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-in is not triggered: =b> 5.6x (9.9%/1.75%) — you have upside up to 114.9%<=p> Regards, Amanda </=pan> Amanda Ensau> Director J Global Equities Bank of America Merrill =ynch Merrill Lynch, Pierce, F=nner & Smith Incorporated One Bryan= Park I 5th Floor I New York, NY 10036 From: Ens, Ama=da Sent: Tuesday, Novemb
01 EFTA02666851 The Flow Show <http://rsch.ba=l.com/r?q=lOkdhk4kaufvRbmcQWmwEQ&e=dg.americas_equity_derivatives_=alescre,40baml.com&h=jy UCXg> , Michael Hartnett, 11/18= Violent rotation: record equity ETF inflow, record financials inflow, biggest bond outflow in 3.5 yrs, record EM debt =utflow. Regards,=/u>
ls means banks and insurance should outperform REITs within the financial sector (Chart 3). This is also in line with the global rotation expected by Michael Hartnett (The Flow Show: The Inflation Era Begins 10 November 2016). 3) Nikkei winner of steeper UST and strong macro In a scenario of strong external deman
Page: HOUSE_OVERSIGHT_014400 →-- Bankof America a Merrill Lynch 2017 Institutional Investor (All-Japan) Survey Your Vote Counts — We appreciate your support Click here to vote Bankof America <> Merrill Lynch Read the research report for complete information including important disclosures and analyst certification(s). The research repor
Page: HOUSE_OVERSIGHT_014403 →ports or contact your Bank of America Merrill Lynch representative or Merrill Lynch Global Wealth Management representative for further information. "Bank of America Merrill Lynch” is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Forward this email to clients. St
Page: HOUSE_OVERSIGHT_014403 →Investment Strategy
ls means banks and insurance should outperform REITs within the financial sector (Chart 3). This is also in line with the global rotation expected by Michael Hartnett (The Flow Show: The Inflation Era Begins 10 November 2016). 3) Nikkei winner of steeper UST and strong macro In a scenario of strong external deman
Page: HOUSE_OVERSIGHT_014404 →h Personnel (including the analyst(s) responsible for this report) receive compensation based upon, among other factors, the overall profitability of Bank of America Corporation, including profits derived from investment banking. The analyst(s) responsible for this report may also receive compensation based upon, a
Page: HOUSE_OVERSIGHT_014408 →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
Page: HOUSE_OVERSIGHT_014408 →the US election. The insurance sector has been the best performer since the US election on the back of a steeper US Treasury curve and higher rates. Michael Hartnett observes “violent rotation out of deflation to inflation plays”, including a move from REITs to US banks. This should apply to Japan, where banks and
Page: HOUSE_OVERSIGHT_014427 →h Personnel (including the analyst(s) responsible for this report) receive compensation based upon, among other factors, the overall profitability of Bank of America Corporation, including profits derived from investment banking. The analyst(s) responsible for this report may also receive compensation based upon, a
Page: HOUSE_OVERSIGHT_014429 →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
Page: HOUSE_OVERSIGHT_014429 →Investment Strategy
election day). Peak liquidity, deflation, Inequality and globalisation —- watch for Peak Trump So what does a Trump presidency mean for the world? Michael Hartnett, our Chief Investment Strategist sums it up nicely with four of his seven peaks. Peak liquidity — the era of excess liquidity is over; Peak inequalit
Page: HOUSE_OVERSIGHT_014436 →h Personnel (including the analyst(s) responsible for this report) receive compensation based upon, among other factors, the overall profitability of Bank of America Corporation, including profits derived from investment banking. The analyst(s) responsible for this report may also receive compensation based upon, a
Page: HOUSE_OVERSIGHT_014457 →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
Page: HOUSE_OVERSIGHT_014457 →Entities connected to both Bank of America and Michael Hartnett

Jeffrey Epstein
PERSON
Richard Kahn
PERSON
Marc Rich
PERSON
Donald Trump
PERSONAmanda
PERSON
Merrill Lynch
ORGANIZATION
Bank of America Corporation
ORGANIZATIONPierce, Fenner & Smith Incorporated
ORGANIZATION
United Kingdom
LOCATION
U.S. Treasury
ORGANIZATION
Michael Bloomberg
PERSON
Michael Cohen
PERSON
Merrill Lynch Global Wealth Management
ORGANIZATION
BofA Merrill Lynch
ORGANIZATIONMerchant Bank
ORGANIZATION
Seoul
LOCATIONThe Financial Service Board
ORGANIZATIONMerrill Lynch Canada Inc
ORGANIZATIONMerrill Lynch KSA Company
ORGANIZATIONMerrill Lynch International Bank Limited
ORGANIZATION