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information, please visit our wcbsite at vAvw.ubs.comAvorkinguithus. CUBS 2016. All rights reserved. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA/SIPC. All other trademarks, registered trademarks. service marks and registered service marks arc of their respective companies. UBS
Below is a note and links to timely research from our Chief Investment Officer, Mike Ryan. In addition we have attached an interesting article from Ken Rogoff of Harvard along with a helpful chart of the process for the UK from here. If you'd like to set up time to discuss these events, and how they impact
nformation. please visit our vvebsite at wvivv.ubs.com/workingwithus. CUBS 2016. All rights reserved. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA/SIPC. All other trademarks. registered trademarks, service marks and registered service marks are of their =Naive companies. UBS Fina
Below is a note and links to timely research from our Chief Investment Officer, Mike Ryan. In addition we have attached an interesting article from Ken Rogoff of Harvard along with a helpful chart of the process for the UK from here. If you'd like to set up time to discuss these events, and how they impact
re information, please visit ow website at www.ubscom/oorkineoithus. CUBS 2016. All rights reserved. UBS Financial Services Inc. is a subsidiary. of UBS AG. Member FINRA/SIPC. All other trademarks, registered trademarks, service marks and registered service marks are of their respective companies. UBS
Below is a note and links to timely research from our Chief Investment Officer, Mike Ryan. In addition we have attached an interesting article from Ken Rogoff of Harvard along with a helpful chart of the process for the UK from here. If you'd like to set up time to discuss these events, and how they impact
Entities connected to both UBS AG and Ken Rogoff

Ghislaine Maxwell
PERSONUBS Financial Services Inc.
ORGANIZATIONthe Securities and Exchange Commission
ORGANIZATION
Paul Ryan
PERSONScott Stackman
PERSONUBS Investment Management Canada Inc.
ORGANIZATIONMolly
PERSONMolly Ladd
PERSONUBS Financial Services Incorporated of Puerto Rico
ORGANIZATIONMike Ryan
PERSONLyle & Scott
ORGANIZATIONCIO Wealth Management Research
ORGANIZATIONBarron's Top
ORGANIZATIONUBS Private Wealth Management
ORGANIZATIONScott Stockman
PERSON