EFTA Document EFTA01455454

recovered more slowly after the summer selloff and have lagged both ends of the credit spectrum ie bank equity and snr debt. a typical french bank tl coco like socgen in usd perp callable in 2018 yields 6.60% mid. same credit ud perp callable in 2023 yields 7.40 mid id go for the 4y Japan - dont like the the play some investors are making buying payer swaptions to position for higher interest rates. Bo) will go down the same path as ecb and take rates -ve to encourage spending. nikkei risk reversals could make sense. cc'd Uzair who just joined the team. former trader and hf strategist. Nay From: Paul morris/db/dbcom@DBAmuicAs na: Date: 09/09/2014 14:30 Subject: epstein [1] Classification: For internal use only hi, any ideas? what are you showing clients? more euro yen?? Paul Morris Managing Director Deutsche Bank Private Bank 345 Park Avenue, 27th Floor New York NY 10154 Office: cell: CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0114220 CONFIDENTIAL SDNY_GM_00260404 EFTA01455454