JPMorgan has upgraded its outlook on emerging market (EM) equities, signaling a more bullish stance on these assets. The bank's equity strategy highlights India as one of the top picks within emerging markets. Concurrently, JPMorgan projects that European stocks could outperform U.S. equities by a record 25 percentage points this year. Despite recent volatility, including a 2.6% drop in the S&P 500 last week which pushed its year-to-date return into negative territory at -1.3%, JPMorgan maintains a tactical bullish view on the U.S. market. This optimism is supported by expectations of stable macroeconomic data, positive corporate earnings, and further de-escalation of the trade war. However, JPMorgan also warns that bond yields may rise due to tariff-driven inflation and fiscal concerns, which could influence market dynamics. Overall, the bank anticipates international markets will continue to trade more favorably throughout the year.