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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)

…15x 10x 5X 5x Ox Ox Mar-12 Mar-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; S...

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document IMAGES-002-HOUSE_OVERSIGHT_014311.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…4 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 on daily data since 1962. —— 4-day return of a 30yr UST futures investment ee 14-Nov-16 Source: BofA Merrill Lynch Global...

Fwd: White House exploring VAT (Washington Post)
email TEXT-001-HOUSE_OVERSIGHT_014857.txt Apr 4, 2017 House Oversight Committee — Epstein Estate Records (Nov 2025)

…owth. But the prospect of any new taxes has long drawn skepticism from Republicans. Amanda Ens Director Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated One Bryant Park, 5th Floor, New York, NY 10036 HOUSE OVERSIGHT 014858 <!--[if !vmI]--> Bank of...

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)

…ives - relative price vs 52wk average (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 b...

Chart 27: 3% Global GDP growth the tipping point for EPS
document IMAGES-002-HOUSE_OVERSIGHT_014471.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…40 -40% 6 30 60 “50% “1% 01/98 01/01 01/04 01/07 O10 0113 01/16 Q496 Q499 Q402 Q405 Q408 Q411 Q414 Q417 Source: BofA Merrill Lynch Global Research, Datastream, IBES MSCI Europe 12m trail EPS (IBES) ———World GDP (right) =———|SM / Euro PMI manuf avg (advanced 9m) =———|MSCI Eur...

Chart 80: Stocks mostly trade above ex-pipeline value
document IMAGES-003-HOUSE_OVERSIGHT_014494.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…t stocks 20% 15% 5% -5% -15% -14% 16% — -16% 25% Boe -35% mPremium/(Discount) to ex pipeline DCF Source: BofA Merrill Lynch Global Research Overweight Utilities Chart 81: Growth from new products - $138bn launching 16-20E Peak unrisk-adjusted sales potential (USDm) of...

Chart 7: Cumulative Japanese purchases of foreign bonds since 2010
document IMAGES-003-HOUSE_OVERSIGHT_014734.txt Jan 1, 2010 House Oversight Committee — Epstein Estate Records (Nov 2025)

…ds since 2010 900 800 700 600 500 400 300 . 200 100 0 -100 1/1/2010 7/1/2011 1/1/2013 71112014 1/1/2016 Source: BofA Merrill Lynch Global Research Chart 8: USD/JPY 10y forward outright 100 95 90 85 80 75 70 65 60 55 50 1/1/2010 5/1/2011 8/4/2012 = 1/1/2014) 5/1/2015 = 9/1/2...

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)

… Insurance 36 0 94 Chemicals 19 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% relativ...

interest tax shield later in this report). Deleveraging balance sheets may also be spurred
document IMAGES-007-HOUSE_OVERSIGHT_023078.txt Jan 17, 2017 House Oversight Committee — Epstein Estate Records (Nov 2025)

…P/E 16.7 22.0 Median Fwd P/E 16.2 173 PIB 28 29 EV/EBITDA 11.6 W7 PIS 15 20 EviSales 2.2 23 Source: FactSet, S&P, BofA Merrill Lynch US Equity & US Quant Strategy Exhibit 1: BofAML Global Fund Manager Survey (January 2017): What would you most like to see companies do with cash...

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)

…PY(RHS) —_USDJPY carry / 3m implied 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 uncertain...

Article 1. The Cairo Review of Global Affairs
document TEXT-001-HOUSE_OVERSIGHT_030531.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

 20 April, 2011 Article 1. The Cairo Review of Global Affairs The Israeli-Palestinian Conflict Now William B. Quandt Article 2. Foreign Policy The United States' heavy-handed efforts to help Israel at the U.N. Colum Lynch Article 3. The Washington Post Time to up the ante on Eg...

Jeffrey Epstein [[email protected]]
email TEXT-001-HOUSE_OVERSIGHT_029692.txt Feb 14, 2013 House Oversight Committee — Epstein Estate Records (Nov 2025)

From: Sent: To: Article 1. Jeffrey Epstein [[email protected]] 2/14/2013 8:47:12 PM Larry Summers Washington Post Obama to make first trip to Israel, part of a potential 'new beginning' with region Scott Wilson President Obama will travel to Israel and the occupied Palestinia...

Department of Economics, Harvard University, v. November 9,2009
document TEXT-001-HOUSE_OVERSIGHT_019396.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Department of Economics, Harvard University, v. November 9,2009 Economics 1545: International Financial and Macroeconomic Policy Professor Kenneth Rogoff Time and Place: Fall 2009; M, W, 1-2:30 pm., Sever Hall 203 Office Hours: Littauer Center 216. Mondays 3-4 PM, or by appointme...