EFTA Document EFTA01459545

• Focus Europe - Chief Economist Mark Wall dives into the risks of a slowdown in euro-area growth, primarily driven by an external demand shock and a deflationary shock. • Weekly Highlights - Larry Adam, our US WM CIO & Chief Investment Strategist, gives an overview of major global asset classes and touches on the unlikelihood of a US recession. • US Equity Insights - Head of US Equity, David Bianco, discusses his decision to cut 2016E S&P EPS almost entirely from Financials based on the