Epstein Secrets

ffect on MXN We provide an empirical analysis of Donald Trump’s effects on the Mexican peso. Our analysis suggest

ll Ly nks to tl such with hird- hird-party websi BofA Merrill Lyne es is not part of this report and is not incorpo

Unauthorized redistribution of this report is prohibited. This report is intended for [email protected] Liquid Insight Trump’s effect on MXN Key takeaways ¢ We provide an empirical analysis of Donald Trump's potential effects on the Mexican peso ¢ Our analysis suggests t

ohibited. This report is intended for [email protected] Liquid Insight Trump’s effect on MXN Key takeaways ¢ We provide an empirical analysis of Donald Trump's potential effects on the Mexican peso ¢ Our analysis suggests the exchange rate is perhaps as much as 15% undervalued « We remain neutral for now g

ed on such third-party websi any affiliation with BofA Merrill Lyne submitting any personal in os é) a recent rese

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

tions are not ap disclosure documents. Investmen BofA Merrill Lyne action may be limited by regulations p executing

s Japanese real interest rates can actually fall. Watch Abe-Trump meeting - coordination or conflict? Given the high uncertainty, clarifications on Trump’s policies on trade and currency will be important for the Japanese market going forward. A potential Abe-Trump meeting in New York this Thursday (17

ntion) may still find that option markets are currently pricing too little of a move. However, as we have recently argued the debate about whether a Trump win would be good or bad for markets coupled with the inability to exactly pinpoint real risks are likely headwinds to a sizeable market shock. 8 Gl

tended to express any legal conclusion, opinion or advice. Investors egal advisers as to issues of law relating to the subject matter of this report. BofA Merrill Lynch Glo , BofA ity and/or its directors, officers and employees may be § and views presented in this material that rela her than disclosure information re