International Market Intelligence Morning Briefing

J.P. Morgan maintains a bullish outlook on global equities, emphasizing the structural AI demand cycle and cyclical growth. The team has updated price targets for Korea and adjusted commodity forecasts amid shifting market regimes.

Key Takeaways

• 1.Global equities are rallying, led by the AI theme following MU earnings, as the macro regime shifts to recovery/expansion.
• 2.JPM remains bullish on global equities with a focus on AI, while upgrading 12m-out KOSPI targets for Korea.
• 3.Oil price forecasts were lowered due to demand losses and inventory rebalancing.

Table of Contents

• MKT INTEL VIEWS
• MOMO CROWDING AT SUSTAINED HIGHS
• IDEA & INSIGHTS – IN BRIEF
• IDEA & INSIGHTS – IN DETAILS
• POSITIONING INTELLIGENCE

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