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rcial and industrial loans have been positive for 19 consecutive quarters. ISM Index Oct-07 Sep-11 Footnotes: Data as of December 2015. Source: Bloomberg Finance LP, Deutsche Bank Wealth Management. Aug-15 Vehicle sales are at the highest level (-18 million annual rate) since 2005. Footnotes: Data as of Novem

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rch 25, 2016. Source: FactSet, Deutsche Bank Wealth Management. Deutsche Bank Wealth Management Footnotes: Data is as of March 18, 2016. Source: Bloomberg Finance LP, Deutsche Bank Wealth Management. 20 Jan-15 Jan-16 EFTA01477978 bbls/day. However, supply is still too high and will According to the Departme

Wealth Management 22 subsidiaries offered through Deutsche Bank constraints. The of emerging market investments may EFTA01477988 Biographies Larry Adam Chief Investment Officer and Chief Investment Strategist Deutsche Bank Wealth Management—Americas Larry Adam is a Managing Director and serves the

rch 25, 2016. Source: FactSet, Deutsche Bank Wealth Management. Deutsche Bank Wealth Management Footnotes: Data is as of March 18, 2016. Source: Bloomberg Finance LP, Deutsche Bank Wealth Management. 20 Jan-15 Jan-16 EFTA01478048 bbls/day. However, supply is still too high and will According to the Departme

Wealth Management 22 subsidiaries offered through Deutsche Bank constraints. The of emerging market investments may EFTA01478058 Biographies Larry Adam Chief Investment Officer and Chief Investment Strategist Deutsche Bank Wealth Management—Americas Larry Adam is a Managing Director and serves the