The document appears to be a collection of market data and statistics from various dates in July 2020. It includes stock market indexes percentages, bond yields, commodity prices, economic indicators, and company earnings. For example, it mentions the S&P 500 was up 2.02% and Germany's DAX was up 3.09%. It also provides charts showing historical trends in bond yields and credit default swap spreads. The pages contain technical market readings and economic numbers but without context around the purpose or audience.

1. 17 July
2020

3. PAGE 2
•
10
0.6168%
10 -0.465%
•
0.93% 39 558
0.74% 21
616
• 0.25%
0.24%
0.17%
0.43%
Bloomberg 2020/7/16
0.46
1.54
1.25
1.13
1.32
0.18
1.29
1.84
1.26
1.94
1.41
0.66
1.66
2.31
0.71
0.15
-0.26
-0.22
0.03
0.15
0.17
0.23
0.24
0.25
0.29
0.29
0.31
0.43
0.45
0.54
0.74
0.93
-
-
ESG ( )
% %

4. PAGE 3
•
•
S&P 500
2.02%
7,500
600 2.33%
DAX 3.09%
•
225
1.07% 2 GDP
300 6.70%
•
0.71%
Bloomberg 2020/7/16
12.50
2.70
6.59
5.67
-1.83
-2.63
8.53
5.61
1.88
1.18
0.83
7.51
3.45
2.91
2.42
4.54
-6.70
-6.01
-3.93
-3.12
-1.17
-0.75
-0.72
-0.29
0.52
0.71
1.07
1.40
1.47
2.02
2.33
3.09
300
H
MSCI
MSCI
RTS
MSCI
SENSEX
MSCI
BAML
Nikkei 225
BOVESPA
MSCI
S&P 500
600
DAX
% %

5. PAGE 4
•
IEA
OPEC+ 107%
OPEC+ 8
970 / 770 /
• 7 10
749 ( )
210
Bloomberg 2020/7/16
0.38
4.68
4.09
3.06
3.33
4.57
3.34
7.91
12.36
5.88
6.18
11.53
-5.30
-2.27
-0.35
-0.33
0.26
0.39
1.59
1.95
2.17
2.41
2.85
3.22
CRB
LME
LME
LME
LME
% %

6. PAGE 5
• 48 17
13 1
17
• 93
79 15
19
Bank of America Merrill Lynch EPFR 2020/7/15
Weekly FICC flows as % AUM

8. PAGE 7
• Larry Kudlow
Trump
•
7
Brainard Fed
8 600
8,640 ( 1)
• 6
7.5%( 2) 2
Bloomberg 2020/7/16
( 2) ( )
( 1)

9. PAGE 8
•
( 1)
• 12
Carnival
Cruise Line 10
Norwegian Cruise
Line
•
S&P 500
200 S&P 500
2 10.8% EPS
-44.6%
3.8% EPS
-21.5%
Morgan Stanley Goldman Sachs J.P Morgan
Domino’s Pepsi
Netflix Bank of America
• 7 11
130 ( 2)
1 17
Bloomberg 2020/7/16
( 1)
( 2) ( )

10. PAGE 9
•
2%
(PEPP)
1.35 Lagarde
• 7 ZEW
6 58.6 59.6( 1)
7 ZEW 59.3
• 5 GDP 1.8%
24.0%
9 11
1,100
•
-0.1%( 2) 0% 10
3
2020 GDP -4.5% -5.7%
( 1) ZEW
( 2)
Bloomberg 2020/7/16

11. PAGE 10
GDP
( 1) GDP
( 2)
Bloomberg 2020/7/16
• GDP 2 GDP
3.2%( 1) 2.5%
3.1% 6
4.8%
1.8%
• 6 1.81
M2 11.1%
6 3.43
8,099
•
6 (CPI) 6.09%
5.3%
•
1 4%( 2)
2016
4

13. PAGE 12
Bloomberg 2020/7/17
/ /
7/20 1 3.85% 3.85%
7/20 5 4.65% 4.65%
7/21 6 4.29 2.61
7/21 6 CPI( ) 0.1% 0.1%
7/21 6 ( ) - -32.0%
7/22 7 PMI( ) - 40.1
7/23 6 3.4% 2.8%
7/23 - 44.3
7/23 7 -11.8 -14.7
7/23 2 GDP( ) -2.1% 1.4%
7/23 SARB 3.50% 3.75%
7/23 1 8.25% 8.25%
7/24 7 Markit PMI( ) 51.9 49.8
7/24 6 4.76m 3.91m
7/24 7 Markit PMI( ) 49.3 47.4
7/24 7 Markit PMI( ) 47.6 45.2
7/24 4.25% 4.50%

14. PAGE 13
Bloomberg ICE (Yield to Maturity)
Option Adjusted Spread Z-Spread to Worst * ICE
2.0
2.5
3.0
3.5
4.0
4.5
5.0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
: 2.03 (7/16)
0
50
100
150
200
250
300
350
400
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
: 138 (7/16) 5 : 131
4.5
5.0
5.5
6.0
6.5
2013 2014 2015 2016 2017 2018 2019 2020
: 4.89 (7/16)
/ /
200
300
400
500
600
700
2013 2014 2015 2016 2017 2018 2019 2020
: 442 (7/16) 5 : 357

15. PAGE 14
Bloomberg (Yield to Maturity)
Option Adjusted Spread Z-Spread to Worst
2.0
4.0
6.0
8.0
10.0
12.0
14.0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
: 6.77 (7/16)
2.0
4.0
6.0
8.0
10.0
12.0
14.0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
: 6.58 (7/16)
/ /
200
400
600
800
1,000
1,200
1,400
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
: 616 (7/16) 5 : 481
200
400
600
800
1,000
1,200
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
: 558 (7/16) 5 : 453

16. PAGE 15
Bloomberg J.P. Morgan - (Yield to
Maturity) Option Adjusted Spread Z-Spread to Worst
2.0
4.0
6.0
8.0
10.0
12.0
14.0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
: 4.79 (7/16)
2.0
4.0
6.0
8.0
10.0
12.0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
: 7.84 (7/16)
/ /
200
400
600
800
1,000
1,200
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
: 512 (7/16) 5 : 395
100
300
500
700
900
1,100
1,300
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
: 763 (7/16) 5 : 491

17. PAGE 16
Bloomberg J.P. Morgan (EMBIG) J.P. Morgan (CEMBI)
(Yield to Maturity) Option Adjusted Spread Z-Spread to Worst
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
: 5.36 (7/16)
2.0
3.0
4.0
5.0
6.0
7.0
8.0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
: 4.82 (7/16)
/ /
200
300
400
500
600
700
800
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
: 477 (7/16) 5 : 367
100
200
300
400
500
600
700
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
: 412 (7/16) 5 : 321

18. PAGE 17
Bloomberg J.P. Morgan (JACI) (Yield to
Maturity) Option Adjusted Spread Z-Spread to Worst
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
18.0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
: 8.19 (7/16)
2.0
3.0
4.0
5.0
6.0
7.0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
: 3.98 (7/16)
/ /
200
400
600
800
1,000
1,200
1,400
1,600
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
: 770 (7/16) 5 : 581
100
150
200
250
300
350
400
450
500
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
: 299 (7/16) 5 : 216

19. PAGE 18
Bloomberg 12
/ /
8
10
12
14
16
18
20
22
2008 2010 2012 2014 2016 2018 2020
: 20.7 (7/16) 5 : 16.0
8
10
12
14
16
18
20
22
24
2008 2010 2012 2014 2016 2018 2020
: 22.2 (7/16) 5 : 17.1
6
8
10
12
14
16
18
20
2008 2010 2012 2014 2016 2018 2020
: 18.5 (7/16) 5 : 14.6
10
12
14
16
18
20
22
24
2012 2013 2014 2015 2016 2017 2018 2019 2020
: 20.3 (7/16) 5 : 16.2

20. PAGE 19
Bloomberg 12
4
6
8
10
12
14
16
2008 2010 2012 2014 2016 2018 2020
: 14.8 (7/16) 5 : 11.9
0
5
10
15
20
25
30
35
2008 2010 2012 2014 2016 2018 2020
: 13.6 (7/16) 5 : 12.0
5
10
15
20
25
2008 2010 2012 2014 2016 2018 2020
: 20.6 (7/16) 5 : 17.4
5
10
15
20
25
2008 2010 2012 2014 2016 2018 2020
: 17.8 (7/16) 5 : 12.1
/ /

21. PAGE 20
Bloomberg
0
20
40
60
80
100
2008 2010 2012 2014 2016 2018 2020
: 28.00 (7/16) 5 : 17.00
0
50
100
150
200
250
300
2008 2010 2012 2014 2016 2018 2020
: 46.4 (7/16) 5 : 63.8
50
60
70
80
90
100
110
120
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
: 55.1 (7/16) 5 : 65.0
200
300
400
500
600
700
800
900
1,000
2013 2014 2015 2016 2017 2018 2019 2020
: 483 (7/16) 5 : 383
/ /

22. PAGE 21
Bloomberg
* 50% +50%
0%
5%
10%
15%
20%
25%
30%
35%
40%
'15/7/16 '16/7/16 '17/7/16 '18/7/16 '19/7/16 '20/7/16
-15%
-5%
5%
15%
25%
35%
'15/7/16 '16/7/16 '17/7/16 '18/7/16 '19/7/16 '20/7/16
-5%
5%
15%
25%
35%
45%
'15/7/16 '16/7/16 '17/7/16 '18/7/16 '19/7/16 '20/7/16
-10%
0%
10%
20%
30%
40%
'15/7/16 '16/7/16 '17/7/16 '18/7/16 '19/7/16 '20/7/16
5 1
31.4% 0.7%
28.3% 0.1%
5 1
28.0% 0.9%
30.7% 0.1%
5 1
29.7% 0.8%
29.5% 0.1%
5 1
27.5% 0.5%
25.5% 0.1%

23. PAGE 22
TR109195
PineBridge Investments IP Holding Company Limited
• /
•
•
•
108 001
104 144 10 (02)2516-7883
407 386 12 8 (04)2217-8168
802 6 17 1(A5 ) (07)335-5898