Epstein Secrets

onerous post cycle reserve requirements. Downside risks are a slowdown in housing price appreciation and a prolonged low interest rate environment. Analyst Certification We, Erika Najarian, Ebrahim H. Poonawala, Kenneth Bruce and Michael Carrier, CFA, hereby certify that the views each of us has expressed in this res

issued and distrib India}; and is issued and distributed in Singapore to institutional investors and/or accredited investors (each as d Bank Limited (Merchant Bank} (MLIBLMB) and Merrill Lynch (Singapore) (Company Registration regulated by MAS. Bank of America N.A, Australian Branch (ARBN 064 874 531), AFS Licen

or detailed information regarding the risks involved with investing in listed options: http://Awww.theocc.com/about/publications/character-risks.jsp Analyst Certification We, James Barty, Abhinandan Deb, Barnaby Martin, Benjamin Bowler, Claudio Piron, David Hauner, CFA, Hans Mikkelsen, lan Gordon, loannis Angelakis, Kam

vice on securities (and not futures contracts). Singapore recipients of this research report should contact Merrill Lynch International Bank Limited (Merchant Bank} and/or Merrill Lynch (Singapore) Pte Ltd in respect of any matters arising from, or in connection with, this research report. 26 Global Cross Asset

ronger outflows than expected and heightened political noise. Upside risks include a generalized rally on the back of more positive global backdrop. Analyst Certification We, David Woo, Adarsh Sinha, Arko Sen, Claudio Irigoyen, Jane Brauer, Kamal Sharma, Mark Capleton, Paul Ciana, CMT and Ralf Preusser, CFA, hereby ce

racts) or provision of specific advice on securities (and not futures contracts). Si report should contact Merrill Lynch International Bank Limited (Merchant Bank) and/or research report. General Investment Related Disclosures: Taiwan Readers: Neither the information nor any opinion expressed herein constitute

barriers to entry. Upside risks are successful new title releases that accelerate growth, or potential acquisition of Zynga for its game portfolio. Analyst Certification We, Justin Post, Jason Mitchell and Nat Schindler, hereby certify that the views each of us has expressed in this research report accurately reflect

utional investors and/or accredited investors (each as defined under the Financial Advisers Regulations) by Merrill Lynch International Bank Limited (Merchant Bank} (MLIBLMB) and Merrill Lynch (Singapore) (Company Registration Nos F 06872E and 198602883D respectively). MLIBLMB and Merrill Lynch (Singapore} are r

n expected mobile impact coming from new Drillisch tariffs or failure to turnaround good US operational trends into more profitable revenue streams. Analyst Certification We, Benjamin Bowler, Clovis Couasnon and Frederic Boulan, CFA, hereby certify that the views each of us has expressed in this research report accura

l Lynch (Hong Kong) which is regulated errill Lynch (India); and is issued and distributed in Singapore to institutional International Bank Limited (Merchant Bank) (MLIBLMB) and Merrill Lynch ingapore) are regulated by MAS. Bank of America N.A,, Australian Branch (ARBN e this report in Australia only to affilia