EFTA01043533Set 9
2017-06-145p1,662w
reserves fall and as
fiscal consolidation success depends partly on oil prices. EXD is well priced, and sukuks have better
risk/reward than conventionals.
Be selective in equities. Given likely subdued ... course.
• The USD peg holds but consolidation success depends partly on oil prices. EXD is well priced,
favour Fx forward steepeners.
• Be selective in equities. MSCI EM inclusion, National Champions ... dynamics are more challenging. Geopolitics may delay but not
derail reforms.
FI/Fx Strategy: MW EXD, favour Fx forward steepeners
Domestic liquidity improvement has likely run its course. Still, absent geopolitics
https://www.justice.gov/epstein/files/DataSet%209/EFTA01043533.pdf
EFTA00634188Set 9
2017-06-2111p3,894w
reserves fall and as fiscal consolidation success depends partly on oil prices. EXD is well priced, and sukuks have better risk/reward than conventionals.
- Be selective in equities. Given likely subdued ... course.
• The USD peg holds but consolidation success depends partly on oil prices. EXD is well priced. favour Fx forward steepeners.
• Be selective in equities. MSCI EM inclusion. National Champions ... dynamics are more challenging. Geopolitics may delay but not derail reforms.
FI/Fx Strategy: MW EXD, favour Fx forward steepeners
Domestic liquidity improvement has likely run its course. Still, absent geopolitics
https://www.justice.gov/epstein/files/DataSet%209/EFTA00634188.pdf
EFTA02382341Set 11
2015-08-07391p17,020w
Uq.C11.40_, : 6U w4i> : • 0 - Ag,
0.?c4.1.H+ , C4en+.RtK9
%O.(exD Al>40dA4*_404k kkehD.Y Az1m.ecieeTIOVL+e,x(81•40 J(M)H+k04.1•1240.140.461:ag..
St>Em00,04441VAY4
https://www.justice.gov/epstein/files/DataSet%2011/EFTA02382341.pdf
/q/06
_77,dideezbLveta,D
Afge_e). _ *Xeszkeeke6 .
4/ : _if.heare.4,49vie. e.!exd&dge-de.2.-Affel,e4atie44:7`
47 ' ,2keze ktiez_‘Gsalf
43:10 jrzi/__,LeavAr4e14€41re
https://www.justice.gov/epstein/files/DataSet%209/EFTA01245715.pdf