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OVERSIGHT_014575 --- PAGE BREAK --- Exhibit 41: European Commission Industrial Confidence Survey Eurozone business s
titative easing through December 2017. Meanwhile, the European Commission has endorsed a moderate fiscal easing of 0.5% of
extremist parties win enough support to break away from the European Union? In France, for example, upcoming elections in May 2017 are likely to pit Francois Fillon of Les Républicains against Marine Le Pen of the far right Front National. Le Pen has promised a referendum on whether France should stay in the Euro
Page: HOUSE_OVERSIGHT_014561 →Investment Strategy
asset class also received a boost last week when the European Commission submitted a proposal for AT1 coupons to be priori
ential to be even more of an earthquake for the world’s financial markets. Our central case is that centre right President is elected in France (with Francois Fillon now the official Republican candidate) and Merkel is returned at the head of a coalition government in Germany. Chart 19: German polls show a consis
Page: HOUSE_OVERSIGHT_014443 →ential to be even more of an earthquake for the world’s financial markets. Our central case is that centre right President is elected in France (with Francois Fillon now the official Republican candidate) and Merkel is returned at the head of a coalition government in Germany now that she has indicated she will st
Page: HOUSE_OVERSIGHT_014467 →ck-up in EU Consumer Confidence should boost Media 0.9 0 0.85 r 0.95 09 °8 -10 0.75 0.85 15 07 08 === Stoxx Media Price relative -20 0.65 0.75 ———European Commission Consumer _5¢ 0.6 Confidence Index 0.7 emmee Stoxx Media-relative to Tech 0.55 -30 0.65 a NS © RS ee ee et ee He Hote Hoe HESOE FPS GF WT SF CF CE
Page: HOUSE_OVERSIGHT_014492 →Entities connected to both Francois Fillon and the European Commission

Donald Trump
PERSON
United States
LOCATION
Barack Obama
PERSON
Michael Bloomberg
PERSON
Paul Ryan
PERSON
United Kingdom
LOCATION
Michael Cohen
PERSON
Atlanta
LOCATION
Marc Rich
PERSON
Bill Clinton
PERSON
Bloomberg L.P.
ORGANIZATION
George W. Bush
PERSON
Chile
LOCATION
Department of Justice
ORGANIZATION
Michigan
LOCATION
New York
LOCATION
John F. Kennedy
PERSON
Seoul
LOCATION
Philadelphia
LOCATIONThe Monetary Authority of Singapore
ORGANIZATION