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stributed by Deutsche Bank AG acting through its London Branch at Winchester House, 1 Great Winchester Street, London EC2N 2DB. Deutsche Bank AG in the United Kingdom is authorised by the Prudential Regulation Authority and is subject to limited regulation by the Prudential Regulation Authority and Financial Cond
ry policy could soon be satisfied." Bill Dudley, New York Fed President, 12 November "I'm comfortable with moving off zero soon." Dennis Lockhart, Atlanta Fed President, 19 November 3 Economists 0% 20% 40% 60% 80% 100% % of economists Financial Review, Nov 10th 2015 2 Market Probability of a hike
pose=of avoiding U.S. tax-related penalties. Note that J.P. Mor=an is not a licensed insurance provider. =p class="MsoNormal"> <=span> <=span> In the United Kingdom, this material is approved by J.P. Morgan In=ernational Bank Limited (JPMIB) with the registered office located at 25 B=nk Street, Canary Wharf, Lon
tes are "stale" and that "some data since (the Aug=st FOMC meeting) is stronger." More broadly, the tone was more upb=at than his July 16 interview. Atlanta Fed President Lockhart, oft=n seen as a median voter on the FOMC, has also acknowledged the recent str=ngth in the data; comparing his August 23rd inte
uarter is currently tracking at 3.6% according to the Atlanta Fed. Chart 13: Eurozone PMI’s have picked up of late
of indicators, such as ISM’s, PMI’s and consumer confidence pointing to a solid Q4 to follow. That quarter is currently tracking at 3.6% according to the Atlanta Fed. Chart 13: Eurozone PMI’s have picked up of late... Chart 14: US Consumer Confidence now at post-GFC highs 60.0 120 100 59.0 80 50.0 60 40 45.0 ———U
Page: HOUSE_OVERSIGHT_014465 →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 →Entities connected to both United Kingdom and Atlanta Fed

Donald Trump
PERSON
Frankfurt
LOCATION
Bloomberg L.P.
ORGANIZATION
Paul Ryan
PERSONthe Prudential Regulation Authority
ORGANIZATIONBaFin
ORGANIZATION
Bank of America
ORGANIZATIONthe Capital Market Authority
ORGANIZATION
Merrill Lynch
ORGANIZATION
Merrill Lynch Global Wealth Management
ORGANIZATION
Bank of America Corporation
ORGANIZATIONMerrill Lynch International Bank Limited
ORGANIZATIONPierce, Fenner & Smith Incorporated
ORGANIZATION
BofA Merrill Lynch
ORGANIZATIONMerrill Lynch Canada Inc
ORGANIZATIONthe Central Bank of Ireland
ORGANIZATIONMerrill Lynch International Incorporated
ORGANIZATIONMerrill Lynch KSA Company
ORGANIZATIONOtoritas Jasa Keuangan
ORGANIZATIONDSP Merrill Lynch Limited
ORGANIZATION