Epstein Secrets

Internal Use Only Thought provoking charts. From: Isin Sumengen-Ziel (DEUTSCHE BANK AG, LO) Sent: Wednesday, September 09, 2015 10:09 AM Subject: Gautam:EMEA FX Chartpack: high yielders vs. low yielders divergence Given the volatile price action in the EMEA high betas (TRY, RUB, ZAR), the below chart

ch' levels we have seen in the recent past. N EFTA_R1_01609452 EFTA02489141 2) Financial fair value (based on a regression of spot on S&P, VIX, Crude, CRB, US 10y, DXY, carry): According to our short term 'financial fair value' metric, EM FX is cheap almost across the board, with ZAR being the t

king charts. From: Isin Sumen en-Ziel DEUTSCHE BANK AG LO) [mailto:=a href= target="_blank" Sent: Wednesday, September 09, 2015 10:09 AM Subject: Gautam:EMEA FX Chartpack: high yielders vs. low yielders di=ergence Given the volatile price action i= the EMEA high betas (TRY, RUB, ZAR), the below chart

ut we are st=ll far below the 'stretch' levels we have seen in the rece=t past. 2) Financial fair value (based on a regression of=spot on S&P, VIX, Crude, CRB, US 10y, DXY, carry): According to our short term 'financial fair =alue' metric, EM FX is cheap almost across the board, with ZAR bei=g the th

Use Only Thought provoking charts. From: Isin Sumengen-Ziel (DEUTSCHE BANK AG, LO) [mailto: Sent: Wednesday, September 09, 2015 10:09 AM Subject: Gautam:EMEA FX Chartpack: high yielders vs. low yielders divergence Given the volatile price action in the EMEA high betas (TRY, RUB, ZAR), the below chart

ch' levels we have seen in the recent past. N. EFTA_R1_01610718 EFTA02489957 2) Financial fair value (based on a regression of spot on S&P, VIX, Crude, CRB, US 10y, DXY, carry): According to our short term financial fair value' metric, EM FX is cheap almost across the board, with ZAR being the th