EFTA Document EFTA01451248

On Tue, Jan 14, 2014 at 4:23 AM, Vinit Sahni wrote: Classification: Confidential Jeffrey - was looking for value in the EM space, post the PDVSA analysis, started looking at Mexico... here is a trade I think makes sense -> buying MBONO 30y unhedged At around 7.5% yield, inflation probably in the 3-4% in the foreseeable future, and uSD/MXN likely stable or stronger in real (deflated) terms, I think it is good value. The curve is steep. If you look at 10Y10Y usT and 'Waft MXN yields, the