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of Betterment), Randy Sternke (Vice President, Business Development at Alkanza), and Vaughn Bowman (Director, Managed Solutions Channel Management at BofAML). Each firm discussed the unique aspects of their individual business models and where they see the robo industry headed in the future. ¢ Broverman
Page: HOUSE_OVERSIGHT_014367 →on of the ideas expressed in this re port may depend upon an investor's abi LPF&S is the distribu pore) Pte Ltd in respec any and is regulated by BaFin. (and not futures contracts). Si transact in any securities or o articular needs of any specific discussed or recommended in insured by the Feder
Page: HOUSE_OVERSIGHT_014394 →Investment Strategy
. That should be the edge you have at looking across the range of asset classes compared to single asset class investors. We would like to thank our BofAML colleagues who have supported our product this year by providing many such ideas and trust they will continue to do so through 2017. Bankof America
Page: HOUSE_OVERSIGHT_014434 →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 by MLPF&S and/or one or more of its non-US affiliates. MLPF&S is the distributor of this research
Page: HOUSE_OVERSIGHT_014457 →ound 3% in 2017 and 3.5% in 2018. That in turn would mean a more aggressive Fed and in all likelihood a bigger rise in yields and the USD. Chart 15: BofAML sees GDP accelerating into 2018... Chart 16: ...with inflation picking up too m Global GDP growth % m DM GDP growth % m EM GDP growth % m Global CPI
Page: HOUSE_OVERSIGHT_014466 →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 by MLPF&S and/or one or more of its non-US affiliates. MLPF&S is the distributor of this research
Page: HOUSE_OVERSIGHT_014496 →calendar-specific events noted for most stocks. We constructed our list by canvassing BofAML Fundamental Equity Research analysts in order to find 10 BofAML-covered stocks which we think will significantly outperform or underperform peers during the quarter. We considered only Buy-rated names for outperfo
Page: HOUSE_OVERSIGHT_014623 →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 by MLPF&S and/or one or more of its non-US affiliates. MLPF&S is the distributor of this research
Page: HOUSE_OVERSIGHT_014650 →Estimate Change
nauthorized redistribution of this report is prohibited. This report is intended for [email protected] Hess Corp. Inflection point: adding Hess to BofAML’s US 1 ‘best ideas’ list Reiterate Rating: BUY | PO: 80.00 USD | Price: 49.97 USD Short interest ratio: catalyst for recovery Over the past six m
Page: HOUSE_OVERSIGHT_014873 →rules. Bank of America Merrill Lynch International Limited, Frankfurt Branch (BAMLI Frankfurt) distributes this report in Germany and is regulated by BaFin. iates in the US (short name: legal name, regulator): Merrill Lynch (Sou South Africa (Pty) Ltd., regulated by The Financial Service Board; MLI (UK)
Page: HOUSE_OVERSIGHT_014885 →Quantitative Analysis
the corporate tax rate 4 Repatriation 6 Border adjustment tax analysis 12 Closing loopholes 15 No interest tax shield 7 Tax reform screens 19 Related BofAML research on US tax reform 22 Methodology 24 2 Equity Strategy Focus Point | 29 January 2017 (pertain HOUSE_OVERSIGHT_023070 --- PAGE BREAK --- The
Page: HOUSE_OVERSIGHT_023070 →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 by MLPF&S and/or one or more of its non-US affiliates. MLPF&S is the distributor of this research
Page: HOUSE_OVERSIGHT_023094 →o expect prices to rebound to $55/bbl by year end. In fact current levels of ~$40 are close to the summer floor ($39) they had previously suggested. BofAML strategists have turned bullish Oil & Gas equities given more CB (BoE) easing, attractive div yields and exposure to the EM recovery narrative. Moreo
Page: HOUSE_OVERSIGHT_025987 →rules. Bank of America Merrill Lynch Intemational Limited, Frankfurt Branch (BAMLI Frankfurt) distributes this report in Germany and is regulated by BaFin. This research report has been prepared and issued by MLPF&S and/or one or more of its non-US affiliates. MLPF&S is the distributor of this research
Page: HOUSE_OVERSIGHT_026002 →Entities connected to both BaFin and BofAML

Frankfurt
LOCATION
United Kingdom
LOCATIONthe Prudential Regulation Authority
ORGANIZATION
Bank of America
ORGANIZATIONthe Dubai Financial Services Authority
ORGANIZATION
Donald Trump
PERSON
Merrill Lynch
ORGANIZATION
Merrill Lynch Global Wealth Management
ORGANIZATIONMerchant Bank
ORGANIZATION
Michael Bloomberg
PERSONMerrill Lynch Canada Inc
ORGANIZATION
Seoul
LOCATIONMerrill Lynch International Bank Limited
ORGANIZATIONThe Financial Service Board
ORGANIZATIONPierce, Fenner & Smith Incorporated
ORGANIZATIONBank of America Merrill Lynch International Limited
ORGANIZATION
the Financial Services Agency
ORGANIZATIONthe Investment Industry Regulatory Organization of Canada
ORGANIZATIONMerrill Lynch International
ORGANIZATIONthe Securities and Futures Bureau
ORGANIZATION