EFTA Document EFTA01458597

PM* mmiliont Ftcm. Th ey5 Nana kwortmall t* is Atte.4.404.5 NrspntLos 004101.0 144011.0401044011 0001 The big picture Our strategic forecasts The Fed decided to postpone its first rate hike. Its decision was not focused on the U.S. economy alone but on the deceleration of growth in emerging markets. Asoka Wahrmann, Chief Investment Officer Economic data OP: 02-ited Suatcl 2.3 or 2.4 Eumntync 1.4 1.6 Unttd Kegdorn 2.5 2.2 Japan 0.6 0 1.2 Our.) 6.6 1 6.0 WrAd 3.2 1