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interest rate hikes, a much stronger USD, and a trade war with China pose risks. Amanda Ens Director Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated One Bryant Park, 5th Floor, New York, NY 10036 Phone: V obilc: i’ HOUSE_OVERSIGHT_014695 --- PAGE BREAK --- The power of global connections™ Ban
Page: HOUSE_OVERSIGHT_014695 →ut recognizes that if a tax was imposed, it would have profound implications for EM demand and the WTI/Br arb. The appointment of key cabinet members Rex Tillerson, Rick Perry, and Scott Pruitt pose significant implications for the US energy sector. 4 — Commodity Macro — Forward inflation expectations around th
Page: HOUSE_OVERSIGHT_014695 →nterest rate hikes, a much stronger USD, and a trade war with China pose risks. Amanda Ens Director Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated One Bryant Park, 5th Floor, New York, NY 10036 The power of global connections" This message, and any attachments, is for the intended recipient(s
t recognizes that if a tax was imposed, it would have profound implications for EM demand and the WTI/Br arb. The appointment of key cabinet members Rex Tillerson, Rick Perry, and Scott Pruitt pose significant implications for the US energy sector. EFTA_R1_01366292 EFTA02367777 4 — Commodity Macro — Forwar
Other anecdotes ) Regardless of your political preference, he thinks we all need Trump to succeed or the economy will get Bernie Sanders or worse. ) Tillerson vs Kerry — Woo thinks Tillerson is actually working and getting things done, as opposed to Kerry who just cared about the Nobel. 7 Thus sees zero r
Page: HOUSE_OVERSIGHT_014718 →higher yields) offers the best risk- reward after recent moves. Regards, Amanda Amanda Ens Director Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated One Bryant Park, 5th Floor, New York, NY 10036 Phone: ii \Vobilc: HOUSE_OVERSIGHT_014719 --- PAGE BREAK --- Bank of America Merrill Lynch Awards
Page: HOUSE_OVERSIGHT_014719 →Entities connected to both Pierce, Fenner & Smith Incorporated and Rex Tillerson

Jeffrey Epstein
PERSON
Richard Kahn
PERSONAmanda Ens
PERSON
Marc Rich
PERSON
Donald Trump
PERSON
Bloomberg L.P.
ORGANIZATION
Barack Obama
PERSON
George W. Bush
PERSON
Bill Clinton
PERSON
Paul Ryan
PERSON
Michael Bloomberg
PERSON
United Kingdom
LOCATION
Seoul
LOCATION
Hillary Clinton
PERSON
United States
LOCATION
Stephen Hawking
PERSON
Ronald Reagan
PERSON
Justin Trudeau
PERSON
U.S. Treasury
ORGANIZATION
John F. Kennedy
PERSON