EFTA Document EFTA01474231

Subject: RE: Cnh trade [C] From: Vahe Stepanian Date: Tue, 11 Aug 2015 09:41:02 -0400 To: Richard Kahn Cc: Daniel Sabba Paul Morris Ariane Dwyer Classification: Confidential Hi Rich - just tried callin you to discuss. Please give me a call at your convenience @ Thank you, Vahe From: Richard Kahn [mailto: Sent: Tuesday, August 11, 2015 9:30 AM To: Vahe Stepanian Cc: Daniel Sabba Subject: Re: Cnh trade [C] Please explain as my understanding is that when cnh weakens this increases