From: Jeffrey Epstein <[email protected]>

From: Jeffrey Epstein <[email protected]> To: Jeffrey M Matusow Subject: Re: Update Date: Thu, 03 Jun 2010 00:46:30 +0000 I think we should see a HIGHER EURO< be careful.. lets look at closing the portion in both euro and pound. On Wed, Jun 2, 2010 at 6:05 PM, Jeffrey M Matusow > wrote: Nice recovery in the market today. S+P rallied at the end of the day to close up 28 points (Dow up 225 pts) Euro closed at the high - 1.2250. GBP holding its gains at 1.4650. JPY weaker at 92.20 on the resignation of the PM. The Dividends finished up a few points. 2011 at 97 and 2012 at 92. Goldman issued a report recommending clients buy both 2011 and 2012 - they see limited downside from here, even under worst case scenarios. GS up S3 at S144.85. OIL closed marginally higher at $73.60 Swap rates higher on the rally in the equity markets. I still think we should add to our Euro short. We are dipping our toes back into risk trades - buying CAD, Selling 4% swaptions, buying BRL. Call me tomm. Jeff Jeffrey M. Matusow JPMorgan Private Bank I 40 West 57th Street, 33rd Floor, New York, NY 10019 Work: I Fax: Email: IRS Circular 230 Disclosure: JPMorgan Chase & Co. and its affiliates do not provide tax advice. Accordingly, any discussion of U.S. tax matters contained heroin (including any attachments) is not intended or written to be used, and cannot be used, in connection with the promotion, EFTA00892133 marketing or recommendation by anyone unaffiliated with JPisdlorgan Chase & Co. of any of the matters addressed herein or for the purpose of avoiding U.S. tax-related penalties. This email is confidential and subject to important disclaimers and conditions including on offers for the purchase or sale of securities, accuracy and completeness of information, viruses, confidentiality, legal privilege, and legal entity disclaimers, available at http://www.jpmorgan.com/pages/disclosures/email. The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of Jeffrey Epstein Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected], and destroy this communication and all copies thereof, including all attachments. EFTA00892134