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  "documentTitle": "guide to the markets asia",
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  "notes": "The chart illustrates that despite frequent intra-year declines, annual returns are often positive.",
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      "text": "Despite average intra-year drops of -4% (median: -3%), annual returns are positive in 19 of 23 (83%) years.",
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      "text": "Source: Bloomberg, FactSet, J.P. Morgan Asset Management. Returns are total returns based on Bloomberg Global Aggregate USD Hedged Total Return Index. Intra-year decline is the largest peak to trough decline during the respective year.",
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      "text": "Bloomberg Global Aggregate USD intra-year declines vs. calendar year returns. Despite average intra-year drops of -4% (median: -3%), annual returns are positive in 19 of 23 (83%) years",
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