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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
EFTA01477421 Japan Credit Barclays U.S. High Yield 2.05% 0.41% 1.71% 0.23% Current Couponl 6.70% JPM GBI- EM Global Diversified (Local) JPM EMBIG (EM Broad Index) (Hard Currency) Yield 9.47% 7.08% Current Spread5 799 457 J J J J Next 3%+ Move6 2.40% 0.75% 2.20% 0.35% 12-Month (
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
Bund) UK Japan Credit Barclays U.S. High Yield Yg 1.89% 0.18% 1.45% -0.10% Current Couponl 6.60% JPM GBI- EM Global Diversified (Local) JPM EMBIG (EM Broad Index) (Hard Currency) Yield 8.35% 6.55% Current Spread5 700 405 Euroland (Euro Stoxx 50) Germany (DAX) UK (FTSE 100) MSCI Japa
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
Bund) UK Japan Credit Barclays U.S. High Yield Yg 1.89% 0.18% 1.45% -0.10% Current Couponl 6.60% JPM GBI- EM Global Diversified (Local) JPM EMBIG (EM Broad Index) (Hard Currency) Yield 8.35% 6.55% Current Spread5 700 405 Euroland (Euro Stoxx 50) Germany (DAX) UK (FTSE 100) MSCI Japa
Entities connected to both Bloomberg Finance LP and JPM EMBIG

Bloomberg L.P.
ORGANIZATION
Paul Morris
PERSON
Deutsche Bank
ORGANIZATIONDeutsche Asset & Wealth Management
ORGANIZATION
Frankfurt
LOCATION
New Zealand
LOCATION
Norway
LOCATION
Moody's
ORGANIZATION
Belgium
LOCATION
Denmark
LOCATION
Finland
LOCATION
New York
LOCATIONLarry Adam
PERSONMulti Asset Investment Committee
ORGANIZATIONDeutsche Asset & Wealth Management 4 Direction
ORGANIZATIONForeign Exchange/Currency
ORGANIZATIONCurrentl
LOCATIONFactSet, Deutsche Bank Wealth Management
ORGANIZATION
Luxembourg
LOCATIONEuroland
ORGANIZATION