amounts of information on buy-side's holdings and transactions. - Cagera will eclipse the leading sell-side data aggregators (Bloomberg, Reuters, Markit) by volumes and type of data offered • Cagera will commercialise all Byhiras' data - Because it is based on exact positions and trade flows, Cage

Markit (market cap USD 3.3bn in 2009) was built aggregating credit derivatives data from banks — it was the first time this data was aggregated and Markit is now the market standard for this type of data - Bloomberg (USD 20bn) and Reuters Thomson (USD28bn) have extensive distribution networks and wide

amounts of information on buy-side's holdings and transactions. - Cagera will eclipse the leading sell-side data aggregators (Bloomberg, Reuters, Markit) by volumes and type of data offered • Cagera will commercialise all Byhiras' data - Because it is based on exact positions and trade flows, Cage

Markit (market cap USD 3.3bn in 2009) was built aggregating credit derivatives data from banks — it was the first time this data was aggregated and Markit is now the market standard for this type of data - Bloomberg (USD 20bn) and Reuters Thomson (USD28bn) have extensive distribution networks and wide

6c05eff">economy</a> in May are out this morning: Markit releases its services index at 9:45 a.m. ET, and

cores are on a scale of 1 (Most Liquid) to 5 (Least Liquid). (1) Represents RIN Liquidity Score of Target Portfolio. Liquidity Scores as provided by Markit as of January 17, 2018. Loans in the Target Portfolio that are not listed by Markit are assumed to have a Liquidity Score of 5. (2) Source: Morgan

reflects less than half the Chinese economy. As in the US. China is experiencing weak manufacturing but strong services sector activity - both the Markit and NBS composite PMIs have been stable in recent months and are consistent with the kind of gradual decline in GDP growth over the last few years

rce: DGBAS <image5.gif> Source: DGBAS <image9.gif> Source: DGBAS, I.P. Morgan Source: DGBAS, MoEA, J.P.Morgan <image2.gif> Source: MoF, DGBAS, Markit, J.P.Morgan <image4.gif> Source: MoF, J.P.Morgan <image6.gif> Source: DGBAS, J.P.Morgan 5 EFTA_R1_01613147 EFTA02491241 Click h=re <https://

ng PMI mmm Private demand mam Public demand Aug-09 Aug-10 Aug-11 Aug-12 Aug-13 Aug-14 Aug-15 Aug-16 mame Net exports === Real GDP growth %YoY Source: Markit Source: BofA Merrill Lynch Global Research forecasts, CAO It is a decent global growth picture and it is not impossible to imagine it being still be

0% 60% = o 100 ---- ~~~ ~~ 5 oo nn nn nn an aaa a a a Cumulative Government Deficits as % of GDP for 2007-2011 (10-11 Projections) K p Sources: OECD; Markit; National Data a USA Inc. | Consequences of Inaction 430 HOUSE_OVERSIGHT_021056 When Corporations Like General Motors Run Out of Cash, Eventually

45.0 ———US Consumer Confidence... 20 400 —— EA Services PM] =====EA Manufacturing PMI Aug-09 Aug-10 Aug-11 Aug-12 Aug-13 Aug-14 Aug-15 Aug-16 Source: Markit Source: Bloomberg The Euro Area too is showing signs of improvement with the latest manufacturing PMIs back to their best since early 2014 with othe