EFTA Document EFTA01367799

22 May 2015 US Equity Insights How 10yr yields react to Fed hikes is the key to S&P PE IFigure 19: 10yr Treasury yields 9.2 3.0 2.8 26 2.4 2.2 20 1.6 1.8 el 4, to el n an 3.2 3.0 2.8 2.0 24 2.2 2.0 1.5 1.8 in 4 7 tn e z 4 7 Sat. Deutsche Sank fli804ouee 1 6 4.4 2 4 10yr Treasury Yield 4 [Figure 21: Syr. 10yr, 30yr Treasury yields SO a5 l0 15 to I 25 16 201 10 1.51 12 10 1.0 00 0.5 06 00 O 0 0 0 ra N td is et eh et a ws US Treasury Yields