Epstein Secrets

ons likely to create entry points. • Central Bank comments indicate pushing out of rate hike allowing inflation to run. • Earlier than expected Central Bank tightening keeping inflation low • Elections • Double dip in the global economy Brazil 2013 Inflation Breakeven: , j as.5.2818. 5.4% • Curren

• 111 swaps increase expected over the next year is 2x expected policy rate increase. • Tightening by China could reduce need to raise rates in Chile. • Strong copper prices supported by China or solid global recovery. • Strong local growth driving higher inflation." Receive fixed ly CLP r

ions; iii) the capital cost of an un- hedged FX position is high. • Foreign investors no longer need to open a custodial account to invest in local Central Bank and Government bonds as these are now Euroclearable. Onshore CLP products FX spot Regulatory: None besides notification for transactions over US

endency of Banks and Financial Institutions. Any uncovered leveraged position entails some capital cost to the bank. • The regulatory framework in Chile keeps the local financial system relatively resilient to international jitters and also protects the corporate sector from FX fluctuations. In parti

ons likely to create entry points. • Central Bank comments indicate pushing out of rate hike allowing inflation to run. • Earlier than expected Central Bank tightening keeping inflation low • Elections • Double dip in the global economy Brazil 2013 Inflation Breakeven: • Jan•5-2010: 5.4% • Current

. • 1Y swaps increase expected over the next year is 2x expected policy rate increase. • Tightening by China could reduce need to raise rates in Chile. • Strong copper prices supported by China or solid global recovery. • Strong local growth driving higher inflation." Receive fixed 1Y CLP r