From: "Barrett, Paul S"
To: Jeffrey Epstein <jeevacation@gmail.com>
Subject: Hi
Date: Wed, 20 Apr 2011 18:46:46 +0000
Hi Jeffrey
I think we should pay fixed in 30yr interest rate swaps. The 30yr rate is at 4.22%. The Fed has accounted for close to 90%
of net new issuance and when QE2 ends in June I would like to be positioned for a move higher in rates. On $10MM
notional we would run around $17,000 per basis point of risk.
SGD continues to move higher. I do think we should double our Chinese CNY forward. The central bank has indicated that
faster currency appreciation is necessary to tame inflation. We have $10MM exposure. We should do another $10MM.
Let me know
Paul
Paul Barrett, CFA
Managing Director
Global Investment Opportunities Group
JPMorgan Private Bank
40W 57th Street, 33rd Floor, New York, NY 10019
(W) (F)
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