EFTA02699169.pdf

North America Equity Research J.P. Morgan 15 June 2012 Global CC: Post-Greek Election Implications... Global discussion: Economic, Policy, Rates, Commodities, Equities. Mon 10.00am ET, 6/18 Join us for an important discussion on the global implications of the Greek election Portfolio Strategy results. The Eurozone crisis is complex and has global implications, and is best Thomas J Lee, CFA Ac analyzed using the view from across markets. For US equiryy investors, however, we (1-212)622.6605 recommend adding risk on Monday, regardless ofoutcome. Why? thomaslee@pmorgan corn (i) if ND gains, this reduces the conditional risk of a Greek exit greatly. and thus is Katherine C Khor positive for risky assets and (1-212)622.0930 Itatherinelnon§wmorgan corn (ii) if SYRIZA gains, capitulation is likely followed by global coordinated fiscal and J.P. Morgan Secuntes LLC monetary policy measures as well as the potential for Germany to cave. Thus, both outcomes are positive for equities. Hosted by: J.P. Morgan Global Conference Calls on the European Crisis • Thomas Lee, Chief U.S. Equity Strategist 1. 51172012 Global Implications of A Greek ha from Also participating: the EMU Repc't • David Mackie. Head of Western Europe Economic Research; • Pavan Wadhwa, Global Head of Interest Rate Strategy; 2. 5131/2012 Global Strategies Around a Potential Alexander White (tentative), European Policy Strategist; Greek Exit from the Nikolaos Panigirtzciglou, Global Market Strategist. EMU Repo-t Con, Can Takeaways 3. 6/62012 Euro Crisis Panel 01 Proposed Agenda: Pavan Wadhwa (Head of Interest Rate Strategy): 4. 6/132012. Euro Crisis Panel 02 • Greek election: updated probability of an exit; next steps • Spanish bank recap: audit and deposit capital flight update 5. 6/18/2012, Post-Greek Election 10.00arn ET Implications David Mackie (Head of European Economic Research): (date changed) Euro Crisis Panel #3 • Eurozone crisis update: Policy next steps, momentum around ERF and "unification" 6. 6/27/2012, Euro Crisis Panel #4 • ECB policy options 11.30arn ET • Post-election view on Eurozone economic outlook with upside and downside drivers; global economic update Nikolaos Panigirtzoglou (Head of European Asset Allocation): Trading and market liquidity: further discussion on capitulation measures; discussion of market liquidity and depth See page 3 for analyst certification and important disclosures. J.P. Morgan does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. www.morganmarkets.com EFTA_R1_02061134 EFTA02699169 Thomas J Lee. CFA North America Equity Research (1.212)622-6505 15 Jilt* 2012 thwas leeQpmorgan com J.P.Morgan Details and specifics: Ntunday. June 18th. at I 0:00ifin ET DIAL-IN: 800-857-9651 (US); +1-312-470-7357 (outside US); Passcode: STRATEGY Replay Through 6/25: 800-285-9206 (US); +1-203-369-3223 (outside US); Passcode: 5174. Replay available approximately one hour after the call ends. International Dial-ins: CHINA - A 10800-712-1320 CHINA - B 10800-120-1320 FRANCE 080-510-0831 GERMANY 0800-000-1654 GREECE 00800-12-6872 HONG KONG 800-900-592 ITALY 800-987-450 JAPAN 00531-12-1857 NETHERLANDS 0800-020-0428 SAUDI ARABIA 800-8-110012 SINGAPORE 800-120-4272 SOUTH KOREA 00798-14800-6732 SPAIN 800-098-445 SWITZERLAND 0800-001-296 TAIWAN 00801-137-708 UNITED 0800-279-3953 KINGDOM OTHER 44-20-7108-6248 2 EFTA_R1_02061135 EFTA02699170  North America Equity Research Thomas J Lee. 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