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Concerns over stagflation return
document IMAGES-003-HOUSE_OVERSIGHT_014722.txt Oct 1, 2016 House Oversight Committee — Epstein Estate Records (Nov 2025)

… infl BE (%) Source: BofA Merrill Lynch Global Research Source: BofA Merrill Lynch Global Research We have seen price action like this before. Indeed, it was quite common during the QE period (Chart 3). However, QE is neither on the horizon nor on investors’ minds right now. So...

Preference: neutral
document IMAGES-008-HOUSE_OVERSIGHT_025262.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…es EMU; 22 Nov, flash PMI manufacturing, EMU, France and Germany; 23 Nov, Ifo business sentiment index, Germany Policy action Decisions by European politicians and the ECB affect the course of the debt crisis. Key dates: 8 Nov, ECB meeting 2 UBS Recommendations Tactical (6 m...

Unauthorized redistribution of this report is prohibited. This report is intended for amanda.ens@bam
document IMAGES-002-HOUSE_OVERSIGHT_014424.txt Mar 2, 2016 House Oversight Committee — Epstein Estate Records (Nov 2025)

…ould first lead to JPY strength on risk aversion, but eventually be the most bullish outcome for the USD/JPY. The price action last week — a shallow dip — tells us two things about the USD/PY. First, the view that a GOP sweep would boost the USD/JPY was probably more widely share...

sought to bolster Mrs. Clinton’s electoral chances and, if the unthinkable happened, obtain an
document IMAGES-009-HOUSE_OVERSIGHT_026479.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…r property, it is required to use fundamentally fair processes. The Supreme Court has made clear that when governmental action “shocks the conscience,” it violates due process. Such conduct includes investigative or prosecutorial efforts that appear, under the totality of the ci...

Best Directional Trades
document IMAGES-003-HOUSE_OVERSIGHT_014737.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…e capturing most of the upside from a bearish move. Our medium-term directional view goes with the flow of recent price action: short 5y rates, long USDJPY and short basket of LatAm long bonds. Here we make the compelling case that recent moves have a lot further to go. Bearish...

Saturday, July 6, 2019
document TEXT-001-HOUSE_OVERSIGHT_030433.txt Jul 6, 2019 House Oversight Committee — Epstein Estate Records (Nov 2025)

… of powers. That sounds lilce a waming to Marra — one he should ignore. Prosecutorial discretion doesn't maner when the action in question breaks the law. Even Pak acknowledges repeat- ethy that it hopper.. The government, he writ., "should have communicated with the victims in a...

Preference: neutral
document IMAGES-008-HOUSE_OVERSIGHT_025263.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…ording to market capitalization. Developments in commodity prices affect earnings estimates. Commodity prices Policy action Loose monetary policy by the Bank of England supports equities. Key date: 8 Nov, Bank of England policy meeting 2 UBS Recommendations Tactical (6 mon...

executing any short idea contained in this report
document IMAGES-002-HOUSE_OVERSIGHT_014395.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

action may be limited by regulations prohibiting or restricting "shortselling" in many jurisdictions. Investors are urged to seek advice regarding the applicability of such regulations prior to executing any short idea contained in this report. Foreign currency rates of exchange...

of the text messages raising such questions pertained to the Russia investigation.” Given how biases
document IMAGES-009-HOUSE_OVERSIGHT_026486.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…r property, it is required to use fundamentally fair processes. The Supreme Court has made clear that when governmental action “shocks the conscience,” it violates due process. Such conduct includes investigative or prosecutorial efforts that appear, under the totality of the ci...

emerged after World War II — the United States and the Soviet
document IMAGES-011-HOUSE_OVERSIGHT_031871.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…ound at that moment. Israel slipped through the cracks. Once the question of Jewish unity was settled through ruthless action by David Ben Gurion's government, Israel faced a simultaneous threat from all of its immediate neighbors. However, as we have seen, the threat in 1948 wa...

RE: Financials: buy XLF call spreads
email IMAGES-001-HOUSE_OVERSIGHT_011280.txt Dec 9, 2016 House Oversight Committee — Epstein Estate Records (Nov 2025)

… valuation on ‘18ests with potential upside to 2018 EPS from ~25-40% and stocks still cheap vs. discretionary. e Price action and sentiment keeps us constructive, we like the long and would expect US financials to benefit from any beta chase into year end. e Howto play it? West...

Re: Masa
email TEXT-002-HOUSE_OVERSIGHT_032507.txt Mar 3, 2017 House Oversight Committee — Epstein Estate Records (Nov 2025)

…know. https://www.nytimes.com/2o17/03/o3/business/dealbook/masayoshi-son-sprint-and-a-bet-on- the-trump-economy.html?hp&action=click&pgtype=Homepage&clickSource=story- heading&module=first-column-region&region=top-news&WT.nav=top-news Landon Thomas, Jr. Financial Reporter New Yor...

process requires—and that, in turn, depends on a consensus at the
document IMAGES-007-HOUSE_OVERSIGHT_023496.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…r: Could such a coalition achieve legitimacy in light of the universalist conceit of the NPT? Would it even contemplate action outside the treaty? But what made the 2007 Wall Street Journal article so important was not its prescription for obviously necessary measures such as en...

principles or any other criteria applicable to such statements, and (II)
document IMAGES-007-HOUSE_OVERSIGHT_022603.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…) the recorded accountability for assets is compared with the exist- ing assets at reasonable intervals and appropriate action is taken with respect to any differences; and (C) notwithstanding any other provision of law, pay the allocable share of such issuer of a reasonable an...