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EFTA00578074Set 9

40p17,496w

been devised with help of a panel of local experts. Unless otherwise specified, the baseline forecast is used throughout. Makes a series of policy recommendations which are designed to help ... likely. • Optimistic: with most favourable circumstances • Pessimistic: with most unfavourable circumstances Unless otherwise specified baseline forecasts are used throughout. Quantitative assumptions — largely reflecting macroeconomics — are provided by WEFA's internally ... forecast period Tourism personal consumption to less than 1% compared to 6.5% in the baseline forecast. growth annually, as well as domestic invest- ♦ As foreign visitor and domestic tourism spending

https://www.justice.gov/epstein/files/DataSet%209/EFTA00578074.pdf

EFTA01475956Set 10

2015-12-08298p51,111w

likely to dissipate beyond mid- year. In what follows, we begin by presenting our baseline forecast for the global economy and financial markets, with an emphasis on 2016, but also ... first ECB tapering discussion If growth and inflation perform in line with our baseline forecasts, the measures announced by the ECB on 3 December ought to be the last major

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01475956.pdf

EFTA01479719Set 10

2014-02-0739p4,108w

Moody's Default Rate (Quarterly) US Baseline Forecast Deutsche Bank Corporate Banking & Securities (1) Source: Moody's Monthly Default Report — Jan 2014 11 EFTA01479730 Corporate Balance Sheets Have Been Bolstered ... Moody's Default Rate (Quarterly) 14.00% 12.00% 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% US Baseline Forecast Deutsche Bank Corporate Banking & Securities (1) Source: Moody's Monthly Default Report

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01479719.pdf

EFTA01169776Set 9

8p5,895w

months to suggest that the dollar downtrend will be forceful, which is why the baseline forecasts only show a I% decline in Q4. But for the next few weeks, earnings

https://www.justice.gov/epstein/files/DataSet%209/EFTA01169776.pdf

EFTA01458962Set 10

2015-12-081p743w

first ECB tapering discussion If growth and inflation perform in line with our baseline forecasts, the measures announced by the ECB on 3 December ought to be the last major

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01458962.pdf

EFTA01458951Set 10

2015-12-081p440w

likely to dissipate beyond mid-year. In what follows, we begin by presenting our baseline forecast for the global economy and financial markets, with an emphasis on 2016, but also

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01458951.pdf

EFTA01462179Set 10

1p122w

technicals Moody's Default Rate (Quarterly)(t) 16.00% —Moody's Default Rate (Quarterly) US Baseline Forecast

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01462179.pdf