Epstein Secrets

divided into structural surplus and deficit economies. While Anglo-Saxon countries have tended to run current account deficits. Japan. Switzerland, Norway. and Sweden have generated consistent surpluses for decades. As a result of these highly persistent global imbalances, the two camps have accumulat

llard Co-Global Heads Equity Research Michael Spencer Regional Head Mia Pacific Research International Locations Ralf Hoffmann Regional Head Deutsche Bank Research. Germany Andreas Neubauer Regional Head Equity Research. Germany Steve Pollard Regional Head Americas Research Deutsche Bank AG Deutsche Bank

nk of three reasons to go short CHF/NOK. 1. The relative cycle is supportive of rate differentials. Inflation is at a much higher starting point in Norway than in Switzerland, leaving the Norges Bank much less room to manoeuvre than the SNB in the event of upside surprises to import prices or stronge

lard Co-Global Heads Equity Research Michael Spencer Regional Head Asia Pacific Research International Locations Ralf Hoffmann Regional Head Deutsche Bank Research, Germany Andreas Neubauer Regional Head Equity Research, Germany Steve Pollard Regional Head Americas Research Deutsche Bank AG Deutsche Bank

A NA Royal Dutch Shell PMO LN Premier Oil Plc OMV AV OMV Ag TLW LN Tullow Oil Plc Long Name EFTA01470803 Lundin Petroleum AB Country Sweden Norway Norway France Netherlands France Britain Netherlands Britain Austria Britain Energy Energy Energy Energy Energy Energy Energy Energy

see basket underperform Implementation: Buy European Oil Sensitivity Basket via Delta One note or Total Return Swap Source: Bloomberg Finance LP, Deutsche Bank Research European Oil Sensitivity Basket Outperforms market when Brent rises (1) For additional detail on basket holdings please see Appendix Deutsche Ass