3.2% 22% 64% 0.9% 34. 21% = 11.2 2.6% 53 25% 38 -0.5% 24 41% = 0.7% SXRP (Retail) 27% 0.1% 7% 78% 0.8% ] 5% 13.2 2.3% 3 6% 44 0.1% 3 96% -0.4% SXTP (Trvl&Lsre) 3.7% -13% 6% 85% 0.9% -18 6% 10.8 2.6% -14 6% 3.9 -0.2% -4 55% = 1.9% Source: BofA Merrill Lynch Global Research *Real vol = EWMA (Exponentially W