EFTA Document EFTA01362046

2014 Outlook Closed Trades Trade Detail Rationale Risks Opened Entry Closed Exit P/L ly 3810s conditional bearish flattener for zero premium: Buy ly3y + 25 bp payer, sell DV01 weighted 1y10y +41.5 bp payer for zero premium. The curve should bear flatten as soon the Fed tapers and front end sells off Curve steepens as rates rise 12/6/13 +212.5 bp 12/19/14 +17 bp Ok o ption Receiver spreads: Buy $100mm 2y2y ATMF/25 bp receiver spreads at 28 bp Macro data disappoints, curve