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rers to invest in Chinext IPOs and also on comments from the CSRC recommending large corporates whose share price is sub-book to conduct buy backs. Shanghai struggled to hold onto gains on the usual IPO related liquidity concerns and ahead of tomorrow's release of December CPI/PPI data. South Korea under
e of 51 contracts per day. Secondaries/Blocks (announced/priced): RBCN, CDR, RSE, KGX GY IPO's: City Office REIT (OFFC) files for $115M IPO through Janney and Wunderlich US Key Research: Bofa upgrades IART & cuts TCS, Barcap cuts HUMIMGLN, Berenberg cuts VECO • BMO downgrades LLY, BTIG initiates BSX/
tes RGRISWHC (buy) ••• CS initiates CAKE/CMG/EAT/SBUX (op) & BKW/MCDNUM (neut) & DRI (up) & cuts USB ••• GS reinstates PCL (neut) & downgrades CPA, Janney initiates FLS (buy) • Jefferies initiates BAC/JPM (buy) & C (hold), MLV initiates ORMP (buy) EFTA00376743 • MS cuts NBIX/ZTS & upgrades VRX & ini
spinoff & list its telecom operations as business trust (trading +5%) China "very close" to starting a board for listing of overseas companies in Shanghai (global manufacturers to have priority) Finland's economy grew faster than expected (led by investments) as expansion in northernmost euro member e
Research: ISI Group initiates BMY (hold), Wedbush initiates CERS (op), Wells downgrades FRO Key Research: Barcap upgrades ARUN, Piper upgrades ZQK, Janney upgrades NWY, CS downgrades FDO Key Research: Jeff initiates FINL/SGNT/NKE (buy) & CSCO/VFC (hold), Merriman initiates IRDM (buy), JPM upgrades FR
ffices in New York, Los Angeles, Houston, Chicago, Bethesda, Toronto, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong and Shanghai. Apollo had assets under management ofapproximately $ I 70 bil lion as of December 31, 2015 in private equity, credit and real estate funds invested
,666 162.107.977 176.169.986 180.370.747 155.349.017 173.271.666 guidance in 2(1'15 which resulte✓ in the deconvolida non of tenant funds as of Janney). 2015 an✓ a tnravurement alternative oldie financial oven and liabilities of the remaining consolidated The adoption did mu impact net income att
Hong Kong outperformed as it grinded higher to close near the highs led by the heavily shorted names and the HSI firmly reclaimed the 20,000 level. Shanghai struggled a bit but did manage to eke out a small gain, but the divergence in the NH spreads on dual listed names was notable as several were larger
st initiates APD/PX (buys) & upgrades ADS (buy) & cuts AXLL, GS cuts NTGR (sell) ••• Wells cuts HPQ/LUFK & upgrades RAX/GLP, Key upgrades FIX (buy), Janney initiates GOOG (buy) ••• CS upgrades HNT, BMO upgrades KEY, Nomura upgrades MGM, UBS cuts VHS, Opco assumes CPHD (op) Europe Key Research: ••• Cit
Entities connected to both Shanghai and Janney

Jeffrey Epstein
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Marc Rich
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Ghislaine Maxwell
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Stephen Hawking
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Prince Andrew
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Samantha Power
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John F. Kennedy
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Joe Biden
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Eric Trump
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LOCATIONIke Groff
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