Epstein Secrets

as a conventional wholesale bank by the Central Bank of Bahrain (for professional clients only); JPMorgan Chase Bank, M. Dubai branch, regulated by the Dubai Financial Services Authority. In Hong Kong, this material is distributed by JPMorgan Chase Bank, M. (JPMCB) Hong Kong branch except to recipients having an account at JPMCB Sing

ly to the regional banks, even through near term volatility. GIO Investments Strategy EFTA00862331 Anton Pil Jeanne Sun Peter Epstein Source: Bloomberg. As of March 2015. IMPORTANT INFORMATION The opinions and views expressed herein are those of GICI and may differ from those oft Morgan, its affili

al Liquid Markets Weekly I 24 July 2017 Bankof America Merrill Lynch EFTA00788500 (DIFC): Merrill Lynch International (DIFC Branch), regulated by the Dubai Financial Services Authority (CfSA)s Merrill Lynch (Spain). Merrill Lynch Capital Markets Espana, SAS.V., regulated by Comisi6n Nacional del Mercado De Valores; Merrill Lynch (B

al 10 year yield based on headline CPI 6 5 4 3 1 0 -1 -2 -3 -4 97 99 01 03 05 07 09 11 13 15 17 —US —Japan —Euro Area Source Bloomberg Chart 12: The term premium means that currencies maintain a positive spread between their 2 year and their 10 year interest 2Y10Y goverment bond y

saliyah Tower. King Fahad Road, S Box 51907, Riyadh 11553. Kingdom of Saudi Arabia. Dubai: JPMorgan Chase Bank, M . Dubai Branch is regulated by the Dubai Financial Services Authority (DFSA) and its registered address is Dubai International Financial Centre - Building 3, Level 7, PO Box 506551. Dubai, UAE. Country and Region Spec

s am unlikely to have clarity into the impact of recent fonvard curve price changes in the short-term. Using the current forward curve (accessed in Bloomberg by NGA <CMDTY> <GO> CCRV <GO>) and assuming that natural gas price changes result in heat rate changes, we estimate that the company generates $77

372 Riyadh, Saudi Arabia. United Arab Emirates: Deutsche Bank AG in the Dubai International Financial Centre (registered no. 00045) is regulated by the Dubai Financial Services Authority. Deutsche Bank AG - DIFC Branch may undertake only the financial services activities that fall within the scope of its existing DFSA license. Its pr

uest •Prices are current as of the end of the previous trading session unless otherwise indicated and are sourced from local exchanges via Reuters, Bloomberg and other vendors . Other information is sourced from Deutsche Bank, subject companies, and other sources. For disclosures pertaining to recommendat

72 Riyadh, Saudi Arabia. United Arab Emirates: Deutsche Bank AG in the Dubai International Financial Centre (registered no. 00045) is regulated by the Dubai Financial Services Authority. Deutsche Bank AG - DIFC Branch may only undertake the financial services activities that fall within the scope of its existing DFSA license. EFTA

argin 18E Dec 14 Mar 15 NASDAQ 100 (Rebased) Fiscal year end 31-Mar Financial Summary DB EPS (CNY) Reported EPS (CNY) DPS (CNY) BVPS (CNY) Bloomberg: BABA US USD 80.00 USD 104.00 USD 79.54 - 119.15 EURm 167,983 USDm 190,720 Weighted average shares (m) Average market cap (CNYm) Enterprise v

301809, Faisaliah Tower United Arab Emirates: Deutsche Bank AG in the Dubai International Financial Centre (registered no. 00045) is regulated by the Dubai Financial Services Authority. Deutsche Bank AG - DIFC Branch may only undertake the financial services activities that fall within the scope of its existing DFSA license. EFTA

h Rating Hold North America United States Industrials Oil & Gas Exploration & Production Company Pioneer Natural Resources Reuters PXD.N Bloomberg PXD UN Exchange Ticker NYS PXD Laying the Foundation Looking to set the stage into a 2H acceleration With arguably amongst the largest core po

301809, Faisaliah Tower United Arab Emirates: Deutsche Bank AG in the Dubai International Financial Centre (registered no. 00045) is regulated by the Dubai Financial Services Authority. Deutsche Bank AG - DIFC Branch may only undertake the financial services activities that fall within the scope of its existing DFSA license. EFTA

Deutsche Bank Markets Research Rating Buy North America United States Reuters Health Care Biotechnology RTRX.OQ Bloomberg RTRX US Exchange Ticker NMS RTRX Company Retrophin Agrees to sell PRV for $245M, new TP of $52 Retrophin agrees to sell its PRV to SNY for $

301809, Faisaliah Tower United Arab Emirates: Deutsche Bank AG in the Dubai International Financial Centre (registered no. 00045) is regulated by the Dubai Financial Services Authority. Deutsche Bank AG - DIFC Branch may only undertake the financial services activities that fall within the scope of its existing DFSA license. Prin

est *Prices are current as of the end of the previous trading session unless otherwise indicated and are sourced from local exchanges via Reuters, Bloomberg and other vendors . Other information is sourced from Deutsche Bank, subject companies, and other sources. For disclosures pertaining to recommend

301809, Faisaliah Tower United Arab Emirates: Deutsche Bank AG in the Dubai International Financial Centre (registered no. 00045) is regulated by the Dubai Financial Services Authority. Deutsche Bank AG - DIFC Branch may only undertake the financial services activities that fall within the scope of its existing DFSA license. Prin

est *Prices are current as of the end of the previous trading session unless otherwise indicated and are sourced from local exchanges via Reuters, Bloomberg and other vendors . Other information is sourced from Deutsche Bank, subject companies, and other sources. For disclosures pertaining to recommend

y-1 6 Jun-16 Jul-16 Aug-16 Sep-1 6 Oct-16 Source: Bloomberg Bankof America 2 European Equity Strategy |O01 Dec

rities, Moscow, regulated by the Central Bank of the Russian Federation; Merrill Lynch DIFC}: Merrill Lynch International (DIFC Branch}, regulated by the Dubai Financial Services Authority (DFSA); Merrill Lynch (Spain): Merrill Lynch Capital Markets Espana, S.AS.V., regulated by Comisién Nacional del Mercado De Valores; Merrill Lynch (B