1.10 1.08 1 06 1°4 1, 4 , 4, 4 , 4 , 4 3 4 5 Ai" 4, 4, Ni l 41 1 1 el di +dr 41 1 eV Figure 4: EUR/USD Trading Range Source: FactSet, Deutsche Bank Wealth Management. Data as of February 3. 2016. No assurance can be given that any forecast or target can be achieved. Forecasts are based on assumptions, estimates

Acceleration is Underway Manufacturing Slowdown 20 30 40 50 60 70 80 Vehicle Sales Strong Footnotes: Data as of December 30, 2015. Source: FactSet, Deutsche Bank Wealth Management. Manufacturing remains the weak segment of the U.S. economy The broad Manufacturing Index and production are both in contraction territory (a leve

er 2015 Forecast for 2016 GDP Japan China World March 2016 Forecast For 2016 GDP Footnotes: Data as of March 25, 2016. Data as of March Source: FactSet, Deutsche Bank Wealth Management. Global Sovereign Yields Highly Correlated Production Cuts Good; More Needed The ECB's aggressive central bank actions have pushed sovereign rates

er 2015 Forecast for 2016 GDP Japan China World March 2016 Forecast For 2016 GDP Footnotes: Data as of March 25, 2016. Data as of March Source: FactSet, Deutsche Bank Wealth Management. Global Sovereign Yields Highly Correlated Production Cuts Good; More Needed The ECB's aggressive central bank actions have pushed sovereign rates