n equities for the next couple of months. U.S. investment grade, 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 fut

investors request. Sources: Bloomberg Finance LP: Deutsche Bank. Global Investment Solutions (GIS): Deutsche Bank. Global Market Research: FactSet: Thomson Reuters Datastream Publisher: Deutsche Bank AG. Global Investment Solutions. Taunusanlage 12. D-60325 Frankfurt am Main. Germany Author: Deutsche Bank AG, Frankfurt