Results for “BofA Merrill”

…plied vol NDX - SPX 3M ATM implied vol spread (right) Daily NDX return / trailing (EWMA) vol 1 ——— 17-May-17 Source: BofA Merrill Lynch Global Research. Daily data from 4-Feb-85 through 2-Jun-17. Source: BofA Merrill Lynch Global Research. Daily data from 17-Jun-09 through 2-J...

…alified as a research analyst under the FINRA rules. Refer to "Other Important Disclosures" for information on certain BofA Merrill Lynch entities that take responsibility for this report in particular jurisdictions. BofA Merrill Lynch does and seeks to do business with issuers...

…ec-15 China recession Nov-15 China recession Oct-15 China recession 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% Source: BofA Merrill Lynch Global Research Tail risk 1: US deregulation Normalized swap spreads, cross-currency basis & coupon vs principal STRIPS Deregulation is a k...

…11 2012 2013 2014 2015 2016 === China FX reserves, USDbn === USDICNY 1Y rolling standard deviation, pips (RHS) Source: BofA Merrill Lynch Global Research, Bloomberg 32 Global Rates, FX & EM 2017 Year Ahead | 16 November 2016 Bankof America Merrill Lynch HOUSE_OVERSIGHT_014762

…er fiscal consolidation measures (VAT, etc) Likely forthcoming Direct and indirect negative impact on consumer Source: BofA Merrill Lynch Global Research Chart 25: Private sector average monthly wages are increasing Chart 26: Wedge between Saudi and non-Saudi private sector sal...

… in regulatory burden to bank returns will be more gradual than what financial stocks are currently pricing in Source: BofA Merrill Lynch Global Research = CCAR a product of regulatory attitude: The panelists agreed that CCAR in its current form is not a result of legislation a...

…ntested credit Fragile funding model Uncertain regulatory competitive advantage model/risk backdrop management Source: BofA Merrill Lynch Global Research = Panelists agreed that flexible funding models that utilized both balance sheet lending and distribution of loans were impo...

… the investment alpha / process efficiency, organization revenue growth risk management, regulatory compliance Source: BofA Merrill Lynch Global Research Chart 85: After this conversation, have you changed your mind on how financial institutions are adopting big data in their...

… 2 io oO = oo] ® a S&P 500 ex. Fins. & Real Estate* Note: Overseas cash based on company disclosures where available, BofAML analyst estimates, and BofAML US Equity & Quant Strategy estimates using overseas sales as a guide where the former two were not available. For some comp...

…ales Other LT Liabilities EV/ EBITDA Enterprise Value Basic EBIT + Depreciation + Amortization iQnethod™is the set of BofA Merrill Lynch standard measures that serve to maintain global consistency under three broad headings: Business Performance, Quality of Earnings, and valida...

…7 27,295 25,834 DACF 2,321 1,127 2,150 3,045 3,602 4291 9,132 Forward EV / DACF 23.3x 12.7x 9.3x 79x 6.5x 5.3x Source: BofA Merrill Lynch Global Research BofAML US 1 list The BofAML US1 list is a collection of the firm’s best investment ideas managed with the goal of providing...

…urce: U.S. Senate Permanent Subcommittee on Investigations survey (for Top 15 repatriating stacks), FactSet, Bloomberg, BofA Merrill Lynch US Equity & US Quant Strategy stacks), FactSet, BofA Merrill Lynch US Equity & US Quant Strategy Post-repatriation cash use: will this time...

…%) 2% 4 poy! 5% 1.5% 2.0% whe “£L, 0 Oh EPR HBR EBERLE RRL Aare Soozeyrzyan x BEPSESRES22SHES SSG6S2S5656803N2 Source: BofA Merrill Lynch Global Research Source: BofA Merrill Lynch Global Research Bankof America Merrill Lynch Global Rates, FX & EM 2017 Year Ahead | 16 Novembe...

…eds 12,491 6,102 37.371 = % private hospitals m% private beds = % hospitals Beds/hospital 154 133 132 1% beds Source: BofA Merrill Lynch Global Research, Ministry of Health Source: BofA Merrill Lynch Global Research, Ministry of Health Hospital quality would be key to attracti...

… slower financing certain rental price activity next year metrics activing and points worsening credit metrics Source: BofA Merrill Lynch Global Research Regions Financial (RF), B-2-7, Neutral Regions harnessing consumer to drive growth: Scott Peters, Senior EVP and Consumer Se...