Epstein Secrets

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ls means banks and insurance should outperform REITs within the financial sector (Chart 3). This is also in line with the global rotation expected by Michael Hartnett (The Flow Show: The Inflation Era Begins 10 November 2016). 3) Nikkei winner of steeper UST and strong macro In a scenario of strong external deman

the US election. The insurance sector has been the best performer since the US election on the back of a steeper US Treasury curve and higher rates. Michael Hartnett observes “violent rotation out of deflation to inflation plays”, including a move from REITs to US banks. This should apply to Japan, where banks and

in jo security, finance! by the U.K. regulatory regime, including the Financial Services Scheme, do not apply in general to business coordinated by BofA Merrill are described at http://go.bofa.com/coi. ments linked to securities that may have been recommended in this report. MLPF&S or one of its instruments

election day). Peak liquidity, deflation, Inequality and globalisation —- watch for Peak Trump So what does a Trump presidency mean for the world? Michael Hartnett, our Chief Investment Strategist sums it up nicely with four of his seven peaks. Peak liquidity — the era of excess liquidity is over; Peak inequalit

rch personnel are based on information known to, professionals in other business areas of BofA Merrill Lynch, including investment banking personnel. BofA Merrill Research and certain business groups. As a resul research reports. To the extent this report discusses any legal proceeding or issue , BofA her off