Epstein Secrets

BBY (buy), GS upgrades UNH, Baird cuts YUM, Jeff cuts EQRIAVB Europe Key Research: • MS prefers Japanese equities to European, UBS upgrade BBVA SM, BofAML downgrade CNA LN, RI FP • JPM initiate MSTT RU (ow), CON GR (ow), upgrade ALR PW, Barc downgrade JMT PL, -ye Fl IM ••• Nomura upgrade DLG LN, downg

st —ve SDF GY ••• Oddo Euro Construction: (top pick HOLN VX, worst pick CRH ID), downgrade LG FP, SGO FP, upgrade NK FP ••• Exane downgrade NRG FP, Nordea downgrade TOP DC, JEFF downgrade BKG LN, SEB downgrade ATEA NO, • Nordea downgrade TOP DC, ASSAB SS, ENEA SS, Helvea upgrade NOVOB DC, Danske downgr

•• Citi upgrade SESG FP,UBS upgrade GFC FP, downgrade LAD LN, CS downgrade LRE LN, upgrade TSCO LN ••• GS upgrade SPM IM, EMGS NO, downgrade ANA SM, BofAML downgrade ASELS TI, Shorcap upgrade TSCO LN EFTA00394117 • SocGen upgrade YKBNK TI, initiate GIB GY (b), Natixis downgrade EDP PL, upgrade MPI LN,

OR GY, downgrade BEI GY, Numis downgrade MONY LN, CIU LN, SGE LN, MACQ upgrade LXS GY BERE downgrade IVG GY, HELV upgrade GAM SW, downgrade OERL SW, Nordea downgrade GOL NO Reporting Pre-Open: BF.B, BIG, SPLS, AEGR, AEO, CTCM, FLL, HOV, LINC, MFB, OSIR, POZN, ORE, RELY, TFM, THRM, TRK, VIP, WD, WMC, WR

ar Indicator is now at 7.1, the highest level since Jul'14 and not far from "sell" signal. So is this just a pause for breath in the reflation trade? BofAML strategists think so. In our updated thoughts this morning we think reflation is real so stay long equities, short rates, selectively long USD (clic

rning we reiterate our preference for Nordic ee wan here for report) with more market exposed revenues and reiterate our Buy ratings on Danske Bank, Nordea, DNB and SEB ahead of Qi results. We expect to see good fee /trading income in Q1 on the back of strong AUM and continued high activity levels. The