Guide to the Markets

Full version in English

Selected slides in Spanish

Introduction
LATAM Economy
Global Economy
Fixed Income
Equities
Other Asset Classes
Investing Principles
Disclosure

Cover page

J.P. Morgan Asset Management – Risks & disclosures

Cover page

Global Market Insights Strategy team

Page reference

Latin America: Economic growth, inflation and real rates

Latin America: Trade and foreign investment

Brazil: Economic snapshot

Brazil: Inflation and monetary policy

Brazil: Consumer and business dynamics

Brazil: Fiscal policy

Mexico: Economic snapshot and currency

Mexico: Foreign transfers and nearshoring

Mexico: Inflation and monetary policy

Mexico: Public finances and private sector

Argentina: Economic snapshot

Colombia: Economic snapshot

Colombia: Inflation and monetary policy

Chile: Economic snapshot

Chile: Inflation and monetary policy

Peru: Economic snapshot

Peru: Inflation and monetary policy

Global economic growth and revenue exposure

Global economic activity momentum

Global inflation

Developed market monetary policy

U.S.: Components of GDP growth

U.S.: Federal finances

U.S.: Consumer finances and spending

U.S.: Labor supply

U.S.: Employment and inflation

U.S.: Inflation components

U.S.: The Fed and interest rates

Eurozone: Economy

Japan: Economy

China: Economy

India: Economy and markets

Global trade and investment patterns

U.S.: Trade and tariffs

Nearshoring beneficiaries

Global technology supply chains

U.S.: Tech-driven capital spending

U.S.: Electricity consumption

Emerging market debt

Global fixed income: Return composition

Global fixed income yields

U.S.: Fixed income yields and forward returns

Global interest rates

Global fixed income: Interest rate risk

U.S.: Credit market dynamics

Latin America valuations and earnings by country

Emerging market equity indices

Emerging market equities

Global equity markets

Global equity earnings and valuations

U.S.: Earnings and quality

U.S. Value vs. Growth: Valuations and interest rates

U.S.: Earnings, buybacks and dividends by sector

U.S.: Index concentration and valuations

U.S.: Magnificent 7 performance and earnings dynamics

U.S.: Factor performance

U.S.: Small caps, mid caps and large caps

Europe: Markets

Japan: Markets

Global growth sectors and international diversification

Annual returns and intra-year declines

Global commodities

Dollar dominance

Global currencies

Alternative asset correlations, returns and yields

Real assets: Infrastructure and real estate

Asset class returns

Valuations monitor

60/40 annual returns

CD rates and other investment opportunities

Market returns around the start of Fed cutting cycles

Local investing and global opportunities

Market timing and diversification

J.P. Morgan Asset Management – Index definitions

J.P. Morgan Asset Management – Definitions

J.P. Morgan Asset Management – Risks & disclosures

Cover page

Global Market Insights Strategy team

Page reference

Latin America: Economic growth, inflation and real rates

Latin America: Trade and foreign investment

Brazil: Economic snapshot

Brazil: Inflation and monetary policy

Brazil: Consumer and business dynamics

Brazil: Fiscal policy

Mexico: Economic snapshot and currency

Mexico: Foreign transfers and nearshoring

Mexico: Inflation and monetary policy

Mexico: Public finances and private sector

Argentina: Economic snapshot

Colombia: Economic snapshot

Colombia: Inflation and monetary policy

Chile: Economic snapshot

Chile: Inflation and monetary policy

Peru: Economic snapshot

Peru: Inflation and monetary policy

Global economic growth and revenue exposure

Global economic activity momentum

Global inflation

Developed market monetary policy

U.S.: Components of GDP growth

U.S.: Federal finances

U.S.: Consumer finances and spending

U.S.: Labor supply

U.S.: Employment and inflation

U.S.: Inflation components

U.S.: The Fed and interest rates

Eurozone: Economy

Japan: Economy

China: Economy

India: Economy and markets

Global trade and investment patterns

U.S.: Trade and tariffs

Nearshoring beneficiaries

Global technology supply chains

U.S.: Tech-driven capital spending

U.S.: Electricity consumption

Emerging market debt

Global fixed income: Return composition

Global fixed income yields

U.S.: Fixed income yields and forward returns

Global interest rates

Global fixed income: Interest rate risk

U.S.: Credit market dynamics

Latin America valuations and earnings by country

Emerging market equity indices

Emerging market equities

Global equity markets

Global equity earnings and valuations

U.S.: Earnings and quality

U.S. Value vs. Growth: Valuations and interest rates

U.S.: Earnings, buybacks and dividends by sector

U.S.: Index concentration and valuations

U.S.: Magnificent 7 performance and earnings dynamics

U.S.: Factor performance

U.S.: Small caps, mid caps and large caps

Europe: Markets

Japan: Markets

Global growth sectors and international diversification

Annual returns and intra-year declines

Global commodities

Dollar dominance

Global currencies

Alternative asset correlations, returns and yields

Real assets: Infrastructure and real estate

Asset class returns

Valuations monitor

60/40 annual returns

CD rates and other investment opportunities

Market returns around the start of Fed cutting cycles

Local investing and global opportunities

Market timing and diversification

J.P. Morgan Asset Management – Index definitions

J.P. Morgan Asset Management – Definitions

J.P. Morgan Asset Management – Risks & disclosures

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Cover page

12/31/2024

Snapshot of the economic and market update for the first quarter of 2025

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