EXHIBIT 122¶
From: Jeffrey E stein To: Paul S CC: Jes Staley Sent: 8/24/2010 Subject: Re: 30yr swaps¶
yen? ” so far jpm recomendations. are a disater¶
On Tue, Aug 24, 2010 at 4:19 PM, Jeffrey Epstein leevacationagmail.com> wrote: ok¶
On Tue, Aug 24, 2010 at 3:44 PM, Paul S wrote:¶
Jeffrey¶
Left you a message.¶
We should unwind the remainder of our 30yr swap exposure. Between the jobless claims and housing data the risk has substantially grown for a hard landing which would drive interest rates lower.¶
We have 10MM of an outright swap and loMM of a receiver swaption (4.35% strike)¶
Let me know¶
Paul¶
Paul CFA¶
Managing Director¶
Global Investment Opportunities Group¶
1PMorgan Private Bank¶
40W 57th Street, 33rd Floor, New York, NY 10019¶
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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 jeevacation@gmail.com, and destroy this communication and all copies thereof, including all attachments.¶