Results for “PT Merrill Lynch Indonesia”

regulated by the Financial Services Agency; Merrill Lynch (Seoul): Merrill Lynch International

regulated by the Capital Markets Board of Turkey; Merrill Lynch (Turkey Broker): Merrill Lynch Menkul

regulated by the Securities and Futures Bureau; DSP Merrill Lynch (India): DSP Merrill Lynch Limited

regulated by the Dubai Financial Services Authority (DFSA); Merrill Lynch (Spain): Merrill Lynch Capital Markets Espana

…Any security which is removed will not be replaced. If there are any changes to the list during the quarter we will promptly publish a note explaining the change. Securities are intended to stay on the list for one quarter, though some may be chosen again for the next quarter’s l...

regulator): Merrill Lynch (South Africa): Merrill Lynch

…nderperform on Retail. Structural margin pressures: Aside from Brexit, retailers face declining returns as online disruptors and discounters drive up competition. EBITDA margins have fallen from 8% in 2010 to close to 7% in 2016 and RoE has declined by nearly 3% since 2004. We t...

…}US K ENERGY $ 10% —r9 OHGREAL ESORETAKNEISTES 8 UK DIV FINS $ a -30% / U UK PHIBIO L SCI$ UK TICMBVS $ ees RS TRANSPT $ Performance since Brexit (%$ in USD) 40% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% % International Sales exposure Source: BofA Merrill Lynch Global Re...

…DACF Source: BofA Merrill Lynch Global Research estimates Source: BofA Merrill Lynch Global Research estimates Our assumptions include a likely project sanction of the first phase ‘early production system’ at the Liza discovery in 2Q17. However, based on discovered oil to date th...

Global Cross Asset Strategy —- Year Ahead Bankof America The Trump inflection ape ce Investment Strategy 30 November 2016 Corrected Key takeaways ee « Market response to Trump is logical but moves have been frontloaded. We now see USD & rates only modestly higher next year. Jam...

Overall, we find it hard to argue that sectors haven’t moved a long way already from a valuation perspective, even against the context of potentially important inflection points in bond yields and earnings. From here we suspect investors may need to more selective in how they pla...

Concerns over stagflation return On the surface, this has been an uneventful year for the US rates market so far. At the start of January, the market was pricing two Fed hikes for the year. Six weeks later, the market is still pricing only two Fed hikes for the year. The yield o...

Unauthorized redistribution of this report is prohibited. This report is intended for [email protected] Japan Macro Watch USD/JPY: Buy-on-dip cycle to continue; 115- 120 by end-2017 Buy-on-dip cycle continues While we had acknowledged the risk of the “final JPY strength” th...

…tter chance to be included into the JPM GBI-EM Global/Diversified index. While the exact timing is hard to predict, an optimistic scenario possibly leaves 2H17 on the table. Usually when a big country is being included, bonds are introduced slowly over many months to enable clien...

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