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sd-10-EFTA01365708Dept. of Justice

EFTA Document EFTA01365708

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Classification: Confidential Jeffrey, It was a pleasure to talk today and looking forward to meeting when you get back to NY. Please see below for the rationale of the SslOs steepener trade - I just repriced this for USD lbn notional. As discussed, you pay 15bps upfront for an at-the-money-forward (ATMF) CmS option struck at 54.5bps. The current spot is at 71bps, so it is 16.Sbps above the ATMF strike. Last week, before the FOMC minutes were released, the spot was 20bps above the ATMF stri

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Dept. of Justice
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sd-10-EFTA01365708
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