One of them is the excess liquidity in the bank system as men-tioned above. Another problem is federal budget execution. It is not clear if the government can afford these expenditure increases in the long-run. The information contained herewith is based on information made available to the public and is for information purposes only. Information sources are deemed reliable by RMG Securities, however RMG Securities abstains from any liabilities determined from the information herewith.
Analysis is based on dated market information and is subject to change.