Epstein Secrets

d to soar to record highs in 2016, but President Donald Trump's lack of spending proved those early prognosticat

former Chairman Tom Wheeler (and Democratic majority) was not particularly friendly towards local broadcasters (i.e., JSA rules change). However, Trump's election (and Republican majority) has certainly turned the tide. Wheeler is out, replaced by Republican Ajit Pai. With a 3-2 Republican edge at

d to soar to record highs in 2016, but President Donald Trump's lack of spending proved those early prog

ar to record highs in 2016, but President Donald Trump's lack of spending proved those early prognosticat

3 January 2018 HY Corporate Credit HY Multi Sector,Media, Cable & Satellite • Political: Political ad spending was supposed to soar to record highs in 2016, but President Donald Trump's lack of spe

es, roads and transportation - had a disappointing year in 2017. Coming into 2017, expectations were running high that the newly-elected President Trump could drive through an infrastructure stimulus, but this was not the case. According to the construction-put-in-place series, YTD infrastructure sp

ctations were running high that the newly-elected President Trump could drive through an infrastructure stimulus,

3 January 2018 HY Corporate Credit HY Multi Sector.Media, Cable & Satellite and framing (including roofing costs) were the top two cost line-items at about 22% and 15%, respectively, of the overall

construction employment was 6.955mn, 10% below the prior cycle peak of 7.725mn in 2006. Availability of labor remains a constraint, and should the Trump administration succeed in pushing through its long-awaited infrastructure initiative(s), this could further sap available labor from the market and

3 January 2018 HY Corporate Credit HY Multi Sector,Media, Cable & Satellite iFigure 14: Sales Distribution by ASP Existing Home Sates Sales Distribution (Oct 2017) New Home Sales 6750-1M 2% 6600

ica (OPI 44 3.7x 3/31/17 Seminole Hard Rock' Trump Taj Mahal 65x 6.6x 3/13/17 Casino Queen Lady

3Janualy 2018 HY Corporate Credit HY Multi Sector.Media. Cable & Satellite We believe that other targets of consolidation could include CityCenter, Sands Bethlehem, The Cosmopolitan of Las Vegas, R

itizens, which comprise a large portion of regional gaming revenue. A Closer Look to Tax Reform. We believe that the implementation of President's Trump tax reform will be a positive catalyst for gaming industry GGR in 2018, as it will benefit casino patrons and thus the operators. For your convenie

3 January 2018 HY Corporate Credit HY Multi Sector.Media. Cable & Satellite Excluding the impact from jurisdictions with new supply (Kansas, Maryland and New York) GGR has been largely flat, as the