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FX & EM 2017 Year Ahead | 16 November 2016 Merrill Lynch
regulated by The Financial Service Board; MLI (UK): Merrill Lynch
regulated by Otoritas Jasa Keuangan (OJK); Merrill Lynch
regulated by Comissao de Valores Mobiliarios; Merrill Lynch KSA Company
Global Utility White Paper CONFIDENTIAL Global Sector Positioning Tech Industrials Insurance Pharma Discretionary Materials Energy Banks Staples . Substantially Telecoms underweight Utlites -40 -35 -30 -25 -20 “15 “10 5 +0 +5 +10 +15 +20 225 +30 +35 <= underweight // overwei...
BofA Merrill Lynch Global Research Source: Saudi Aramco
see the most uplift in spending from any potentially large fiscal stimulus and infrastructure spending under the new US administration. Tax Policy: Unlike most semis, TXN reports its financials on a pure GAAP basis and its tax rate at 30% is one of the highest in the industry. W...
regulated by Comisién Nacional de Valores; Merrill Lynch
regulated by Comissdo de Valores Mobiliarios; Merrill Lynch KSA Company
BofA Merrill Lynch clients. Neither the information nor any opinion
oce SoM Mend Lynch Glcbal Research Bloortf-ri
significant credit issues for the banks as weaker firms (who are clients) will be better positioned to sell themselves to the tech behemoths looking for innovative ideas. Catalysts: 1) Improving expectations around rising rates (on back of better macro- economic data) will conti...
company report Source: BofA Merrill Lynch Global Research estimates
regulated by Comissdo de Valores Mobiliarios; Merrill Lynch KSA Company