EFTA01385440.pdf

3January 2018 HY Corporate Credit HY Multi Sector,Media. Cable & Satellite (Figure 18: Apparel deflation decelerated through November 6.0% 4.0% 2.0% • 0.0% -2.0% -4.0% • in t . 6" +dt OP ir e 1 1 61 elt —CPI • E Food & Enorgy YoY CPI: Apparel YoY same cams Sr* 13*Cndep AnSIC• High yield issuance review 'Figure 19: Consumer related issuance through 12$18117 $25,000 $16,966 $21,966 $21,660 520,003 • $15,003 • $5275 $10000 51,585 $6.401 55.700 59.000 55,003 16.675 53.540 $3.690 $0 $t 335 2014 2015 2016 2017 • Consumer EoodBev.Tob. • Restaurant RetailGrocery • Services.Same Sec Soarer Oseeche ant Page 166 Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0086725 CONFIDENTIAL SDNY_GM_00232909 EFTA01385440