From: "Giuffrida, David J" <I To: "Barrett, Paul S" 4 k Jeffrey Epstein Subject: RE: Oil and SGD Date: Wed, 09 Mar 2011 13:35:31 +0000 Jeffrey, We bought SGD, sold $5 MM @ 1.27 spot. Thanks From: Barrett, Paul S Sent: Tuesday, Mardi 08, 2011 4:30 PM To: Jeffrey Epstein Cc: Giuffrida, David 3 Subject: RE: Oil and SGD 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 [malltoleevacadon@gmalkoom] Sent: Tuesday, Mardi 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 EFTA00682284