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Investment Strategy
Merkel is returned at the head of a coalition government in Germany. Chart 19: German polls show a consistent lead for Merkel’s CDU party Chart 20: Fillon well ahead of Le Pen in polls showing a potential run-off 40 100 : 90 " Oy On%@ gate 20 tHe “008 as” “ehan 46 06 4 80 30 +4 4 a aa a a4 a4 4 70 2 1 a
Page: HOUSE_OVERSIGHT_014443 →dom of Saudi Arabia Company, regulated by the Capital Market Authority. This research report: has been approved for publication and is distributed in the United Kingdom (UK) to professional clients and eligible counterparties (as each is defined in the rules of the FCA and the PRA) by MLI (UK) and Bank of America Mer
Page: HOUSE_OVERSIGHT_014457 →European politics. Will Europe follow the route to populism (revolt from the voters) or will we find relief for the markets by the end of 2017 from a Fillon/Merkel duo being in charge of the Euro area’s two largest economies. We think investors will demand a higher risk premium until the French Elections
Page: HOUSE_OVERSIGHT_014461 →dom of Saudi Arabia Company, regulated by the Capital Market Authority. This research report: has been approved for publication and is distributed in the United Kingdom (UK) to professional clients and eligible counterparties (as each is defined in the rules of the FCA and the PRA) by MLI (UK) and Bank of America Mer
Page: HOUSE_OVERSIGHT_014496 →ce should stay in the European Union, and, should she win, questions about the viability of the Eurozone will surface immediately.°* While polls show Fillon well ahead of Le Pen, polls have been wrong on the UK and Italian referenda and the US election. The Eurasia Group, for one, assigns a 30% probabilit
Page: HOUSE_OVERSIGHT_014561 →obtain your own independent tax advice based on your particular circumstances. Distributing Entities. This material has been approved for issue in the United Kingdom solely for the purposes of Section 21 of the Financial Services and Markets Act 2000 by GSI, Peterborough Court, 133 Fleet Street, London EC4A 2BB; b
Page: HOUSE_OVERSIGHT_014618 →Entities connected to both United Kingdom and Fillon

United States
LOCATION
Donald Trump
PERSON
Barack Obama
PERSON
Frankfurt
LOCATIONthe Prudential Regulation Authority
ORGANIZATIONBaFin
ORGANIZATIONthe Australian Securities and Investments Commission
ORGANIZATION
Atlanta
LOCATION
Seoul
LOCATION
Michael Bloomberg
PERSON
Bank of America
ORGANIZATIONthe Capital Market Authority
ORGANIZATION
Angela Merkel
PERSONthe Dubai Financial Services Authority
ORGANIZATION
Merrill Lynch
ORGANIZATION
the Financial Services Agency
ORGANIZATIONMerchant Bank
ORGANIZATIONThe Financial Service Board
ORGANIZATION
Bank of America Corporation
ORGANIZATION
Merrill Lynch Global Wealth Management
ORGANIZATION