EFTA Document EFTA01458002

1"*. r*PP0P7 Tho 6.9 p.--tran Instnensav to rffic hoot P6rtfghp H.311<;pwcPpri Idt‘o Joe Benevento and Joem Wasmund, Gioba Ha„ tdS of Fixed Thome/Cash Stu Fixed-income market perspectives Moving back to risk-on? Beware the law of unintended consequences. The first halt of 2015 was a turbulent ono. In the first few months, Russia, the Ukraine and Brazil were in the headlines, as were commodity prices and the abandonment of the EUR/CHF peg. The second quarter was then dominated by