.Global Equity Valuations Emerging Markets. 26.Consumer Price Index27.Energy and the Economy28.Consumer Confidence and the Stock Market29.Fixed Income Sector Returns58.Asset Class Returns59.Correlations and Volatility60.Alternative Asset Class Returns61.Mutual Fund Flows62.Yield Alternatives: Domestic and Global
30.Interest Rates and Inflation31.Fixed Income Yields and Returns32.Sources of Bond Returns33.The Fed and the Money Supply34.Credit Conditions63.Global Commodities64.Historical Returns by Holding Period65.Diversification and the Average Investor 66.Cash Accounts67.Corporate DB Plans and Endowments

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