Epstein Secrets

mat Arternatively. contact Research Opecabcre Recipient Hamdy Hambad) Cola Mackay. CFA, Director Emersins (mom( tAiddle East & Afrit. &mits Sales Bank ol America Merrie Lynch Office: Mis ~erica was piepend by Seks persoon.% of Bonk of Amenko Merrill Lynch opdis subject to the teems ovacith at the JolkwinglMk

uted response; Next China Potential catalyst - Xi's visit to Hong Kong Date: June 21.2017 at 10:05:58AM EDT To: Richard Kahn Saudi Arabia added to MSCI EM watchlist This should kick off a 2 year review and implementation process with MSCI. International institutions can no longer ignore this market as

& =frica Equity Sales Bank of America Merrill =ynch 2 EFTA_R1_01638375 EFTA02507623 Office > This material was prepared by Sales personnel of =ank of America Merrill Lynch and is subject to the terms available at =he following link: http://corp.bankofamerica.com/business/smb/landing/emaildisclai=er/americas/global-mark

st global investors: Best way to access the trade: M1SAP (MSCI Saudi =rovisional Index) 32-name =SCI-owned index, that will rebalance into the full MSCI EM index upon =nclusion Trades =90m/ day based on bottleneck liquidity • Tradable on swap at lml.+90bps, std comm applies; also =ccessible on fully f

ssell and Nikkei on a tear higher. This is not how we were positioned so we need to ask the question of whether and what we need to change. Table 2: MSCI EM Asia at a 2PE point discount to other equity markets Chart 27: Japan relatively cheap at 14.1x fwd earnings Ase iM MSCIJapan MSCIEurope — MSCIUS 50 f

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errill Lynch (Singapore) (Company Registration Nos F 06872E and 198602883D respectively). MLIBLMB and Merrill Lynch (Singapore} are regulated by MAS. Bank of America N.A, Australian Branch (ARBN 064 874 531), AFS License 412901 (BANA Australia) and Merrill Lynch Equities (Australia) Limited (ABN 65 006 276 795), AFS L