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LPF&S [email protected] First came Brexit, then Donald Trump’s election as the president of the most powerful co
17 Short US Sy rates — Two and a half Fed hikes priced by the rates market for 2017- 18 are not consistent with aggressive fiscal easing promised by Trump. Bankof America Merrill Lynch 16 November 2016 Corrected FX and Rates Global 2. Short US 10y real rates — After the violent repricing of inflatio
Page: HOUSE_OVERSIGHT_014731 →d’s tightening cycles. 6. Buy USD call/CNH put — President Trump will need a weak USD, but President Xi needs a we
Page: HOUSE_OVERSIGHT_014731 →16 November 2016 05:30AM EST HOUSE_OVERSIGHT_014731 --- PAGE BREAK --- Introduction David Woo MLPF&S [email protected] First came Brexit, then Donald Trump’s election as the president of the most powerful country in the world. The world has changed. Possibly irrevocably so. These ground shifts have been b
Page: HOUSE_OVERSIGHT_014732 →Price Objective Change
west footprint with its low unemployment and a strong manufacturing base. While commenting on the potential for relief coming out of DC under the new Trump administration, management noted that shortage of skilled workers was probably the biggest issue impeding businesses in its footprint versus higher t
Page: HOUSE_OVERSIGHT_014324 →_OVERSIGHT_014364 --- PAGE BREAK --- proposals. Mr. Trump and congress could also ultimately defer to the S
Page: HOUSE_OVERSIGHT_014365 →es. Hong Kong recipients of this research report should contact Merri of any matters arising fro e US and accepts fu fect any transaction in any | Lynch (Asia Pacific) Limited in ngapore recipients of this research m, or in connection with, this her financial instrument. No part of he press or any other person without the
Page: HOUSE_OVERSIGHT_014395 →scenario for Japan is a combination of rising US protectionism, sliding global trade, and a stronger yen, which could reduce 2017 growth to zero. The Trump presidency may increase pressure on Japan to achieve greater military self-reliance, boosting defense spending. There will also be greater incentives
Page: HOUSE_OVERSIGHT_014410 →mited, errill Lynch I Lyne ated KSA Com h by pany, he K to errill ated I Lynch jonal EA nor A I Lynch siness fect any transaction in any | Lynch (Asia Pacific) Limited in pore recipients of this research her financial instrument. No part of Insurance Corporation and are not volve numerous risks, including, ‘0 obt
Page: HOUSE_OVERSIGHT_014422 →Entities connected to both Donald Trump and Lynch (Asia Pacific) Limited

George W. Bush
PERSON
Barack Obama
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United Kingdom
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Michael Bloomberg
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Frankfurt
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Seoul
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Tokyo
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Bank of America
ORGANIZATIONPierce, Fenner & Smith Incorporated
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Bank of America Corporation
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Merrill Lynch
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Merrill Lynch Global Wealth Management
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Bank of America, N.A.
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Merri
ORGANIZATIONMerrill Lynch International Bank Limited
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