Epstein Secrets

e trends, starts others In the three weeks since Donald Trump’s election victory global markets have seen some dr

Global Cross Asset Strategy —- Year Ahead Bankof America The Trump inflection ape ce Investment Strategy 30 November 2016 Corrected Key takeaways ee « Market response to Trump is logical but moves have been frontlo

am Page for Full List of Contributors 10Y real rates. CNH a hedge vs trade risk. Trump extends some trends, starts others In the three weeks since Donald Trump’s election victory global markets have seen some dramatic moves. Som1e of those moves are extending trends that had already started — higher yields, hi

e. That is particularly the case if the Fed under President Trump is made more hawkish as our economists think it p

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

d’s tightening cycles. 6. Buy USD call/CNH put — President Trump will need a weak USD, but President Xi needs a we

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

east, in our own political backyard, we witnessed Donald Trump’s victory in the U.S. presidential election last mo

ing the World Series for the first time since 1908! All unlikely. But they happened. Last but not least, in our own political backyard, we witnessed Donald Trump’s victory in the U.S. presidential election last month. Also unlikely. We all know markets do not like uncertainty. However, sentiment can shift quickl

n our own political backyard, we witnessed Donald Trump’s victory in the U.S. presidential election last

at the high end is possible. Improving profits and growth should take equities higher For now, a base case utilizing the five factor framework from BofA Merrill Lynch Global Research, which combines sentiment, valuation and technical, equates to 2300 for the S&P 500 at year end. The two components that include long-term v

reform OK, maybe it’s not as inevitable as death and taxes, but some form of corporate tax reform seems likely. It is a stated priority of President Trump and has widespread Congressional support. We here focus on four components that could have big equity implications. We assess the impacts at a market

x reform seems likely. It is a stated priority of President Trump and has widespread Congressional support. We here

he fundamentals of the companies and their own individual circumstances/abjective before making any investment decisions. Source: FactSet, Bloomberg, BofA Merrill Lynch Global research estimates, BofA Merrill Lynch US Equity & US Quant Strategy 20 Equity Strategy Focus Point | 29 January 2017 HOUSE_OVERSIGHT_023088 Bank

ital allocation update, tax reform, rising interest rates. Latest report: MCO rally has just begun; beneficiaries of the non-Health Care upside from Trump 1Q risks: Risks to the downside are courts not approving the HUM acquisition, lower- than-expected membership growth and higher than expected cost t

retransmitted or disclosed, in whole simultaneously to interna review of this research report consti (including any investmen Materials prepared by BofA Merrill Lynch Global Rese utes your agree information known to, professionals in other business areas of BofA Merri BofA researc hould erri Research and certain busin