Global Macro Research May 27th, 2025 Global Macro Outlook and Strategy Global Rates, Commodities, Currencies and Emerging Markets Luis Oganes AC (44-20) 7742-1420 luis.oganes@jpmorgan.com J.P. Morgan Securities plc See the end pages of this presentation for analyst certification and important disclosures. {[{xTcfaSlj-ZSQMv-ljRpIMwGzXxb6rqz1qfzQpSq_KChQSSrQEzvkmQ}]} Overall summary US Rates International Rates DM yields sold off at the start of the week as US/China delivered a more constructive outcome than ...