EFTA Document EFTA01436291

Subject: [/] TRY Carry idea - From: Martin Zeman Date: Wed, 09 Jan 2019 08:47:56 -0500 To: "Paul Barrett Cc: Stewart Oldfield Alan Brody <alan.brody@db.com> Paul, TRY has started the year poorly by selling off 4%. If you believe things will calm down and want to take advantage of the high carry we like to express this through calendar One Touches. This not only benefits from the high carry but also fades the move in vols. With the front end vols going bid this year 3m ag 6m vol is flat.