EFTA01171762.pdf

From: US GIO To: Undisclosed recipients:: Subject: JIPMorgan View 11.18/011 Date: Fri, 18 Nov 2011 22:46:07 +0000 Attachments: WM_View_II.18.20II-pdf.zip Inline-Images: image003.png .1P Morgan GlObill Anal /1163C•03.1 sPlocegandreauelantriA JP Ikerean Ifecuilke Ittt Pew it All The J.P. Morgan View EMU now more clearly in a liquidity crisis. affecting all • Fealties Ot GOP poirthin US rind to ".4%, eve, ittCO oat protthly only 2%. %reduce UK 3112 growth from 0.8% to054.•ith mini-recemion h111. John Normand • Poettotkr stroke —Near -min %Wadleyas EMUMan rant • Mal Immo — Scottie nxenrooni foot UK gib. owe 1GB. likolanahotaldzosardi_ • Writ — Coachmen focus on colony ndes flooring Germany and MCA. • &all — Set French bast boob v• OATS loot antne in veil( good. Searnus Mac Gamin and .cry had tam Wise world. 1amigo, nettle — We remainshort E(TUIPytlnolghgfion to ledge :try attune. In FAIIVIV. • (''aimdale,-We Laseour WTI tomcat to ref ectOWVIC% that Me Brtnt- Voll sweat 'horrid nary.* to only SIAM by deed or neat year. Leo Event • Marko :canon extremely wink arid manors to tenet lathe blew polrwal watementatot it bnope on saki wit of well not. ot should or drool not, do %ha to melte the Ewa, noting' debt cmi. Etalltale dots we ate tend the gory, owlet tally the US. wit supportive for oak market,. but were /a. MOM VP Ilr/P uutahoutol by the Mescal dam m Ewupr. kmmg tuba aut. omit- tang)' Stun over the wet. V6'VOW* • lS amvin data continue to impress. reline to orbdued expectauont. ri d are BAG tuning our lorecata torQ4 up to 3%. even m we &minty Q3 to only Y.F. trOtoretrotom The a•tanar for 112 soya at 25%. muchbat than the I% p. t we Footled GM& leovIorde oily MO months ago, This good rem Infirm< thr ghde path of the EVLomiBoer etoromy wto 2012, tat *eV doe. nee Mott the downide nit due to Jr exprint an outer of focal stimehm meager. el the cal ot Om yew. There rmtaim m Oa, of compantaile in Wrolingkm an the 2012 buddy.* nor on the MI On Sut,in,orninteselTat M iedaceihe layearour deficit Or SI 3trillion. One C40 TR could hope that both rider know the nation reed, clarity and will compronMe am at to lao minute, tot dos it tune our Slonday should bring !WM from the Sopenomoonet EwpmFrE Fare' SWIM • 1-6iew Nee we we lento, mulnite thin diner growth Om yew ism.* DIM wrong to hone heaths Inflation clew H)om ftemmt.ttlolul hwprrr IISOAC MAT isfleit6.666.1 fell from I efe oya Os. swam to 2 464 rya M6 month,' time. MOP (tor lava inflame) twewutiom Sane. «„iia a eb..ona. Nov II) relml that minion have ranee Owe timbal:Mit) of dellatimmwsi 2 ti the nc tt 5 ) een by YI to Met ea the f Sam: 15% m the EmuArea (EA'. ha the FA. equal,. their prohibita) te ugh inflation (>49+1. 1c if• tom Pa, any.. It Awl • I Alin lunation and indatlastexpeetualtem aiould;nova& both support to nos ...pi in til> en rad sauna Owe* vormorcr, ad ...Mort W .corral bantera that try should be tutus about Y w Kim WM snail Conga also tO Ivonding greater %mourn,. through rate cuts in EM and ituanoutoe easing in the moo de, el,por marten The Hank of England is in the nm.hl of remit; its : he °end',ins salysus okkated M a. See page • li e rm:r2y o certification relimpwitere Irgal aril reptmom ditdowrr). This email is confidential and subject to important disclaimers and conditions including on offers for the purchase or sale of securities, accuracy and completeness of information, viruses, confidentiality, legal privilege, and legal entity disclaimers, available at EFTA01171762