Epstein Secrets

'm at or let me know when is a good time for me to call you. Thanks, Amanda Amanda Ens Director Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated One Bryant Park, 5th Floor, New York, NY 10036 From: jeffrey E. [mailto:[email protected] Sent: Friday, August 05, 2016 11:54 AM To: Ens, Am

andle "The Great Rotation" as US equities continue to look more attractive than Fixed Income? Financials and Healthcare and Technology to outperform Utilities and Staples. USD should also benefit as the US yield curve steepens. There is a chart pack below. What is the Trade? 1. The Tail Hedge: Buy Puts

unting and Finance from the University of New South Wales in Sydney, Australia. Amanda Ens Director Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated EFTA_R1_01556440 EFTA02454603 One Bryant Park, 5th Floor, New York, NY 10036 Phoneme Mobile: The power of global connections" From: jeffrey E

andle 'The Great Rotation" as US equities continue to look more attractive than Fixed Income? Financials and Healthcare and Technology to outperform Utilities and Staples. USD should also benefit as the US yield curve steepens. 2 EFTA_R1_01556441 EFTA02454604 There is a chart pack below. What is the

perspective. Financials are now trading around median relative valuation levels. Healthcare PE relative is at the bottom of the historical range and Utilities relative PE is also close to the prior low hit in 2013. Food & Beverage still commands a large premium and PE- relative is 6-10% above the 2010 / 201

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

ould be able to retain half of the benefit ($8) and the remainder would be passed on to customers or competed away. For instance, a lasting impact to Utilities’ profits is unlikely, as the benefit would be passed on via regulated pricing. Repatriation: Buybacks could boost EPS by 3% Both Trump and the Blue

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

ahead of closing the Rite Aid acquisition Cheap hedge against a bond tantrum Cheap equity upside in a bond / equity melt-up Record outperformance of Utilities vs. Financials + FMS positioning + central bank catalysts = potential for cyclicals / defensives mean reversion SX7E 1M 25d call / SX5E 1M 25d call p

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