Epstein Secrets

60- year-old, middle-class matron from Tehran. "Things are getting worse by the day," says a 57-year-old Iranian academic preparing to emigrate to North America. "It is better to get out now while it's still possible." While Iranians are increasingly fretful of an imminent attack, they remain broadly unawar

y of the EU treaty's proscription of bailouts for governments; rejection of European economic governance; the ban on direct government financing by the European Central Bank; refusal to support EFTA00711886 mutual liability for debt; and, finally, the transformation of the ECB from a copy of the old Bundesbank into a

s, resulting in the shuttering of dozens of underperforming locations. L Brands announced in February plans to dose about 53 Victoria's Secrets in North America this year, more than three times the 15 it's historically closed in an average year. "Given the decline in performance at Victoria's Secret, we ha

er of industrial oil manufacturer Hafa. Bottlenecks in labor supply are one of the main constraints on growth in the European economy, frustrating the European Central Bank. After slash- ing interest rates and pumping billions into the economy with quantitative easing, the ECB says the onus is now on governments to do

quality. ¢ The economic recovery fails to gain momentum in the second half of the year. Credit demand fails to improve further as some of the recent European Central Bank (ECB) data indicates. The ECB cuts rates. ¢ Further quantitative easing by the Fed would be supportive for Bunds and speaks for lower yields. & Negat

out ratios in the US and Asia, while Europe has to consolidate balance sheets. Preference (6 months) Our market preferences for listed real estate* North America = Continental Europe | | = =i ues Japan| | OT =U HongKong — Sngpore | | tt (‘<‘é édT;S*é‘( C‘i‘Cédr:C*S Avswaia [| | |S = Old m New * This is our rel

tion of US Treasury and German Bund yields are important for EM fixed income spreads, especially for USD- and EUR-denominated bonds. Key date: Dec 6, European Central Bank meeting Capital flows The European debt crisis may lead to further periods of outflows and weaker prices, which could offer attractive entry levels

s related to Syria-Turkey is likely to ease supply concerns. This should keep the market focus on weak demand growth and strong crude oil output from North America, allowing the Brent price to temporarily reach USD 95/bbl. e A weaker USD, reduced economic tail risk for Europe, ongoing social turmoil in the Middl