J.P. Morgan Market Commentary – August 4, 2011

J.P. Morgan Market Commentary – August 4, 2011 The document is a routine investment outlook with no specific allegations, names, transactions, or actionable leads linking powerful actors to misconduct. It contains only generic market analysis and standard disclosures. Key insights: Discusses macroeconomic outlook and investment positioning for 2011.; Mentions J.P. Morgan CIO Michael Cembalest’s views on cash, gold, and corporate valuations.; Contains extensive legal and regulatory disclaimer language.