Global/Slant – Page 3 – Global/Slanted Analysis of Business + Financial + Political Markets Authored By A L/S Equity Portfolio Manager Believing "Not Everything That Counts Can Be Counted."

05/15/201812/26/2018

Protected: 7-10 YEAR TREASURY PRICES = INCREASINGLY “DOWN & TO THE RIGHT”

04/21/201812/26/2018

Protected: LOPSIDED CONSENSUS ON WEAKER U.S. DOLLAR = VULNERABLE TO COUNTER TREND

02/28/201812/26/2018

Protected: LARGEST 5 SECTORS IN S&P 500 = 76.90% WEIGHTING + PRICE IMPACT

02/19/201812/26/2018

Protected: CENTRAL BANKS: MORE LIKELY TO ERASE SOVEREIGN DEBT THAN MEANINGFULLY RELEASE BALANCE SHEET ASSETS TO THE MARKET

02/04/201812/26/2018

Protected: 2 YEAR GREEK SOVEREIGN DEBT YIELDS LESS THAN UNITED STATES 2 YEAR TREASURY NOTE