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sd-10-EFTA01379445Dept. of Justice

EFTA Document EFTA01379445

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11 December 2017 Special Report EMFX Outlook 2018: Growth-led Revaluation Equity allocations near historical lows still Em•egung Afmkist$ tun Etre/010 WeIgn 51'15104r CI.,. .7-4 fl ea:W:0, 22 21 20 10 10 17 16 15 14 13 12 i 11 2008 Fa 2010 2011 2012 2013 2014 201$ 2016 2017 Se.50t 4/417 4444.inann.k4414, mon., Ainl, arn ETI4 Sway Onsals8•11. EPFlt stun, nAgen am/An andET44 . 2. EM FX valuations are still attractive According to our preferred DBeer model (which mode

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Dept. of Justice
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sd-10-EFTA01379445
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