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d outflow in 3.5 yrs, record EM debt outflow. Regards, Amanda Amanda Ens Director | Global Equities Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated One Bryant Park | 5th Floor | New York, NY 10036 Phone: Mobile: po This message, and any attachments, is for the intended recipient(s) only, may co
Page: HOUSE_OVERSIGHT_011282 →Trades Gaining Momentum: Finance-Related Assets vs. S&P 500 Civersiied Finances Bons Prnenciats S&P SOO Source: Kensho Technologies The Flow Show, Michael Hartnett, 11/18. Violent rotation: record equity ETF inflow, record financials inflow, biggest bond outflow in 3.5 yrs, record EM debt outflow. Regards, Aman
Page: HOUSE_OVERSIGHT_011282 →you prefer not to receive future emails from updates.ml.com click here Merrill Lynch makes available products and services offered by Merrill Lynch, Pierce, Fenner & Smith Incorporated ("MLPF&S") and other subsidiaries of Bank of America Corporation ("BofA Corp."). The Private Banking and Investment Group is a division of MLPF&S t
ch analysts discuss two impending fiscal priorities in Congress. The collision of these deadlines could likely spark market volatility. Strategist Michael Hartnett also highlights the recent changes in central banks, noting that we're on the cusp of global synchronized monetary tightening. And though economic
3.5 yrs, record EM debt =utflow. Regards,=/u> Amanda</=> Amanda Ens=/b> Director I Global Equities Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated This message, and any attachments, is for the intended recipient(s) onl=, may contain information that is privileged, confidential and/or propriet=
01 EFTA02666851 The Flow Show <http://rsch.ba=l.com/r?q=lOkdhk4kaufvRbmcQWmwEQ&e=dg.americas_equity_derivatives_=alescre,40baml.com&h=jy UCXg> , Michael Hartnett, 11/18= Violent rotation: record equity ETF inflow, record financials inflow, biggest bond outflow in 3.5 yrs, record EM debt =utflow. Regards,=/u>
d outflow in 3.5 yrs, record EM debt outflow. Regards, Amanda Amanda Ens Director Global Equities Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated One Bryant Park I 5th Floor I New York, NY 10036 2 EFTA_R1_01920231 EFTA02668216 <mailto This message, and any attachments, is for the intende
Kensho Technologies The Flow Show <http://rsch.baml.com/r?q=lOkdhk4kaufvRbmcQWmwEQ&e=dg.americas_equity_derivatives_sales%40baml.com&h=jy UCXg> , Michael Hartnett, 11/18. Violent rotation: record equity ETF inflow, record financials inflow, biggest bond outflow in 3.5 yrs, record EM debt outflow. Regards, Am
x (9.9%/1.75%) — you have upside up to 114.9% Regards, Amanda Amanda Ens Director | Global Equities Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated One Bryant Park | 5th Floor | New York, NY 10036 Phone: i Mobile i From: Ens, Amanda Sent: Tuesday, November 22, 2016 2:15 PM To: ‘jeffrey E.'; Ri
Page: HOUSE_OVERSIGHT_011277 →des Gaining Momentum: Finance-Related Assets vs. S&P 500 Oiversiied Financtsts Barks Prranciats S&P 500 Source: Kensho Technologies The Flow Show, Michael Hartnett, 11/18. Violent rotation: record equity ETF inflow, record financials inflow, biggest bond outflow in 3.5 yrs, record EM debt outflow. Regards, Aman
Page: HOUSE_OVERSIGHT_011279 →% Regards, Amanda Amanda Ens Director | Global Equities HOUSE_OVERSIGHT_012044 --- PAGE BREAK --- Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated One Bryant Park | 5th Floor | New York, NY 10036 ho i Fl From: Ens, Amanda Sent: Tuesday, November 22, 2016 2:15 PM To: ‘jeffrey E.'; Rich Kahn S
Page: HOUSE_OVERSIGHT_012045 →es Gaining Momentum: Finance-Related Assets vs. S&P 500 Oiversiied Financtsts Bornes Prrenciats S&P SOO Source: Kensho Technologies The Flow Show, Michael Hartnett, 11/18. Violent rotation: record equity ETF inflow, record financials inflow, biggest bond outflow in 3.5 yrs, record EM debt outflow. Regards, Aman
Page: HOUSE_OVERSIGHT_012046 →Investment Strategy
ls means banks and insurance should outperform REITs within the financial sector (Chart 3). This is also in line with the global rotation expected by Michael Hartnett (The Flow Show: The Inflation Era Begins 10 November 2016). 3) Nikkei winner of steeper UST and strong macro In a scenario of strong external deman
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 →the US election. The insurance sector has been the best performer since the US election on the back of a steeper US Treasury curve and higher rates. Michael Hartnett observes “violent rotation out of deflation to inflation plays”, including a move from REITs to US banks. This should apply to Japan, where banks and
Page: HOUSE_OVERSIGHT_014427 →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
election day). Peak liquidity, deflation, Inequality and globalisation —- watch for Peak Trump So what does a Trump presidency mean for the world? Michael Hartnett, our Chief Investment Strategist sums it up nicely with four of his seven peaks. Peak liquidity — the era of excess liquidity is over; Peak inequalit
Page: HOUSE_OVERSIGHT_014436 →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 →Entities connected to both Pierce, Fenner & Smith Incorporated and Michael Hartnett

Jeffrey Epstein
PERSON
Richard Kahn
PERSONAmanda
PERSONAmanda Ens
PERSON
Marc Rich
PERSON
Bank of America Corporation
ORGANIZATION
Donald Trump
PERSON
Merrill Lynch
ORGANIZATION
Bank of America
ORGANIZATION
Michael Bloomberg
PERSON
BofA Merrill Lynch
ORGANIZATIONMerrill Lynch International Bank Limited
ORGANIZATION
Merrill Lynch Global Wealth Management
ORGANIZATIONMerrill Lynch Canada Inc
ORGANIZATION
United Kingdom
LOCATIONMerchant Bank
ORGANIZATIONMerrill Lynch KSA Company
ORGANIZATION
BANA Australia
ORGANIZATIONthe Central Bank of Ireland
ORGANIZATION
the Financial Services Agency
ORGANIZATION