Source: Investment Strategy Group, Bloomberg. HOUSE_OVERSIGHT_026901 --- PAGE BREAK --- Note: High China sales basket is aggregated and defined by Goldman Sachs Global Investment Research. Source: Investment Strategy Group, Bloomberg. Italy: Concerns about Italy have risen to peak levels since the election of a populist government in

ndividual. I Benefit peer-to-peer businesses reliant on counterparty trust. ,/ Streamline compliance and anti-money laundering surveillance. • Goldman Sachs Global Investment Research expects limited blockchain adoption over the next 2-5 years, and broader acceptance after 5-10 years. — Capital market adoption may take over 10 ye

euro high yield and emerging-market (EM) hard-currency debt may appeal. Sources: Thomson Reuters Datastream, Global Financial Data Robert Shiller, Goldman Sachs Global Investment Research. Data as of December 2015. Past performance is not indicative of future returns. Readers should refer to the explanatory notes at the end of this do