The US economy has seen unemployment fall well below 5% as the markets have reached record highs.

But upon closer examination, the true state of the markets and the overall economy is more complicated.

The Fed trying to reduce its balance sheet at a time when the rise of economic nationalism has some worried about the direction of the economy and the potential effects of the next recession.

JPMorgan Asset Management has published its third-quarter presentation on the state of the markets and the economy.

Through almost 70 slides of charts and graphics, they provide insight into the state of equities and both the US and global economy.

Thanks to JPMorgan Asset Management for giving us permission to feature this presentation.