Epstein Secrets

ams 480, for led lePollm9 information. It is the practice Of 1185 to file tht awlicatte tar reporting forms with the US Intern.R Revenue Service and PR Treasury Department and in such forms accurately usury dindenct Bract interest as tat exempt or taable income. Pleat consult ycur indvdual tax PrePater. October 2016

ons (t) period Jul 12,13 50.000 107256 5,362.83 106.542 5,427.10 64.27 LT Security total 500.0EX) 105.834 52,917.17 54,271.00 1353.83 SNGAPORE TELECCN1LTD NEW 2006 SPCN ADR Symbol: SGAPY Exchange: OTC EAI: $2,106 Current yield:3.81% Jan 29,13 1,060.000 28 260 29,955.60 31.285 33,162

GBP but lower versus AUD, CAD and most of Latin America and Asia. Thus, there has been little trend in the broad dollar, despite the 18bp backup in US Treasury yields this week. There may be some optimism towards the US economy and J.P.Morgan EM equity portfolio inflows Left axis shows EM equity portfoli

mber of the Singapore Exchange Securities Trading Limited and is regulated by the Monetary Authority of Singapore (MAS) and/or JPMorgan Chase I3ank. S. Singapore branch (JPMCB Singapore) which is regulated by the MAS. Malaysia: This material is issued and distributed in Malaysia by JPMorgan Securities (Malays

ion nor any op | Lynch (Asia Pacific) Limited in ngapore recipients of this research Merrill Lynch (Singa

=== 6m change in 30y real rates (RHS, inverted == USGGT10Y Index (R1) 5y5 | rates scale, %4) yoy real ra Source: BofA Merrill Lynch Global Research, US Treasury The BAML multi asset strategy index is not representative of all isk-parity funds. Si : BofA Merrill Lynch Global R h Source: BofA Merrill Lynch Glo

19). First, given USD/JPY’s significant correlation with 10Y yield differentials (>60%}, the anchoring of 10Y yields will further weigh on the Yen as US Treasury yields rise. Second, further Japanese fiscal stimulus will successfully lower real yields through higher breakeven rates of inflation while nominal y