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A Merrill Lynch Investment rating Company ticker Bloomberg symbol Analyst BUY Affiliated Mgrs. AMG AMG US M
saction in any | Lynch (Asia Pacific) Limited in ngapore recipients of this research m, or in connection w
CY17 cY18 CY16 CY17 cY18 m@BofAML m= Consensus (Bloomberg, as of 15 Nov 2016) Source: BofA Merrill Lynch f
s F 06872E and 198602 BANA Australia) and ribu ingapore) Pte Ltd in im me a ha der the Banking Act 19
organ EM equity portfolio inflows Left axis shows EM equity portfolio flows in Sbn. 200 150 100 0 -50 -10a 05 06 07 08 09 10 It Source: IF. Blomberg. EM equity nortfolioflows $bn 60% 50% 40% 30% 20% 10% 0% -10% MSCI Skin ISCI Wald -20% 12 More details in ... US Credit Markets Outlook
mber of the Singapore Exchange Securities Trading Limited and is regulated by the Monetary Authority of Singapore (MAS) and/or JPMorgan Chase I3ank. S. Singapore branch (JPMCB Singapore) which is regulated by the MAS. Malaysia: This material is issued and distributed in Malaysia by JPMorgan Securities (Malays
e: BofA Merrill Lynch Global Fund Manager Survey, Bloomberg. As a reminder, the FMS Cash Rule works as follow
n of Affiliate Research Reports: LPF&S distributes, or may in the fi South Africa ( PRA}; Merrill Lynch (Australia): Pacific) Limited, regulated by th Singapore (MAS); Merrill Lynch CV, Casa de Bolsa, regulated by japan): Merri Financial Supervisory Service; regulated by the Securities and Excl Lynch Israel
Page: HOUSE_OVERSIGHT_014999 →ion nor any op | Lynch (Asia Pacific) Limited in ngapore recipients of this research Merrill Lynch (Singa
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 Singapore

Jeffrey Epstein
PERSON
Bloomberg L.P.
ORGANIZATION
Donald Trump
PERSON
Marc Rich
PERSON
United States
LOCATION
Barack Obama
PERSONLeon Black
PERSON
Ghislaine Maxwell
PERSON
George W. Bush
PERSON
United Kingdom
LOCATION
Stephen Hawking
PERSON
Eric Trump
PERSONDoug Band
PERSON
Alan Dershowitz
PERSON
JPMorgan Chase
ORGANIZATION
Lesley Groff
PERSON
U.S. Treasury
ORGANIZATION
Philippines
LOCATION
Frankfurt
LOCATION
Merrill Lynch
ORGANIZATION