Epstein Secrets

d 1.9% in CY16 (Chart 13). One explanation is that private consumption is simply being underestimated in demand- side GDP statistics: researchers at the Bank of Japan recently produced experimental supply-side estimates of GDP that were significantly higher than existing expenditure- side statistics. We find the Bo

ral Bank of Ireland and on request; has been considered and distributed in apan; Is issued and distributed in Hong Kong by Merril nd is regulated by BaFin. or of this research report in port and wishing toe not futures contracts}. Singa of any matters arising from, or in connection with, this Bank of

75 70 65 60 55 50 1/1/2010 5/1/2011 8/4/2012 = 1/1/2014) 5/1/2015 = 9/1/2016 Source: BofA Merrill Lynch Global Research true against the JPY given the Bank of Japan is pegging 10y JGB yields at zero. We are cognizant of the possibility that the willingness of Japanese investors — who have already bought record am

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last week’s biggest losers were Korea’s KOSPI and India’s NIFTY, which each returned -0.8% week-over-week. In Japan, the Nikkei fell 0.3%. On Friday, the Bank of Japan (BoJ) left its monetary policy unchanged—it will continue to control the yield curve via its negative benchmark rate and its asset purchasing program

n or distribution of this the DFSA. Research re he Australian Prudential Regulation Authority. pplicable regulations. Merrill Lynch (DIFC) is au by BaFin. lates in the nal, regulate oO ustral | ndustry Regu na}: Merrill Lynch (Seou ent | atory Organization of Canada; Merrill Lynch (Mexico Lynch Arge