Regional Morning Notes March 2015 Preview Long-term interest rates needed to be lower than growth in the euro zone from 2010 Global Data Watch Commodities Comment：“Sell in May” – strong seasonal effect in metals seems to have faded Share price and fundamentals diverging; downgrade to UW Mgmt Meeting Takeaways for CMRX, HALO, NKTR,and ISIS Markets Overvie March Trade - Seasonal rebound in copper and iron ore imports, but metal exports soften Expecting Inline C1Q on Solid Memory Spend; C2Q Also Driven by Memory with Foundry / Logic More Subdued - Top Pick: LRCX