This document contains market and economic data from October 17, 2019 including: - Stock market index performances ranging from -0.12% to 2.34% across various global indices. - Bond yields changing between -0.56% to 0.60% in different markets. - Commodity prices with movements from -5.64% to 10.49%. - Other data points on GDP forecasts, manufacturing PMIs, ETF flows, monetary policies, earnings results, and economic indicators from various countries.

1. 18 October
2019

3. PAGE 2
• 9
10 1.7518% 10
-0.408%
•
0.60%
0.68% 471.8
• 0.06%
0.03%
0.19%
0.60%
2.34%
Bloomberg 2019/10/17
0.56
0.51
0.52
0.48
0.01
1.00
0.69
0.33
0.29
0.98
0.55
1.18
-0.12
0.26
-0.08
-0.56
-0.46
-0.26
-0.18
-0.18
-0.09
-0.03
0.06
0.09
0.19
0.37
0.60
0.60
0.68
0.94
-
-
% %

4. PAGE 3
•
( )
S&P 500 2.04%
6.36%
8.91%
•
600 2.70%
WTO
Uniqlo 10% 225
4.18%
•
300 1.31%
•
0.58%
Bloomberg 2019/10/17
1.62
0.87
-2.03
-0.26
-0.02
0.11
0.96
2.87
-0.88
7.05
0.38
0.93
1.68
0.82
2.28
2.05
0.58
1.31
1.70
2.04
2.40
2.50
2.70
2.73
2.95
3.09
3.14
3.20
3.49
3.62
4.03
4.18
BAML
300
RTS
S&P 500
MSCI
MSCI
600
MSCI
SENSEX
BOVESPA
MSCI
MSCI
H
DAX
Nikkei 225
% %

5. PAGE 4
•
• 10 11
930 ( ) 287.8
Bloomberg EIA 2019/10/17
-1.68
-0.54
-5.64
1.33
8.02
0.41
10.49
6.39
-1.88
7.60
-0.49
2.37
-1.35
-1.04
0.17
1.46
2.16
2.71
3.38
3.57
3.58
3.58
3.67
5.17
LME
LME
CRB
LME
LME
% %

6. PAGE 5
• 3 43
12 10
15
• 105
71 19
3
Bank of America Merrill Lynch EPFR 2019/10/17
Weekly FICC flows as % AUM

8. PAGE 7
• QE
(FED)
10 15 600
2020
FED
(QE)
•
• 9
7 0.3 ( 2)
0.2%
Bloomberg 2019/10/17
( 1)
( 2)

9. PAGE 8
•
( 1)
•
Netflix 3
10
Merlin Entertainment
Legoland 20
• Q3
3 J.P Morgan, Citigroup,
Johnson & Johnson, UnitedHealth Group
( 2) 34
S&P 500 88%
• Netflix Netflix
680
Netflix 700
Disney+ Apple TV+
Netflix
Bloomberg 2019/10/17
( 1)
( 2) S&P 500

10. PAGE 9
• Johnson
( 1)
(DUP)
10 19
Johnson 320
3 May
259 DUP
85 61
• 2020
1.1%
2020
• WTO
(WTO)
11
WTO
Bloomberg 2019/10/17
( 2)
( 1)

11. PAGE 10
• 9
(CPI) 3.0%( 1) 6
69.3% CPI
9 (PPI)
1.2% 2016 7
• 9
2,181 3.2%
1,784 8.5%
396.5
•
50%
Pence Erdogan
5
•
( 2)
Bloomberg 2019/10/17
( 1)
( 2)

13. PAGE 12
Bloomberg 2019/10/17
/ /
10/21 9 ¥50.0b -¥136.3b
10/21 8 ( ) 0.10% 0.20%
10/22 9 ( ) -0.50% 1.30%
10/23 10 -6.5 -6.5
10/24 3 GDP ( ) 0.40% 1.00%
10/24 10 Markit 46 45.7
10/24 10 Markit 52 51.6
10/24 1 -- 16.50%
10/24 0.00% 0.00%
10/24 0.25% 0.25%
10/24 -0.50% -0.50%
10/24 9 ( ) -0.60% 0.20%
10/24 10 Markit -- 51.1
10/24 9 ( ) -0.40% 7.10%
10/24 7 5.00% 5.25%
10/25 10 IFO 94.6 94.6
10/25 6.75% 7.00%

14. PAGE 13
Bloomberg ICE * ICE
(%) (bp)
(%) (bp)*
/ / 本益比 風險
2.0
2.5
3.0
3.5
4.0
4.5
2011 2012 2013 2014 2015 2016 2017 2018 2019
: 2.93 (10/17)
0
50
100
150
200
250
300
2011 2012 2013 2014 2015 2016 2017 2018 2019
: 113.0 (10/17) 5 : 127.9
5.0
5.2
5.4
5.6
5.8
6.0
6.2
6.4
6.6
2013 2014 2015 2016 2017 2018 2019
: 5.11 (10/17)
200
250
300
350
400
450
500
550
600
2013 2014 2015 2016 2017 2018 2019
: 337.07 (10/17) 5 : 359.0

15. PAGE 14
Bloomberg
(%) (bp)
(%) (bp)
/ / 本益比 風險
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
10.0
11.0
2011 2012 2013 2014 2015 2016 2017 2018 2019
: 6.16 (10/17)
0
200
400
600
800
1,000
2011 2012 2013 2014 2015 2016 2017 2018 2019
: 471.8 (10/17) 5 : 461.2
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
10.0
11.0
2011 2012 2013 2014 2015 2016 2017 2018 2019
: 5.67 (10/17)
0
200
400
600
800
1,000
2011 2012 2013 2014 2015 2016 2017 2018 2019
: 380.0 (10/17) 5 : 441.2

16. PAGE 15
Bloomberg J.P. Morgan -
(%) (bp)
(%) (bp)
/ / 本益比 風險
2.0
4.0
6.0
8.0
10.0
12.0
14.0
2011 2012 2013 2014 2015 2016 2017 2018 2019
: 3.85 (10/17)
0
200
400
600
800
1,000
1,200
2010 2011 2012 2013 2014 2015 2016 2017 2018
: 376.0 (10/17) 5 : 377.4
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
10.0
2010 2011 2012 2013 2014 2015 2016 2017 2018
: 7.42 (10/17)
0
100
200
300
400
500
600
700
800
2010 2011 2012 2013 2014 2015 2016 2017 2018
: 573.9 (10/17) 5 : 515.1

17. PAGE 16
Bloomberg J.P. Morgan (EMBIG) J.P. Morgan (CEMBI)
(%) (bp)
(%) (bp)
/ / 本益比 風險
2.0
3.0
4.0
5.0
6.0
7.0
8.0
2010 2011 2012 2013 2014 2015 2016 2017 2018
: 5.18 (10/17)
0
100
200
300
400
500
600
2010 2011 2012 2013 2014 2015 2016 2017 2018
: 331.34 (10/17) 5 : 348.3
2.0
3.0
4.0
5.0
6.0
7.0
8.0
2010 2011 2012 2013 2014 2015 2016 2017 2018
: 5.12 (10/17)
0
100
200
300
400
500
600
2010 2011 2012 2013 2014 2015 2016 2017 2018
: 343.12 (10/17) 5 : 337.5

18. PAGE 17
Bloomberg J.P. Morgan (JACI)
(%) (bp)
(%) (bp)
/ / 本益比 風險
2.0
4.0
6.0
8.0
10.0
12.0
2011 2012 2013 2014 2015 2016 2017 2018 2019
: 8.26 (10/17)
0
200
400
600
800
1,000
2010 2011 2012 2013 2014 2015 2016 2017 2018
: 654.0 (10/17) 5 : 565.7
2.0
2.5
3.0
3.5
4.0
4.5
5.0
5.5
6.0
6.5
2010 2011 2012 2013 2014 2015 2016 2017 2018
: 4.41 (10/17)
0
100
200
300
400
500
2010 2011 2012 2013 2014 2015 2016 2017 2018
: 271.47 (10/17) 5 : 257.4

19. PAGE 18
Bloomberg 12
MSCI 500
600 225
/ / 本益比 風險
8
10
12
14
16
18
20
2008 2010 2012 2014 2016 2018
: 16.1 (10/17) 5 : 16.1
8
10
12
14
16
18
20
2007 2009 2011 2013 2015 2017
: 17.2 (10/17) 5 : 17.0
6
8
10
12
14
16
18
2007 2009 2011 2013 2015 2017
: 14.5 (10/17) 5 : 14.9
10
12
14
16
18
20
22
24
2011 2012 2013 2014 2015 2016 2017 2018
: 16.4 (10/17) 5 : 17.1

20. PAGE 19
Bloomberg 12
MSCI 300
SENSEX BOVESPA
/ / 本益比 風險
4
6
8
10
12
14
16
2008 2010 2012 2014 2016 2018
: 12.6 (10/17) 5 : 12.1
0
5
10
15
20
25
30
35
2008 2010 2012 2014 2016 2018
: 12.5 (10/17) 5 : 12.7
5
10
15
20
25
2007 2009 2011 2013 2015 2017
: 19.1 (10/17) 5 : 18.2
5
7
9
11
13
15
17
2008 2010 2012 2014 2016 2018
: 11.8 (10/17) 5 : 12.2

21. PAGE 20
Bloomberg
VIX MOVE
CDX
/ / 本益比 風險
0
10
20
30
40
50
60
70
80
90
2008 2010 2012 2014 2016 2018
: 13.79 (10/17) 5 : 15.20
0
50
100
150
200
250
300
2007 2009 2011 2013 2015 2017
: 77.6 (10/17) 5 : 65.7
50
60
70
80
90
100
110
120
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
: 60.9 (10/17) 5 : 67.9
200
250
300
350
400
450
500
550
600
650
2012
: 338.9 (10/17) 5 : 368.1

22. PAGE 21
-5%
0%
5%
10%
15%
20%
25%
30%
35%
'14/10/17 '15/10/17 '16/10/17 '17/10/17 '18/10/17 '19/10/17
-10%
-5%
0%
5%
10%
15%
20%
25%
30%
'14/10/17 '15/10/17 '16/10/17 '17/10/17 '18/10/17 '19/10/17
0%
5%
10%
15%
20%
25%
30%
35%
40%
'14/10/17 '15/10/17 '16/10/17 '17/10/17 '18/10/17 '19/10/17
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
30%
35%
'14/10/17 '15/10/17 '16/10/17 '17/10/17 '18/10/17 '19/10/17
5 1
37.9% 0.6%
29.0% 0.1%
5 1
26.9% 0.8%
31.2% 0.1%
5 1
32.4% 0.7%
30.1% 0.1%
5 1
23.4% 0.0%
26.3% 0.1%
Bloomberg
* 50% +50%
5 ( ) 5 ( )
* 5 ( ) 5 ( )

23. PAGE 22
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