Epstein Secrets

ll as weaker supply growth, largely in Iraq and Libya. • Recent reports of a peace agreement in Libya between the rebels and the government caused Brent to fall by around 5%. We think a quick and full recovery in production is unlikely and we also think overall production capacity is now lower due t

gan India Private Limited (Corporate Identity Number - U67120M111992FTC068724), having its registered office at I.P. Morgan Tower, Off. C.S.T. Road, Kalina, Santacruz - East, Mumbai - 400098. is a member of the National Stock Exchange of India Limited (SEW Registration Number - INB 23067523111NF 2306752

rporates (CEMBI) 10.1% 9.5% 13.1% 21.0% 16.4% 15.4% Quarterly Averages Commodities Current 1204 1301 1302 1303 GSCI Index YID Return' Brent (Sibbl) 110 105 112 105 120 Energy -3.7% Gold (Stoz) 1733 1725 1750 1775 Precious Metals 8.7% Copper IS/metric ton) 7629 8300 8500

Taiwan Securities and Futures Bureau. India: I.P. Morgan India Private Limited, having its registered office at J.P. Morgan Tower, Off. C.S.T. Road, Kalina, Santacruz East, Minitel - 400098, is a member of the National Stock Exchange of India Limited (SEW Registration Number • tNB 210675211/INF 23067523

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

d by the Taiwan Securities and Futures Bureau. India: Morgan India Private Limited, having its registered office at Morgan Tower, Oft. C.S.T. Road, Kalina, Santacruz East. Mumbai 400098, is a member of the National Stock Exchange of India Limited (SEBI Registration Number - INB 230675231/INF 230675231/