Epstein Secrets

es to stabilize we see limited risk for either event. Lastly, corporate America remains healthy and default expectations remain historically low. Deutsche Asset S. Wealth Management July 31. 2015 Focus of the week Equities: With valuations heightened and negative seasonality, we remain cautious on equities

emain cautious on equities in the near term. Fixed Income: Despite recent weakness in high yield we remain constructive long term on the sector. Barclays U.S. Corporate High Yield / Energy Spread (in bps) —Barclays U.S. Corporate High Yield Spread (in bps) Figure 2: High yield weakness is energy-related Source: Fa

es to stabilize we see limited risk for either event. Lastly, corporate America remains healthy and default expectations remain historically low. Deutsche Asset S. Wealth Management July 31. 2015 Focus of the week Equities: With valuations heightened and negative seasonality, we remain cautious on equities

emain cautious on equities in the near term. Fixed Income: Despite recent weakness in high yield we remain constructive long term on the sector. Barclays U.S. Corporate High Yield / Energy Spread (in bps) —Barclays U.S. Corporate High Yield Spread (in bps) Figure 2: High yield weakness is energy-related Source: Fa

es to stabilize we see limited risk for either event. Lastly, corporate America remains healthy and default expectations remain historically low. Deutsche Asset S. Wealth Management July 31. 2015 Focus of the week Equities: With valuations heightened and negative seasonality, we remain cautious on equities

emain cautious on equities in the near term. Fixed Income: Despite recent weakness in high yield we remain constructive long term on the sector. Barclays U.S. Corporate High Yield / Energy Spread (in bps) —Barclays U.S. Corporate High Yield Spread (in bps) Figure 2: High yield weakness is energy-related Source: Fa