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anger for risk parity funds as bond/equity correlation swings positive. 4 EFTA_R1_00106915 EFTA01785103 Greg Kaldor Managing Director US MEGA (Macro Equity & Global Alpha) Bank of America Merrill Lynch This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged
bank shares to rise. If the BoJ does move to make policy more flexible, we think the focus will be on JGBs, rather than on negative interest rates. Chart Pack: 3 EFTA_R1_00106914 EFTA01785102 Nasdaq Bio Tech Index: Buy Calls on Bio-Tech US Investment Grade ETF, (LQD in white) and (Shares Outstanding i
54284 =p class="MsoNormal">Greg Kaldor=span style="font-size:10.0pt;font-family:"Verdana","sans-=erif";color:#948671"> Managing Director Us MEGA (Macro Equity & Global Alpha) Bank of America Merrill L nch T+ B/Berry This message, and any attachments, is for the intended rec=pient(s) only, may contain information that
bank shares to rise. If the BoJ does move to mak= policy more flexible, we think the focus will be on JGBs, rather than on =egative interest rates. Chart Pack: Nasdaq Bio Tech Index: Buy Calls on Bio-Tech=b> In JGB Futures, 150.60 is an impor=ant level for all global fixed income. <=span> Regional Bank
ty Custom Basket" This chart is a danger for risk parity funds as bond/equity correlation swings positive. Greg Kaldor Managing Director US MEGA (Macro Equity & Global Alpha) Bank of America Merrill Lynch This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged
bank shares to rise. If the Sal does move to make policy more flexible, we think the focus will be on JGBs, rather than on negative interest rates. Chart Pack: Nasdaq Bio Tech Index: Buy Calls on Bio-Tech US Investment Grade ETF, (LQD in white) and (Shares Outstanding in Green). Buy Puts on IG Credit. In
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