EFTA00788475Set 9
2017-07-2429p16,328w
China bonds and believe they are cheap by at least 20 bps.
In EEMEA FX, we are short EUR/RON. We are also long EGP as a carry trade. In LatAm ... decelerate in 2H17.
NAFTA and presidential elections risks have been completely priced out
In EEMEA. we stay long beta but take out some cheap 3-month protection against a
pickup ... hurting the crowded carry trade. In EEMEA FX, the best hedge is via long
EUR/PLN call spread due to positioning and low vol. We see scope for recovery in Turkey
https://www.justice.gov/epstein/files/DataSet%209/EFTA00788475.pdf