EFTA01381403.pdf

Regression based fairialue (Chart 17). 3%- 2% ■ Rich/Cheap (+/-) 1% 0% • III" -1% -2% Percentage deviation of current spot from fitted value based on a 3-year regression of the currency against -3% local equities, local 10Y bonds, S&P, 10Y USTs, USD 711/I, Oil and Sovereign CDS (where available) -4% IDR KRW PHP TWD CNY SGD INR MYR THB Source: Bloomberg Finance LP CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0080353 CONFIDENTIAL SDNY_GM_00226537 EFTA01381403