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Document Information

Type: Financial research report / investigation evidence
File Size: 2.18 MB
Summary

This document is page 5 of a 'Global Equity Volatility Insights' report produced by Bank of America Merrill Lynch on June 6, 2017. It provides a technical analysis of the stock market, specifically focusing on the Nasdaq and Tech stocks, discussing volatility, valuations, and comparisons to historical asset bubbles. The document bears the Bates stamp 'HOUSE_OVERSIGHT_023579', indicating it was collected as evidence during a House Oversight Committee investigation, likely related to financial institutions' dealings with Jeffrey Epstein.

Timeline (2 events)

2017-05
Nasdaq recorded its longest streak of monthly gains since 2009.
Global Markets
2017-05-17
Outsized sell-off seen in Tech stocks; -2.5% drop in the NDX.
Global Markets

Key Quotes (2)

"In our view, at least for now, the spread widening is more of a response to the outsized sell-off seen in Tech stocks on 17-May rather than the volatility market trying to price in the onset of another Tech Bubble."
Source
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Quote #1
"Indeed, the -2.5% drop in the NDX on 17-May was a six standard deviation (6σ) event relative to trailing realized volatility... even more extreme than the 5σ decline experienced by the S&P."
Source
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Quote #2

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