Epstein Secrets

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k off scenarios. As our Sentiment Survey shows, geopolitical risks are still one of the main risks for investors (Chart 24). What we like in EM In LatAm, we still like receiving rates in the belly of the Brazilian curve (Jan 21) and we closed Jan 19 receivers. We think there is room for some short te

the NYSE, the NASD, NFA and SIPC. In Germany this report is approved and/or communicated by Deutsche Bank AG Frankfurt authorized by the BaFin. In the United Kingdom this report is approved and/or communicated by Deutsche Bank AG London, a member EFTA01464476 of the London Stock Exchange and regulated by the F

however, heavy positioning and potential transitory increase in risk aversion could induce a temporary break in the appreciation trend. Figure 1: LatAm and Asia FX on overvaluation territory environment of reduced volatility. Nevertheless, as the deterioration of fundamentals slowly spreads from t

ater. This time, we expect a sharp selloff with an eventual recovery. Our bearish view on LatAm credits in particular is driven by 1) positioning in LatAm is heavier than in EMEA or Asia — watch outflows from IG crossover investors who will rethink their EM IG investments; 2) their exposure to commoditi

the above mentioned global factors, for the last two years and the years 2013-2014 for the sake of comparison (Chart 64). We find that currencies in LatAm and EEMEA are more exposed to global factors than in Asia. Interestingly, LatAm and EMEA currencies are more sensitive to shocks in commodity prices

o not apply in ime, hold a trading position (long or short) in the securities and financial instruments discussed in this report. ocated outside of the United Kingdom. BofA Merrill Lynch Global Research policies relating to conflicts of interest are described at http://go.bofa.com/coi. LPF&S or one of its affiliate