Epstein Secrets

ral rise in saving preferences post-crisis, we argue that Europeans now have to become net creditors to the rest of the world. • We find that the Eurozone's NIIP needs to rise from -10% of GDP to at least 30% for Europe's current account surplus to become sustainable. We estimate that this adjustment

forecasts lower. We now see EUFt/LISD moving down to 1.00 by year-end. 90cents by 2016 and down to a trough of 85cents by 2017. Date 9 March 2015 George Saravelos Strategist a We also foresee a continuation of low and flat global yield curves: Europe will continue being a major source of global imbalances f

become a hindrance, and what opportunities does it create? He also considers how Greece is reacting to the pressures to change and in what ways the Eurozone itself needs to adapt and develop. In our asset-class perspectives, we focus this month on Eurozone and Asia ex-Japan equities. More on these topi

y Adam, our US Wealth Management CIO, gives a brief US macro update and his views on the Chinese equity markets. FX Daily — Co-Head of FX Research, George Saravelos, revisits his bearish EUR/USD view in light of large-scale European capital outflows and an impending Fed tightening cycle. Paul Morris Managing

— FX Strategists George Saravelos and Robin Winkler show that their "Euroglut" hypothesis, first introduced in October 2014, is now a reality; the Eurozone has experienced an unprecedented shift in portfolio outflows that have helped keep global yields unusually low and caused dramatic weakness in the

s — David Bianco, U.S. Equity Strategist, explains the reasoning behind his 5% S&P EPS growth estimate for 2016. DB Special Report — FX Strategists George Saravelos and Robin Winkler show that their "Euroglut" hypothesis, first introduced in October 2014, is now a reality; the Eurozone has experienced an unprec

become a hindrance, and what opportunities does it create? He also considers how Greece is reacting to the pressures to change and in what ways the Eurozone itself needs to adapt and develop. In our asset-class perspectives, we focus this month on Eurozone and Asia ex- Japan equities. More on these topi

dam, our US Wealth Management CIO, gives a brief US macro update and his views on the Chinese equity markets. • FX Daily - Co-Head of FX Research, George Saravelos, revisits his bearish EUR/USD view in light of large-scale European capital outflows and an impending Fed tightening cycle. Paul Morris Managing D