EFTA01089574Set 9
2013-02-2145p23,567w
disclosures at the end of the document.
EFTA01089591
Swiss equities
Recommendations
Preference: neutral 1
SMI (20 Feb): 7,626 (last publication: 7,392)
Tactical (six months)
UBS View SMI ... trade at 15.8 times trailing earnings. Swiss success factors: innovation and
globalization.
Positive scenario SMI (six-month target): 8,100
• Eurozone economic growth reaccelerates considerably, providing further relief to Swiss ... over the next six months. Swiss market valuation relative to world
bi Negative scenario SMI (six-month target): 5,900 equities based on P/E ratio
• The global economy slides into
https://www.justice.gov/epstein/files/DataSet%209/EFTA01089574.pdf
EFTA01089722Set 9
2012-06-2944p20,625w
disclosures at the end of the document.
EFTA01089738
Swiss equities Preference: underweight
Recommendations
SMI (27 June): 5,997 (last month: 5,818)
UBS View SMI (6-month target ... global average, indicating less
• We like stocks paying high and
attractive value. The SMI is trading at about 12.8x realized earnings. We are thus more cautious on the sustainable ... equities.
to the two key Swiss success factors:
'I Positive scenario innovation and globalization.
SMI (6-month target): 6,900
• Eurozone economic growth reaccelerates meaningfully, providing relief to Swiss financials
https://www.justice.gov/epstein/files/DataSet%209/EFTA01089722.pdf
EFTA01089619Set 9
2013-04-2546p24,794w
disclaimer and disclosures at the end of the document
EFTA01089636
Swiss equities Preference: neutral
SMI (24 April): 7,860 (last publication: 7,848) Recommendations
UBS view SMI (six-month target ... especially on a historical basis.
Swiss success factors: innovation and
globalization.
71 Positive scenario SMI (six-month target): 8,425
• Eurozone economic growth reaccelerates considerably, providing further relief to Swiss ... earnings to grow by 6% over the next six months.
N Negative scenario SMI (six-month target): 6,325
• The global economy slides into a recession. Despite offering less cyclically
https://www.justice.gov/epstein/files/DataSet%209/EFTA01089619.pdf
EFTA00514204Set 9
2016-06-0515p1,677w
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https://www.justice.gov/epstein/files/DataSet%209/EFTA00514204.pdf
EFTA01089678Set 9
2012-10-2544p21,521w
disclaimer and disclosures at the end of the document
EFTA01089694
Swiss equities Preference: neutral
SMI (24 Oct): 6,627 (last publication: 6,540) Recommendations
UBS View SMI (6-month target ... reasonable valuation. markets exposure and/or cheap
valuation, including insurers.
7i Positive scenario SMI (6-month target): 7,500
Strategic (1 to 2 years)
• Eurozone economic growth is reaccelerating considerably, providing ... over key Swiss success factors: innovation and
the next six months. globalization.
Negative scenario SMI (6-month target): 5,600
Swiss market relative to world
• The global economy slides into
https://www.justice.gov/epstein/files/DataSet%209/EFTA01089678.pdf
EFTA00288255Set 9
2014-04-1116p5,309w
SXSE Index 6,730 0.38%
MY_TSY CREDIT (73,802) 1.30% SMI Index 6,800 0.39%
SG_TSY CREDIT (76,599) 1.35% ME Index 6,875 0.39%
DE_TSY CREDIT ... IBEX Index 9,013 39,644 11,555.30 14,182.45 23.69 0.96% (580.67)
SMI Index 6,800 44,078 8,219.62 9,487.62 23.14 0.67% I (649.69)
FTSEMIB Index
https://www.justice.gov/epstein/files/DataSet%209/EFTA00288255.pdf
EFTA00293202Set 9
2014-03-1716p5,564w
Equity 5,986 0.33%
IBOV Index (22,524) 0.39% SMI Index 6,057 0.33%
CO1 Comdty (24,622) 0.43% CA_TSY CREDIT 6,123 0.34%
MEXBOL Index ... IBEX Index 8,010 39,644 11,555.30 13,890.19 22.16 0.91%IL 878.78
SMI Index 6,057 44,078 8,219.62 9,349.12 20.85 0.66% 266.21
F
FTSEMIB Index
https://www.justice.gov/epstein/files/DataSet%209/EFTA00293202.pdf
EFTA00293005Set 9
2014-02-2516p4,981w
AMGN US Equity 7,322 0.40%
CA_TSY CREDIT (97,153) 1.70% SMI Index 7,368 0.40%
ROG VX Equity 7,382 0.40%
MMM US Equity ... IBEX Index 8,670 38,422 11,492.37 14,085.49 28.24 0.80%
SMI Index 7,368 43,402 8,201.97 9,594.28 32.53 0.52%
FTSEMIB Index
https://www.justice.gov/epstein/files/DataSet%209/EFTA00293005.pdf
EFTA00293149Set 9
2014-03-1337p5,607w
Equity 6,680 0.36%
INDEXCF Index (26,563) 0.46% SMI Index 6,894 0.37%
ZA_TSY CREDIT (33,149) 0.57% CA_TSY CREDIT 6,917 0.37%
SHCOMP Index ... IBEX Index 7,660 39,644 11,555.30 13,788.13 21.40 0.90% (718.80)
SMI Index 6,184 44,078 8,219.62 9,372.82 21.56 0.65% (699.81)
FTSEMIB Index
https://www.justice.gov/epstein/files/DataSet%209/EFTA00293149.pdf
EFTA00288527Set 9
2014-06-1616p5,505w
NOVN VX Equity 7,567 0.40%
NL_TSY CREDIT 82,865 1.28% SMI Index 7,702 0.40%
DE_TSY CREDIT 84,524 1.31% SXSE Index ... IBEX Index 11,661 42,944 11,748.18 14,938.13 42.47 0.64% (362.46)
SMI Index 7,702 52,752 8,424.18 9,654.10 52.77 0.28% 264.25
FTSEMIB Index
https://www.justice.gov/epstein/files/DataSet%209/EFTA00288527.pdf
EFTA00293426Set 9
2014-02-2716p5,561w
CREDIT 6,937 0.38%
AU TSY CREDIT (79,133) 1.37% SMI Index 7,077 0.39%
MY_TSY CREDIT (92,252) 1.60% MDT US Equity 7,152 0.39%
SG_TSY CREDIT ... IBEX Index 8,168 39,237 11,534.65 13,936.00 26.41 0.79% (144.69)
SMI Index 7,077 44,078 8,219.62 9,539.30 31.60 0.51% (143.47)
FTSEMIB Index
https://www.justice.gov/epstein/files/DataSet%209/EFTA00293426.pdf
EFTA00292908Set 9
2014-02-1216p4,944w
Equity 5,925 0.34%
JP_TSY CREDIT (59,628) 1.09% SMI Index 5,934 0.34%
SXDP Index 61,063 1.12% MAERSKB DC Equity 5,935 0.34%
SPX Index ... IBEX Index 7,624 38,408 11426.70 13,694.77 21.07 0.94%
SMI Index 5,934 40,693 8133.40 9,319.44 24.76 0.59%
FTSEMIB Index
https://www.justice.gov/epstein/files/DataSet%209/EFTA00292908.pdf
EFTA00288271Set 9
2014-04-1416p5,374w
Equity 6,392 0.37%
CH_TSY CREDIT 66,678 1.27% SMI Index 6,648 0.38%
DK_TSY CREDIT 67,396 1.28% ACA FP Equity 6,665 0.38%
CA_TSY CREDIT ... IBEX Index 8,690 39,643 11,555.29 14,088.24 24.71 0.89% (321.04)
SMI Index 6,648 44,078 8,219.63 9,459.38 25.49 0.59% (150.99)
FTSEMIB Index
https://www.justice.gov/epstein/files/DataSet%209/EFTA00288271.pdf
EFTA00293394Set 9
2014-02-1916p5,075w
Equity 6,610 0.37%
BETSY CREDIT 67,610 1.21% SMI Index 6,768 0.37%
STBCNZL Index 73,231 1.31% ROG VX Equity 6,837 0.38%
lE_TSY CREDIT ... IBEX Index 7,802 38,422 11,492.37 13,825.99 25.60 0.79%
SMI Index 6,768 43,402 8,201.97 9,481.04 29.18 0.53%
FTSEMIB Index
https://www.justice.gov/epstein/files/DataSet%209/EFTA00293394.pdf
EFTA00288591Set 9
2014-07-1116p5,522w
CREDIT 6,589 0.33%
SG_TSY CREDIT 100,443 1.41% SMI Index 6,655 0.33%
MY_TSY CREDIT 109,755 1.54% XLI US Equity 6,708 0.33%
JP_TSY CREDIT ... IBEX Index 9,460 43,174 11,759.39 14,335.93 36.04 0.61% 49.22
SMI Index 6,655 53,702 8,442.28 9,488.54 34.25 0.36% (13.64)
FTSEMIB Index
https://www.justice.gov/epstein/files/DataSet%209/EFTA00288591.pdf
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https://www.justice.gov/epstein/files/DataSet%2010/EFTA01583553.pdf
EFTA00288399Set 9
2014-05-2916p5,488w
SXSE Index 7,644 0.41%
FI_TSY CREDIT 85,645 1.40% SMI Index 7,926 0.42%
GB_TSY CREDIT 89,647 1.46% MAERSKB DC Equity ... IBEX Index 10,485 41,399 11,656.78 14,608.99 38.51 0.66% (43.28)
SMI Index 7,926 51,115 #N/A N/A 47.98 0.32%
FTSEMIB Index
https://www.justice.gov/epstein/files/DataSet%209/EFTA00288399.pdf