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uct Authority (FCA) and the Prudential Regulation Authority PRA); Merrill Lynch (Australia): Merrill Lynch Equities (Australia) Limited, regulated by the Australian Securities and Investments Commission; Merrill Lynch (Hong Kong): Merrill Lynch (Asia Pacific) Limited, regulated by the Hong Kong Securities and Futures Commission (HKSFC); Merrill Lynch
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 →uct Authority (FCA) and the Prudential Regulation Authority PRA); Merrill Lynch (Australia): Merrill Lynch Equities (Australia) Limited, regulated by the Australian Securities and Investments Commission; Merrill Lynch (Hong Kong): Merrill Lynch (Asia Pacific) Limited, regulated by the Hong Kong Securities and Futures Commission (HKSFC); Merrill Lynch
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 →uct Authority (FCA) and the Prudential Regulation Authority PRA); Merrill Lynch (Australia): Merrill Lynch Equities (Australia) Limited, regulated by the Australian Securities and Investments Commission; Merrill Lynch (Hong Kong): Merrill Lynch (Asia Pacific) Limited, regulated by the Hong Kong Securities and Futures Commission (HKSFC); Merrill Lynch
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 →uct Authority (FCA) and the Prudential Regulation Authority PRA); Merrill Lynch (Australia): Merrill Lynch Equities (Australia) Limited, regulated by the Australian Securities and Investments Commission; Merrill Lynch (Hong Kong): Merrill Lynch (Asia Pacific) Limited, regulated by the Hong Kong Securities and Futures Commission (HKSFC); Merrill Lynch
Page: HOUSE_OVERSIGHT_014457 →Entities connected to both Shusuke Yamada and the Australian Securities and Investments Commission

United Kingdom
LOCATIONthe Capital Market Authority
ORGANIZATION
Merrill Lynch
ORGANIZATION
Merrill Lynch Global Wealth Management
ORGANIZATION
Bank of America
ORGANIZATIONMerchant Bank
ORGANIZATION
Donald Trump
PERSON
Michael Bloomberg
PERSONMerrill Lynch Canada Inc
ORGANIZATION
Frankfurt
LOCATION
the Financial Services Agency
ORGANIZATION
Bank of America Corporation
ORGANIZATIONThe Financial Service Board
ORGANIZATIONMerrill Lynch International Bank Limited
ORGANIZATIONthe Investment Industry Regulatory Organization of Canada
ORGANIZATIONthe Securities and Futures Bureau
ORGANIZATIONILynch
ORGANIZATIONthe Financial Supervisory Service
ORGANIZATION
Bank of America, N.A.
ORGANIZATIONMerrill Lynch (Asia Pacific) Limited
ORGANIZATION