EFTA01458533

• Economic & Asset Closs Outlook — The U.S. CIO office outlines their near-term and long-term economic and asset class forecasts. • U.S. Equity Insights — David Bianco, U.S. Equity Strategist, cuts his S&P 2015 end target and expects weak 3Q EPS. • CIO Flash: Bond Market Turmoil — Our CIO office warns of near term bond market illiquidity and volatility following the September FOMC meeting. • China Hard Landing - Chief Economists Peter Hooper and Torsten Slok discuss the possibility of an economic slowdown in China given recent equity market volatility and currency devaluation. • The Arithmetic of EM & Globol Growth — Chief Strategist Binky Chadha looks at the sustainability of global growth given the recent weakness in Chinese and EM economies. • FX Forecosts & Voluotions — Alan Ruskin and George Saravelos, Chief FX Strategists, examine the future of the USD bull market and assess the risks of EM currency volatility. From: Stewart Oldfield Sent: Thursday, October 08, 2015 5:46 PM To: Melinda Roy; Paul Morris; Jj Litchford Subject: RE: Research Intro [I] Classification: For Internal use only Perfect. I like having different topics to entice people with From: Melinda Roy Sent: Thursday, October 08, 2015 5:44 PM To: Paul Morris; Stewart Oldfield; Jj Litchford Subject: RE: Research Intro [I] Classification: For Internal use only Okay great I will add those. We were also thinking of adding this China piece attached. From: Paul Morris Sent: Thursday, October 08, 2015 5:43 PM To: Stewart Oldfield; Melinda Roy; Jj Litchford Subject: RE: Research Intro Yes Original Message From: Stewart Oldfield Sent: Thursday, October 08, 2015 05:40 PM Eastern Standard Time To: Melinda Roy; Jj Litchford; Paul Morris Subject: RE: Research Intro Do you think there is value in these? From: Melinda Roy Sent: Thursday, October 08, 2015 4:09 PM CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0118491 CONFIDENTIAL SDNY_GM_00264675 EFTA01458533