EFTA Document EFTA01455675

From: Vinit Sahni [vinit.sahniedb.com] Stet: 9/25/201411:35:29 AM To: Paul Morris Ipaul.morris@db.com] CC: Uzair Acieel luzairsqeel@db.com]; Caroline Kitidis [caroline.kitidis@db.comj; Nay Gupta [naegupta@db.coml; Tazia Smith ltazia.smith@db.coml Subject: Re: Key themes & trades Market clearly starting to get more tactical we will see more relative movements. Vinit On 25 Sep 2014, at 16:29, Paul Moths <paul.morris@db.com> wrote: thanks, let's try to get some folks engaged on these Paul Moths Managing Director Deutsche Bank Private Bank 345 Park Avenue, 27th Floor New York. NY 10154 Uzair Ageel---09/25/2014 08:07:15 AM--Hi Tazia, Here are some trades we're thinking about that Nav suggested you may wish to highlight to From: Uzair Aqccl/db/dbcom@DBEMEA To: Tazia Smith/db/dbeom@DBAMERICAS, Cc: Nay Guptaidhcorni@DBEmEA, Vinit Sahni/db/dbcomflBEMEA, Paul Morris/db/dbcoMa DBAMERICAS, Csrolim Kitidis/o/dhcom@DBAMERICAS Date: 09/25/2014 08:07 AM Subjcct:Kcy thcmcs & tradcs Hi Tana, Here are some trades we're thinking about that Nav suggested you may wish to highlight to Jeffrey Epstein. Key themes: • Divergence in monetary policy between the Fed & Bank of England on the one hand and ECB & Bank of Japan on the other • Continued capital inflows into Asian countries where financial conditions are easing (eg, Japan) and/or structural reforms are being implemented (eg, India) • US recovery - buying into dips as US anchors global growth EURUSD continues to break down -- if you're looking to reload: CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0114577 CONFIDENTIAL SONY GM_00260761 EFTA01455675