EFTA Document EFTA01362007

Deutsche Bank Securities Inc. 2015 Outlook Recommendations Trade Detail Rationale Risks Opened Entry Current P/L Treasury RV Sell rich bond futures against cheap off-the-run bonds The classic bond futures look rich in the long end Further outperformance of the 6.25s of 5/2030 in the long end 12/19/14 +21 bp +5 by (Closed on 2/25) +1,248k Inflation Swaps Buy 2yr2yr forward breakevens The 2yr2yr inflation appears attractive on a long- term history Further decline in med