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is starting to approach silver 300% 250% 200% 150% 100% 50% 0% 3M-rolling annualized stdev of daily returns -Silver —Sltcoln —Gold Source Blomberg BoWAMm11 Lynch Gbbal Research A wide array of risks obscure the future of cryptocurrencles When examining the safety of any asset, volatility is no
es Strategist MLPF&S Sebastian Cross Rates Strategist Pac Rim Tony Morriss Rates Strategist/Economist lial Adrsh Sinha FX Strategist Kongl Paul Ciana, CIAT Shuichi ohsaki Technical Strategist Rates Strategist 1011L Vadim laralov Shusuke Yamada, CFA >> EX Strategist FX/Equity Strategist MLP
RHS) Source: BofA Merrill Lynch Global Research, Bloomberg Source: BofA Merrill Lynch Global Research, Bloom
ovember 2016 Investment Strategy Japan Shusuke Yamada, CFA >> FX/Equity Strategist Merrill Lynch (iapan) #8] 3 6225 8515 [email protected] Paul Ciana, CMT Technical Strategist MLPF&S +1 646 855 6007 [email protected] HOUSE_OVERSIGHT_014424 --- PAGE BREAK --- Chart 1: USDJPY vs yield spread Ch
Page: HOUSE_OVERSIGHT_014424 →<2” 46 Global Rates, FX & EM 2017 Year Ahead | 16 November 2016 . Merrill Lynch HOUSE_OVERSIGHT_014776 --- PAGE BREAK --- Best Technical Trades Paul Ciana, CMT MLPF&S [email protected] Technical trends for Trump ¢ Bullish USD: Breadth and technicals favor USD. Overall they point to a stronger US doll
Page: HOUSE_OVERSIGHT_014777 →ance-decline line recently signaled for tactical USD strength and would turn outright bullish with a trend line break and new index highs. Chart 79: Bloomberg US dollar index, weekly chart with USD breadth measures MEBDXY Index - Last Price MISMAVG (200) on Close (BBDXY) LI9L47 Resistance: 1255 | A af" — ql a
Page: HOUSE_OVERSIGHT_014778 →Entities connected to both Michael Bloomberg and Paul Ciana

Bloomberg L.P.
ORGANIZATION
Donald Trump
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United Kingdom
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U.S. Treasury
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Seoul
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Bank of America
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ORGANIZATIONMerchant Bank
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the Financial Services Agency
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Columbia University
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Merrill Lynch Global Wealth Management
ORGANIZATIONThe Financial Service Board
ORGANIZATIONthe Prudential Regulation Authority
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Bank of America Corporation
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