EFTA01458007.pdf

Glossary Here we explain the main terms from the CIO View Alexis Tsipras is Greece's elected Prime Minister since January The Dallas Fed €nternational House Price index Database for 26th, 2015. Germany is a price index compiled by the Dallas Fed which includes German real estate. Arbitrage describes the practice of exploiting a price differential between two (or more) markets. The DAx tracks the performance of the 30 major German companies trading on the Frankfurt Stock Exchange. The Burelays Aggregate U.S. Bond Index aims to measure the performance of the U.S. Investment Grade bond market. Devaluation is the forced reduction of the value of a currency against others. The Barclays High Yield Index captures the performance of high- yield debt securities. The ECB's Emergency Liquidity Assistance (ELA) is a measure whereby a national central bank of the Eurosystem grants The Bank for International Settlements (BIS) is the international central-bank money to a solvent financial institution that is organization of central banks. experiencing temporary liquidity problems. The Bank of England (BoEl is the central bank of England. Emerging markets (EMI aro those economies which are not yet fully deve€oped in terms of market efficiency, liquidity, and other The Bank of Japan (Brie is the central bank of Japan. factors. Brain drain refers to the flight of a country's more educated The euro (EU RI is the official currency of the Eurozone. workers abroad, usually for economic reasons. The European CuntrAl Bank (ECB) is the central bank for the A bubble is an artificially highly valued market that may be about euro. It administers the monetary policy of the Eurozone, which to burst. consists of 19 European Union member states. Buncls is a commonly used term for bonds issued by the German The U.S. Federal Reserve Board (Fed) is the board of governors of federal government with a maturity of 10 years. the Federal Reserve: it implements U.S. monetary policy. Capacity utilization refers to the share of an economy's Fundamentals are data giving information about the general productive capacity that is in use. well-being of companies. securities or currencies and serving for the subsequent valuation of these as an investment opportunity. Ciientelism refers to the use of economic incentives by politicians to influence parts of their electorate. Gearing is a measure of an investor's or a firm's borrowing to capital owned. Cloud computing encompasses technologies and services that offer the dynamic and flexible use of a third party's FT Groxir is the term used to describe a Greek exit from the infrastructure. Eurozone, either deliberately or accidentally. The CNX Nifty Index is a market-capitalization-weighted index Gross domestic product (GDP} is the value of all goods and that tracks India's 50 most important listed companies. services produced by a country's economy. Consumer discretionary is a sector of the economy that sells H-shares are shares of mainland Chinese companies listed on non-essential goods and services. Hong Kong or other non-mainland exchanges. Consumer staples is a sector of the economy that sells essential The Hang Seng China Enterpri<;es index (hiSCE I) includes the goods and services. largest and most liquid H-shares traded in Hong Kong. The credit market is the market for corporate bonds. HigiFyield itlY) describes bonds which are sub-investment grade. 12. =rm... C.:WA•nlAmt, :cx. ati 6x.IA:t..w 7015 CONFIDENTIAL — PURSUANT TO FED. R. GRIM. P. 6(e) DB-SDNY-0117757 CONFIDENTIAL SDNY_GM_00263941 EFTA01458007