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  "documentTitle": "mi gtm latam br en",
  "authorId": "JPMorgan",
  "authorName": "J.P. Morgan Asset Management",
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  "notes": "The slide uses two line charts to illustrate market dynamics in Japan. The left chart shows a shift in correlation between the yen and equities, while the right chart compares performance of domestic vs. global revenue-oriented companies.",
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      "kind": "callout",
      "text": ">100: Domestically oriented companies outperforming; 100<: Globally oriented companies outperforming.",
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      "bbox": {
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      "kind": "chart",
      "text": "Correlation between the yen and Japanese equities",
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      "kind": "chart",
      "text": "Relative performance by source of revenue",
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      "text": "Correlation: -0.1",
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      "kind": "source-note",
      "text": "Source: FactSet, J.P. Morgan Asset Management. (Left) Reuters, MSCI. Japan performance calculated using local currency index. (Right) Nikkei, Domestic exposure index: Nikkei 225 Domestic Exposure Index, Global exposure index: Nikkei 225 Global Exposure Index. Data is as of October 2025. Guide to the Markets – Latin America. Data are as of March 31, 2026.",
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      "kind": "title",
      "text": "Japan: Equity market performance drivers",
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