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Abbreviations Glossary ACA: Affordable Care Act BEA: Bureau of Economic Analysis BIS: Bank for International Settlements BLS: Bureau of Labor Statistics BOE: Bank of England BOJ: Bank of Japan CAGR: compound annual growth rate CDS: credit default swap CFO: chief financial officer CFTC: Commodity Futures Trading Commission CPI: consumer price index EAFE: Europe, Australasia and the Far East ECB: European Central Bank EM: emerging market EMD: emerging market collar debt EMLD: emerging market local debt EMEA: Europe, the Middle East and Africa EMU: European Monetary Union EPS: earnings per share ETF: exchange-traded fund FTSE: Financial Times Stock Exchange FX: Foreign Exchange GBP: British pound GDP: gross domestic product GFC: global financial crisis GIR: [Goldman Sachs] Global Investment Research GPIF: Government Pension Investment Fund GSCI: Goldman Sachs Commodity Index IGFI: Investment grade fixed income IMF: International Monetary Fund ISIL: Islamic State of lrag and the Levant ISM: Institute of Supply Management JGB: Japanese government bond LBO: leveraged buyou LIBOR: London Interbank Offered Rate LSI: Liquidity Stress Index M&A: merger and acquisition MLP: master limited partnership mmbd: million barrels per day MSCI: Morgan Stanley Capital International NAHB: National Association of Home Builders NATO: North Atlantic Treaty Organization NBER: National Bureau of Economic Research NIPA: national income and product accounts NIRP: negative interest rate policy OECD: Organisation for Economic Co-operation and Development OPEC: Organization of the Petroleum Exporting Countries PBOC: People’s Bank of China PCE: personal consumption expenditures PE: price to earnings PPI: Producer Price Index PPP: purchasing power parity QE: quantitative easing S&P: Standard and Poor’s TIPS: Treasury Inflation-Protected Securities TOPIX: Tokyo Price Index UK: United Kingdom US: United States VAT: value-added tax YoY: year-over-year HOUSE_OVERSIGHT_014613