From: Richard Kahn

From: Richard Kahn To: "jeffrey E." <[email protected]> Subject: Fwd: MSCO Research Re: DB: Keeping Us Waiting Date: Wed, 26 Oct 2016 15:19:31 +0000 Attachments: DB_Keeping_Us_Waiting.pdf Morgan research on DB and even mentioning that they are buying some of their debt.. Richard Kahn HBRK Associates Inc. New York. NY 10022 Begin forwarded message: From: "Atlas, Andrew S" < Subject: MSCO Research Re: DB: Keeping Us Waiting Date: October 26, 2016 at 10:58:10 AM EDT To: "Richard Kahn ( )" Hi Rich, Hope all is well. Wanted to share a DB Note that Fixed Income Research published today. Let me know if you have any questions. Best Regards, Andrew Andrew S. Atlas First Vice President Equity Sales/Middle Markets Group Financial Advisor Morgan Stanley Wealth Management I New York, NY 10104 NMLS ID tl 1326736 EFTA00813251 NOTICE: Morgan Stanley is not acting as a municipal advisor and the opinions or views contained herein are not intended to be. and do not constitute. advice within the meaning of Section 975 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. If you have received this communication in error. please destroy all electronic and paper copies and notify the sender immediately. Mistransmission is not intended to waive confidentiality or privilege. Morgan Stanley reserves the r' ht. to the extent permitted under applicable law, to monitor electronic communications. This message is subject to terms available at the following link: If you cannot access these links. please notify us by reply message and we will send the contents to you. By communicating with Morgan Stanley you consent to the foregoing and to the voice recording of conversations with personnel of Morgan Stanley. EFTA00813252