Epstein Secrets

ies News) Leading European Sectors: Telco +0.28%, Trav/Les -0.13%, Chemicals -0.06% Lagging European Sectors: Real Estate -1.32%, Oil & Gas -1.02%, Utilities -1.00% MELI penny light - GCA penny better - AMEN loss worse EFTA00413483 RBCN guides eps down - FNGN eps inline - STEC sees weak q2 CQB eps mis

a Securities Regulatory Commission to accelerate QFII approvals (Shanghai Securities News) Leading European Sectors: Telco +0.28%, Trav/Les -0.13%, Chemicals -0.06% Lagging European Sectors: Real Estate -1.32%, Oil & Gas -1.02%, Utilities -1.00% MELI penny light - GCA penny better - AMEN loss worse EFTA

00370757 Leading European Sectors: Banks +1.26%, Basic Res +1.18%, Chemicals +1.09% Lagging European Sectors: Food/Bev -0.18%, Autos/Parts -0.05%, Utilities +0.04% RJF eps missed — ALGN view trailed — SYK eps missed TSCO revs missed — ANGI rev view topped — LSI revs below RHI eps beat — GHL revs missed

ts: headline number weaker (-0.3% y/y versus February +7.0%), but HK strong EFTA00370757 Leading European Sectors: Banks +1.26%, Basic Res +1.18%, Chemicals +1.09% Lagging European Sectors: Food/Bev -0.18%, Autos/Parts -0.05%, Utilities +0.04% RJF eps missed — ALGN view trailed — SYK eps missed TSCO re

g October consumer prices +4.3% from a year earlier versus estimate +4.5% and +4.6% prior Leading European Sectors: Healthcare +0.25%, Banks +0.20%, Utilities +0.20% Lagging European Sectors: Basic Res -0.92%, Tech -0.53%, Retail -0.52% JCI raised buyback & dividend — BV ceo to step down — FFHL earnings l

C, DBK upgrade EBS AV, RBI AV, MAQ downgrade SVT LN ••• GS upgrade European Banks, Telecoms, UK Homebuilders, downgrade European Media, Industrials, Chemicals ••• HSBC downgrade ML FP, SIX2 GY, initiate ARM LN (ow), upgrade PC IM, • Nordea upgrade ROCKB DC, Numis downgrade ICP LN, MS upgrade SGC LN • UBS

perspective. Financials are now trading around median relative valuation levels. Healthcare PE relative is at the bottom of the historical range and Utilities relative PE is also close to the prior low hit in 2013. Food & Beverage still commands a large premium and PE- relative is 6-10% above the 2010 / 201

5 olw +150 14.0 112% Banks SX7P 12.4 n 0 12.4 00% Media SXMP 26 olw +100 3.6 138% BasicResou SXPP 3.0 n 0 3.0 00% Utilities SX6P 3.9 olw +100 49 125% Chemicals SX4P 5.0 n 0 5.0 00% Constr&Mtr SXOP 3.0 n 0 3.0 00% Trav&Leisr SXTP 1.8 ulw -150 0.3 15% FinServ SXFP 1.9 n 0 1.9 00% Food&Bevrg SX3P 5.9 ulw -150 4