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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
Page: HOUSE_OVERSIGHT_011281 →de up to 114.9% HOUSE_OVERSIGHT_011280 --- PAGE BREAK --- Regards, Amanda Amanda Ens Director | Global Equities Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated One Bryant Park | 5th Floor | New York, NY 10036 Phone: Mobil: iii From: Ens, Amanda Sent: Tuesday, November 22, 2016 2:15 PM To: ‘jeffrey E.'; Ri
Page: HOUSE_OVERSIGHT_011281 →036 HOUSE_OVERSIGHT_016801 --- PAGE BREAK --- view, the market’s expectation for looser monetary policy together with recent comments by President Trump implying a desire for a weaker greenback have been tailwinds. In addition to these drivers, we view gold as an appealing diversifier in light of elev
Page: HOUSE_OVERSIGHT_016802 →monetary policy together with recent comments by President Trump implying a desire for a weaker greenback have bee
Page: HOUSE_OVERSIGHT_016802 →sors do not provide legal, tax, or accounting advice. Clients should consult their legal and/or tax advisors before making any financial decisions. Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as “MLPF&S” or “Merrill”) makes available certain investment products sponsored, managed, distributed or provided by companies that
Page: HOUSE_OVERSIGHT_016803 →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
Page: HOUSE_OVERSIGHT_011278 →ow, biggest bond outflow in 3.5 yrs, record EM debt outflow. Regards, Amanda Amanda Ens Director | Global Equities Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated One . Park | 5th Floor | New York, NY 10036 Phone: Mobile: This message, and any attachments, is for the intended recipient(s) only, may contain in
Page: HOUSE_OVERSIGHT_011279 →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
Page: HOUSE_OVERSIGHT_012045 →ow, biggest bond outflow in 3.5 yrs, record EM debt outflow. Regards, Amanda Amanda Ens Director | Global Equities Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated One Bryant Park | 5th Floor | New York, NY 10036 Phone: i Mob aay This message, and any attachments, is for the intended recipient(s) only, may cont
Page: HOUSE_OVERSIGHT_012046 →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
Page: HOUSE_OVERSIGHT_014397 →: Bloomberg L7-Hov-2016 14210730 HOUSE_OVERSIGHT_014398 --- PAGE BREAK --- Amanda Ens Director | Global Equities Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated Japan Investment Strategy Nikkei to 20,000: Inventory cycle upturn — cyclicals; inflation — banks, insurance Investment Strategy 18 November 2016
Page: HOUSE_OVERSIGHT_014399 →Entities connected to both Donald Trump and Merrill Lynch, Pierce, Fenner & Smith Incorporated

Jeffrey Epstein
PERSON
Marc Rich
PERSON
Richard Kahn
PERSON
Ronald Reagan
PERSONAmanda
PERSONPierce, Fenner & Smith Incorporated
ORGANIZATION
Bank of America Corporation
ORGANIZATION
Merrill Lynch
ORGANIZATION
Michael Hartnett
PERSONAmanda Ens
PERSONErika Najarian
PERSON
Nigel Tupper
PERSONFuture of Financials
ORGANIZATION
Global Equities
ORGANIZATION
Kensho Technologies
ORGANIZATION
Global Positioning
ORGANIZATION