Investment traffic lights
Investment traffic lights
Our tactical and strategic view
it
1 To TTIT.T1th:1
Regains
United States
Europe
Eurozone
Germany
United Kingdom
Japan
Emerging markets
Asia ex Japan
Latin America
Consumer staples
Healthcare
Teferximniunications
Consumer discretionary
Energy
Financials
Industrials
Information technology
Materials
Style
Small and and cap •
•
•
•
•
•
•
•
•
•
'as of 8/13/15
*•as of 6/25/15
• • `as of 8/19/15
Source. Deutsche Asset & Wealth Management Investment
GmbH
Past performance is not indicative of future returns. No
assurance can be given that anyforecast, investment objectives
and/or expected returns will tre achieved. Allocations are subject
to change without notice. Forecasts are based on assumptions,
estimates, opinions and hypothetical models that may prove to
be incorrect. uo to June 20
1 ie 3 neat,*
RAT'‘
U.S. Treasuries (2-year)
U.S. Treasuries (10-year)
U S Treasuries (30-year)
U.K. Gills (10.year)
Eurozone periphery
German. Bunds (2-year)
German. Bunds I10-year)
Japanese government bonds (2-year)
Japanese government bonds (10-year)
U.S. investment grade
U.S. high yield
run investment grade'
EUR high yield'
Asia credit • F
• F
• Jr
• F
• NI
• F
•
•
• F
•••
NIL
-0
Emerging. market cmdit • si
MEMEISISIONIMINIONIMI Covered bonds'
U.S. municipal bonds
U.S. mortgage -bodied securities •
•
CT/UT:ITT:Kr:
FUR vs. USD
USD vs. JPY
EUR vs. GBP
EUR vs. JPY
GBP vs USD
Iniraslmcture
Commodities
Real estate (listed)
Real coate (non-listed)
fledge funds
Private Equity' •
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•
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•
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CONFIDENTIAL DB-SDNY-0118075
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