EFTA01384494.pdf

18 September 2017 Long•Term Asset Return Study. The Next Financial Crisis International 10 year government bond return charts 'Figure 96: Last 5 Yeats Annualised 10 Year Government Bond Returns - Nominal (lett), Real (middle), USD (right) 1 2% loc • *CU MIA 10, 0% 8% ph % BILIlitiplupp.. 2% 411. 2% IR pispiliji PIIIIii15/J111111111111.11, 42 San Onaloolilsot GPO Fig.tre 97: Last 25 Years Annualised 10 Year Government Bond Returns - Nominal (left), Real (middle), USD (right) 4% Ora .EPA IM 7% iR 7% % oR I% 2R 2% 14 OR OR 14 .7, 7 JCS .2 11 311 : gi r d= y t ry Figure 98: Last 50 Years Annualised 10 Year Government Bond Returns— Nominal (left), Real (middle). USD (right) le% •MA o11. •Cm 500 12% 12% 11% 104 CM 4% 6 7% % SondurrInfrantePO 'Figure 99: Last 100 Years Annualised ID Year Government Bond Retuins - Nominal (left), Real (middle). USD (right) D0M • IA 4% EM 6% ill Ill U WI 54 111111111F 4eli 4% 11111! I g i11 211 1111 A E4% Soisc• 0..MM flam GED Deutsche Bank AG/London Page 87 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0084736 CONFIDENTIAL SDNY_GM_00230920 EFTA01384494