BofA Merrill Lynch Global Research.*Market cap as % of MSCI EM represents and artificially constructed benchmark weight
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BofA Merrill Lynch Global Research. US spot refers to natural gas prices of US$2.6/mn BTU. The US$2.5bn feedstock
BofA Merrill Lynch Global Research Source: SEC
FX & EM 2017 Year Ahead | 16 November 2016 Merrill Lynch
BofA Merrill Lynch Global Research Source: Eurostat
000 Source: BofA Merrill Lynch Global Research
FX & EM 2017 Year Ahead | 16 November 2016 Merrill Lynch
Merrill Lynch Kingdom of Saudi Arabia Company
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
…es -40 -35 -30 -25 -20 “15 “10 5 +0 +5 +10 +15 +20 225 +30 +35 <= underweight // overweight => Source: Bank of America Merrill Lynch Global Fund Manager Survey, Feb 12, 2013 Net % Overweight Global Utilities u TTY OOM i. i Ti I; } Red circle = ao | ae crossing below 1o under...
BofA Merrill Lynch Global Research Source: Saudi Aramco
…ice $46.95 P/E (2017) 32.5x % of sell-side rated Buy 14.3% Short interest % of float 10.30% Source: Bloomberg and BofA Merrill Lynch Global Research estimates BankofAmerica <2” 14 Top 10 US Ideas Quarterly | 03 January 2017 Merrill Lynch HOUSE_OVERSIGHT_014635