Epstein Secrets

dy)," blossomed into an infectious chorus. Le6n's band, an eight- piece group of men and women playing e

unclear whether the euro zone has such a lender. The agreed funds that might support countries in difficulty are limited in a number of ways. The European Central Bank (ECB), though able to act on an unlimited scale in theory, might be unable to do so in practice, if the runs it had to deal with were large enough.

Source: DB FX Research EUR/USD PPP EUR/USD 20% Band 0.6 0.8 1.0 1.2 1.4 1.6 73 77 81 85 89 93

tfolio inflows have turned marginally positive... Figure 8: _as equity market inflows outpace the money market outflows Source: Deutsche Bank and European Central Bank Source: Deutsche Bank and European Central Bank Figure 9: Equity inflows have tracked the STOXX Figure 10: Foreign interest on the bond side boome

120 130 60 70 80 90 USDTWI PPP USDTWI 20% Band 60 70 80 90 100 110 120 130 Figure 3: EU

Treasury Figure 41: Net portfolio flows have turned inwards... Figure 42: ...as equity inflows surpass the bond outflows Source: Deutsche Bank and European Central Bank Source: Deutsche Bank and European Central Bank Deutsche Bank Securities Inc. Page 31 EFTA01464362 30 July 2013 Exchange Rate Perspectives: FX