Epstein Secrets

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

Dec nS8P 500 Monthly Returns Lest 20 Yews (LHS) •% Time Positive (Last 20 Years) (RHS) Figure 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 rat

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

Dec nS8P 500 Monthly Returns Lest 20 Yews (LHS) •% Time Positive (Last 20 Years) (RHS) Figure 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 rat

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

Dec nS8P 500 Monthly Returns Lest 20 Yews (LHS) •% Time Positive (Last 20 Years) (RHS) Figure 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 rat