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Investment Strategy
ined under the Financial Advisers Regulations) by Merrill Lynch Interna Bank Limited (Merchant Bank} (MLIBLMB} and Merrill
is research report and wishing toe s) or in related investments. errill ated Lynch jonal e US and accepts ful fect any transaction in any Bankof America Merrill Lynch Japan Investment Strategy | 18 November 2016 5 HOUSE_OVERSIGHT_014408 --- PAGE BREAK --- be Bo acti security discussed in the report
Page: HOUSE_OVERSIGHT_014408 →o F&S and not such ributed in the Uni ntern K): Merrill Lynch In d, regulated by the A mmission (HKSFC); ated by t
he SXEP (European Oil & Gas equity), where the 3M 90-100 volatility spread has been trending lower and is currently near-flattest in 5 years. Bankof America Merrill Lynch Global Equity Volatility Insights | 20 June 2017 13 HOUSE_OVERSIGHT_014984 --- PAGE BREAK --- Chart 22: May has typically been the m
Page: HOUSE_OVERSIGHT_014985 →one or more o istributed to F&S and not such K): Merrill Lynch In d, regulated by the A mmission (HKSFC); ated by t
truments, if any, may fluctuate and that price or value of such securities and instruments may rise or fall and, in some cases, investors may Bankof America Merrill Lynch Global Equity Volatility Insights |O6 June 2017 35 HOUSE_OVERSIGHT_023609 --- PAGE BREAK --- lose their entire principal investment.
Page: HOUSE_OVERSIGHT_023610 →Entities connected to both United States and Merrill Lynch Interna

Marc Rich
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Donald Trump
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