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文件名:  180833.rar
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<p class="MsoNormal" align="left" style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: left; mso-layout-grid-align: none;"><b><span lang="EN-US" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">Strategy and Economics<p></p></span></b></p><p class="MsoNormal" align="left" style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: left; mso-layout-grid-align: none;"><b><span lang="EN-US" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">3 Global Strategy &amp; Economics Roundups<p></p></span></b></p><p class="MsoNormal" align="left" style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: left; mso-layout-grid-align: none;"><b><span lang="EN-US" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">5 GEMS Equity Strategy </span></b><span lang="EN-US" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">Emerging Market<p></p></span></p><p class="MsoNormal" align="left" style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: left; mso-layout-grid-align: none;"><p class="MsoNormal" align="left" style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: left; mso-layout-grid-align: none;"><span lang="EN-US" style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;"><p></p></span></p><b><span lang="EN-US" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">7 US Credit Strategy </span></b><span lang="EN-US" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">Three Short Stories<p></p></span></p><p class="MsoNormal" align="left" style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: left; mso-layout-grid-align: none;"><b><span lang="EN-US" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">9 US Economics </span></b><span lang="EN-US" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">Testing Time for the Fed<p></p></span></p><p class="MsoNormal" align="left" style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: left; mso-layout-grid-align: none;"><b><span lang="EN-US" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">11 <place wst="on">Europe</place> Equity Strategy<p></p></span></b></p><p class="MsoNormal" align="left" style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: left; mso-layout-grid-align: none;"><b><span lang="EN-US" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">13 <country-region wst="on"><place wst="on">China</place></country-region> Economics </span></b><span lang="EN-US" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">Impact of High Oil Prices:<p></p></span></p><p class="MsoNormal" align="left" style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: left; mso-layout-grid-align: none;"><span lang="EN-US" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">Facts and Ready Reckoners<p></p></span></p><p class="MsoNormal" align="left" style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: left; mso-layout-grid-align: none;"><span lang="EN-US" style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">Qing Wang<p></p></span></p><p class="MsoNormal" align="left" style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: left; mso-layout-grid-align: none;"><b><span lang="EN-US" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">15 <country-region wst="on"><place wst="on">India</place></country-region> Strategy </span></b><span lang="EN-US" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">Will Indian Equities Decouple?<p></p></span></p><p class="MsoNormal" align="left" style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: left; mso-layout-grid-align: none;"><span lang="EN-US" style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">Ridham Desai, Sheela Rathi<p></p></span></p><p class="MsoNormal" align="left" style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: left; mso-layout-grid-align: none;"><b><span lang="EN-US" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">17 Currencies<p></p></span></b></p><p class="MsoNormal" align="left" style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: left; mso-layout-grid-align: none;"><b><span lang="EN-US" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">Industry Analysis<p></p></span></b></p><p class="MsoNormal" align="left" style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: left; mso-layout-grid-align: none;"><b><span lang="EN-US" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">21 US Freight Transportation </span></b><span lang="EN-US" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">Rails May Be a<p></p></span></p><p class="MsoNormal" align="left" style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: left; mso-layout-grid-align: none;"><span lang="EN-US" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">Safer Place in This Freight Recession<p></p></span></p><p class="MsoNormal" align="left" style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: left; mso-layout-grid-align: none;"><span lang="EN-US" style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">William J. Greene, Adam Longson<p></p></span></p><p class="MsoNormal" align="left" style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: left; mso-layout-grid-align: none;"><b><span lang="EN-US" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">23 <country-region wst="on"><place wst="on">US</place></country-region> Specialty Finance </span></b><span lang="EN-US" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">Long MA, Short AXP ―<p></p></span></p><p class="MsoNormal" align="left" style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: left; mso-layout-grid-align: none;"><span lang="EN-US" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">A Strategy Levered to Payments Pricing That<p></p></span></p><p class="MsoNormal" align="left" style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: left; mso-layout-grid-align: none;"><span lang="EN-US" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">Hedges US Consumer Risk<p></p></span></p><p class="MsoNormal" align="left" style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: left; mso-layout-grid-align: none;"><span lang="EN-US" style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">Kenneth A. Posner, Charles Murphy<p></p></span></p><p class="MsoNormal" align="left" style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: left; mso-layout-grid-align: none;"><b><span lang="EN-US" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">25 US Systems and PC Hardware </span></b><span lang="EN-US" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">Positioning<p></p></span></p><p class="MsoNormal" align="left" style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: left; mso-layout-grid-align: none;"><span lang="EN-US" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">for a Slower Growth Environment: HPQ to<p></p></span></p><p class="MsoNormal" align="left" style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: left; mso-layout-grid-align: none;"><span lang="EN-US" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">Overweight, ISLN Lowered to Equal-weight-V<p></p></span></p><p class="MsoNormal" align="left" style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: left; mso-layout-grid-align: none;"><span lang="EN-US" style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">Kathryn Huberty, Alice Hur, Scott Schmitz<p></p></span></p><p class="MsoNormal" align="left" style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: left; mso-layout-grid-align: none;"><b><span lang="EN-US" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">27 <place wst="on">Europe</place> Autos &amp; Auto Parts </span></b><span lang="EN-US" style="FONT-SIZE: 9pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">The ‘R’ Word<p></p></span></p><p class="MsoNormal" align="left" style="MARGIN: 0cm 0cm 0pt; TEXT-ALIGN: left; mso-layout-grid-align: none;"><span lang="EN-US" style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;">Adam Jonas, David Cramer</span><span lang="EN-US" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; mso-font-kerning: 0pt;"><p></p></span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt;"><span lang="EN-US"><p><font face="Times New Roman">&nbsp;</font></p></span></p><p></p><p></p><p><br/></p>


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