EFTA01459766.pdf

'Figure 7 1' List of DB us Equity Strategy research notes C co so co - n C- p Research Tide Date Research Title Date C C Midway through 40 earnings season 1-Feb-16 Reaching for small caps. selectively: Prefer small Retailers vs small Banks 27-Feb-I5 Z.; 0 A 0% real yield world, so why should stocks get old world 6% real returns> 24-Jan-16 Tech Titans can overcome the Huk 18.Feb-15 Gotta swng it when vou see a 18-Jan-I6 Why should investors look through it? 6-Feb-I5 0,, 0 r A long year ahead for the S&P 600 10-Jan-16 Repatriation holday: Good step to a territorial system, but not a substitute 3-Feb-16 C. 2016 S&P EPS growth to surge to 5%! 20-Nov-I5 Finding Domestic 66P 500 stocks Both Domestic Cyclicals & Defensives 30-Jan-15 S&P should lash the year in black but more red ahead for Energy 16-Nov-15 2015 S&P gains now PE expansion dependent 25-Jan-15 Amazing margins. but mind the GAAP 13-Nor-I5 S&P 500 Industrial Capital Goods High risk, low reward - we prefer Tech 18-Jan-I5 A structural sbwing of Industrials. Investing around this late cycle risk 1-Nov-15 Seven Signs. 2 Red, 4 Yellow, 1 Green 73-Jan-15 Don't pull the plug on Health Care 23-Oct-15 The PE tug-of-war continues in 2015 Slow EPS growth vs low bond yields 11-Jan-I5 Corporate debt and Bank EPS outlook 16-Oct-15 2015 S&P Outlook Better time for consumers, but tougher for producers 15-Dec-14 Portfolio Health Advisory. Premature rotation into Energy & Industrials 12-Oct-I5 What's a profit recession? 5-Dec-I4 Window for 2015 liftoff slams shut Cut S&P 2015 end target to 2050 2-0C1-15 Happy Thanksgo.nng: US GDP vs S&P 26-Nov-14 Debt ceiling showdowns A new twist to the election cycle> 28-Sep-I 5 Macro trends favor Retailers over Industrial Capital Goods, so do we 21-Nov-I4 Fed delays Less S&P upside for 2015 113-Sep-15 Dollar and oil snip S&P 40 EPS 14-Nov-14 Stocks will leave hike decision to the Fed, but doter likely gains either way 1 I-SeP-I5 Slow growth, but strong payouts. Definitive dwdend vs blurry buybacks 7-Nov-14 First back to school assignment Stress test 2016 S&P EPS estimates 4-Sep-15 Trick or treat> Skip the dark houses 31-0c1.14 Post correction: Better without the froth, but still real risks to monitor 25-Aug-IS Post-bounce strategy into yearend 26, 0c14 Further downside for global cychcals 21-Aug-15 Better time for consumers ahead, tougher time for producers 19-Oct-14 Stretching to hit numbers? GAAP vs non-GAAP S&P EPS spread wdens 14-Aug-15 Dollar Hulk> A somewhat stronger greenback ok but beware the beast 10-Oct-14 Secular growth shines as acceleration hOpee fade -6Aug-I5 Midterm elections matter, but no reason for correction 9-Oct-14 A chance to go away until Labor Day 19-Jul-I5 Catching a falling knife? 26-Sep-14 Another 'fish hook' earnings season PE expansion is rare as the Fed hikes 19-Sep-14 The Hulk vs the Amazing Euro Hero. Has the Euro found bottom at SI 10> 2-Jul-I5 S&P EPS growth after the super-cycle 12-Sep-I-1 Got your 2H sector strategy ready? Consider Utilities over regional Banks 26-Jun-15 The Seven Signs: Interest Rates, Oil Prices & the Dollar 11-Sep-14 Yellen keeps equities on bullish path 2I-Jun-15 20 EPS finishes with S&P at its top 24-Aug-14 Bullish if dollar and yields settle here 12-Jun-15 Good reasons to return to the top 15-Aug-14 Dear Fed, avoid 1994 by hiking in Sep 5-Jun -I5 Dog days of August Heat from interest rate and geopolitical anxiety 13-Aug-14 10 themes to watch this summer 29-May-15 Lo and behold: Participation rate ticks up. mitigating interest rate ask 1-Aug-14 S&P hits record hgh on 18 trailing PE, PE will be sensitive to Treasury yields 22-May-I5 The pressure release valve gets stuck Treasury yields ckmb as stocks sell off 1-Aug•14 What if Fed rants on hikes for 2015? A little EPS upside, but more PE risk ISMay-I The Seven Signs: Has the climb in yields begun? " 31-Jul-14 Ascent of S&P margins continues 10%« net margin survives Energy dip 10-May-I 5 20 growth better, as expected, but leaves market PE drwen 25-Jul-14 Jobs suggest: Fed hikes. stronger 6, low inflation, Meer curve still ahead 1-May.1 Toemefc sector strategy update' OW Secular Growth sectors & %emcee 15-Jul-14 Mdwav 10 earnings season update Bare,/ clearing a low bar 26-Apr-I5 The hunt for sales growth 13-Jul-14 Meet & Maintain is new Beat & Raise. Results/codes support $118 S&P EPS 17-Apol 5 He4p wanted. A participation spurt with reliable productray needed 2-Jul-14 What to expect for 10 and gudance> Burden on 211 for up 2015 S&P EPS 12-Apr-I5 20 EPS: A moment of truth for EPS aoceleraton 30-Jun-14 The many measures of S&P EPS 2-Apr-I The Golden Ratio: Real GDP Inflation 20-Jun-14 Banks are the laSt cheap stocks left But what if the yield curve goes fat? 27-Mar -I5 Summer Flip-book • 18-Jun-14 Deutsche Bank Securities Inc 2015's S&P 500 tug-of-war intensifies: Dimmer EPS vs. brighter PE outlook 22-Mar-I5 S&P 500 Valuabon: Sum of Sectors 13-Jun-14 The Hulk flexes, S&P EPS shrinks 13-Mar-I5 S&P Valuation Chartbook Snapshot at another record high • 13-Jun-14 Is S&P ready for Fed hires?. 10 FAOs 9-Mar-IS Chasing in the summer: Is it worth ft> ON/UO-14 US equity strategy 2016 Outlook 2016 S&P Outlook Still low yields despite Fed hikes to boost S&P PE 8-Dec-15 • char/Ivor puiecorwir Sant Detesr.A. Ewa CONFIDENTIAL - PURSUANT TO FED. R. CRI M. P. 6(e) DB-SDNY-0 120438 CONFIDENTIAL SDNY_GM_00266622 EFTA01459766