Results for “Bank of America Merrill Lynch Global Research”

…management’s commentary supports gross production capacity from current discovered resource of at least 600,000 boepd. Bankof America Merrill Lynch Hess Corp. | 11 April 2017 7 HOUSE_OVERSIGHT_014879

…005 2006 2007 2008 2009 2011 2012 2013 2014 2015 2016 oO Qo N Source: BofA Merrill Lynch Global Research, Datastream Bankof America Merrill Lynch European Equity Strategy |01 December 2016 31 HOUSE_OVERSIGHT_014490

…h this masks a 85bp rally then 87bp sell- off); and the UK cost of equity is now down ytd. What Brexit, you could ask. Bankof America Merrill Lynch European Equity Strategy |O1 December 2016 25 HOUSE_OVERSIGHT_014484

…timates given visibility that barely looks past 2018. However, with first oil now likely 4 —— Hess Corp.| 11 April 2017 Bankof America “> Merrill Lynch HOUSE_OVERSIGHT_014876

…ectors. Chart 47: Relative PE - recent re / (de) rating compared to percentile ranking of latest relative multiple 30 Banks : = Ss 25 > Insurance Bs 20 ‘a Ss o 2 18 Autos FinServ * 40 Sndustriats : Construction > © Travel & Leis Technology : Retail Py @ 50 = : S N x «C0 : Telco...

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...

…39 0.5% 33 = 20% = -0.5% SX6P (Utils) 164% -10% 32% 20.6% 1.2% -10 31% 83 3.0% -11 45% = 3.3 -0.6% 0 22% = -1.1% SX7E (Banks) 33.5% -23% 16% 48.0% 2.6% -13. 82% 3.9 40% 1 1% 25 0.5% 0 37% = -1.8% SX7P (Banks) 28.2% -28% 15% 39.8% 2.2% -T 1% 46 3.8% 7 11% = 27 -0.5% 7 35% 0.0% S...

…y White Paper CONFIDENTIAL Global Sector Positioning Tech Industrials Insurance Pharma Discretionary Materials Energy Banks Staples . Substantially Telecoms underweight Utlites -40 -35 -30 -25 -20 “15 “10 5 +0 +5 +10 +15 +20 225 +30 +35 <= underweight // overweight => Sourc...

…urities are intended to stay on the list for one quarter, though some may be chosen again for the next quarter’s list. Bankof America 2 Top 10 US Ideas Quarterly | 03 January 2017 Merrill Lynch HOUSE_OVERSIGHT_014623

…, 359 U.S. 121, 136-39 (1959) (affirming power of state to prosecute defendant after a federal prosecution for the same bank robbery); United States v. Lanza, 260 U.S. 377, 384-85 (1922) (approving federal prosecution after state prosecution based on same conduct). DAVID SCHOEN 1...

…of investors’ inflation expectations while real yields a proxy for their growth 2 Cause and Effect | 13 February 2017 BankofAmerica <2” Merrill Lynch HOUSE_OVERSIGHT_014722

Higher yields leading to bank, insurance outperformance over REITs The Japanese equity market correction managed to last just for one day after the US election. The insurance sector has been the best performer since the US election on the back of a steeper US Treasury curve and...

…sere pgpeseseSESSSSSSSSS SSSSSSSSSSSSSSSSSSS + x + x x a x NNN NN x 7 x x v x v x v = + NNNNN NN N Se a Source: SAMA, Bank of America Merrill Lynch Global Research Source: SAMA, Bank of America Merrill Lynch Global Research Oil sector privatization could slow debt build-up and...

…n be naturally slowed by internal directives. Bad outflow such falling CNY deposits among foreign subsidiaries of China banks can also be managed. However, it is the inherent speculative and unstable nature of domestic capital flight that we characterize as ugly flows that poses...

Research Analysts US Banks Erika Najarian Research Analyst MLPF&S +1 646 855 1584 [email protected] Ebrahim H. Poonawala Research Analyst MLPF&S +1 646 743 0490 [email protected] Michael Liu Research Analyst MLPF&S +1 646 855 3874 [email protected] Brandon B...