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  "notes": "The chart highlights a correlation between periods of a declining dollar (shaded grey) and international outperformance.",
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      "text": "Source: FactSet, MSCI, J.P. Morgan Asset Management. MSCI EAFE Index A benchmark tracking large- and mid-cap stocks in developed markets across Europe, Australasia and the Far East, excluding the U.S. and Canada. Past performance is no guarantee of future results. Guide to the Markets – U.S. Data are as of March 30, 2026.",
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      "text": "Cycles of DM ex-U.S. outperformance and USD. International developed out/underperformance vs. U.S., MSCI EAFE, MSCI USA, DXY Index, total return, rolling 3-year ann.",
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