EFTA01447904

1 July 2014 Early Morning Reid: Macro Strategy 'Figure 4: Total Return Performance of Major Global Financial Assets - YTD 2014 20% 16% 10% 5% 0% -5% -10% ',Corp Bond • Coin Bond Equity NEM Equity a EM Bond ', Commodity 4, FX is aaa t Bit !ii rr cg e, 2 x y To = c 5 s n it is A L') 8 a _x co 'O 0 al a a u. • O .O .O c O.n. C X C *a. O *3 2- x 2 21 2 O 3 al 72: -oa ts - r Erna, cn XOcocco - D comi - gco csqx c0 0 (0 0 DC)cc<c03 Lu ?.(...•28 LU w § ap. Cx C O (.7 Doi CI (0 0 0 .c z g LL a. weL o e a' IL F- 0 D IS ati oi-ZZiu - 2 'E v) 0 In Ln D(.; th D SirS ) L.7 LL • 8 N' D a 2 2 cn cn Son bath* Suit Illeernawy Shares LIP, mob. B [Figure 5: Total Return Performance of Major Global Financial Assets-- YTD 2014 (in USD) 5% 0% -10% -5% •Corp Bond • Govt Bond Equity •EM Equity •EM Bond =Commodity -FX ad r, r i 4=a ,s31 tg g ": .8 g3 I- 312 § tu Nil II 11 2x ogg tc in thi ew 6 m- s 0% rt -,3;Igsr,m,LuDwor3<>-..°)ii.- 03 E4. ut 8z ouiu-W crr, z a IL m it r co cr 0 0 (9 tx D 0 in Li_ 0 a a D [repeated 3 times] LLI D a - 6 D O a Saint Dosch. Bet Elloonbey Wove LIP, At. Deutsche Bank AG/London _J Page 5 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0102690 CONFIDENTIAL PROT1 PROT0