From: "Barrett, Paul S" To: Jeffrey Epstein <[email protected]> CC: "Giuffrida, David J" Subject: RE: Oil and SGD Date: Tue, 08 Mar 2011 21:30:07 +0000 We sold 2.5MM of the Ford 7% 2015 at 108.50 Bought 2.5MM of the American Axel 7.875% 2017 at 104.625 Thanks Paul From: Jeffrey Epstein [milt° Sent: Tuesday, March 08, 2011 3:10 PM To: Barrett, Paul S Subject: Re: Oil and SGD ok On Tue, Mar 8, 2011 at 11:58 AM, Barrett, Paul S< > wrote: One last thing: We have 5.2MM of the Ford 7% 2015 which is currently yielding 4.75%. I think we should switch half of the position into American Axel 7.875% 2017. You pick up 200bps over F. AXL supplies parts to the major motor companies and this will diversify our exposure away from F given how much the F bonds have rallied. We also own $5MM of the Ford 2011's. Let me know Paul From: Jeffrey Epstein [mailto: Sent: Tuesday, March 08, 2011 12:04 PM To: Barrett, Paul S Subject: Re: Oil and SGD ok On Tue, Mar 8, 2011 at 8:53 AM, Barrett, Paul S wrote: Hi Jeffrey What are your thoughts on oil? We still own 50,000 of the 100 calls expiring in June and 50,000 of the 92/100 call spread. My sense is we sit tight given the risk of higher oil prices on the rest of our positions. On a separate note I think we should add another 5MM to SGD this week. I would like to get in around 1.2700. Can I take an order? Thanks EFTA00682250