EFTA01459091.pdf

Figure 801 List of DB US Equity Strategy It:search inxyg, C cn co m Z Research Title Date Research Title Date c. 0 co S&P should finish the year in black but more red ahead for Energy -8Nov-IS 2015 S&P gains now PE expansion dependent 25-Jan-15 -":2 3 Amazing margins, but mind the GAAP 8-Nov-15 S&P 500 Industrial Capital Goods: High risk low reward - we prefer Tech 18-Jan-15 A structural slowing of industrials: Investing around this late cycle risk 1-Nov-15 Seven Signs 2 Red, 4 Yellow, 1 Green 13-Jan -I5 C N, 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-15 = 0 Corporate debt and Bank EPS outlook 16, 0ct-I5 2015 S&P Outlook. Better time for consumers, but tougher for producers 15-Dec-14 ✓T Portfolio Health Advisory: Premature rotation into Energy & Industrials 12-Oct-15 What's a profit recession> 5-Dec-14 Window for 2015 liftoff slams shut Cut S&P 2015 end target to 2050 2-Oct-15 Happy Thanksgiving US GDP vs S&P 26-Nov-14 Debt certify showdowns: A new twist to the election cycle? 28-Sep-15 Macro trends favor Retailers over Industrial Capital Goods, so do we 21-Nov-14 Fed delays Less S&P upsde for 2015 18 -Sep -I5 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 1I-Sep-I5 Slow growth, but strong payouts: Definitive dividend 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-Oct-14 Post correction: Better without the froth, but still real risks to monitor 25-Aug-15 Post-bounce strategy into yearend 26 -Oct -14 Further downside for global cycicals 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 widens 14-Aug-15 Dollar Hulk? A somewhat stronger greenback ok but beware the beast 10-Oct-14 Secular growth shines as acceleration hopes fade 6-Aug-15 Midterm elections matter, but no reason for correction 9-Oct-14 A chance to go away until Labor Day 19-Jul-15 Catching a falling knife? 26-Sep -14 Another 'fish hook' earnings season 12-Jul-15 PE expansion is rare as the Fed hikes 19-Sep -14 The Hulk vs the Amazing Euro Hero: Has the Euro found bottom at $1.10? 2-Jul-15 S&P EPS growth after the super-cycle 12-Sep -14 Got your 2H sector strategy ready> Consider Utilities over regional Banks 25-Jund 5 The Seven Signs Interest Rates. Oil Prices & the Dollar • 11-Sep -14 Yellen keeps equities on bullish path 21-Jun-15 20 EPS finishes with S&P at its top 24-Aug..14 Bullish d 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-Jun15 Dog days of August: Heat from interest rate and geopolitical anxiety 8Aug- 4 IC themes to watch this summer 29-May-I5 Lo and behold. Participation rate licks up. mitigating interest rate risk 1-Aug-14 S&P Ms record high on 18 trailing PE, PE will be sensitive to Treasury yields 22-May-15 The pressure release valve gets stuck Treasury yields climb as stools sea off 1-Aug-14 What if Fed relents on hikes for 2015) A little EPS upside, but more PE risk 15-May-15 The Seven Signs: Has the cl rnb in yields begun> ' 31-Jul-14 Ascent of S&P margins continues: 10%+ net margin survives Energy dip 10-May-15 20 growth better, as expected, but leaves market PE dnven 25-Jul-14 Jobs suggest Fed hikes, stronger S. low inflation. flatter curve still ahead 1.May-15 Thematic sector strategy update OW Secular Growth sectors & financials 18-Jul-14 Midway 10 earnings season update. Barely clearing a low bar 26-Apr-15 The hunt for sales growth 13-Jul-14 Meet & Maintain is new Beat & Raise Resultaudes support $118 S&P EPS 17-Apr-15 Help wanted A particoation spurt with reliable productivity needed 2-Jul-14 What to expect for 10 and guidance, Burden on 2H for up 2015 S&P EPS 12-Apr-I5 20 EPS: A moment of truth for EN acceleration 30-Jun-14 The many measures of S&P EPS 2-Apr-15 The Golden Ratio. Real GDP / Inflation 20-Jun.14 Banks are the last cheap stocks left: But what if the yield curve goes flat> 27-Mar-15 Summer Flip-book • le-Jun.14 2015's S&P 500 tug-of-war intensifies: Dimmer EPS vs brghter PE outlook 22-Mar-15 S&P 500 Valuation. Sum of Sectors 13-Jun-14 The Hulk flexes, S&P EPS shrinks 13-Mar-15 S&P Valuation Chartbook Snapshot at another record high ' 13-Jun-14 Is S&P ready for Fed hikes) 10 FAOs 9-Mar-15 Chasing in the summer: Is it worth it> 5-Jun-14 Reaching for small caps. selecuvehn Prefer small Retailers vs. small Banks 27-Feb-15 Standing on the shoulders of bonds 30-May-14 Tech Titans can overcome the Hulk 18-Feb-.15 GOP is a deceptive denominator Several po lar charts improved 22-May -14 'Oui SeqpnGog 4ueg apSinag Why should investors look through it? 6-Feb-15 Bank those Energy gains 16-May-14 Repatriation holiday Good step to a territorial system, but not a substitute 3-Feb-15 Yields are key to S&P PE & Styles: Watch Partobation & Productive": 11.May-14 Finding Domestic S&P 500 stocks: Both Domestic Cyckeels & Defensives 30-Jan-15 Signature Charts * -9May-14 US equity strategy 2016 Outlook 2015 MP Outlook Better time for consumers, but tougher for producers '5-Dec-14 chmamkamverau Yce Deurscne Sold, CONFIDENTIAL — PURSUANT TO FED. R CRIM. P. 6(e) DB-SDNY-0119315 CONFIDENTIAL SDNY_GM_00265499 EFTA01459091