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l Mercado De Valores; Merrill Lynch (Brazil): Bank of America Merr This research report: has been approved for publication and is distributed in the United FCA and the PRA) by MLI (UK) and Bank of America Merrill Lynch International Limited, retail clients (as defined in the rules of the FCA and the PRA}
Page: HOUSE_OVERSIGHT_014785 →d and issued by Merrill Lynch (DIFC) are done so in accordance with the requirements of the DFSA conduct of business ed (ABN 65 006 276 795), AFS of BANA Australia, neither MLEA nor responsibility for research reports of its non-US affiliates distributed to MLPF&S clients in the US. Any US person receiving this
Page: HOUSE_OVERSIGHT_014785 →investors. Such financial instruments may expire worthless. Before investing in futures or options, clients must receive the appropriate risk Bankof America Merrill Lynch Global Rates, FX & EM 2017 Year Ahead | 16 November 2016 55 HOUS E_OVERSIGHT_014785 --- PAGE BREAK --- disclosure documents. Invest
Page: HOUSE_OVERSIGHT_014786 →Investment Strategy
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 →ectively). MLIBLMB and Merrill Lynch (Singapore} are regulated by MAS. Bank of America N.A, Australian Branch (ARBN 064 874 531), AFS License 412901 (BANA Australia) and Merrill Lynch Equities (Australia) Limited (ABN 65 006 276 795), AFS License 235132 (MLEA) distribute this report in Australia only to ‘Wholesal
Page: HOUSE_OVERSIGHT_014408 →d 11 comparable episodes since 1980. Equity market returns subsequent to the peak rate of change in bunds were moderately positive — a median Bankof America Merrill Lynch European Equity Strategy |O1 December 2016 17 HOUSE_OVERSIGHT_014476 --- PAGE BREAK --- +1.0% after 3 months and +3.7% after 6 month
Page: HOUSE_OVERSIGHT_014477 →ectively). MLIBLMB and Merrill Lynch (Singapore} are regulated by MAS. Bank of America N.A, Australian Branch (ARBN 064 874 531), AFS License 412901 (BANA Australia) and Merrill Lynch Equities (Australia) Limited (ABN 65 006 276 795), AFS License 235132 (MLEA) distribute this report in Australia only to ‘Wholesal
Page: HOUSE_OVERSIGHT_014496 →g and BofA Merrill Lynch Global Research estimates Gov't Legislation: 56% of sales are from the US government General Dynamics’ primary customer is the US Department of Defense, which accounted for 47% of total sales in 2015. The remaining 9% are to other non-DoD US government agencies like the intellig
Page: HOUSE_OVERSIGHT_014626 →ectively). MLIBLMB and Merrill Lynch (Singapore} are regulated by MAS. Bank of America N.A, Australian Branch (ARBN 064 874 531), AFS License 412901 (BANA Australia) and Merrill Lynch Equities (Australia) Limited (ABN 65 006 276 795), AFS License 235132 (MLEA) distribute this report in Australia only to ‘Wholesal
Page: HOUSE_OVERSIGHT_014650 →Earnings Preview
Jan-17 Feb-17Mar-17 eeeeEUrO =———GBP ——Yen =— Other Source: Bloomberg; Other Includes the following *Asian (KRW, AUD, HKD), Europe (RUB, SEK, CHF), Americas (BRL, MXN, CAD) , as of 4/4/2017 BankofAmerica <2 ; ; Merrill Lynch Internet/e-Commerce | 06 April 2017 7 HOUSE_OVERSIGHT_014893 --- PAGE BREAK --
Page: HOUSE_OVERSIGHT_014893 →ectively). MLIBLMB and Merrill Lynch (Singapore} are regulated by MAS. Bank of America N.A, Australian Branch (ARBN 064 874 531), AFS License 412901 (BANA Australia) and Merrill Lynch Equities (Australia) Limited (ABN 65 006 276 795), AFS License 235132 (MLEA) distribute this report in Australia only to ‘Wholesal
Page: HOUSE_OVERSIGHT_014949 →Entities connected to both United States and BANA Australia

Marc Rich
PERSON
Donald Trump
PERSON
Bill Clinton
PERSON
Barack Obama
PERSON
United Kingdom
LOCATION
Bloomberg L.P.
ORGANIZATION
Paul Ryan
PERSON
U.S. Treasury
ORGANIZATION
North America
LOCATION
Frankfurt
LOCATION
Columbia University
LOCATION
Tokyo
LOCATION
Bahrain
LOCATION
Norway
LOCATION
Bank of America
ORGANIZATION
Angela Merkel
PERSON
Malaysia
LOCATION
Michael Bloomberg
PERSON
Mobile
LOCATION
Hungary
LOCATION