Epstein Secrets

ment/Credit Index and includes securities in the Government and Credit indices. The Government Index includes treasuries (i.e. public obligations of the U.S. Treasury that have remaining maturities of more than one year) and agencies (i.e. publicly issued debt of U.S. Government agencies, quasi-federal corporation

he criteria during the course of the month remain in the Index until the next month-end rebalancing at which point they are dropped from the Index. Deutsche Asset Manaoeir 19 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0050076 CONFIDENTIAL SDNY_GM_00196260 EFTA01361149

ure 1. Beware of negative seasonality' Source: FactSet, Deutsche AWM Data as of July 30. 2015. • Data presented are averages for 19942014 10-year U.S. Treasuries have been in a tight range as the eventuality of rate hikes has been overshadowed by disinflation fears as commodity prices have declined and econ

es to stabilize we see limited risk for either event. Lastly, corporate America remains healthy and default expectations remain historically low. Deutsche Asset S. Wealth Management July 31. 2015 Focus of the week Equities: With valuations heightened and negative seasonality, we remain cautious on equities

ure 1. Beware of negative seasonality' Source: FactSet, Deutsche AWM Data as of July 30. 2015. • Data presented are averages for 19942014 10-year U.S. Treasuries have been in a tight range as the eventuality of rate hikes has been overshadowed by disinflation fears as commodity prices have declined and econ

es to stabilize we see limited risk for either event. Lastly, corporate America remains healthy and default expectations remain historically low. Deutsche Asset S. Wealth Management July 31. 2015 Focus of the week Equities: With valuations heightened and negative seasonality, we remain cautious on equities

ure 1. Beware of negative seasonality' Source: FactSet, Deutsche AWM Data as of July 30. 2015. • Data presented are averages for 19942014 10-year U.S. Treasuries have been in a tight range as the eventuality of rate hikes has been overshadowed by disinflation fears as commodity prices have declined and econ

es to stabilize we see limited risk for either event. Lastly, corporate America remains healthy and default expectations remain historically low. Deutsche Asset S. Wealth Management July 31. 2015 Focus of the week Equities: With valuations heightened and negative seasonality, we remain cautious on equities

ment/Credit Index and includes securities in the Government and Credit indices. The Government Index includes treasuries (i.e. public obligations of the U.S. Treasury that have remaining maturities of more than one year) and agencies (i.e. publicly issued debt of U.S. Government agencies, quasi-federal corporation

he criteria during the course of the month remain in the Index until the next month-end rebalancing at which point they are dropped from the Index. Deutsche Asset Manaoeir; 16 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0059492 CONFIDENTIAL SDNY_GM_00205676 EFTA01367868

Deutsche Asset & Wealth Management Blanche Lark Christerson Managing Director, Senior Wealth Planning Strategist Tax Topics 2013 Table of Contents 2013 12/20/13

the “Paying a Fair Share Act” (S. 2230) 03/08/12 Tax proposals on “high-income” taxpayers from President Obama's Fiscal Year 2013 2012-02 Budget and the Treasury Department’s “Green Book” 01/23/12 Estate of Petter v. Commissioner: another taxpayer victory using a “defined value” 2012-01 formula clause, and the legacy of P

ill; trust’s investment fees subject to 2% floor (Scott); tax 2003-09 apportionment (PNC Bank v. Roy); Michigan and the TPT credit (Lacks v. Michigan Department of Treasury) 05/02/03 Jobs and growth bill; flat tax proposals; tax apportionment (Kurait) 2003-08 04/11/03 Budget update; estate tax pitfalls for non-resident