Epstein Secrets

10 yr Return Est. 3.4% 1969 1974 1979 1984 1989 1994 1999 2004 2009 Source: St. Louis Fed, Ibbotson, Research Affiliates, NEPC, NYC MOPI 'Merrill Lynch US Treasury Master Annualized Total Return 4 EFTA_R1_02033249 EFTA02691358 Progressively More Equity Needed to Achieve 8% return NYC Mayor's Off

14:21 PM Environment* Eco Growth [Real GDP] Inflation [CPI] 3.3% 3.2% ki Positive Economic Indicator Negative Economic Indicator *Source: Bureau of Economic Analysis, Federal Reserve Bank of Minneapolis, Ibbotson SBBI, Deutsche Bonk 16 EFTA_R1_02033261 EFTA02691370 ... Driving Asset Returns NYC Mayor's Offi

0.5 0% 50 -1.0 0 15 e% 0 , # of meetings into tightening cycle -2.0 4% Q2-2013 Q1-2014. Q4-2014 = Q3-2015 — Q2-2016 Source: Federal Reserve Board, Bureau of Economic Analysis Nevertheless it is not our central scenario in part because there is a risk that much of a Trump surge could be bad for growth. As we noted above th

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