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ureau (Kinsho) No. 117. Member of associations: JSDA, Type II Financial Instruments Firms Association, The Financial Futures Association of Japan, Japan Investment Advisers Association. This report is not meant to solicit the purchase of specific financial instruments or related services. We may charge commissions and fees for ce
tfolio inflows have turned marginally positive... Figure 8: _as equity market inflows outpace the money market outflows Source: Deutsche Bank and European Central Bank Source: Deutsche Bank and European Central Bank Figure 9: Equity inflows have tracked the STOXX Figure 10: Foreign interest on the bond side boome
au (Kinsho) No. 117. Member of associations: JSDA, Type II Financial Instruments Firms Association, The Financial Futures Association of Japan, and Japan Investment Advisers Association. Commissions and risks involved in stock transactions - for stock transactions, we charge stock commissions and consumption tax by multiplying the
Republic of Germany with its principal office in Frankfurt am Main. Deutsche Bank AG is authorized under German Banking Law (competent authority: European Central Bank) and is subject to supervision by the European Central Bank and by BaFin, Germany's Federal Financial Supervisory Authority. Research Deutsche Ba
ureau (Kinsho) No. 117. Member of associations: JSDA, Type II Financial Instruments Firms Association, The Financial Futures Association of Japan, Japan Investment Advisers Association. This report is not meant to solicit the purchase of specific financial instruments or related services. We may charge commissions and fees for ce
Treasury Figure 41: Net portfolio flows have turned inwards... Figure 42: ...as equity inflows surpass the bond outflows Source: Deutsche Bank and European Central Bank Source: Deutsche Bank and European Central Bank Deutsche Bank Securities Inc. Page 31 EFTA01464362 30 July 2013 Exchange Rate Perspectives: FX
Entities connected to both Japan Investment Advisers Association and European Central Bank

New Zealand
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Malaysia
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Frankfurt
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United Kingdom
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Bloomberg L.P.
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JPMorgan Chase
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Columbia University
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Deutsche Bank
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Philippines
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Moody's
ORGANIZATIONStandard & Poor's
ORGANIZATIONthe Kanto Local Finance Bureau
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Prince Charles
PERSON
Chile
LOCATIONthe Prudential Regulation Authority
ORGANIZATIONNippon
ORGANIZATIONAssociation of Japan
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Norway
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Hungary
LOCATIONJ.P. Morgan Securities LLC
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