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nch Global Research policies relating to conflicts of interest are described at http://go.bofa.com/coi. "BofA Merrill Lynch" includes Merrill Lynch, Pierce, Fenner & Smith Incorporated (‘MLPF&S’) and its affiliates. Investors should contact their BofA Merrill Lynch representative or Merrill Lynch Global Wealth Management financial a
Page: HOUSE_OVERSIGHT_010614 →errill Lynch (Japan) +81 3 6225 7747 [email protected] Yang Chen Rates Strategist Merrill Lynch (Hong Kong) +852 3508 8695 [email protected] Shusuke Yamada, CFA FX Strategist Merrill Lynch (Japan) +813 6225 8515 [email protected] Global Emerging Markets Claudio Irigoyen LatAm FI/FX Strategy/Ec
Page: HOUSE_OVERSIGHT_010616 →Investment Strategy
losures on page 5 to 6. 11687576 Timestamp: 17 November 2016 03:30PM EST Bankof America Merrill Lynch 18 November 2016 Investment Strategy Japan Shusuke Yamada, CFA >> FX/Equity Strategist Merrill Lynch (apan) +81 3 6225 8515 [email protected] Exhibit 1: Sector rotation and inventory cycle Slowdown
Page: HOUSE_OVERSIGHT_014404 →ynch Global Research policies relating to conflicts of interest are described at http://go.bofa.com/coi. "BofA Merrill Lynch" includes Merrill Lynch, Pierce, Fenner & Smith Incorporated ("MLPF&S’) and its affiliates. Investors should contact their BofA Merrill Lynch representative or Merrill Lynch Global Wealth Management financial a
Page: HOUSE_OVERSIGHT_014408 →losures on page 6 to 8. 11686246 Timestamp: 13 November 2016 06:10PM EST Bankof America Merrill Lynch 14 November 2016 Investment Strategy Japan Shusuke Yamada, CFA >> FX/Equity Strategist Merrill Lynch (iapan) #8] 3 6225 8515 [email protected] Paul Ciana, CMT Technical Strategist MLPF&S +1 646 855
Page: HOUSE_OVERSIGHT_014424 →nch Global Research policies relating to conflicts of interest are described at http://go.bofa.com/coi. "BofA Merrill Lynch" includes Merrill Lynch, Pierce, Fenner & Smith Incorporated (‘MLPF&S’) and its affiliates. Investors should contact their BofA Merrill Lynch representative or Merrill Lynch Global Wealth Management financial a
Page: HOUSE_OVERSIGHT_014429 →Investment Strategy
OW JP Equities, Ihs JP Performance vs World, rhs Source: BofA Merrill Lynch Global Fund Manager Survey 2016 Our Japanese equity and FX strategist Shusuke Yamada has been arguing for a while that we would see both a weaker JPY and a rebound in Japanese equities. While arguably the JPY had turned beforehand, th
Page: HOUSE_OVERSIGHT_014447 →nch Global Research policies relating to conflicts of interest are described at http://go.bofa.com/coi. "BofA Merrill Lynch" includes Merrill Lynch, Pierce, Fenner & Smith Incorporated (‘MLPF&S’) and its affiliates. Investors should contact their BofA Merrill Lynch representative or Merrill Lynch Global Wealth Management financial a
Page: HOUSE_OVERSIGHT_014457 →K --- Best Relative Value Trades Athanasios Vamvakidis Erjon Satko MLI (UK) MLI (UK) [email protected] [email protected] Arko Sen Shusuke Yamada, CFA >> MLI (UK) Merrill Lynch (Japan) [email protected] [email protected] Relative value in a macro world « Long EUR/JPY: data and positionin
Page: HOUSE_OVERSIGHT_014748 →ynch Global Research policies relating to conflicts of interest are described at http://go.bofa.com/coi. "BofA Merrill Lynch" includes Merrill Lynch, Pierce, Fenner & Smith Incorporated ("MLPF&S’) and its affiliates. Investors should contact their BofA Merrill Lynch representative or Merrill Lynch Global Wealth Management financial a
Page: HOUSE_OVERSIGHT_014785 →Entities connected to both Shusuke Yamada and Pierce, Fenner & Smith Incorporated

Bank of America Corporation
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Merrill Lynch
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Donald Trump
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Bank of America
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