ch' levels we have seen in the recent past. N EFTA_R1_01609452 EFTA02489141 2) Financial fair value (based on a regression of spot on S&P, VIX, Crude, CRB, US 10y, DXY, carry): According to our short term 'financial fair value' metric, EM FX is cheap almost across the board, with ZAR being the t

ut we are st=ll far below the 'stretch' levels we have seen in the rece=t past. 2) Financial fair value (based on a regression of=spot on S&P, VIX, Crude, CRB, US 10y, DXY, carry): According to our short term 'financial fair =alue' metric, EM FX is cheap almost across the board, with ZAR bei=g the th

ch' levels we have seen in the recent past. N. EFTA_R1_01610718 EFTA02489957 2) Financial fair value (based on a regression of spot on S&P, VIX, Crude, CRB, US 10y, DXY, carry): According to our short term financial fair value' metric, EM FX is cheap almost across the board, with ZAR being the th