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Extraction Summary

3
People
7
Organizations
3
Locations
3
Events
1
Relationships
4
Quotes

Document Information

Type: Financial research report / market strategy document
File Size:
Summary

This document is page 13 of a 'Global Cross Asset Strategy – Year Ahead' report by Bank of America Merrill Lynch, dated November 30, 2016. It outlines financial trading strategies, specifically advocating for shorting UK real rates and going long on the US Dollar while shorting GBP, AUD, and CNH. The text analyzes the policies of the Bank of England, Governor Carney, and the impact of the US election and Brexit on currency markets. The document bears a 'HOUSE_OVERSIGHT' stamp, indicating it was part of a document production for a congressional investigation, though this specific page contains no direct mention of Jeffrey Epstein or his associates.

People (3)

Name Role Context
Governor Carney Governor of the Bank of England
Mentioned regarding monetary policy views and potential replacement in 2018.
PM Prime Minister (UK)
Mentioned as needing to replace the Governor at the end of 2018.
Chancellor Chancellor of the Exchequer (UK)
Mentioned as needing to replace the Governor at the end of 2018.

Organizations (7)

Name Type Context
Bank of America Merrill Lynch
BOE
Bank of England
MPC
Monetary Policy Committee of the BOE
Conservative party
UK political party mentioned in relation to criticism of Governor Carney.
Fed
Federal Reserve (US)
Bloomberg
Source for Charts 21 and 22.
House Oversight Committee
Implied by the document stamp 'HOUSE_OVERSIGHT_014444'.

Timeline (3 events)

2016-11-08
US election
US
2017
Brexit uncertainties / Article 50 decision
UK
2018
Expected replacement of Governor Carney
UK

Locations (3)

Location Context
US
Mentioned in relation to nominal rates, election, and currency (USD).
UK
Mentioned in relation to real rates, inflation, and currency (GBP).
Mentioned as a risk factor (CNH).

Relationships (1)

Governor Carney Political Tension Conservative party
those on the right of the Conservative party who have been critical of Governor Carney

Key Quotes (4)

"Rates – short 5Y US nominal and 10Y real rates, short 5Y UK real rates"
Source
HOUSE_OVERSIGHT_014444.jpg
Quote #1
"FX – long USD, short GBP, AUD, CNH"
Source
HOUSE_OVERSIGHT_014444.jpg
Quote #2
"When the PM and Chancellor have to replace the Governor at the end of 2018 it is unlikely that they are going to choose someone more dovish."
Source
HOUSE_OVERSIGHT_014444.jpg
Quote #3
"We think the FX and Fixed Income strategists are right to think of the dot plot as a floor now for markets."
Source
HOUSE_OVERSIGHT_014444.jpg
Quote #4

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