Epstein Secrets

perspective and then owning outright thereafter. And =iven how you and Jeffrey have more flexibility (you don't answer to =utside investors), since Le Pen seems a low risk, you might be willing =o be more aggressive. Investors are underweight Europe overall and =ithin Europe, underweight European bank

reement =ighlighted above Therefore we view today as an adding opportunity to our core =iew of SX7E higher, EURUSD higher, EUR Rates Higher From: BofAML-Alastair Ryan, Michael Helsby Imailto:[email protected]] Sent: Monday, March 27, 2017 1:24 PM Subject: European Banks Strategy: Rate sensi

. That should be the edge you have at looking across the range of asset classes compared to single asset class investors. We would like to thank our BofAML colleagues who have supported our product this year by providing many such ideas and trust they will continue to do so through 2017. Bankof America

urope, especially France and Germany. Because of the winner takes all system in France we find investors are more concerned with the situation there. Marine Le Pen and the Front National look likely to make it to the second round of voting (again according to polls) and until the vote comes in we suspect investo

to the second round of voting (again according to polls) and until the vote comes in we suspect investors will be cautious about European markets. A Le Pen victory could likely bring the future of the EU and the Euro into question as she has talked about France withdrawing from both. That in turn has arg

crucial French elections. A Bankof America Merrill Lynch European Equity Strategy | 01 December 2016 5 HOUSE_OVERSIGHT_014464 --- PAGE BREAK --- Marine Le Pen victory could bring into question both the future of the EU and also the euro, should the polls be close it could make the uncertainty and market mov

ound 3% in 2017 and 3.5% in 2018. That in turn would mean a more aggressive Fed and in all likelihood a bigger rise in yields and the USD. Chart 15: BofAML sees GDP accelerating into 2018... Chart 16: ...with inflation picking up too m Global GDP growth % m DM GDP growth % m EM GDP growth % m Global CPI

erica 16 European Equity Strategy | 01 December 2016 Merrill Lynch HOUSE_OVERSIGHT_014475 --- PAGE BREAK --- Barty argued in The Trump Inflection, Le Pen’s victory has the potential to be even more of an earthquake for the world’s financial markets. Indeed, we have already seen a 1vol move in April 2017