Text extracted via OCR from the original document. May contain errors from the scanning process.
Cc: Paul Morris <
>, Vinit Sahni <
Inline-Images: unnamed; unnamed(1)
Classification: Confidential
Jeffrey - Left you a voicemail as well. I will refresh first thing Monday morning and call you with the level (USD value like
below).
Or please let me know if I can unwind at a limit and I'll move forwardlwork accordingly.
Front
Tazia Smithrdb/dbcom
To:
'Jeffrey Epstein' leevacation@gmail.com>. Vinit SahniMb/dbcom©DBEMEA.
Cc:
Paul Morrisklbidbcom@DBAMERICAS
Dale:
01/24/2014 03:26 PM
Subject:
Re: Jeffrey - quit* update on Mexico and markets IC)
Classification: Confidential
Jeffrey -
You're down -$170,700 on the position. We can still unwind today. Let me know
Indicative bid on the bonds is 100.0 and spot ref on currency is 13.445.
Tazia Smith
Director I Key Client Partners - US
Deutsche Bank Securities Inc
Deutsche Asset & Wealth Management
345 Park Avenue, 26th Floor
New York. NY 10154
Tel.
Fax
Mobile
Email
Pan-to-p.:1-u Peiftrein
EFTA01149252
From:
Unit Sahniklb/dbcom©DBEMEA
To:
'Jeffrey Epstein" <jeevacation©gmail.com>.
Cc:
Paul Mortisidb/dbcom©dbameticas. Tazia Smithiclb/dbcomgdbamericas
Dale:
01/2412014 03:18 PM
Subject:
Re: Jeffrey - quick update on Mexico and markets
Sure was last when I was in the office down about I50k.
Tazia - can u pls help Jeffrey I am at a dinner nowhere close to any screens. Can u get an update where the
market is now.
Vinit
On 24 Jan 2014, at 20:01, "Jeffrey Epstein" <jeevacationggmail.com> wrote:
in the future and for all time i need dollar amounts not percentages. does not tell me much, I see no reason not
to take loss and get in at better level.s. TAKE QUICK LOSSES is and will alwyas me my direction
On Fri, Jan 24, 2014 at 6:25 AM, Vinit Sahni <
wrote:
Classification: For internal use only
Jeffrey - quick update, market is long and hurting here. EM driving a risk off move here. Positioning is
very skewed here and there is pain on the street in Credit Equities Rates and FX. Itraxx main has
moved 8bps today from the tights (73 to 81) and liquidity has dried up in credit spreads !!!
1) think MXN bonos still best EM risk there, however correlations in EM are moving up. Chart of
Ashmore stock below reflects sentiment in EM (probably one of the best EM funds out there). The
MXN bond as moved about 10bps in yield and all EM ccys breaking out, driven by Turkey, USDMXN
about 3% weaker since we traded. Net Net we are down around 3.5-4%, as the around 3% on ccy and
1% on bond (using last nights bond prices)
2) Depending on how much risk u have in EM, we need to look at how we want to trade this. If ure
exposure to EM v low, we can hang in and take some pain as it will be volatile. Market is unwinding
leverage, $/JPY much lower, EM ccys wider, financials weaker, Nikkei lower, credit spreads wider all
etc. The potential China trust product default end of month spooking people here.
3) In EM space Turkey is leading this move - potential mis-steps from the central bank risks leaving it
with too few USD reserves.
The contagion channel to other markets is investors who see TRY/BRL/ZAR cheapening and sell their
broader EM holdings into DM as we saw yesterday. Until yesterday EM was weakening in a vacuum.
It seems to me that right now Turkey is the epi-center of the EM storm. Ukraine, Argentina and China
(ICBC trust default Jan31) all add event risk.
<mime.gif>
EFTA01149253
My proposed ideas are being delivered to you by the DeAWM Key Client Partners ('KCP') London desk fog discussion purposes only. and do not create any legally
binding obligation on the part of Deutsche Bank AG and / or its affiliates ("DB*). These ideas are for the consideration of the intended recipients of this mail only. The
KCP London desk does not provide investment advice. All intended recipients are Professional investors (as defined by kliFID), who understand the strategy,
characteristics and risks associated with any ideas proposed herein and will be able to evaluate it independently. All trades on proposed ideas shall be subject to the
relevant internal approvals prior to execution.
<ticmime0 I .secure>
This e-mail may contain confidential and/or privileged information. If you are not the intended recipient (or have received this
e-mail in error) please notify the sender immediately and delete this e-mail. Any unauthorized copying, disclosure or
distribution of the material in this e-mail is strictly forbidden.
Please refer to http://www.db.com/en/content/eu disclosures.htm for additional EU corporate and regulatory disclosures.
*******
ik**********************
*****************************
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 jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved
This communication may contain confidential and/or privileged information.
If you are not the intended recipient (or have received this communication
in error) please notify the sender immediately and destroy this
communication. Any unauthorized copying, disclosure or distribution of the
material in this communication is strictly forbidden.
Deutsche Bank does not render legal or tax advice, and the information
contained in this communication should not be regarded as such.
EFTA01149254