Epstein Secrets

Settlements BLS: Bureau of Labor Statistics BOE: Bank of England BOJ: Bank of Japan CAGR: compound annual growth

hs Global Investment Janet Yellen, exchange with Research, December 8, 2016. ABC News reporter Rebecca pa

and the resulting consensus view that the UK was destined for recession. Although the 20% decline in the trade-weighted sterling and rapid easing by the Bank of England were no doubt pivotal in avoiding that fate, the immediate impact of the Brexit referendum has been far less destructive than feared. But as we begi

Accountability & Reflection As the Governor of the Bank of England Mark Carney said in 2015, the “crisis and its af

QUAPTER 2017 es |G Ma | otic Director of Equity Research 212.549.5232 [email protected] traded corporatio

ation. Fac pa | ities. None of MLPF&S, any of i Research policy prohibits rese containing such rating, rec

& Source: Bloomberg Source: Bloomberg The other fixed income trade we continue to like is short 5Y UK real rates. The market continues to discount the Bank of England consistently overshooting its inflation target without a response on monetary policy. Yet Governor Carney and other members of the BOE’s MPC have sai