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eek advice rega ents discussed in this report. ‘A Merrill Lynch Global Research, may have issued and may in the future issue trad
money but the barrier was not breached at expiry Energy equity outperformed the overall equity market whi
Price Objective Change
ectively lend again in the sector. Moreover, with energy criticized loans peaking in 1Q16, management expe
rance and REITs? 40% 37% 35% 30% 25% 20% 15% 10% 5% 0% Very overweight Slightly overweight Neutral Slightly Very underweight underweight Source: BofA Merrill Lynch Global Research New this year, we hosted expert panels on the evolution of clearing, fixed income market structure, equity market structure, and payments, and how i
Page: HOUSE_OVERSIGHT_014316 →is underestimating ’17 EPS upside potential from Energy recovery given the segment’s close correlation to
dated Edison ED Chin,Brian A3-7 UNDERPERFORM 74.07 59.00 20,526.00 TripAdvisor TRIP — Schindler,Nat C-3-9 UNDERPERFORM 46.95 41.00 9,071.00 Source: BofA Merrill Lynch Global Research BofA Merrill Lynch does and seeks to do business with issuers covered in its research reports. As a result, investors should be aware that the firm
Page: HOUSE_OVERSIGHT_014622 →Quantitative Analysis
retionary Telecom Staples Industrials Health Care Energy Materials Info Tech Real Estate Source: BofAML U
*S&P ex. Fins. & Real Estate cash is as a % of total S&P 500 market cap Source: Bloomberg, FactSet, BofA Merrill Lynch US Equity & US Quant Strategy, BofA Merrill Lynch Global Research Repatriation in context: a look back at 2004 The last repatriation holiday in the US was the Homeland Investment Act (HIA) of 2004 (part of the Ame
Page: HOUSE_OVERSIGHT_023075 →Entities connected to both BofA Merrill Lynch Global Research and Entergy

Donald Trump
PERSON
Bank of America
ORGANIZATION
Michael Bloomberg
PERSON
Merrill Lynch
ORGANIZATION
United Kingdom
LOCATIONMerchant Bank
ORGANIZATION
Merrill Lynch Global Wealth Management
ORGANIZATION
Bank of America Corporation
ORGANIZATIONThe Financial Service Board
ORGANIZATIONPierce, Fenner & Smith Incorporated
ORGANIZATION
Marc Rich
PERSON
Seoul
LOCATION
BofA Merrill Lynch
ORGANIZATIONBaFin
ORGANIZATION
Frankfurt
LOCATIONMerrill Lynch International Bank Limited
ORGANIZATIONMerrill Lynch International Incorporated
ORGANIZATIONthe Securities and Futures Bureau
ORGANIZATIONOtoritas Jasa Keuangan
ORGANIZATIONILynch
ORGANIZATION