Epstein Secrets

k of England supports equities. Key date: 8 Nov, Bank of England policy meeting 2 UBS Recommendations Tactical

ding to market capitalization. Developments in commodity prices affect earnings estimates. Commodity prices Policy action Loose monetary policy by the Bank of England supports equities. Key date: 8 Nov, Bank of England policy meeting 2 UBS Recommendations Tactical (6 months) e The UK offers an attractive 4% di

y found in Singapore, Taiwan & HK, complemented by growth-oriented stocks in the rest of Asia. Country preferences within Asia ex Japan (relative to MSCI Asia ex Japan) underweight neutral overweight China —————] Hong Kong India Indonesia | Korea a Malaysia | Philippines 7 Singapore Taiwan Thailand Others

Yield Screen (yield) James Barty Long SXDP Index Ronan Carr Equities Long Nikkei Shusuke Yamada Long European index dividend futures James Barty Long MSCI Asia ex-Japan Ajay Kapur Long RTY short SPX 2y variance swap Nitin Saksena 3000-2850 SX5E put spread Dec 16 expiry James Barty Equity vol Long NKY short S

& Source: Bloomberg Source: Bloomberg The other fixed income trade we continue to like is short 5Y UK real rates. The market continues to discount the Bank of England consistently overshooting its inflation target without a response on monetary policy. Yet Governor Carney and other members of the BOE’s MPC have sai

ment in 2H 2012. Still, economic activity is likely to remain very sluggish despite support from lower oil prices and less rigorous fiscal austerity. The Bank of England may support the UK economy by increasing its amount of bond purchases soon. The probability that the ECB will take further action to support the econ

of the document. HOUSE_OVERSIGHT_024154 --- PAGE BREAK --- Asian equities (ex-Japan) MSCI Asia ex-Japan (27 June): 469 (last month: 466) UBS View MSCI Asia ex-Japan (6-month target): 515 ¢ The region continued to show high volatility last month, with its P/BV temporarily close to 2008 lows. ¢ Hong Kong a