Epstein Secrets

t-duration and cash next year across portfolios. As a last mention, for anyone looking for a timely read, I just finished William Silber's book about Paul Volcker. It is great context for how we got to where we are today and a reminder that while the past doesn't ever exactly repeat itself, it does rhyme. It's

I just finished William Silber's book about Paul Volcker. It is great context for how we got to where we a

onomics team continues to believe inflation comes after growth and therefore isn't a threat to this cycle of easy monetary policy. We expect the Fed, European Central Bank and Bank of Japan will continue to promote "easy money." There is going to be an inflation shock that will come with accelerating growth-we just don'

quality. ¢ The economic recovery fails to gain momentum in the second half of the year. Credit demand fails to improve further as some of the recent European Central Bank (ECB) data indicates. The ECB cuts rates. ¢ Further quantitative easing by the Fed would be supportive for Bunds and speaks for lower yields. & Negat

le to enter and exit their strategies Regulation Volcker's rule, USCITS III/IV 36 UBS Recommendations St

tion of US Treasury and German Bund yields are important for EM fixed income spreads, especially for USD- and EUR-denominated bonds. Key date: Dec 6, European Central Bank meeting Capital flows The European debt crisis may lead to further periods of outflows and weaker prices, which could offer attractive entry levels

m to enter and exit their strategies. Regulation Volcker rule, USCITS III/IV 2 UBS Recommendations Strat