bank shares to rise. If the BoJ does move to make policy more flexible, we think the focus will be on JGBs, rather than on negative interest rates. Chart Pack: 3 EFTA_R1_00106914 EFTA01785102 Nasdaq Bio Tech Index: Buy Calls on Bio-Tech US Investment Grade ETF, (LQD in white) and (Shares Outstanding i

bank shares to rise. If the BoJ does move to mak= policy more flexible, we think the focus will be on JGBs, rather than on =egative interest rates. Chart Pack: Nasdaq Bio Tech Index: Buy Calls on Bio-Tech=b> In JGB Futures, 150.60 is an impor=ant level for all global fixed income. <=span> Regional Bank

bank shares to rise. If the Sal does move to make policy more flexible, we think the focus will be on JGBs, rather than on negative interest rates. Chart Pack: Nasdaq Bio Tech Index: Buy Calls on Bio-Tech US Investment Grade ETF, (LQD in white) and (Shares Outstanding in Green). Buy Puts on IG Credit. In