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tional investors and/or accredited investors (each as defined under the Financial Advisers Regulations) by Merrill Lynch International Bank limited (Merchant Bank) (ALIBLMB)and Merrill Lynch (Singapore) (Company Registration Nos F 06872E and 1986028830 respectively), MUBLMB and Merrill Lynch (Singaporelare reg
es Strategist MLPF&S Sebastian Cross Rates Strategist Pac Rim Tony Morriss Rates Strategist/Economist lial Adrsh Sinha FX Strategist Kongl Paul Ciana, CIAT Shuichi ohsaki Technical Strategist Rates Strategist 1011L Vadim laralov Shusuke Yamada, CFA >> EX Strategist FX/Equity Strategist MLP
ovember 2016 Investment Strategy Japan Shusuke Yamada, CFA >> FX/Equity Strategist Merrill Lynch (iapan) #8] 3 6225 8515 [email protected] Paul Ciana, CMT Technical Strategist MLPF&S +1 646 855 6007 [email protected] HOUSE_OVERSIGHT_014424 --- PAGE BREAK --- Chart 1: USDJPY vs yield spread Ch
Page: HOUSE_OVERSIGHT_014424 →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
Page: HOUSE_OVERSIGHT_014429 →<2” 46 Global Rates, FX & EM 2017 Year Ahead | 16 November 2016 . Merrill Lynch HOUSE_OVERSIGHT_014776 --- PAGE BREAK --- Best Technical Trades Paul Ciana, CMT MLPF&S [email protected] Technical trends for Trump ¢ Bullish USD: Breadth and technicals favor USD. Overall they point to a stronger US doll
Page: HOUSE_OVERSIGHT_014777 →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
Page: HOUSE_OVERSIGHT_014785 →Entities connected to both Merchant Bank and Paul Ciana

Merrill Lynch
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Bank of America
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Merrill Lynch Global Wealth Management
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Seoul
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Donald Trump
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