REAL-TIME GLOBAL RESEARCH
Broad Outcome Matrix for R2R Legislation, but Radical Reform Unlikely
Research evidence excerpt
Broad Outcome Matrix for R2R Legislation, but Radical Reform Unlikely
ns or views expressed
in this research report.
I, Jack Ewell, certify that all of the views expressed in this research report accurately reflect my personal views about the subject security(ies) and subject
company(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed
I, Eegan McDermott, certify that all of the views expressed in this research report accurately reflect my personal views about the subject security(ies) and subject
As is the case with all Jefferies employees, the analyst(s) responsible for the coverage of the financial instruments discussed in this report receives compensation
based in part on the overall performance of the firm, including investment banking income. We seek to update our research as appropriate, but various regulations
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Investment Recommendation Record
(Article 3(1)e and Article 7 of MAR)
Recommendation Published July 14, 2026 19:14 P.M.
Recommendation Distributed July 15, 2026 11:00 A.M.
Explanation of Jefferies Ratings
Buy - Describes securities that we expect to provide a total return (price appreciation plus yield) of 15% or more within a 12-month period.
Hold - Describes securities that we expect to provide a total return (price appreciation plus yield) of plus 15% or minus 10% within a 12-month period.
Underperform - Describes securities that we expect to provide a total return (price appreciation plus yield) of minus 10% or less within a 12-month period.
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