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EFTA01477363
87% of the time. 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% Less than 0 0-1% 1-3% 3%+ FTSE NAREIT (YoY %) Given Level of CPI (YoY %) (LHS) % of the Time Positive (RHS) Footnotes: Time period is December 1972-November 2015. CPI is headline CPI. Source: FactSet, Bloomberg Finance LP, Deutsche Bank Wealth Manag
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