Epstein Secrets

00 7.77 7.48 Fa ecast as °OW-06-2017 Spec exchange rate as of 06-Xill 7 Source. BofAhlemll LrxhOWS Research. Blocrebeig Table 9: EM FX Forecasts Lath America Spot Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 USDBAL 3.29 135 3.40 3.45 3.50 3.55 3.60 USDAAXN 18.33 18.80 19.50 20.00 20.00 2

balances point to deficits of 210 kbd in 2017 and 90 kbd in 2018. We lower our WTI forecasts to average $47 this year and $50.bbl next year. We cut Brent to $50 this year and $52bbl in 2018. We now beleve oil stays in contango by yearend. but see a WTI forward anchor al $45.50 and S5 backwardation by

1.8 2.3 1.8 1.3 3.1 1.5 1.0 1.5 2.5 3.0 1.9 1.9 1.6 1.4 Canada 2.6 2.0 1.7 1.7 0.6 1.5 1.7 2.0 2.2 2.5 1.6 1.6 1.4 2.0 Lath America 4.2 2.4 1 3.7 2.0 2,2 4 3.7 3.9 4.1 4.0 t 3.9 4.9 5.3 5.3 5.1 Argentina 8.9 2.7 3.6 .3.7 1 2.51 lag 2.0 2.5 2.0 2.0 9.9 10.0

make the largest gain with close to 14%, closely followed by base metals and precious metals with 12% and 9% respectively. Our oil strategists see Brent at $120/bbl by year end, driven by higher demand as the global economy should improve sequentially towards the end of 2013. Agriculture prices are

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

affairs and security policy of the European Union. EFTA00586501 14 The Economist Oil and the Arab world's unrest Feb 24th 2011 -- A month ago Brent crude oil stood at around $96 a barrel and Hosni Mubarak was ensconced as Egypt's ruler. Now he is gone, overthrown by a display of people power th