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Investment Strategy
rs should seek on existing public information on such Insurance Corporation and are not ases, securities and other financial
ico} ico} SSR ERE EERE ES SSR eRe EER EES Source: Bloomberg Source: Bloomberg 4 Global Cross Asset Strategy -
be based solely on existing public information on such Insurance Corporation and are not volve numerous risks, including, oth
uy 70.0% Short interest % of float 2.25% Source: Bloomberg and BofA Merrill Lynch Global Research estimates
ump) Source: BofA Merrill Lynch Global Research, Bloomberg Trump’s effect on MXN We provide an empirical a
ticular, in risks related to the security or financial instrument may be difficult person. Investors should seek this report and should understand Insurance Corporation and are not volve numerous risks, including, ‘0 obtain. Investors should note that hat price or value of such securities and instruments may rise o
Page: HOUSE_OVERSIGHT_010615 →Price Objective Change
A Merrill Lynch Investment rating Company ticker Bloomberg symbol Analyst BUY Affiliated Mgrs. AMG AMG US M
his report and should understand fering must be based solely on existing public information on such ion with such offering, and not on this report. Insurance Corporation and are not volve numerous risks, including, es, securities and other financial ‘0 obtain. Investors should note that and, in some cases, investors m
Page: HOUSE_OVERSIGHT_014395 →Investment Strategy
cals Source: BofA Merrill Lynch Global Research, Bloomberg, Haver Exhibit 2: Shares rated Buy by our analys
his report and should understand fering must be based solely on existing public information on such ion with such offering, and not on this report. Insurance Corporation and are not volve numerous risks, including, jes and other financial nvestors should note that and, in some cases, investors may is anticipated t
Page: HOUSE_OVERSIGHT_014409 →CY17 cY18 CY16 CY17 cY18 m@BofAML m= Consensus (Bloomberg, as of 15 Nov 2016) Source: BofA Merrill Lynch f
I Lynch siness fect any transaction in any | Lynch (Asia Pacific) Limited in pore recipients of this research her financial instrument. No part of Insurance Corporation and are not volve numerous risks, including, ‘0 obtain. Investors should note that and, in some cases, investors may Bankof America Merrill Lynch
Page: HOUSE_OVERSIGHT_014422 →RHS) Source: BofA Merrill Lynch Global Research, Bloomberg Source: BofA Merrill Lynch Global Research, Bloom
on contained in this report (including any in her financial instrument. No part of person. Investors should seek this report and should understand Insurance Corporation and are not volve numerous risks, including, instrument or derivative is suitable for all investors. In some cases, securities and other financial y
Page: HOUSE_OVERSIGHT_014430 →ance-decline line recently signaled for tactical USD strength and would turn outright bullish with a trend line break and new index highs. Chart 79: Bloomberg US dollar index, weekly chart with USD breadth measures MEBDXY Index - Last Price MISMAVG (200) on Close (BBDXY) LI9L47 Resistance: 1255 | A af" — ql a
Page: HOUSE_OVERSIGHT_014778 →nt may be difficult hat price or value of such securities and instruments may rise or fal ure performance. Levels and basis for taxation may change. Insurance Corporation and are not merica, N.A.}. Investments in general and, derivatives, in particular, involve numerous risks, including, among others, market risk, cou
Page: HOUSE_OVERSIGHT_014786 →Entities connected to both Insurance Corporation and Michael Bloomberg

Donald Trump
PERSON
Marc Rich
PERSON
Barack Obama
PERSON
United States
LOCATION
Bill Clinton
PERSON
George W. Bush
PERSON
United Kingdom
LOCATION
Paul Ryan
PERSON
Merrill Lynch
ORGANIZATION
Frankfurt
LOCATION
Bank of America
ORGANIZATION
Seoul
LOCATION
U.S. Treasury
ORGANIZATIONthe Dubai Financial Services Authority
ORGANIZATION
Merrill Lynch Global Wealth Management
ORGANIZATIONMerchant Bank
ORGANIZATIONthe Prudential Regulation Authority
ORGANIZATION
Bank of America Corporation
ORGANIZATIONOtoritas Jasa Keuangan
ORGANIZATION
the Financial Services Agency
ORGANIZATION