Task: Analysis and Graphs of macroeconomics, monetary policy, political factors & investment recommendations for the respective each regions below (analysis & graphs). Following the Example (picture) below to answer:

1. Australia

Macroeconomics:

Data and Graph of Macroeconomics

Monetary policy:

Data and Graph of Monetary policy

Political factors:

Data and Graph of Political factors

Investment recommendations:

Data and Graph of Investment recommendations 2. United States

Macroeconomics:

Data and Graph of Macroeconomics

Monetary policy:

Data and Graph of Monetary policy

Political factors:

Data and Graph of Political factors

Investment recommendations:

Data and Graph of Investment recommendations 3. Eurozone

Macroeconomics:

Data and Graph of Macroeconomics

Monetary policy:

Data and Graph of Monetary policy

Political factors:

Data and Graph of Political factors

Investment recommendations:

Data and Graph of Investment recommendations 4. Japan

Macroeconomics:

Data and Graph of Macroeconomics

Monetary policy:

Data and Graph of Monetary policy

Political factors:

Data and Graph of Political factors

Investment recommendations:

Data and Graph of Investment recommendations 5. China

Macroeconomics:

Data and Graph of Macroeconomics

Monetary policy:

Data and Graph of Monetary policy

Political factors:

Data and Graph of Political factors

Investment recommendations:

Data and Graph of Investment recommendations 6. Emerging Markets

Macroeconomics:

Data and Graph of Macroeconomics

Monetary policy:

Data and Graph of Monetary policy

Political factors:

Data and Graph of Political factors

Investment recommendations:

Data and Graph of Investment recommendations

Example:

The Storm Is Yet To Come For Chinese Growth Government committed to economic stability through unsustainable leverage NLC Asset management Macroeconomics Declining reserve requirement percentage Reliance on fiscal stimulus causes an unhealthy degree of leverage Forecasts maintain real GDP growth to decline in the short-to-medium term, putting downward pressure on the currency. The degree of leverage in China has grown to meet goals for short term growth. This is indicated by the budget's rising allocation in proportion of GDP. - Real GDP YoY% - Budget (% Of Budget) DANONA MOON Credit tightening and lower demand has hurt industry. Monetary Policy To boost investment and consumer borrowing the central bank implemented a total of 350bps cuts in 16/02/2009 0:00 16/02/2011 0:00 16/02/2013 0:00 16/02/2015 0:00 16/02/2017 0:00 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2019 accompanied by additional 100bps cut in Source: Bloomberg Source : Bloomberg January to the required deposit reserve ratio. Expect to see further cuts to banks reserve Tightening credit conditions combined with weaker Declining Industrial Profits YoY% 2014-2018 requirements beyond what is already implemented this GDP is placing downward pressure on industrial year. It is aimed to push interest rates lower. production and profits. Political Factors US-Sino trade relations increases uncertainty, with the economy estimated to lose ~0.9ppt of GDP growth if the next round of 25% tariffs come into play. Trade exports fell 4.4% YoY among an environment of weakening external demand. Illadded ON 1/03/2014 1/03/2016 1/03/2018 nvestment Recommendation 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Enterprises Total Profits You (Official) . Underweight in TAA. Overweight/Neutral in SAA. " Industrial Production YoY% "Retail Sales YoY - China In Source: Bloomberg terprises Total Profits (CalculatedSource: Bloomberg O- O O Agenda Client Needs SAA Macro Outlook United States Eurozone Japan China Emerging Markets Equity Outlook Fixed Outlook TAA Request Emerging Markets Goes Down With the Global Ship Submerging markets face headwinds and rough seas in the future NLC Asset management Macroeconomics Exports slowly recover from the GFC but could face India ceased issuing govt debt in 4Q2018 over liquidity headwinds with the U.S./China trade war Synchronised slowdown will affect Asian economies as concerns, but is now set to increase fiscal stimulus before the 2019 election they rebalance. 700 South Korea and Taiwan are facing heavy exposure to 600 500 reign Curve Last Mid YTM the U.S/China trade war with their export heavy economies. India's IL&FS (aka the Indian Lehman Brothers) faced a 400 $Billions large default crisis in 4Q2018 that saw its board dissolved by government order. This uncertainty wil stagnate the debt and equity markets for non-bank 100 inancial institutions. Its remaining $12 billion of liabilities represents a significant risk for India. 2010 2011 2012 2013 2014 2015 2 2017 SK Exports ($Bil) India Export (SB#) Brazil Export ($Bil) 3M GM 1Y 2Y 3Y 4Y 5Y TY BY BY 10Y 11 12Y 13Y 14Y 15Y 16Y 21Y 25Y 30Y 40Y Monetary Policy China's stimulus will be longer term and not felt in 2019. Taiwan remains exposed to the technology sector and the Brazil faces pressure on its inflation rate in the short term and Innovation Winter Brazil's economy is highly sensitive to commodities price hikes in many commodities. Venezuela coup could affect 11500 5700 this commodity driven economy through oil restrictions. 1100 520 Political Factors 1050 4700 10000 1200 Modi's (India) populist policy before the election lowers money supply in favour of short term growth. This translates into lower 9500 3700 equity returns in the long run. 900 3200 A Korean conflict will hurt all Asian economies. 8500 2700 U.S./China trade conflict sees no respite, last talks on Feb 15th made no ground. 2200 Brazil and Argentina remain stagnant 1700 Investment Recommendation 2009 2010 2011 2012 2013 2014 2015 2016 2017 - Taiwan Stock Market (TWSE) Shanghai Stock Exchange (SHCOMP) Crude Oil Price COJ ($Mil) Brazil Annual GDP Growth Underweight in TAA and SAA. O Agenda Client Needs SAA Macro Outlook United States Eurozone Japan China Emerging Markets Equity Outlook Fixed Outlook TAA Requests