Epstein Secrets

sury Budget @ 2pm*** ***YH0O annual meeting, China IP/GDP/Retail Sales out tonight*** Marriot earnings inline but lowers RevPar growth view outside North America (trading -2.1%) Supervalu 01 profit -45.0% and will review strategic options and suspend dividend (trading -26%) Infosys cuts FY13 dollar sales g

JPM CIO trading loss) Key Events on the Horizon July 17/18 - Bernanke gives monetary policy reports to Senate & House July 20 - Tentative date for Eurogroup meeting to finalize MoU for Spanish bank recap July 27 - 2012 Olympics Opening Ceremonies in London August 1 - FOMC rate decision, French financial

ortuguese default; a Greek euro exit; or a major external growth shock. Return to macro stability Key dates 5 July ECB press conference 9-10 July Eurogroup/ECOFIN-Meeting 24 July Eurozone purchasing manager indices (PMI), July estimates 36 UBS Bottoming in Eurozone leading indicators (PMI) in June? 6

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

ult; a Greek euro exit before the end of 2012; or a major external shock. Key dates TBD Troika report on Greece 8 Nov ECB press conference 12 Nov Eurogroup meeting 15 Nov Eurozone GDP 3Q: first estimate 22 Nov Eurozone composite purchasing managers index 22-23 Nov European Council 2 UBS Purchasing ma

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