📄 Extracted Text (182 words)
The hunt for yield — how will it reverse?
Risk spectrum
Fed funds -0.10y IG HY -0. Equities Emerging Markets
Two risks for disruptive reversal:
1) Higher US inflation
2) ECB Exit
:4
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ECB exit and higher US Treasury yields
leading to less demand from abroad for US IG
S bilbn Net foreign purchases of US corporate bonds S bllcn
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25
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From: Torsten Slok
Sent: Thursday, March 01, 2018 8:03 PM
To: Martin Zema Xavier Avila Stewart Oldfield
Cc: Jennifer Francis
Subject: RE: Fwd: DB: Foreign demand or US credit weakening
Yes, tmrw @ 11.OOam EST?
CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0091850
CONFIDENTIAL SDNY_GM_00238034
EFTA01388351
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EFTA01388351
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