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Volatility in Asia
document IMAGES-003-HOUSE_OVERSIGHT_014987.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

… view. Indicative pricing (As of 19-Jun-17) Buy HSCEI-SPX Dec-18 70/110% corridor variance swap: 5 vol points deg oes Bankof America 16 Global Equity Volatility Insights | 20 June 2017 Merrill Lynch HOUSE_OVERSIGHT_014987

Chart 27: 3% Global GDP growth the tipping point for EPS
document IMAGES-002-HOUSE_OVERSIGHT_014471.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…nded to improve with a lag of one to two years, following a period of declining capex ratios. That is encouraging for : Bankof America 12 European Equity Strategy | 01 December 2016 Merrill Lynch HOUSE_OVERSIGHT_014471

European volatility: Sector snapshot
document IMAGES-003-HOUSE_OVERSIGHT_014986.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…tive mid prices; strikes as % of forward ***Negative values indicate that the bullish risk reversal takes in a credit. Bankof America <> ariective Merrill Lynch Global Equity Volatility Insights | 20 June 2017 15 HOUSE_OVERSIGHT_014986

rc errti—“(iCssssi‘CSCSOCO LUDO
document IMAGES-002-HOUSE_OVERSIGHT_014317.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…ce activity next year metrics activity and points worsening credit metrics Source: BofA Merrill Lynch Global Research Bankof America a 2016 Future of Financials Conference | 17 November 2016 3 Merrill Lynch HOUSE_OVERSIGHT_014317

Summary of Open Trades (19-Jun-17)
document IMAGES-003-HOUSE_OVERSIGHT_014992.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…HY credit as div yields have surpassed HY credit yield & equities o er more gearing to rising PMI's, earnings and FCF Bankof America Merrill Lynch Global Equity Volatility Insights | 20 June 2017 21 HOUSE_OVERSIGHT_014992

Stress testing CNY
document IMAGES-003-HOUSE_OVERSIGHT_014762.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…RHS) Source: BofA Merrill Lynch Global Research, Bloomberg 32 Global Rates, FX & EM 2017 Year Ahead | 16 November 2016 Bankof America Merrill Lynch HOUSE_OVERSIGHT_014762

James Barty >> Ajay Singh Kapur, CFA >>
document IMAGES-002-HOUSE_OVERSIGHT_014459.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…gist MLI (UK) +44 20 7995 6118 [email protected] 28 Global Cross Asset Strategy - Year Ahead | 30 November 2016 Bankof America 2 Merrill Lynch HOUSE_OVERSIGHT_014459

Summary of Open Trades (5-Jun-17)
document IMAGES-007-HOUSE_OVERSIGHT_023597.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…m structure is too steep is under-pricing risks Buy unloved and cheap biotech upside by levering depressed vol & skew Bankof America Merrill Lynch Global Equity Volatility Insights | O06 June 2017 = 23 HOUSE_OVERSIGHT_023597

Notable trends and dislocations (US)
document IMAGES-007-HOUSE_OVERSIGHT_023583.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

… 4.5%, which is already subdued even for the current low- vol regime (17th %-ile since the US election last November). Bankof America Merrill Lynch Global Equity Volatility Insights | 06 June 2017 9 HOUSE_OVERSIGHT_023583

Top 10 US Ideas Quarterly
document IMAGES-003-HOUSE_OVERSIGHT_014623.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…urities are intended to stay on the list for one quarter, though some may be chosen again for the next quarter’s list. Bankof America 2 Top 10 US Ideas Quarterly | 03 January 2017 Merrill Lynch HOUSE_OVERSIGHT_014623