28 February 2013 Exchange Rate Perspectives Deutsche Bank
28 February 2013 Exchange Rate Perspectives Deutsche Bank
Figure 7: Net portfolio inflows have turned marginally
positive...
1000
COO
600
400 —Poreolo Cuebws
—Portfolio InlOws
Not Ps reo Fon:
\ 200
-203 '‘ 0
7" 1"‘
am -Lc"
-000
-800
Jan-00 Jan02 Jan-04 Jan.06 J ana3 Jan:10 lan-12
Sotece Deutz'', SW Ond Co...'o Cate. Ow* Figure 8: ...as equity market inflows outpace the
money market outflows
1000 360 aat BOICIfind NOT° :boa 360
Ilat MM Fbws
BCC 300 Pin Equip/ Eby., 300
600 260 260
400 200 200
200 160 160
100 1 100 0
50 50
-70C 0 0
4,30 -60 -SO
-600 -100 -100
-150 -160
Jan-03 Jana Jan07 JanO9 Jan-11 Jan-13
Figure 9: Equity inflows have tracked the STOXX
500
400
300
200
100
0
-1C0
.200
300
400
a n-C3 --Not EquefInnovel
Nat Equiff Outfows
Euro STCPX 50 Ws
sr.05 Jan07 Jar.09 Jan.11
Sow. Deotpav be*. evortvg nu EwirAvo Cen'A NM J ins13 4400
4100
3600
3600
3200
2000
2600
2300
2000
1700 Soma Na ti DerA enct Craer Cenvat Pe.
Figure 10: Foreign interest on the bond side boomed
in late 2006 and has slowed now
650
550
450
350
260
160
60
.50
-150
-260
-350
460
la i-03 — Not Bone Parbws
Not Bo • Outibwo
—10Y
Jan-05 Jan-07 Jan-09 Jan11 Jaral3 5.0
4.0
3.0
2.0
1.0
Deutsche Bank AG/London Page 25
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