Epstein Secrets

2017 to be about the same as the last couple of years. There may be further slowing of China, but India and Indonesia could see growth accelerate, Malaysia and the Philippines could maintain trend growth, and the rest of Asia could see less disappointment. Indeed, our forecast for the next two years as

ebt restructuring appears difficult to avoid, with the government being harshly constrained politically by a protracted recession with inflation. Gustavo Canonero, (1) 212 250 7530 Figure 3: Public debt dynamics turning fragile for some countries Source: IMF, Deutsche Bank Research Figure 4: Deutsche Bank f

land Romania Russia Saudi Arabia South Africa Turkey Ukraine United Arab Emirates Asia (ex-Japan) China Hong Kong India Indonesia Korea Malaysia Philippines Singapore Sri Lanka EFTA01476183 Taiwan Thailand Vietnam Latin America Argentina Brazil Chile Colombia Mexico Peru Venezu

Michael Spencer Economics Peter Hooper Torsten Slok Joe LaVorgna Mark Wall Stefan Schneider Mikihiro Matsuoka Michael Spencer Taimur Baig Gustavo Canonero Strategy Dominic Konstam Francis Yared Oleg Melentyev Jim Reid David Bianco Sebastian Raedler Alan Ruskin George Saravelos Michael Hsueh B

preciated 28 India — range bound until post-election outlook clearer 29 Indonesia — first stress test since 1997; equities expensive 31 Malaysia — low-beta but fundamentally without merit 33 Thailand — tempting only to a tactical contrarian 34 Philippines — superior fundamentals more

l returns of Turkish equities versus oil price — YoY growth, both USD (%) Source: Deutsche Bank (Marc Balston, Robert Burgess, Drausio Giacomelli, Gustavo Canonero, Taimur Baig), Haver Analytics Source: Deutsche Bank, Bloomberg Finance LP Our long-standing overweight position on Turkish equities has been by f