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Australian Securities and Investments Commission; Merrill Lynch Pacific) Limited, regulated by the Hong Kong Securities and Future
thority (Hong Kong): Merrill Lynch (Asia lated by the Monetary Authority of Israel}: Merrill Lynch Lynch lidrios; Merrill Lyn
seems to be the only one in the region that is expected to display a much lower sensitivity to US rates, outperforming others within Asia. We expect the Monetary Authority of Singapore to keep the SGD NEER in the weaker side of the band for the next few months, which reduces the downside risk for the trade (Chart 69). We like the IN
Page: HOUSE_OVERSIGHT_014770 →nvestments Commission; Merrill Lynch (Hong Kong): Merrill Lynch (Asia Pacific) Limited, regulated by the Hong Kong Securities and Future
: Merrill Lynch (Singapore) Pte Ltd, regulated by the Monetary Authority of Singapore (MAS); Merrill Lynch (Canada): Merrill Lynch Cana
Investment Strategy
nvestments Commission; Merrill Lynch (Hong Kong): Merrill Lynch (Asia Pacific) Limited, regulated by the Hong Kong Securities and Future
: Merrill Lynch (Singapore) Pte Ltd, regulated by the Monetary Authority of Singapore (MAS): Merrill Lynch (Canada): Merrill Lynch Cana
Quantitative Analysis
nvestments Commission; Merrill Lynch (Hong Kong): Merrill Lynch (Asia Pacific) Limited, regulated by the Hong Kong Securities and Future
: Merrill Lynch (Singapore) Pte Ltd, regulated by the Monetary Authority of Singapore (MAS); Merrill Lynch (Canada): Merrill Lynch Cana
nvestments Commission; Merrill Lynch (Hong Kong): Merrill Lynch (Asia Pacific) Limited, regulated by the Hong Kong Securities and Future
: Merrill Lynch (Singapore) Pte Ltd, regulated by the Monetary Authority of Singapore (MAS); Merrill Lynch (Canada): Merrill Lynch Cana
nvestments Commission; Merrill Lynch (Hong Kong): Merrill Lynch (Asia Pacific) Limited, regulated by the Hong Kong Securities and Future
: Merrill Lynch (Singapore) Pte Ltd, regulated by the Monetary Authority of Singapore (MAS); Merrill Lynch (Canada): Merrill Lynch Cana
Earnings Preview
nvestments Commission; Merrill Lynch (Hong Kong): Merrill Lynch (Asia Pacific) Limited, regulated by the Hong Kong Securities and Future
: Merrill Lynch (Singapore) Pte Ltd, regulated by the Monetary Authority of Singapore (MAS); Merrill Lynch (Canada): Merrill Lynch Cana
Investment Strategy
: Merrill Lynch (Singapore) Pte Ltd, regulated by the Monetary Authority of Singapore (MAS); Merrill Lynch (Canada): Merrill Lynch Cana
rity discussed in the report should do so through MLPF&S and not such foreign affiliates. Hong Kong recipients of this research report should contact Merrill Lynch (Asia Pacific) Limited in respect of any matters relating to dealing in securi ies (and not futures contracts) or provision of specific advice on securities (and not futu
Page: HOUSE_OVERSIGHT_014409 →: Merrill Lynch (Singapore) Pte Ltd, regulated by the Monetary Authority of Singapore (MAS); Merrill Lynch (Canada): Merrill Lynch Cana
rity discussed in the report should do so through MLPF&S and not such foreign affiliates. Hong Kong recipients of this research report should contact Merrill Lynch (Asia Pacific) Limited in respect of any matters relating to dealing in securi ies (and not futures contracts} or provision of speci ic advice on securities (and not fu
Page: HOUSE_OVERSIGHT_014430 →Entities connected to both Merrill Lynch (Asia Pacific) Limited and The Monetary Authority of Singapore

Michael Bloomberg
PERSON
Donald Trump
PERSON
United Kingdom
LOCATIONthe Dubai Financial Services Authority
ORGANIZATION
Seoul
LOCATION
Frankfurt
LOCATIONMerchant Bank
ORGANIZATION
Merrill Lynch Global Wealth Management
ORGANIZATIONthe Prudential Regulation Authority
ORGANIZATION
Bank of America
ORGANIZATION
Merrill Lynch
ORGANIZATIONthe Securities and Futures Bureau
ORGANIZATION
the Financial Services Agency
ORGANIZATIONThe Financial Service Board
ORGANIZATIONthe Investment Industry Regulatory Organization of Canada
ORGANIZATIONthe Financial Supervisory Service
ORGANIZATIONPierce, Fenner & Smith Incorporated
ORGANIZATIONMerrill Lynch Canada Inc
ORGANIZATIONMerrill Lynch Argentina SA
ORGANIZATIONMerrill Lynch International Incorporated
ORGANIZATION