Epstein Secrets

erest rates in 2014 many European and Asian investors started buying US rates and also the next-door neighbor to US rates namely US IG. With higher US Treasury yields, rising hedging costs, a falling dollar, and signs that the ECB will end QE in September foreign demand for US credit is slowing, see chart b

Let us know if you would like to add a colleague to this distribution list. Torsten Stoic Ph.D. Chief International Economist Managing Director Deutsche Bank Securities 60 Wall Street New York, New York 10005 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0090563 CONFIDENTIAL SDNY_GM_00236747 EFTA013

ECB exit and higher US Treasury yields leading to less demand from abroad for US IG S billion 30 - 20 - 10 - 0 -10 -20 - -30 I When ECB put interest rates negative in 2014

Let us know if you would like to add a colleague to this distribution list. Torsten Stoic Ph.D. Chief International Economist Managing Director Deutsche Bank Securities 60 Wall Street New York, New York 10005 This communication may contain confidential and/or privileged information. If you are not the intended re

erest rates in 2014 many European and Asian investors started buying US rates and also the next-door neighbor to US rates namely US IG. With higher US Treasury yields, rising hedging costs, a falling dollar, and signs that the ECB will end QE in September foreign demand for US credit is slowing, see chart b

Let us know if you would like to add a colleague to this distribution list. Torsten Slok, Ph.D. Chief International Economist Managing Director Deutsche Bank Securities 60 Wall Street New York, New York 10005 Tel: 108 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0090902 CONFIDENTIAL SDNY_GM_002370

ECB exit and higher US Treasury yields leading to less demand from abroad for US IG S billion 30 - 20 - 10 - 0 -10 -20 - -30 I When ECB put interest rates negative in 2014

Let us know if you would like to add a colleague to this distribution list. Torsten Stoic Ph.D. Chief International Economist Managing Director Deutsche Bank Securities 60 Wall Street New York, New York 10005 This communication may contain confidential and/or privileged information. If you are not the intended re