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a Limited. As usedin this disclosure section, "Morgan Stanley’ includes Morgan Stanley &Co. LLC, Morgan Stanley C.T.V.M. S.A., Morgan Stanley Mexico, Casa de Bolsa, S.A. de C:V., Morgan Stanley Canada Limited and their affiliates as necessary. For important disclosures, stock price charts and equity rating hist
Page: HOUSE_OVERSIGHT_025583 →2495; Hong Kong +852 2848-5999; Latin America +1 718 754-5444 (U.S.); London +44 (0)20-7425-8169; Singapore +65 6834-6860; Sydney +61 (0)2-9770-1505; Tokyo +81 (0)3-6836-9000. Alternatively you may contact your investment representative or Morgan Stanley Research at 1585 Broadway, (Attention: Research Ma
Page: HOUSE_OVERSIGHT_025583 →d opinions in Morgan Stanley Research were prepared by Morgan Stanley & Co. LLC. and/or Morgan Stanley MIR S.A.. C M and/or Morgan Stanley Mexico. Casa de Bolsa. S.A. de V.. ' gan Stanley Canada Limited. used in this disclosure sec ion, Morgan Stanley includes Morgan Stanley & Co. LLC, Morgan Stanley S.
2495; Hong Kong +852 2848-5989: Latin America +1 718 754-5444 (U.S.); London +44 (0)20-7425-8169: Singapore +65 68346860: Sydney +61 (0)2.9770-1505; Tokyo +81 (0)16836.9000. Alternatively you may contact your investment representative or Morgan Stanley Research at 1585 Broadway. (Attention: Research Ma
Nov 30 (to be extended) Extraordinary Diet session (supplementary budget, TPP, tax-hike delay, casino bill) Nov 15 Japan-Russia trade officials meet (Tokyo) Nov 17 Abe, Trump meet in New York Nov 19-20 Abe, Putin meet at APEC (progress on territorial issue a key public concern) Dec 8 Jul-Sep GDP 2nd prel
Page: HOUSE_OVERSIGHT_014420 →liate Research Reports: LPF&S distributes, or may in South Africa ( PRA}; Merrill Lynch (Aus Pacific) Limited, regulate Singapore (MAS); Merrill CV, Casa de Bolsa, regulated by japan}: Merrill Lynch Japan Sec Financial Supervisory Service; regulated by the Securities and srael Limited, regulated by Isra DIFC):
Page: HOUSE_OVERSIGHT_014422 →exposure to unhedged foreign bonds though they generally remain price sensitive. In our view, this is reflected in the USD/JPY’s consolidation during Tokyo trading hours after the pair hit 100 on the Brexit vote (Chart 4). The fact that USD/JPY has failed to break 100 multiple times since then suggests t
Page: HOUSE_OVERSIGHT_014425 →ill Lynch Canada Inc, regulated by the Investment Industry Regulatory Organization of Canada; Merrill Lynch (Mexico): Merrill Lynch Mexico, SA de CV, Casa de Bolsa, regulated by the Comisidn Nacional Bancaria y de Valores; Merrill Lynch (Argentina): Merrill Lynch Argentina SA, regulated by Comisién Nacional de V
Page: HOUSE_OVERSIGHT_014429 →Y reached 100 on the Brexit vote as we argued in $/¥’s eventual surge: Buy Nikkei O06 September 2016. In fact, the USD/JPY has stopped falling during Tokyo trading hours since the summer. Based on the decline of foreign yields and higher hedge costs, hedged US Treasuries and German bunds had lost nearly
Page: HOUSE_OVERSIGHT_014748 →ill Lynch Canada Inc, regulated by the Investment Industry Regulatory Organization of Canada; Merrill Lynch (Mexico): Merrill Lynch Mexico, SA de CV, Casa de Bolsa, regulated by the Comisidn Nacional Bancaria y de Valores; Merrill Lynch (Argentina): Merrill Lynch Argentina SA, regulated by Comisién Nacional de V
Page: HOUSE_OVERSIGHT_014785 →Entities connected to both Casa de Bolsa and Tokyo

United States
LOCATION
Frankfurt
LOCATION
Marc Rich
PERSON
Barack Obama
PERSON
Donald Trump
PERSON
Bloomberg L.P.
ORGANIZATION
United Kingdom
LOCATION
Bill Clinton
PERSON
Paul Ryan
PERSON
Seoul
LOCATION
Kowloon
LOCATIONDoug Band
PERSON
Philippines
LOCATION
Malaysia
LOCATION
Hong Kong
LOCATION
North America
LOCATION
U.S. Treasury
ORGANIZATION
Columbia University
LOCATIONBaFin
ORGANIZATION
Hungary
LOCATION