EFTA Document EFTA01461321

From: Tazia Smith Sent: 1/28/2014 12:24:03 PM To: jeevacation@gmail.com CC: Paul Morris Vinit Sahni Nav Gupta Stepanian Subject: Depressed options volatility makes 'Renmimbi weaker' hedges very cheap I KCP Capital Markets [II Classification: For internal use only Jeffrey - Vahe Curious for your view on China. We're concerned about the defense of China's stability (even by our own Global Markets Research analyst, Jun Ma). China may be re-rating for longer-term stability as an 'em