Results for “PT Merrill Lynch”

…r one of its may in the future issue trading ideas or recommendations t ations reflect the different time frames, assumptions, other trading ideas or recommendations are brought to the a has contracted direct of America Corpora f BofA Merrill Lynch. BofA Merri able materials...

…or sell any securities or other financial instrument or any derivative related to such securities or instruments (e.g, options, futures, warrants, and contracts for differences). This report is not intended to provide personal investment advice and it does not take into account...

…s an offer or an invitation to make an offer, to buy or sell any securities or to such securities or instruments (e.g, options, futures, warrants, and contracts for differences}. This report is not intended to provide bjectives, financial situation and the particular needs of any...

…eness for investment relative to other stocks wit! less positive than a stock's fundamental equity rating. Futures and options are not appropriate for all investors. Such financial instruments may expire worthless. Before disclosure documents. Investment strategies explained in t...

… disclosing a recommendation, investment rating, or investment thesis for review by an issuer prior to the rames, assumptions other trading ideas or recommendations are brought of America Corpora f BofA Merrill Lynch. BofA Merri able materials. Any unaut g personnel. BofA Mer...

…. • Having said that, uncertainty still there so buying calls and call spreads makes sense. Some investors are still skeptical. Instead of building a large cash position, we believe options are a better play in case the market reverses and initiates a risk off move again. -BAML e...

Key charts Chart 1: Synchronised rise in leading indicators globally augurs well for earnings recovery — especially if PMIs kick on to or above mid-50s 65 60 60 40 55 20 50 0 45 40 20 35 ; 40 —— (SM / Euro PMI manuf alg (advanced 9m) 30 =———=|\iSCI Europe EPS € (trailing yo...

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...

Table 10: Tax impact from taxation of accumulated overseas profits at 10%/8.75% rates (assuming mandatory tax i.e. all overseas profits are taxed) Cash taximpact ($bn) | One-time tax hit to GAAP earnings Sector Trump (10%) Blueprint (8.75%) = Trump (10%) Blueprint (8.75%) Consum...

Unauthorized redistribution of this report is prohibited. This report is intended for [email protected] GEMs Paper #26 Saudi Arabia: beyond oil but not so fast Transforming Saudi Arabia, but challenges abound The Saudi National Transformation Plan (NTP) bodes well for compre...

… is key to markets remaining calm and while equity upside may continue, it is not without higher risks • We like cheap optionality to hedge long-equities if rates continue to move sharply For investors long equities, we look at ways to cheapen protecting from downside risks in th...

Chart 13: Real labor income and private consumption Chart 14: Workers’ saving rate at all-time high 270 330 22 265 - 320 20 260 310 18 255 - 300 16 250 290 14 245 280 12 wo ico} led foe} Lo2} Q x N oO s+ wo ico} Ss 8s 8S SSESSESESESES 10 NSN SH NN YN AS NSN NS NON 2oM ODO OAM Or...

Sector Valuations Internet sector trading multiples for EV/EBITDA and P/E are tracking up slightly YTD, (excluding NFLX). Ona y/y basis, the group P/E is at 24x vs. 22x last year, while the group EV/EBITDA is at 14x vs. 13x a year ago. Chart 3: Internet Sector Historical 2-Yr F...

° 60 © 19% 50 10% 40 14% 30 5% 9% 20 os 0% 0 af a SExrLE= - cS Sb2b ts SS8288 10% n?eSesaz 1980 1984 1988 1992 1996 2000 2004 2008 2012 2016 ® Largest 4-day % changes in 10yr UST yields since 1962 @ Change measured in bps (nght) Source: BofA Merrill Lynch Global Research. Based...

…ed to lead transition strategy on financial regulation. Atkins has been vehemently critical of Dodd-Frank since its inception, and in a statement to the Senate 42 __ Global Rates, FX & EM 2017 Year Ahead | 16 November 2016 Bankof America Merrill Lynch HOUSE_OVERSIGHT_014772