Sub Re: PDVSA chart + USD)PY Trade [C]
jec
t:
thanks , lets keep
On Mon, Jan 13, 2014 at 7:47 AM, Vinit Sahni wrote:
Classification: confidential
This attached image shows the current pricing on the curve, which is
slightly weaker than it was in early December. I have also added the term
structure of PDVSA and VENZ sovereign bonds, which gives us some relative
value across the curve
Bouts of volatility will likely remain an issue and therefore it will trade
like a short tail risk trade. However, given that access to dollars remains
key for Venezuela, we should expect the government to do whatever they can
to avoid a problem servicing these bonds (or even the perception of the
same). They do have a heavy amortization schedule in 2014 and 2015.
(Embedded image moved to file: pic31477.gif)
Vinit Sahni
Managing Director I Global Head - Professional Client Group & Key Client
Partners Capital Markets Group
Deutsche Asset & wealth Management
105/108 old Broad St (Pinners Hall), Ec2N lEN London, united Kingdom
Tel.
Mobil
Email
(Embedded image moved to file: pic22315.gif)
From Tazia Smith/db/dbcom@DBAMERICAS
To: "Jeffrey epstein" <jeevacation@gmail.com>,
Cc: "Vini hni" " v u
Date 12/01/2014 22:52
Subj Re: PDVSA chart + USDJPY Trade [C]
ect:
CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 107834
CONFIDENTIAL SDNY_GM_00254018
EFTA01451341