EFTA01453252

CL1' 98. 7O +.50 ...... 7 i (.98.69 /98.70 9x2 Prey 98.20 At 9:56 d Vol 58493 Op 98.25 Hi 99.09 Lo 98.06 0penIni 150876 cu. Cone CornCty 19 Si e A - 90 alb s '; 'VI) RH 4 " -Table Line Chart MU -Oa Litilall! Sr ,:, Cr"' f M''. m.:s ass ;mimics; Pv.>: ID 3D WI Sr Y1-3 IY SY !tax 30 ft n . li c wurqyistxty • event 0 I I + 'Track 41. Annotate — News O, Zcxxn 1 I I I I I. I. I I F I. I F F y• Last Price 98.70 T High on 03/03 10:30 105.11 -9- Average 101.75 1 Low on 03/12 11:30 97.64 Prey Close 100.30 17 18 19 20 21 24 25 26 27 28 Feb 2014 03 04 05 06 07 10 11 12 13 14 Mar 2014 .105.00 104.00 0.103.00 0.102.00 .101.00 0.100.00 0-98.00 --- Forwarded by Tana Smithlelbabcom on 03/14/2014 09.52 AM --- Prom' Vansivee Vermardlildbcom@DBEMEA To. looptagre4 db.com: Date 03/14/2014 03:53AM Subject Markets opering weaker. Kerry and Lavrov meeting today key I KCP Capital Markets III Risk aversion continues from yesterday as we approach the weekend. Nikkei -3.3.%, MICEX (Russia) -4%, DAX futures -1% Commodities have remained relatively stable despite the movements in other markets WTI and Gold (charts below) have hardly reacted There is increasing nervousness ahead of Sunday's referendum in Crimea. G7 leaders said they would not recognize the outcome of the referendum, while Russia has maintained that they were prepared to "mirror" any sanctions There were reports of Russian military "training exercises" along the border yesterday Key events to watch today: 1) Russian Foreign minister Sergei Lavrov and US Secy of State John Kerry meet in London. This is a last-ditch effort to de-escalate the situation 2) Central Bank of Russia meeting today at 9:30 where Bloomberg survey expects no change Swaps curve is pricing in over a 100bp hike. How will the central bank react to FX pressures? Ongoing tensions justify a cautious approach into the weekend. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 110763 CONFIDENTIAL SDNY_GM_00256947 EFTA01453252