Epstein Secrets

ide given the aforementioned points. That said, given the velocity and magnitude of the recent move and uncertainty around the impact and timing of Trump's policies, we believe options offer better risk-reward than being outright long financials stocks here. With flat call skew, "appearing" call sprea

and uncertainty around the impact and timing of Trump's policies, we believe options offer better risk-re

Kensho Technologies The Flow Show <http://rsch.baml.com/r?q=lOkdhk4kaufvRbmcQWmwEQ&e=dg.americas_equity_derivatives_sales%40baml.com&h=jy UCXg> , Michael Hartnett, 11/18. Violent rotation: record equity ETF inflow, record financials inflow, biggest bond outflow in 3.5 yrs, record EM debt outflow. Regards, Am

y Brett Klein, Head of U.S. Corporate Credit, and Donald Young, Senior Portfolio Manager, Institutional Cr

ng Director Portfolio Management Global Corporate Credit Research Trading Asian Research & Trading 3 Professionals U.S. Research U.S. Trading Michael Barnett Neal Goldman Jason Abbruzzese Jonathan Abramson Managing Director. Special Situations Managing Director, Restructuring Retail U.S. Loans Glob

ide given the =forementioned points. That said, given the velocity and magnitude of=the recent move and uncertainty around the impact and timing of Trump =80 s policies, we believe options offer better risk-reward than being outright long finan=ials stocks here. With flat call skew, "appearing" call s

01 EFTA02666851 The Flow Show <http://rsch.ba=l.com/r?q=lOkdhk4kaufvRbmcQWmwEQ&e=dg.americas_equity_derivatives_=alescre,40baml.com&h=jy UCXg> , Michael Hartnett, 11/18= Violent rotation: record equity ETF inflow, record financials inflow, biggest bond outflow in 3.5 yrs, record EM debt =utflow. Regards,=/u>

in very complicated motion. Stanford University's Donald Ornstein won a Field’s Medal (the under forty yea

for the experience of Las Vegas unfiltered. | was expertly mentored in these quests by a distinguished collection of guides: Cultural anthropologist Michael Harner who taught me about the yage and datura use among the shaman of the Jivaro; Social anthropologist, Barbara Meyerhoff introduced me to the personal re

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

election day). Peak liquidity, deflation, Inequality and globalisation —- watch for Peak Trump So what does a Trump presidency mean for the world? Michael Hartnett, our Chief Investment Strategist sums it up nicely with four of his seven peaks. Peak liquidity — the era of excess liquidity is over; Peak inequalit

ls means banks and insurance should outperform REITs within the financial sector (Chart 3). This is also in line with the global rotation expected by Michael Hartnett (The Flow Show: The Inflation Era Begins 10 November 2016). 3) Nikkei winner of steeper UST and strong macro In a scenario of strong external deman

ics, diplomacy and US economic cycle The biggest risk to our scenario is the implications for Japan’s diplomatic and geopolitical environment of the Donald Trump presidency in the US. The likelihood of agreement on the TPP (Trans-Pacific Partnership) has already declined and been priced into the market, but an

ser to Europe under such a scenario, raising the incentive to sign the Japan-EU EPA (Economic Partner Agreement), positive for related stocks. If the Trump presidency tips the US towards isolationism, we expect Japan’s spending on defense to increase. If this results in higher spending on Japan’s Self De

side given the aforementioned points. That said, given the velocity and magnitude of the recent move and uncertainty around the impact and timing of Trump’s policies, we believe options offer better risk-reward than being outright long financials stocks here. With flat call skew, “appearing” call spread

des Gaining Momentum: Finance-Related Assets vs. S&P 500 Oiversiied Financtsts Barks Prranciats S&P 500 Source: Kensho Technologies The Flow Show, Michael Hartnett, 11/18. Violent rotation: record equity ETF inflow, record financials inflow, biggest bond outflow in 3.5 yrs, record EM debt outflow. Regards, Aman

side given the aforementioned points. That said, given the velocity and magnitude of the recent move and uncertainty around the impact and timing of Trump’s policies, we believe options offer better risk-reward than being outright long financials stocks here. With flat call skew, “appearing” call spread

Trades Gaining Momentum: Finance-Related Assets vs. S&P 500 Civersiied Finances Bons Prnenciats S&P SOO Source: Kensho Technologies The Flow Show, Michael Hartnett, 11/18. Violent rotation: record equity ETF inflow, record financials inflow, biggest bond outflow in 3.5 yrs, record EM debt outflow. Regards, Aman

side given the aforementioned points. That said, given the velocity and magnitude of the recent move and uncertainty around the impact and timing of Trump’s policies, we believe options offer better risk-reward than being outright long financials stocks here. With flat call skew, “appearing” call spread

es Gaining Momentum: Finance-Related Assets vs. S&P 500 Oiversiied Financtsts Bornes Prrenciats S&P SOO Source: Kensho Technologies The Flow Show, Michael Hartnett, 11/18. Violent rotation: record equity ETF inflow, record financials inflow, biggest bond outflow in 3.5 yrs, record EM debt outflow. Regards, Aman

see USDJPY reaching 120 next year and Japanese reflation, bullish for Japanese equities, particularly the banks. Huge focus on Banks/Financials post Trump election, they're the big winners. The Banking sector is the main beneficiary of higher rates/less regulation overhang. Investors are still underwe

ls means banks and insurance should outperform REITs within the financial sector (Chart 3). This is also in line with the global rotation expected by Michael Hartnett (The Flow Show: The Inflation Era Begins 10 November 2016). 3) Nikkei winner of steeper UST and strong macro In a scenario of strong external deman