FX, fixed income & macro’s disclaimer

This research report has been compiled by Swedbank Large Corporates & Institutions, a division of Swedbank AB (publ).

The document is not advisory and is merely intended to serve as information to a limited amount of qualified investors.

The information in this document has been compiled from sources believed to be reliable. We accept however no responsibility for correctness or completeness. It is recommended that recipients of this document supplement the basis for their decision-making with any material that might be considered necessary. Opinions and recommendations obtained in this document represent our present opinions but may change.

Swedbank Large Corporates & Institutions accepts no liability whatsoever for any direct or consequential loss or injury of any kind arising from the use of this document.

Recipients should be aware that Swedbank AB and its subsidiaries from time to time may have positions or holdings in securities of such companies or issuers directly or indirectly referred to herein or may be providing or seeking to provide corporate finance and dept capital markets services to such companies or issuers.

This document must not be published or distributed in the United States or to other countries or persons to which publication or distribution is prohibited.

The material may not be reproduced without the consent of Swedbank Large Corporates & Institutions. Reproduced by Swedbank Large Corporates & Institutions, Swedbank AB (publ), Stockholm 2012.

© Swedbank AB (publ)
Attention: Please note important background information about Swedbank and customer information; https://research.swedbank.se/disclaimer.aspx