EFTA01300691.pdf

From: Paul S Barrett To: Jeffrey Epstein <jeevacatiorttgmai.conv CC: Jeffrey M Matusow < ;Jes Staley Sent: 8/24/201010:32:19 PM Subject: RE: 30yr swaps Otx 10MM JPY position is a forward extra with the short call knocking in only if we hit 81.50. The big rally in the JPY has been driven by falling US yields. Now that we have reduced al of otr 30yr rates expostre we should sit tight. The BoJ has been making some noise recently regarding intervention and I don't think we should cut the expostre right now. Paul Barrett, CFA Managing Director Global Investment Opportunities Group JPMorgan Private Bank 40W 57th Street, 33rd Floor, New York, NY 10019 From: Jeffrey Epstein [mailto:[email protected]] Sent: Tuesday, August 24, 2010 4:25 PM To: Paul S Barrett Cc: les Staley Subject Re: 30yr swaps yen? „ so far jpm recomendations. are a disater On Tue, Aug 24, 2010 at 4:19 PM, Jeffrey Epstein <teeyacationaittmail.com> wrote: ok On Tue, Aug 24, 2010 at 3:44 PM, Paul S Barrett •:: > wrote: Jeffrey Left you a message. We should unwind the remainder of our 30yr swap exposure. Behveen the jobless claims and housing data the risk has substantially grown for a hard landing which would drive interest rates lower. We have I ONIM of an outright swap and 10MM of a receiver swaption (4.35% strike) Let me know. Paul Paul Barrett, CFA Managing Director Global Investment Opportunities Group JPMorgan Private Bank SDNY_GM_00077882 Confidential Treatment Requested by JPMorgan Chase JPM-SDNY-00001009 EF1'A_00188350 EFTA01300691  k, NY 10019 This email is confidential and subject to important disclaimers and conditions including on offers for the purchase or sale of securities, accuracy and completeness of information, viruses, confidentiality, legal privilege, and legal entity disclaimers, available at http://www.jpmorgan.com/pages/disclostires/email. *WM* *********** ************** ************************** 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 ieevacationegmail.com, and destroy this communication and all copies thereof, including all attachments. *********************************************************** 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 jeevacationawnaitcom, and destroy this communication and all copies thereof, including all attachments. SONY_GM_00077883 Confidential Treatment Requested by JPMorgan Chase JPM-SDNY-00001010 Erl'A_0018835 I EFTA01300692