Epstein Secrets

250bn u/weight 02 05 Source: Deutsche Bank, Bloomberg Finance LP 08 11 Swiss Franc Is Last "Safe Hav

es Malcolm Henrik Gullberg George Saravelos Caio Natividade Siddharth Kapoor Oliver Harvey Nicholas Weng New York Alan Ruskin Daniel Brehon Drausio Giacomelli Guilherme Marone Mauro Roca Singapore Sameer Goel Mallika Sachdeva Sydney John Horner Tokyo Taisuke Tanaka Head of FX Strategy Bilal Hafee

quest Prices are current as of the end of the previous trading session unless otherwise indicated and are sourced from local exchanges via Reuters, Bloomberg and other vendors . Other information is sourced from Deutsche Bank, subject companies, and other sources. For disclosures pertaining to recommendat

tion. the undersigned lead analyst(s) has not and will not receive any compensation for providing a specific recommendation or view in this report. Drausio Giacomelli/Jed Evans/Sebastian A. Brown/Gautam Kalani/Perry Kojodjojo/Mallika Sachdeva Deutsche Bank Securities Inc. Page 111 CONFIDENTIAL - PURSUANT TO FED

0 1 yr 3 year 5 year Source: Deutsche Bank, Bloomberg LP EM relative valuations are not as cheap as th

rkey Figure 71: Total returns of Turkish equities versus oil price — YoY growth, both USD (%) Source: Deutsche Bank (Marc Balston, Robert Burgess, Drausio Giacomelli, Gustavo Canonero, Taimur Baig), Haver Analytics Source: Deutsche Bank, Bloomberg Finance LP Our long-standing overweight position on Turkish equ