1. Be bullish on the U.S. dollar, mainly against the yen.
2. Buy Euro/U.S. dollar put spread - "Bearish flag pattern puts two year supportive lows at risk of breaking and a continued decline toward parity," the bank said.
3. Buy GBP/U.S. dollar put spread - Price charts indicate downside risks to cable in the first quarter of next year.
4. Be bullish on the S&P 500 – "Technical breakout and retest pattern has upside potential initially to 2,300 and 2,400-2,425 in 2017," BoA Merrill Lynch said in the report.
5. Be bullish on European Banks – after years of low yields, European banks are set to benefit from an increase in U.S. bonds.
6. Be bearish on bonds – With yields expected to pick up throughout 2017, the price of bonds will move down.
7. Sell the FTSE against JSE (Johannesburg Stock Exchange) and focus on USD/ZAR (South African Rand) "as it approaches a major 5 year long supportive trend line."
8. Buy WTI – Oil prices are set to pick up throughout 2017 as OPEC and non-OPEC members implement an output cut deal.
9. Buy HSCEI (Hang Seng China Enterprises Index) – The Hong Kong Stock Exchange is set to benefit from higher yields.
10. Lastly, buy a copper pullback – After a rally in the last quarter of 2016, BoA Merrill Lynch believes there will be a correction in the new year.
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