Epstein Secrets

yivnv Modena corn apply. These include the applicable rale of value added tax and we deemed plus shipping costs. For deliveries to Switzerland and Norway the prices include the Swiss or the Norwegian value added tax and the costs for the customs clearance, For delrvenes to the USA the prices include

case of default of payment Artedona reserves the right to charge interest on default in the amount of 5% above the respective base lending rale of the European Central Bank. 7. Rights to offset or of retention: The Customer shall only be entitled to nghtS to offset or of retention insofar as his claim has been declared

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

F appreciation and the SNB has clearly shown in May that it is willing and can protect the floor; we expect the SNB to continue in this. ¢ Sweden and Norway stand out for their lower debt-to-GDP ratios and current account surpluses. The NOK appreciated recently, due to safe haven inflows. We stay neutral

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

he euro crisis and reserve unwinding of the SNB at some point. Given this balance, we have decided to close the underweight in the CHF. ¢ Sweden and Norway stand out for their lower debt-to-GDP ratios and current account surpluses. Both the SEK and NOK have appreciated on diversification and safe-haven i