EFTA01453907

From: Tazia Smith Sent: 4/23/2014 9:29:19 AM To: Paul Morris Subject: Fw: Reminder: send idea to JE on WY III Classification: For internal use only FYI... Forwarded by Tazia Smith/db/dbcom on 04/23/2014 09:28 AM From: Tazia smith/db/dbcom To: Vinit mav Date: 04/23/2014 09:28 AM Subject: Re: Reminder: send idea to JE on Wit [I] Classification: For internal use only I don't think he "needs to buy" anything. I just don't want May 1 to come and we didn't update him on his expiring option and our thoughts about the SY cross. Did you send him your thoughts below? As much as I am on the same page with your thoughts here, JE does not want to hear it from me. Please send. From: Vinit To: Nay Cc: Tazia Date: 04/22/2014 01:49 PM subject: Re: Reminder: send idea to 7E on 7PY [I] Agree with u nay. The next jpy leg probably a usd play as the boj will step in may wait till summer or end summer. Too early for a usd trade to materialise. If the markets continue to rally we could see 103 handle and if payrolls strong a possible breakout vinit On 22 Apr 2014, at 18:13, "Nay Gupta" < > wrote: Classification: For internal use only Conclusion If there is a short term catalyst for SY to breakout in either direction I don't see it. If anything, 8o) looks like it will disappoint speculators in July by not adding any additional QE. CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 111761 CONFIDENTIAL SDNY_GM_00257945 EFTA01453907