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mberg European equities: switch to outright long Healthcare We switch our European sector pair trade preferr
the United Kingdom (UK) to professional clients and eligible counterparties (as each is defined in the rules of the FCA and the PRA) by MLI (UK) and Bank of America Merrill Lynch International Limited, which are authorized by the PRA and regulated by the FCA and the PRA, and is distributed in the UK to retail clients (as defined in the rules of the
Page: HOUSE_OVERSIGHT_014457 →higher oil would make Oil’s high DY sustainable. Healthcare is too cheap vs an improving sector growth outloo
the United Kingdom (UK) to professional clients and eligible counterparties (as each is defined in the rules of the FCA and the PRA) by MLI (UK) and Bank of America Merrill Lynch International Limited, which are authorized by the PRA and regulated by the FCA and the PRA, and is distributed in the UK to retail clients (as defined in the rules of the
Page: HOUSE_OVERSIGHT_014496 →is one of the nation's largest managed care organizations, covering roughly 23 million members. The company focuses on three main business segments: Health Care (health insurance, dental, behavioral health and pharmacy benefit Bankof America <> Merrill Lynch Top 10 US Ideas Quarterly | 03 January 2017 3 HOU
Page: HOUSE_OVERSIGHT_014624 →the United Kingdom (UK) to professional clients and eligible counterparties (as each is defined in the rules of the FCA and the PRA) by MLI (UK) and Bank of America Merrill Lynch International Limited, which are authorized by the PRA and regulated by the FCA and the PRA, and is distributed in the UK to retail clients (as defined in the rules of the
Page: HOUSE_OVERSIGHT_014650 →nce in the health system in order to enhance % of Healthcare facilities reporting comprehensive % 10 100 NA 10
the United Kingdom (UK) to professional clients and eligible counterparties (as each is defined in the rules of the FCA and the PRA) by MLI (UK) and Bank of America Merrill Lynch International Limited, which are authorized by the PRA and regulated by the FCA and the PRA, and is distributed in the UK to retail clients (as defined in the rules of the
Page: HOUSE_OVERSIGHT_016194 →Quantitative Analysis
tax of overseas earnings of US firms’ subsidiaries at reduced rates. Non-Financials in the S&P hold at least $1.2tn in overseas cash (mostly Tech and Health Care). If half was used for buybacks, this could add 3% ($4) to S&P 500 EPS. A redux of 2004 where companies used 80% of cash for buybacks may be less lik
Page: HOUSE_OVERSIGHT_023069 →. Research reports prepared and issued by Merrill Lynch (DIFC) are done so in accordance with the requirements of the DFSA conduct of business rules. Bank of America Merrill Lynch International Limited, Frankfurt Branch (BAMLI Frankfurt) distributes this report in Germany and is regulated by BaFin. This research report has been prepared and issued b
Page: HOUSE_OVERSIGHT_023094 →Entities connected to both Bank of America Merrill Lynch International Limited and Health Care

Bank of America
ORGANIZATIONUtilities
ORGANIZATIONthe Dubai Financial Services Authority
ORGANIZATION
Donald Trump
PERSONPierce, Fenner & Smith Incorporated
ORGANIZATION
Merrill Lynch
ORGANIZATION
United Kingdom
LOCATION
Seoul
LOCATION
Michael Bloomberg
PERSON
Frankfurt
LOCATIONMerchant Bank
ORGANIZATIONMerrill Lynch International Bank Limited
ORGANIZATIONThe Financial Service Board
ORGANIZATIONMerrill Lynch Canada Inc
ORGANIZATION
the Financial Services Agency
ORGANIZATIONBaFin
ORGANIZATIONthe Investment Industry Regulatory Organization of Canada
ORGANIZATIONMerrill Lynch KSA Company
ORGANIZATIONMerrill Lynch International
ORGANIZATIONthe Securities and Futures Bureau
ORGANIZATION