Epstein Secrets

eas Deutsche Bank equity research analysts sometimes have shorter-term trade ideas (known as SOLAR ideas) that are consistent or inconsistent with Deutsche Bank's existing longer term ratings. These trade ideas can be found at the SOLAR link at http://gm.db.com. 3. Country-Specific Disclosures Australia and

l Head of Research Marcel Cassard Global Head CB&S Research Asia-Pacific Fergus Lynch Regional Head International Locations Deutsche Bank AG Deutsche Bank Place Australia Tel: D t iei n n London EC2N 2EQ United Kin dom Tel: Deutsche Bank AG 1rma Tel: .1111111. Deutsche Bank Securities Inc. United S

rector Equity Research North America Steve Pollard Regional Head Global Disclaimer The information and opinions in this report were prepared by Deutsche Bank AG or one of its affiliates (collectively "Deutsche Bank"). The information herein is believed to be reliable and has been obtained from public source

ider this report in deciding to trade on a proprietary basis. Unless governing law provides otherwise, all transactions should be executed through the Deutsche Bank entity in the investor's home jurisdiction. In the U.S. this report is approved and/or distributed by Deutsche Bank Securities Inc., a member of th

es, and fears on Canadian housing are likely overdone. We maintain our recently entered CAD/JPY long. Having recently exited our long-held bullish AUD/CAD and NZD/CAD views from our previous Blueprint, we now also go short NZD/CAD. T. With AUD looking to have clearly overshot to the downside we do no

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call funded by selling a 102/91.50 RKI put for zero cost off spot ref 104.40. Trade 4: Lower USD-CAD beta Implied correlation between AUD/USD and AUD/CAD has remained elevated (-86% percentile), which provides sizable cheapening to AUD/USD puts by selling correlation. This relationship relates to CA

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opportunities in vol surface distortions; specifically buying EUR/USD FVAs, USD/JPY vol swaps and risk reversals, plus AUD/USD puts cheapened with AUD/CAD KOs if at i • Hedge ;:,gain9t event-ris4s with EUR/USD FVA,::: Despite potential catalysts such as the US fiscal impasse and EU political uncerta