EFTA Document EFTA01452861

Original Message From: Nav Gupta Sent: 03/05/2014 01:02 PM GMT To: Tazia Smith; Subject: usdcad u ate or JE I Classification: For internal use only three points ; Vinit Sahni 1. commodity px are much higher - bullish cad 2. CAD 2y swap rate higher (not lower as i had expected) vs us rates compared to 2mths ago - bullish cad (Embedded image moved to file: pic01426.gif) canada still has v vulnerable housing sector and several high profile clients have been exiting canadian risk (pimc