Merrill Lynch
Merrill Lynch
Merrill Lynch Wealth Management is the wealth management division of Bank of America. The firm is headquartered in New York City, and occupies the entire 34 stories of the Four World Financial Center building in Manhattan. Merrill Lynch employs over 15,000 financial advisors and manages $2.2 trillion in client assets...
absence assets auto exception further gm items questions remain sales turnaround underlying
Questions remain about the sustainability of the turnaround at Fiat Auto and profitability of underlying business, in the absence of further exception items (like assets sales and the GM one off gain).
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PSA will replace nearly one third of its model line-up in 2006, which should drive more rapid volume growth in 2006 than the pedestrian level reached in 2005.
changes driving industry profound
Technology, demographics and industry consolidation are driving profound changes in the private-client business.
basically wish
(They are) basically doing all the right things. This is a bull's wish list.
bonds both coming major market outcome reflected seemingly stocks
This outcome was the likeliest coming in and already seemingly reflected in markets; both bonds and stocks may be marginally disappointed (for different reasons), but there are no major market implications, in our view.
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Compass' statement should be a relief to the market as trading appears to be in line with expectations.
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Our marketing plans do not call for us to refer to the university in any way nor do we have any intention of using the reputation of the university to promote the brand.
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In our view, the risk of negative ruling was largely factored into market expectations with the timing of a generic launch being the main issue.
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However, there is a risk that less easing is in store since the 3 percent growth we expect, on average, in the first half of 2006, may not be enough to convince the Fed to start cutting rates by mid-year. Thus there is a risk that the yield curve remains inverted for longer than we have built into our forecast.
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This is in line with the market consensus, but we think there will be a surprise that the guidance is not disappointing in the light of France Telecom and previous experiences with KPN.
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We remain bullish on gold over the medium to long term and believe that the arguments for gold outweigh the arguments against.
change survey tone
There is an unmistakable change of tone in the survey this month.
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Recent disruptions of crude oil production in Nigeria and tensions between the West and Iran over its nuclear program... have contributed to concerns about OPEC's ability to supply the market.