LC Investment Playbook Weekly Update

Macro Highlights

• A review of the current environment and market expectations across US, Europe, UK, China and India.

• Data points to easing US Labour market

• US CPI – Decisive factor

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Fixed Income Highlights

• A review of US and EU long term rates and credit

• European Credit – GFC type scenario priced in

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Equity Highlights

• A review of the current environment and outlook of US, Europe, China and India equity markets

• Weak Chinese Equity Earnings Overall

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Forex, Commodities & Alternatives

• A review of commodity and FX pricing and rates

• Europe Energy – Russian Gas Contribution, Gas Rationing

• EU Likely Able Cope without Nord Stream 1

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