Epstein Files Search

EFTA01097470Set 9

44p8,751w

used to balance out movements in TRY, yet not any more since the Fed taper tantrum 170 USDbn Basket/TRY 3.4 160 3.2 —Resident FX deposits 150 3.0 Basket/TRY ... Capital outflows have been about 70-80% of the magnitude observed during the 2013 taper tantrum Days before and after reversal ... Current -10 Taper tantrum -20 -30 -40 Global financial -50 crisis -60 Cumulative portfolio flows to EM (USD bns) ** " Sam* of seven Err countries Source: OF and Deutsche Bank Deutsche

https://www.justice.gov/epstein/files/DataSet%209/EFTA01097470.pdf

EFTA01375003Set 10

1p164w

weakest EM: macro adjustment in major EM economies has been limited since the Fed taper tantrum India has adjusted Brazil has not... ...and nor has TOrkiye Growth Growth Growth Fiscal ... cover rates cover rates cover rates Current Current Current account account account Current Pre taper tantrum —Current —Pre taper tantrum Current —Pre taper tantrum The chart show vulnerability scores

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01375003.pdf

EFTA01475956Set 10

2015-12-08298p51,111w

policy have the potential to induce another bout of market turbulence akin to the taper tantrum of mid-2013, though likely with more limited implications for the global economy ... envision. Tenyear yields could spike above the nearly 3% peak level reached during the taper tantrum in 2013. This shock could spill over into a sharp drop in risk asset ... trillion balance sheet, a sudden spike in rates, similar to the 2013 "taper tantrum", could meaningfully dent housing activity (a current bright spot in the US economy) and engender

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

EFTA01384481Set 10

2017-09-181p477w

long period where inflows have been strong and consistent. Events like the "taper tantrum" in 2013 and the energy/oil US credit sell-off in late 2015/early 2016 tested market liquidity ... latter only in one sector - albeit an important one. Remember that the taper tantrum was purely a fear of an upcoming taper. The taper didn't actually happen at that

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01384481.pdf

EFTA01062012Set 9

2016-11-143p1,085w

since March are gone! For Rates & FX, it does feel like early days of Taper Tantrum trade of 3 years ago. Both dominated by US price action. In both, hedge ... wider rates, longer USD, weaker EM, stronger equities. Real Money is in defensive, remembering Taper Tantrum days, fearing institutional outflows & forced selling of carry hope positions. Those who want

https://www.justice.gov/epstein/files/DataSet%209/EFTA01062012.pdf

EFTA01062010Set 9

2016-11-142p981w

since March are gone! For Rates & FX, it does feel like early days of Taper Tantrum trade of 3 years ago. Both dominated by US price action. In both, hedge ... wider rates, longer USD, weaker EM, stronger equities. Real Money is in defensive, remembering Taper Tantrum days, fearing institutional outflows & forced selling of carry hope positions. Those who want

https://www.justice.gov/epstein/files/DataSet%209/EFTA01062010.pdf

EFTA01475276Set 10

14p1,355w

over the summer than bond outflows (this was a 'growth tantrum' more than a 'taper tantrum'). The relationship between average FX returns and equity inflows for the six markets that

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01475276.pdf

EFTA01381400Set 10

1p625w

over the summer than bond outflows (this was a 'growth tantrum' more than a 'taper tantrum'). The relationship between average FX returns and equity inflows for the six markets that

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01381400.pdf

EFTA01458679Set 10

1p629w

over the summer than bond outflows (this was a 'growth tantrum' more than a 'taper tantrum'). The relationship between average FX returns and equity inflows for the six markets that

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01458679.pdf

EFTA01465847Set 10

2013-12-1812p3,293w

begin to taper. Homebuilding too has softened in the wake of the taper tantrum. Bottom line: growth performance and prospects have strengthened just barely enough to warrant a December taper

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01465847.pdf

EFTA01450606Set 10

1p581w

begin to taper. Homebuilding too has softened in the wake of the taper tantrum. Bottom line: growth performance and prospects have strengthened just barely enough to warrant a December taper

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01450606.pdf

EFTA01458963Set 10

2015-12-081p923w

Fiscal risk get more worse The ECB will be nervous of creating its own 'taper tantrum'. We expect the in 2016; it is political risk we need

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01458963.pdf

EFTA01458957Set 10

2015-12-081p611w

year yields could spike above the nearly 3% peak level reached during the taper tantrum in 2013. This shock could spill over into a sharp drop in risk asset values

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01458957.pdf

EFTA01379449Set 10

2017-12-111p553w

Scum Opted,.Bent Alsookand RH, TN* (OM • equity) FICrem Cumulative Ppm Jun1304 Sep '17 taper tantrum 1200 Which EM currencies will lag? 1000 800 The main risks

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01379449.pdf

EFTA00286949Set 9

2016-11-032p1,499w

EFTA00286949 AMTG shares proceeded to promptly trade down more than 30% during the 2013 taper tantrum and traded down even more after the company mismanaged its interest rate hedging, failed

https://www.justice.gov/epstein/files/DataSet%209/EFTA00286949.pdf

EFTA01458951Set 10

2015-12-081p440w

policy have the potential to induce another bout of market turbulence akin to the taper tantrum of mid-2013, though likely with more limited implications for the global economy

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

EFTA01374996Set 10

1p89w

used to balance out movements in TRY, yet not any more since the Fed taper tantrum 170 USDbn Basket/TRY 3.4 160 -I 3.2 Resident FX deposits 150 3.0 -Basket/TRY

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01374996.pdf

EFTA01462231Set 10

2014-09-231p407w

investors are re-engaging. This is a very different environment to last year's "taper tantrum", however. US yields are range-bound, the focus has expanded to central banks beyond

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01462231.pdf

EFTA01379389Set 10

2017-12-221p539w

Intervention led to significant drawdown in reserves over 2013 during the 10000 I. 260 taper-tantrum. Market stress prompted authorities to 9000 4 0 tighten monetary and fiscal policy

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01379389.pdf

EFTA00610276Set 9

2014-01-0926p14,709w

rote is something we have argued for some time, and although disrupted by the 'taper tantrum' in O2/Q3 2013 in particular, the trend is intact. 'Cheap & cyclical EM FX With

https://www.justice.gov/epstein/files/DataSet%209/EFTA00610276.pdf