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ives were hitting record over bought signals with Financials and Cyclicals seeing the opposite. Against the ba
ch (DIFC) are done so in accordance with the requirements of the DFSA conduct of business 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 an
Page: HOUSE_OVERSIGHT_014496 →Quantitative Analysis
ritten that US corporates in aggregate (including Financials) hold ~$2tn in cash overseas, and their work sugg
ch (DIFC) are done so in accordance with the requirements of the DFSA conduct of business 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 an
Page: HOUSE_OVERSIGHT_023094 →N s+ ico} [o>} Lop} 12>} Lo>} Lop} Q Q Q OQ OQ = =— mm = Oo Oo oO Oo Oo Qo Qo Q QoQ Q Q Q Q ~~ — ~~ _ = —N N N N N N N N N 0 85 25885852825 mum Tech (MO Financials oo nk? i > > > 2 > = ~~ ) Discretionary (QW Industrials TONNE NNN NN NN i Staples GE Energy ems |_argest sector weight in the S&P500 = === Current =
Page: HOUSE_OVERSIGHT_023578 →Japan Securities Co,, Ltd, regulated by the Financi Exc Va jon by the FCA and PI Registration AFS License 412901 (B, ocal distribu errill Lynch Frankfurt) L ne matters re report sho! ld contact ea los F 06872E A efined by s.761G of the Cor ing Institution under the Banking Act 1959 nor regu ion
Page: HOUSE_OVERSIGHT_023609 →Entities connected to both Frankfurt and MO Financials

United States
LOCATION
United Kingdom
LOCATION
Donald Trump
PERSONthe Prudential Regulation Authority
ORGANIZATIONBaFin
ORGANIZATION
Marc Rich
PERSON
Michael Bloomberg
PERSON
the Financial Services Agency
ORGANIZATION
Seoul
LOCATIONthe Dubai Financial Services Authority
ORGANIZATIONthe Capital Market Authority
ORGANIZATION
Merrill Lynch
ORGANIZATION
Paul Ryan
PERSON
Merrill Lynch Global Wealth Management
ORGANIZATION
Bank of America
ORGANIZATION
Bank of America Corporation
ORGANIZATIONMerchant Bank
ORGANIZATIONThe Financial Service Board
ORGANIZATIONthe Securities and Futures Bureau
ORGANIZATIONthe Financial Supervisory Service
ORGANIZATION