Epstein Secrets

/capex drag and strength in housing to support U.S. growth in 2016. Source: Deutsche Bank Wealth Management. Deutsche Bank Wealth Management 3 Belgium Manufacturing Survey Consumer Sentiment PMI Manufacturing/Services Cement Output Average Real Earnings Housing Prices Consumer Confidence Ret

2.5% 0.8% 6.8% 2015 1.4% 0.1% 0.2% 0.7% 1.5% 2015 -2.8% EFTA01477420 3.0% -3.7% 2.0% 2.0% 2015 -2.5% -2.2% -4.5% -6.5% -2.4% Currentl 0.25% 0.05% 0.50% 0.10% 2016 Currencies 3.4% 2.4% 1.6% 2.2% 1.2% 6.0% 2016 1.6% 1.2% 1.8% 0.8% 1.2% USA (S&P 500) 2016 -3.0% 3.

arket equity performance in Europe. As of May 2005, the MSCI Europe Index consisted of the following 16 developed market country indices: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom.

3% -6.0% -2.4% Key Interest Rates Ct USA (Fed funds) Euroland (Refi rate) UK (Repo rate) Japan (Mmkt rate) t t l 0.25% 0.00% 0.50% 0.00% Currentl -2.9% -1.9% -2.5% EFTA01477980 -5.2% -2.5% 12 Mo Forecast (Mar 2017) 0.75-1.00% 0.00% 0.50% 0.00% Footnotes: Macro estimates are accord

arket equity performance in Europe. As of May 2005, the MSCI Europe Index consisted of the following 16 developed market country indices: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom.

3% -6.0% -2.4% Key Interest Rates Ct USA (Fed funds) Euroland (Refi rate) UK (Repo rate) Japan (Mmkt rate) t t l 0.25% 0.00% 0.50% 0.00% Currentl -2.9% -1.9% -2.5% EFTA01478050 -5.2% -2.5% 12 Mo Forecast (Mar 2017) 0.75-1.00% 0.00% 0.50% 0.00% Footnotes: Macro estimates are accord