Epstein Secrets

incipal. Bonds exchanged at par will carry low coupons (4.25% effective), while bonds with higher coupons will be exchanged at a 20% discount Source: Eurozone draft proposal July 21, 2011, IIF press release July 21, 2011 In addition to execution risk in Greece, we are left with 3 other concerns. First, whi

me to fail. Industrial production Index, 100 = January 2007 110 105 100 95 90 85 80 15 2007 2009 2010 2011 Source: INE, CSO, ISTAT, NSS, Eurostat, Bundesbank, J.P. Morgan Securities LLC, J.P. Morgan Private Bank. Periphery = Portugal, Ireland, Italy, Greece, Spain. 2008 * The current EFSF lending capacit

ncipal. Bonds exchanged at par will carry low coupons (4.25% effective), while bonds with higher coupons will be exchanged at a 20% discount Source: Eurozone draft proposal July 21, 2011, IF press release July 21, 2011 In addition to execution risk in Greece, we are left with 3 other concerns. The current

ain & Portugal 16% 105. 14% 100 17% i 10% od B% 85 G% Germany ad Ao, a aa 2007 2008 2009 2010 2011 0% aa ae ; Source: INE, CSO, ISTAT, NSS, Eurostat, Bundesbank, J.P. Morgan Ve7O gf TOG 188 TO 1D ZO aT Securities LLC, J.P. Morgan Private Bank. Periphery =Portugal, Ireland, lialy, Source: J.P. Morgan Private B

rmore, liability sovereigns explained that if the eurozone were to disband, Germany's role as the financial

16 Fig 8. 10-year government bond yields US UK Germany Japan 0.0 Source: US - US Treasury Resource Center, UK - Bank of England Data, Germany - Bundesbank Statistics, Japan - Ministry of Finance Interest Rate Index. Data taken as daily average yield on 30 December 2016. HOUSE_OVERSIGHT_026696 --- PAGE