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The old joke is that Year Aheads are frequently out of date by the end of year they are
document IMAGES-002-HOUSE_OVERSIGHT_014463.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…inancials vs Defensives relative 0.45 0.75 0110 «011 O12 0130114 OMS = 0116 0110 «011 O12 013 0114 = 0115 01/16 Source: Bloomberg Source: Bloomberg Moreover, in 2016 we doubt that even if investors had known the results of key events that they would necessarily have got the reac...

Fwd: Search for next FBI director moves ahead quickly
email TEXT-001-HOUSE_OVERSIGHT_025643.txt May 15, 2017 House Oversight Committee — Epstein Estate Records (Nov 2025)

…15) Price predicts Senate AHCA vote before Aug. The Hill (5/12) Senate to look at mechanisms for infrastructure funding Bloomberg BNA (free DATA POINTS Consumer retail activity up in April Retail sales increased by 0.4% in April, while the consumer-price index increased by 0.2% d...

Re: Search for next FBI director moves ahead quickly
email TEXT-001-HOUSE_OVERSIGHT_025655.txt May 15, 2017 House Oversight Committee — Epstein Estate Records (Nov 2025)

…15) Price predicts Senate AHCA vote before Aug. The Hill (5/12) Senate to look at mechanisms for infrastructure funding Bloomberg BNA (free content) (5/12) DATA POINTS Consumer retail activity up in April Retail sales increased by 0.4% in April, while the consumer-price index inc...

Chart 1: USDJPY vs yield spread Chart 2: USDJPY carry* gradually inching up
document IMAGES-002-HOUSE_OVERSIGHT_014425.txt Feb 10, 2016 House Oversight Committee — Epstein Estate Records (Nov 2025)

…plied vol (RHS) US-Japan 10yr real yield spread (LHS) e==== USD/JPY (RHS) Source: BofA Merrill Lynch Global Research, Bloomberg Source: BofA Merrill Lynch Global Research, Bloomberg *Using 3m deposit rate JPY sellers > JPY buyers While uncertainty is high, what is more certai...

The J.P. Morgan View: Local forces are dominating
email TEXT-001-HOUSE_OVERSIGHT_030844.txt Mar 29, 2013 House Oversight Committee — Epstein Estate Records (Nov 2025)

From: [email protected] To: Undisclosed recipients:; Subject: The J.P. Morgan View: Local forces are dominating Sent: 3/29/2013 8:48:11 PM Attachments: JPM_The J.P. Morgan View_2013-03-28_1084792.pdf Global Asset Allocation ________________________________ The J.P. Morgan V...

The J.P. Morgan View: Local forces are dominating
email TEXT-001-HOUSE_OVERSIGHT_031114.txt Mar 29, 2013 House Oversight Committee — Epstein Estate Records (Nov 2025)

From: [email protected] To: Undisclosed recipients:;; Subject: The J.P. Morgan View: Local forces are dominating Sent: 3/29/2013 8:48:11 PM Attachments: JPM_The J.P. Morgan View_2013-03-28_1084792.pdf Global Asset Allocation ________________________________ The J.P. Morgan...

Breaking Down Democracy
document TEXT-001-HOUSE_OVERSIGHT_019233.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…icles/illiberal-democracy-spreads-to-poland-1465413404. 16. Noah Feldman, “Poland’s New Leaders Take Aim at Democracy,” Bloomberg View, December 31, 2015, https://www.bloomberg. com/view/articles/2015-12-31/poland-s-new-leaders-take-aim-at-democracy. 17. Alison Smale and Joanna B...

Historic energy sector liberalization
document IMAGES-003-HOUSE_OVERSIGHT_016120.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…ive market share strategy, in our view. Privatization of energy sector could start by 2018 In a recent interview with Bloomberg, Saudi Deputy Crown Prince Mohammed bin Salman outlined an array of measures the Saudi government could introduce to help diversify the economy, reduc...

DXJ ETF shares outstanding remain at 3 year lows
document IMAGES-002-HOUSE_OVERSIGHT_014398.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…45 1 Low on 11/14/16 0.153M 0.156M 2014 2015 D050 Index (WT JAPAN DVD FUND SH OUT) Daily 19N0V2015-1L7NOV20LE Source: Bloomberg 2016 Copyright® 2016 Bloomberg Finance L.P. L¥-Nov-20L6 14:07:06 YTD net foreigner Japanese Equity flows: Wi Last Price -57555.8 T High on 12/04/1...

Internet sector trading multiples for EV/EBITDA and P/E are tracking up slightly YTD
document IMAGES-003-HOUSE_OVERSIGHT_014892.txt Apr 4, 2017 House Oversight Committee — Epstein Estate Records (Nov 2025)

…r-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Source: BofA Merrill Lynch Global Research, Bloomberg, as of 4/4/2017 Source: BofA Merrill Lynch Global Research, Bloomberg, as of 4/4/2017 Large cap receiving a premium; Small caps at the low-end of his...

of regulations, many of them unwritten. A 2017 report by the Foreign Correspondents’
document IMAGES-006-HOUSE_OVERSIGHT_020552.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…s in a timely manner have been common. There is some indication that China’s pressure tactics have paid off. In 2013, Bloomberg News was preparing to publish a report detailing connections between one of China’s richest men and members of the Politburo—the top organ in the Chin...

then you’ll know that was a pretty dumb decision,”’ he said. If
document IMAGES-007-HOUSE_OVERSIGHT_023566.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…from Ben Steverman and Carolina Wilson. To contact the reporters on this story: Simone Foxman in New York at sfoxman4@bloomberg.net; David Carey in New York at dcarey13@bloomberg.net To contact the editors responsible for this story: Margaret Collins at mcollins45@bloomberg.n...

were underweight at the start of the year too and missed the lows. We recognized we
document IMAGES-002-HOUSE_OVERSIGHT_014464.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…verage (SD) Cyclicals vs Defensives - relative price vs 52wk average (SD) Source: BofA Merrill Lynch Global Research, Bloomberg Source: Re BofA Merrill Lynch Global Research, Bloomberg place this text In fact your best guide to this year was to buy something when it has overso...

recent price action for individual assets. However, the fact that we have had multiple
document IMAGES-003-HOUSE_OVERSIGHT_014481.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

… 08 Banks 16 8 94 Construction 2.0 12 Basic Resources 9 7 100 Basics 27 22 Source: BofA Merrill Lynch Global Research, Bloomberg Chart 45: Basic Resources 4" overbought signal this year — previous pullbacks last 4-8 weeks and averaged -11% relative Source: BofA Merrill Lynch G...