…n real yields / inflation breakevens (since 2009) Bund real >+0, b/even +ve Source: BofA Merrill Lynch Global Research, Bloomberg Bund real >+0, b/even -ve Chart 3: Cyclicals vs Defensives trade now looks very stretched 4 3 2 1 0 -1 -2 -3 -4 Dec-97 Dec-01 Dec-05 Dec-09 Dec-13 Cyc...
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…Aug-16 Sep-16 Oct-16 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Source: Bloomberg Source: Bloomberg 4 Global Cross Asset Strategy – Year Ahead | 30 November 2016 Chart 3: EM debt and equity have been hit Chart 4: While Banks versus...
…head EPS ($0.49) ($0.60) Ahead YELP Revenue $201 $198 EPS $0.18 $0.16 Ahead Source: BofA Merrill Lynch Global Research, Bloomberg, as of 4/4/2017 Internet/e-Commerce | 06 April 2017 3 Our 2017 estimates vs. street Of the 25 Internet stocks listed below in our coverage, we are abo...
… Cap (mn) $44,657 Price $124.45 P/E (2017) 14.4x % of sell-side rated Buy 70.0% Short interest % of float 2.25% Source: Bloomberg and BofA Merrill Lynch Global Research estimates Deregulation/Gov’t Legislation: Repeal and Replace of the ACA creates some uncertainty, but neither A...
…s, 3-month moving averages) 65 60 55 50 45 Manufacturing Services 40 Composite No-change line 35 08 09 10 11 12 Source: Bloomberg, UBS CIO, as of September 2012 Note: Past performance is not an indication of future returns. *Scenario probabilities are based on qualitative assessm...
…heduling inquiries to my office at: Follow me on twitter glhsummers www.larrysummers.com Begin forwarded message: From: Bloomberg <noreply@mail.bloombergbusiness.com> Date: November 21, 2018 at 4:46:50 PM EST To: Subject: China's dangerous test Beijing plans to give its 22 millio...
…16 May-16 Aug-16 Nov-16 US-Japan 10yr real yield spread (LHS) USD/JPY (RHS) Source: BofA Merrill Lynch Global Research, Bloomberg USDJPY (RHS) Source: BofA Merrill Lynch Global Research, Bloomberg *Using 3m deposit rate USDJPY carry / 3m implied vol (RHS) JPY sellers > JPY buyers...
…SIGHT 029344 $20 18 16 14 12 10 6 4 2 1_ Dec 27. '13 1. Valhi Inc Feb 12, '14 Mar 28, '14 May13. '14 Jun 26, '1 Source: Bloomberg Oh.6 The stock closed yesterday at $6.01, reducing the value of the estate's holdings by $2.8 billion -- and its estate-tax liability by $1.1 billion...
…3 . 7.6% INDONESIA 2.5% 5.6% 5.3% 1.3% 3.5% 29.9 6.8% MALAYSIA 24% 5.1% 4.6% 1.7% 2.1% 28.2 17.9 3.8% SOURCE MSCI*ASOF BLOOMBERG BLOOMBERG IMF/ BLOOMBERG CIAWORLD MSCI/ BLOOMBERG MAY 31, 2017 BLOOMBERG FACTBOOK BLOOMBERG 89.7% MEDIAN AVERAGE Sources: Bloomberg, IMF, CIA World...
…d=3646186§ion_url=flipboard%3A%2F%2FshowSection%2Fresolve%252Fflipboard%252Furl%25252Fhttps%25253A%25252F%25252Fwww.bloomberg.com%25252Fnews%25252Farticles%25252F2019-07-05%25252Ftrump-mulls-executive-order-to-add-citizenship-query-to-census&utm_content=article&utm_source=ema...
…d=3646186§ion_url=flipboard%3A%2F%2FshowSection%2Fresolve%252Fflipboard%252Furl%25252Fhttps%25253A%25252F%25252Fwww.bloomberg.com%25252Fnews%25252Farticles%25252F2019-07-12%25252Ftop-chefs-say-these-are-the-foods-you-should-be-grilling%25253Fsrnd%25253Dpursuits-vp&utm_content...
…enced to two years probation and a $100,000 fine. See Eli Lake, “Petraeus, Justice and Washington’s Culture of Leaks,” Bloomberg View, March 4, 2015 http://www.bloombergview.com/articles/2015-03-04/petraeus-justice-and-washington-s-culture-of-leaks 10. In an interview...
…rg) ..... 1.35 1.30 ------- 1.25 1.20 1.15 Law-; 1.1171 .............. 1.10 Dec Mar Jun Sep 2015 2026 Copyright: 201.6 Bloomberg Finance L.P. 17-Nov-2016 13:41:34 Source: Bloomberg HOUSE OVERSIGHT 014397 DXJ ETF shares outstanding remain at 3 year lows. CI • Last Price 0.156N1 -...
…nd Ezequiel Aguirre Chart of the day: MXN may be as much as 15% undervalued Source: BofA Merrill Lynch Global Research, Bloomberg Trump’s effect on MXN We provide an empirical analysis of Donald Trump’s effects on the Mexican peso. Our analysis suggests the exchange rate is perha...
… Black's Tax-Overhaul Dilemma Could Alter Wall Street Model 2017-12-27 11:00:00.2 GMT By Simone Foxman and David Carey (Bloomberg) -- Leon Black recently posed a question whose answer will determine how profitable the new U.S. tax regime could make Wall Street firms like his Apol...