EFTA01387502.pdf

Christian also compares the fixed income rankings to the FX scores, coming up with this handy chart... So RUB just crushes it, while CZK should be a real underweight... meanwhile if you (really?) believe TRY to be a good long, you still shouldn't touch the bonds. And in Mexico, if you must hold the bonds you'd best hedge your fx. Figure 13:EMFI vs EMFX Scorecard - where is the value? FX scorecard ranking 18 17 * Mexico blic • 16 .a> 15 4 steel 3 • Chile South Korea it 2 • Brazil iv 1 • South Africa 10 • Indonesia 9 • Romania 8 • India 7 • Hungary 6 • Colombia 5 • Peru 4 !''.Malaysia 3 v 2 • Poland 1 Russia/ 1 4 2 3 4 5 6 7 8 9 10 11 12 13 14 15_ 16 17 ,18 Fl scorecard ranking attractive shorts ton Own* en Martin Zeman Director I Key Client Partners Deutsche Bark Wealth Management 154-0004 New York, NY. USA Mobil Email KCP products and services are intended for and available only to sophisticated, experienced Investors who qualify as institutional accounts' under FARA Rule 4512(031 and ore capable of evaluating the investment benefits and risks of, and exercising independent judgment in evaluating and determining whether to enter into, sophisticated trading strategies and financial tronsocuons. Transactions ore subject to relevant internal approvals of Deutsche Bank or its affiliates prior to execution, and no transaction, Idea or opportunity discussed herein may be executed unless you arc a client of Deutsche Bonk and of the Key Client Partners group (KCP). Material herein regarding KCP products, investment ideas and solutions is for discussion purposes only. While brokerage services offered through the KCP Americas desk may include investment recommendations and brokerage advice, KCP does not provide kwestment management or investment advisory services, and private market opportunities and other products and services available through KCP ore offered only on a non•odvisory basis. This communication is confidential and personal to you, solely for your information and for discussion purposes only, and does not create ony legally binding oblVation. Reproduction or distribution of any material herein without our written consent is strictly forbidden. This communication may contain confidential and/or privileged information. If you are not the intended recipient (or have received this communication in error) please notify the sender immediately and destroy this communication. Any unauthorized copying, disclosure or distribution of the material in this communication is strictly forbidden. CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) DB-SDNY-0090279 CONFIDENTIAL SDNY_GM_00236463 EFTA01387502