Cc: Jj Litchford
Subject: RE: CIO/ Research Email Intro
Here's my latest.
From: Melinda Roy
Sent: Tuesday, September 08, 2015 11:25 AM
To: Stewart Oldfield; Paul Morris
Cc: )j Litchford
Subject: RE: CIO/ Research Email Intro [I]
Classification: For Internal use only
I will add those reports and include the CIO summary.
Are the distribution lists the same?
From: Stewart Oldfield
Sent: Tuesday, September 08, 2015 11:23 AM
To: Jj Litchford; Paul Morris
Cc: Melinda Roy
Subject: RE: CIO/ Research Email Intro
Classification: Public
Let's get this out today or tomorrow. Could add the attached two reports as well perhaps.
Could also include the brief summary of the CIO view
His nine positions are:
- U.S. labor market continues to develop positively.
- Increasing labor costs contribute to a rise in U.S. core inflation.
- Increasing divergence in monetary policy.
- Chinese currency becomes more susceptible to fluctuation.
- Brazil to stay under pressure.
- Weak oil price to reignite deflation concerns.
- Europe's slow but steady recovery on track.
- Gold price to stay relatively stable.
- Asset allocation of our balanced model portfolio for clients based in the Americas:
Fixed income: 40.5%, Equities: 48.5%, Alternatives: 10%, Commodities: 1%
From: Jj Litchford
Sent: Thursday, September 03, 2015 11:31 AM
To: Stewart Oldfield; Paul Morris
Cc: Melinda Roy
Subject: CIO/ Research Email Intro
Classification: Public
Let me know what you think
CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0089820
CONFIDENTIAL SDNY_GM_00236004
EFTA01387357