3. position for a stronger dollar by
buying ly 5% OTM SPOT EURUSD binary
puts at 21% of payout. suggest do
half (eur500k payout costing
0.21*500k) now, and the other half
when spot 139-140
4. nationwide coco currently 6.42%
offered. I suggest scaling in f2mm
on an order at 6.5% and f2mm on
order at 6.75%
thanks
Nay
From: Nay Gupta/db/dbcom
To: jeevacationegmail.com,
Cc: Vinit Sahni , Paul Morris/ , Tazia
Smith
Date: 14/04/2014 18:17
Subje Jeffrey - 4 trades I like - Nay [C]
ct:
Classification: Confidential
Hi Jeffrey,
There hasn't been much I've really
liked recently.
Here are four trades - 3 I like
right now and 1 for now or soon.
1) BUY lOy BTPs 0 3.16% - This is a
3-6mth 'buy the rumour sell the
fact' tactical trade to position for
ECB QE (now)
The ECB is preparing both itself and
markets for QE - Its senior board
members have stepped up public
comments over the past 48hrs. This
is the clearest sign so far QE could
happen and why I am writing to you
now.
Ideally ECB wants to buy ABS from
small to medium sized European
companies but the outstanding
available is relatively small so it
will likely buy Eurozone Government
Bonds. The spread between Italian
BTPs and German Bunds has tightened
significantly past 18months but old
metrics of value make no sense in
Europe because they rely on history
when there was no QE.
while It's hard to get excited about
lOy BTPs yielding 3.16% (164bp over
10V German Bunds) I'd still have
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