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this report may be used or reproduced or quoted in any manner whatsoever in Taiwan by t
document IMAGES-003-HOUSE_OVERSIGHT_014651.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…contain a shor short-term price impact on the e reflects both a longer term total be more or less positive than as BofA Merrill Lynch is aware that acti executing any short idea contained in this repo! For incl UK ocated outsi u ime, hold a BofA Merrill Ww methods of recipient of...

personal investment advice and it does not take into account the specific investment o!
document IMAGES-001-HOUSE_OVERSIGHT_010615.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…ers, m instruments may be difficult to income from lose their enti Futures and o disclosure documents. Investmi BofA Merrill L action may be limited by regulations prohibiting or restricting "shortse executing any short idea con his report m hat presents In the event tl the...

o account the specific investment o
document IMAGES-002-HOUSE_OVERSIGHT_014458.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…incipal inves This report may contain a short- reflects both a longer term total be more or less positive than as BofA Merrill Lynch is aware that e Foreign currency rates o bq ime, hold a BofA Merrill Ww me recipient of this report. In the event that the recipient received...

time, hold a trading position (long or short) in the securities and financial instruments discussed
document IMAGES-003-HOUSE_OVERSIGHT_014950.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…me, hold a trading position (long or short) in the securities and financial instruments discussed in this report. BofA Merrill Lynch, through business units other than BofA Merrill Lynch Global Research, may have issued and may in the future issue trading ideas or recommenda h d...

USDJPY testing 110. Buy Japan upside
email TEXT-001-HOUSE_OVERSIGHT_014397.txt Nov 17, 2016 House Oversight Committee — Epstein Estate Records (Nov 2025)

…L.P. 17-1M-2016 14:10:30 Source: Bloomberg HOUSE OVERSIGHT 014398 Amanda Ens Director I Global Equities Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated Japan Investment Strategy Nikkei to 20,000: Inventory cycle upturn —> cyclicals; inflation —> b...

teaching at the National University of Singapore’s Lee Kuan Yew School of Public Policy
document IMAGES-006-HOUSE_OVERSIGHT_020636.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

177 teaching at the National University of Singapore’s Lee Kuan Yew School of Public Policy (LKYSPP), was expelled from Singapore and permanently banned from the country. The Ministry of Home Affairs (responsible for internal security and counterespionage) said in a statement an...

CIO WM Global Investment Office
document TEXT-001-HOUSE_OVERSIGHT_025247.txt Oct 25, 2012 House Oversight Committee — Epstein Estate Records (Nov 2025)

CIO WM Global Investment Office CIO monthly video www.ubs.com/cio-video For smartphone users: scan the code with an app like "scan" UBS CIO Monthly Extended November 2012 Published 25 October 2012 This report has been prepared by UBS AG. Please see important disclaimers and disc...

1 Anne-Marie Brady, “Magic Weapons: China’s Political Influence Activities under Xi Jinping,” Kissin
document IMAGES-006-HOUSE_OVERSIGHT_020632.txt Sep 18, 2017 House Oversight Committee — Epstein Estate Records (Nov 2025)

173 NOTES 1 Anne-Marie Brady, “Magic Weapons: China’s Political Influence Activities under Xi Jinping,” Kissinger Institute on China and the United States, September 18, 2017, accessed October 11, 2018, https://www .wilsoncenter.org/article/magic-weapons-chinas-political-influe...

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

Research Analysts James Barty >> Ajay Singh Kapur, CFA >> Investment Strategist Equity Strategist MLI (UK) Merrill Lynch (Hong Kong) +44 20 7996 3291 +852 3508 7753 [email protected] [email protected] Ronan Carr, CFA >> Shusuke Yamada, CFA >> European Equity Strateg...

Chart 1: Synchronised rise in leading indicators globally augurs well for
document IMAGES-002-HOUSE_OVERSIGHT_014462.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…alg (advanced 9m) 30 =———=|\iSCI Europe EPS € (trailing yoy, R 60 01/98 «= 01/01 0104 01/07 O10 O13 O16 Source: BofA Merrill Lynch Global Research, Datastream, IBES Chart 3: Cyclicals vs Defensives trade now looks very stretched 4 3 2 1 0 { -2 3 -4 Dec-97 Dec-01 Dec-05 Dec-...

Table 10: Tax impact from taxation of accumulated overseas profits at 10%/8.75% rates (assuming
document IMAGES-007-HOUSE_OVERSIGHT_023079.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…0 102.4 78.3 68.5 S&P 500 GAAP EPS impact ($9) ($8) Source: FactSet, Blaomberg, BofAML Global Research estimates, BofA Merrill Lynch US Equity & US Quant Strategy We estimate share buybacks add $4 (or as high as $6) to EPS (GAAP & non-GAAP) If the full $1.2tn that we estimate f...

Global Asset Allocation
document TEXT-001-HOUSE_OVERSIGHT_026572.txt Nov 9, 2012 House Oversight Committee — Epstein Estate Records (Nov 2025)

Global Asset Allocation 09 November 2012 The J.P. Morgan View Do US elections change anything? � Asset allocation –– The equity market has priced out the Romney win scenario, but from these levels, our economic and market outlook and risks are unchanged. These keep us medium-ter...

was activated to pressure the government to change position. Singapore’s experience in
document IMAGES-006-HOUSE_OVERSIGHT_020633.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

174 was activated to pressure the government to change position. Singapore’s experience in 2016-17 holds lessons for other ASEAN member states. On the surface, China claims that it does not interfere in the internal affairs of other states. At the same time, it is led by a Leni...