Epstein Secrets

e: ECB, Bloomberg LP, Barclays, Deutsche Bank Wealth Management. 17 Switzerland Germany France Netherlands Slovakia Finland Austria Belgium Denmark Sweden Luxembourg Lithuania Ireland Italy Spain Slovenia Portugal Malta Latvia Cyprus Total EFTA01477396 Global Fixed Income Combing

mber 2015. U.S. GDP is 4Q over 4Q. 1 Current as of January 22, 2016. 2 LTM stands for last twelve months. 3 P/E and EPS forecasts are according to Deutsche Asset & Wealth Management 4 Direction in sovereign bonds is yield move. 5 High yield spread is high yield versus five year Treasury. 6 Next 3% move in credit is return move. Source: F

uity 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. The MSCI

th 3 P/E d EPS f t ditDthAt&Wlth M t 4 Di ti i i b d i i ld 5 Hi h i ld tands or last twelve months. 3 P/E and EPS forecasts are according to Deutsche Asset & Wealth Management 4 Direction in sovereign bonds is yield move. 5 High yield spread is high yield versus five year Treasury. 6 Next 3% move in credit is return move. Source: F

uity 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. The MSCI

th 3 P/E d EPS f t ditDthAt&Wlth M t 4 Di ti i i b d i i ld 5 Hi h i ld tands or last twelve months. 3 P/E and EPS forecasts are according to Deutsche Asset & Wealth Management 4 Direction in sovereign bonds is yield move. 5 High yield spread is high yield versus five year Treasury. 6 Next 3% move in credit is return move. Source: F