Epstein Secrets

egura-Cayuela Europe Economist Mark Capleton Rates Strategist MLI Athanaslos Vamvakklls FX Strategist Sphia Salim Rates Strategist MLI KIK) Kamal Sharma FX Strategist MLI MLI Myria Kyriacou FX Strategist MLI Rualtt Houdhane Rates Strategist Global Emerging Markets David Hauner. CFA EEMEA Cross

ts may explain why Draghi gave up on the currency this week. But something has been lost in the process and the Euro could now appreciate freely if Eurozone data keeps improving. BoJ only dovish major central bank The BoJ left its policy unchanged this week and Governor Kuroda justified the current po

18 variance swap Benjamin Bowler Long SX5E short SPX Dec 18 variance spread Abhinandan Deb Eurostoxx 2y/3y put calendar Abhinandan Deb Short EUR/SEK Kamal Sharma Long USD/CNY call Claudio Piron FX Short GBP/USD Kamal Sharma Long USD/AUD lan Gordon Long RUB/ZAR David Hauner 2s-5s-10s fly Shyam S.Rajan Fixed Inc

10 Global Cross Asset Strategy - Year Ahead | 30 November 2016 Bankof America 2 Merrill Lynch HOUSE_OVERSIGHT_014441 --- PAGE BREAK --- Chart 15: Eurozone PMI's point to solid growth Chart 16: Japanese growth expected to accelerate in 2017 60.0 3.0 58.0 —_.,. = 2.0 Forecasts 56.0 54.0 1.0 52.0 50.0 0.0

d long RUB/ZAR. The former has dropped as the EUR has weakened against the USD. We continue to think that the Swedish economy is more robust than the Eurozone and that the Riksbank will sooner or later have to adjust monetary policy accordingly. We see a lot more room for this pair to move in 2017, particul

ad | 16 November 2016 HOUSE_OVERSIGHT_014735 --- PAGE BREAK --- target. It is possible that Trump’s election could weaken fiscal discipline in the Eurozone over the medium term, but we are more concerned by the non-trivial risk that the ECB may disappoint in the December meeting by either not extending q

S [email protected] [email protected] Mark Cabana, CFA Rohit Garg MLPF&S Merrill Lynch (Singapore) [email protected] [email protected] Kamal Sharma MLI (UK) ksharma32 @baml.com What if populism is too popular? ¢ G10: Short inflation/long duration through US 3-year 0% US inflation floors as stimu