Epstein Secrets

ittee Forecasts January 2016 GDP Growth in % World USA Euroland UK Japan China Inflation in % USA (core PCE) Euroland UK Japan China Curr Acct Balance in % of GDP USA Euroland UK Japan China Fiscal Balance in % of GDP USA Euroland UK Japan China Key Interest Rates USA (Fed funds) Eur

Equities 32 1096 Currentl Dividend Yield 2.2% 3.5% 2.8% 4.2% 1.9% 2.7% 3.1% P/E (LTM)2 16.27 13.26 12.30 14.97 13.71 11.27 13.36 NTM P/E Forecast3 16.75 14.50 13.75 14.75 16.00 12.00 14.00 NTM EPS Forecast3 124 236 819 400 62 39 104 EUR vs. USD USD vs. JPY EUR vs CH

t Forecasts March/April 2016 GDP Growth in % World USA Euroland UK Japan China Inflation in % USA (core PCE) Euroland UK Japan China Curr Acct Balance in % of GDP USA Euroland UK Japan China Fiscal Balance in % ofGDP of GDP USA Euroland UK Japan China KI t -2.8% -1.9% -3.3% -6.0%

s Currentl 112 1.12 113.25 1.09 1.43 6.52 Currentl 39 1220 Currentl Dividend Yield 2.1% 4.0% 2.9% 4.1% 2.3% 3.0% 3.1% P/E (LTM)2 NTM P/E 17.38 13.20 12.32 15.38 14.42 12.63 18.86 13.75 13.25 14.50 15.00 EFTA01477983 13.00 17.00 Forecast3 16.75 NTM EPS Forecast3 123

t Forecasts March/April 2016 GDP Growth in % World USA Euroland UK Japan China Inflation in % USA (core PCE) Euroland UK Japan China Curr Acct Balance in % of GDP USA Euroland UK Japan China Fiscal Balance in % ofGDP of GDP USA Euroland UK Japan China KI t -2.8% -1.9% -3.3% -6.0%

s Currentl 112 1.12 113.25 1.09 1.43 6.52 Currentl 39 1220 Currentl Dividend Yield 2.1% 4.0% 2.9% 4.1% 2.3% 3.0% 3.1% P/E (LTM)2 NTM P/E 17.38 13.20 12.32 15.38 14.42 12.63 18.86 13.75 13.25 14.50 15.00 EFTA01478053 13.00 17.00 Forecast3 16.75 NTM EPS Forecast3 123