Epstein Secrets

The MSCI EM Index is a market cap-weighted index composed of companies representative of the market structure of emerging market countries in Europe. Latin America. and the Pacific Basin - The Barclays Municipal Short/Intermediate Index is a market-value-weighted index engineered for the short to intermediate p

oducts and services may be limited by applicable law Any products mentioned herein are not FDIC insured and are not obligations of nor guaranteed by Deutsche Bark AG or its affiliates Opinions expressed herein may differ from the opinions expressed by departments or other divisions or affiliates of Deutsche Bank.

of their respective owners. 'Deutsche Bank' means Deutsch Bank AG and its affiliated companies. as the context requires. Wealth Management refers to Deutsche Bark's wealth marogernent activities for high-net-worth clients around the world Discretionary portfolio management is offered through Deutsche Bank Trust

! Restaurants International Design Futurist SM Deloitte Science, Technology and Innovation Council GNP Assurances SA Alshaya Group Telef6nica Latinoamerica The Dashwood Group Gulf International Bank BSC (GIB) Eurocash SA Reliance Industries Ltd Central Informatics Organization SICPA Holding SA S

Kullman Manu Kumar Howard Kunreuther Rolf Kuntz Vera Kurochkina Haruhiko Kuroda Vice-President, European Parliament, Brussels Vice-Chairman, Deutsche Bank Group Managing Director and Chief Executive Officer James E. Robison Professor of Business Administration Director-General Associate Professor of Fin

! Restaurants International Design Futurist SM Deloitte Science, Technology and Innovation Council GNP Assurances SA Alshaya Group Telef6nica Latinoamerica The Dashwood Group Gulf International Bank BSC (GIB) Eurocash SA Reliance Industries Ltd Central Informatics Organization SICPA Holding SA S

Kullman Manu Kumar Howard Kunreuther Rolf Kuntz Vera Kurochkina Haruhiko Kuroda Vice-President, European Parliament, Brussels Vice-Chairman, Deutsche Bank Group Managing Director and Chief Executive Officer James E. Robison Professor of Business Administration Director-General Associate Professor of Fin

ailable DM ECI ECI Region of Risk Implementation Vehic le JPMS ADP ISIN Trade Type Original Face Amount Price with Sinking Bond Fact ed JPM LATIN AMERICA FD - SEL FUND 3815 JLTSX 4812A3478 16/09/2013 USD USD 49504.95 49504.95 0.0 18.17 16/09/2013 1000000.0 1000000.0 1000000.0 1000000.0 8995

99504.94 899504.94 0.0 0.0 841.58 841.58 -100495.05 -100495.05 1.0 0.0 0.0 0.0 9710670708 0241499376 Non US Equity Benchmark Aware 0.0 DEUTSCHE BK AG LDN BRH DEL LONG ETN38 DAG 16/09/2013 USD USD 50000.0 50000.0 0.0 8.58 16/09/2013 352529.0 352529.0 352529.0 352529.0 429000.0 429000.0

, Mr. Rodriguez was a Vice President at BNP Paribas in the Loan Syndications group with a focus on structured and leveraged syndications in North and Latin America. Mr. Rodriguez received a BA in Economics from Trinity College and an MBA from Kellogg Graduate School of Management at Northwestern University. Jon

cture debt investment opportunities. Prior to joining Deutsche Asset Management in 2014, Mr. Woods spent five years working in investment banking in Deutsche Bank's Leveraged Finance Group. During his time in investment banking, Mr. Woods worked on numerous leveraged loan and high yield bond financings for acqui

, Mr. Rodriguez was a Vice President at BNP Paribas in the Loan Syndications group with a focus on structured and leveraged syndications in North and Latin America. Mr. Rodriguez received a BA in Economics from Trinity College and an MBA from Kellogg Graduate School of Management at Northwestern University. Jon

cture debt investment opportunities. Prior to joining Deutsche Asset Management in 2014, Mr. Woods spent five years working in investment banking in Deutsche Bank's Leveraged Finance Group. During his time in investment banking, Mr. Woods worked on numerous leveraged loan and high yield bond financings for acqui

uidity Given the challenges facing many EM economies, the coming year will likely see a marked divergence in monetary policy across the regions. In Latin America, despite a reasonably subdued growth backdrop, we expect central banks to raise interest rates in most countries and by almost as much as the Fed.

Matthew Luzzetti, (44) 20 754 73288 Michael Spencer, (852) 2203 8303 EFTA01475995 Mark Wall, (44) 20 754 52087 Torsten Slok, (1) 212 250 2155 Deutsche Bank AG/London Page 17 EFTA01475996 8 December 2015 World Outlook 2016: Managing with less liquidity US: Dollar drag IIOn the back of weak manufacturin

evious crises. In the 1970s production was concentrated around the Persian Gulf. Since then a gusher of non-OPEC oil has hit markets from fields in Latin America, west Africa and beyond. Russia overtook Saudi Arabia as the world's biggest crude supplier in 2009; OPEC's share of production has gone from aroun

. Demand rose by a blistering 2.7m b/d last year, according to the International Energy Agency, and is set to grow by another 1.7m b/d this year by Deutsche Bank's reckoning. Many other producers are already running at full capacity; OPEC has its hands on the only spare oil. If Libya's oil stopped flowing imp