Epstein Secrets

aliyah Tower. King Fahad Road. P.O. Box 51907. Riyadh 11553. Kingdom of Saudi Arabia. Dubai: JPMorgan Chase Bank. N.A., Dubai Branch is regulated by the Dubai Financial Services Authority (DFSA) and its registered address is Dubai International Financial Centre - Building 3. Level 7. PO Box 506551, Dubai. UAE. Country and Region Spec

iscal cliff negotiations. • Commodities — A further set of better Chinese economic data keeps us long base metals. • Equity markets are taking the Obama victory quite badly. with US stocks down some 4% on Wednesday and Thursday. This has pushed up global bond markets, and credit spreads are wider, b

in the slipstream of the tumbling equity market. President Obama's re-election perhaps also diminishes expectation

h data is available. 4. Edward Luce, “Goodbye to Barack Obama’s World,” Financial Times, November 27, 2016. 5. J

progress in dealing with important economic issues.** Shambaugh has outlined various measures, such as infrastructure spending proposed by President Obama in his fiscal year 2017 budget, that would positively impact productivity and labor force participation.’ The budget was not approved. Summers has si

ures, such as infrastructure spending proposed by President Obama in his fiscal year 2017 budget, that would positi

r takeaway from the analysis would not change if 1945 and 1949 were included for the series for which data is available. 4. Edward Luce, “Goodbye to Barack Obama’s World,” Financial Times, November 27, 2016. 5. John H. Cochrane, “Ending America’s Slow-Growth Tailspin,” Wall Street Journal, ay 2, 2016. 6. arti

ound the lending outlook given fairly healthy tourism activity. Management noted that while a de-emphasis on the Pacific Alliance, a priority for the Obama administration, was not a positive development, it remained fairly confident that strong military spending should continue to serve as a tailwind to

hat SEC Chairwoman White will leave at the end of President Obama’s term, this will likely lead to some regulatory

rities Authority; Merrill Lynch (Russia): OOO Merrill Lynch Securities, Moscow, regula DIFC): Merrill Lynch International (DIFC Branch}, regulated by the Dubai Financial Services Authority (DFSA); Comisién Nacional del Mercado De Valores; Merrill Lynch (Brazil): Bank of America Merrill Lynch Banco Multip errill Lynch Kingdom of Saudi Ar

e current and future US administration foreign policy inclinations, in our view. Separately, we note that the White House spokesman said US President Obama did not support the legislation and likely would not sign it. (A potential presidential veto may however still be overruled if Congress assembles the

y, we note that the White House spokesman said US President Obama did not support the legislation and likely would

Menkul Degerler AS., regulated by the Capital Markets Board of Turkey; Merrill Lynch (DIFC): Merrill Lynch International (DIFC Branch), regulated by the Dubai Financial Services Authority (DFSA); Merrill Lynch (Spain): Merrill Lynch Capital Markets Espana, S.A.S.V., regulated by Comisién Nacional del Mercado De Valores; Merrill Lynch (

2012 “Electric Utility Regulatory Aspects of Electric Vehicle Commercialization”’, National Regulatory Research Institute, December 1980 “President Obama Announces Historic 54.5 mpg Fuel Efficiency Standard”, White House Press Release, July 29, 2011 “Germany Power Links for Unbuilt Offshore Wind Cost

nal Regulatory Research Institute, December 1980 “President Obama Announces Historic 54.5 mpg Fuel Efficiency Stand

in branch, licensed as a conventional wholesale bank by the Central Bank of Bahrain (for professional clients only); JPMCB Dubai branch, regulated by the Dubai Financial Services Authority. In Hong Kong, this material is distributed by JPMorgan Chase Bank, N.A. (JPMCB) Hong Kong branch except to recipients having an account at JPMCB Si

8 occurring in the last two election cycles alone (see Chart 14). Hence, investors who believe this /s not your typical election (to quote President Obama at the latest Democratic National Convention) may still find that option markets are currently pricing too little of a move. However, as we have rec

lieve this /s not your typical election (to quote President Obama at the latest Democratic National Convention) may

h Menkul Degerler AS., regulated by the Capital Markets Board of Turkey; Merrill Lynch (DIFC): Merrill Lynch Intemational (DIFC Branch), regulated by the Dubai Financial Services Authority (DFSA); Merrill Lynch (Spain): Merrill Lynch Capital Markets Espana, S.AS.V., regulated by Comisién Nacional del Mercado De Valores; Merrill Lynch (B

the fiscal cliff negotiations. Commodities — A further set of better Chinese economic data keeps us long base metals. Equity markets are taking the Obama victory quite badly, with US stocks down some 4% on Wednesday and Thursday. This has pushed up global bond markets, and credit spreads are wider, but

in the slipstream of the tumbling equity market. President Obama’s re-election perhaps also diminishes expectation

saliyah Tower, King Fahad Road, P.O. Box 51907, Riyadh 11553, Kingdom of Saudi Arabia. Dubai: JPMorgan Chase Bank, N.A., Dubai Branch is regulated by the Dubai Financial Services Authority (DFSA) and its registered address is Dubai International Financial Centre - Building 3, Level 7, PO Box 506551, Dubai, UAE. Country and Region Speci

by UBS AG, authorized and regulated in the UK by the Financial Services Authority. A member of the London Stock Exchange. This publ

ctions, Republicans will likely lose seats in the House on a net basis but retain a majority; we expect them to be even with Democrats in the Senate. Obama will likely retain the White House. Such an electoral outcome would prolong the existing gridlock between Republicans and Democrats. ¢ Due to the on