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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
dom of Saudi Arabia Company. regulated by the Capital Market Authority. This research report has been approved for publication and is distributed in the United Kingdom (UK) to professional dients ad eligible counterpaties (as each is defined in the rules of the FCA and the PRA) by MLI (UK) and Bank of America Mernl
dom of Saudi Arabia Company, regulated by the Capital Market Authority. This research report: has been approved for publication and is distributed in the United Kingdom (UK) to professional clients and eligible counterparties (as each is defined in the rules of the FCA and the PRA) by MLI (UK) and Bank of America Mer
Page: HOUSE_OVERSIGHT_010614 →LI (UK) +44 20 7995 6118 [email protected] Athanasios Vamvakidis FX Strategist MLI (UK) +44 20 7995 0790 [email protected] N Kamal Sharma FX Strategist MLI (UK) +44 20 7996 4855 [email protected] Myria Kyriacou FX Strategist MLI (UK) +44 20 7996 1728 [email protected] Rua
Page: HOUSE_OVERSIGHT_010616 →Investment Strategy
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
Page: HOUSE_OVERSIGHT_014433 →dom of Saudi Arabia Company, regulated by the Capital Market Authority. This research report: has been approved for publication and is distributed in the United Kingdom (UK) to professional clients and eligible counterparties (as each is defined in the rules of the FCA and the PRA) by MLI (UK) and Bank of America Mer
Page: HOUSE_OVERSIGHT_014457 →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
Page: HOUSE_OVERSIGHT_014752 →o not apply in ime, hold a trading position (long or short) in the securities and financial instruments discussed in this report. ocated outside of the United Kingdom. BofA Merrill Lynch Global Research policies relating to conflicts of interest are described at http://go.bofa.com/coi. LPF&S or one of its affiliate
Page: HOUSE_OVERSIGHT_014786 →Entities connected to both Kamal Sharma and United Kingdom

Jeffrey Epstein
PERSON
Donald Trump
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Bill Clinton
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Barack Obama
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John F. Kennedy
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Frankfurt
LOCATION
Cyprus
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Luxembourg
LOCATION
Hungary
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Bloomberg L.P.
ORGANIZATION
Malaysia
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Hillary Clinton
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Columbia University
LOCATIONthe Prudential Regulation Authority
ORGANIZATION
Chile
LOCATIONBaFin
ORGANIZATIONthe Australian Securities and Investments Commission
ORGANIZATION
Seoul
LOCATION
Michael Bloomberg
PERSON
Bank of America
ORGANIZATION