near term mark to market risk is slower pace of implementation of energy reform and a selloff in uSTs happy to discuss further if u find interesting... (Embedded image moved to file: pic04858.gif) CNYWD(N chart courtesy Nav Gupta (shows relative value in Labour cost between china and Mexico) (Embedded image moved to file: pic01598.gif) (Embedded image moved to file: pic21659.gif) vinit Sahni Managing Director I Global Head - Professional Client Group & Key Client Partners Capital Markets Group Deutsche Asset & wealth Management 105/ (Pinners Hall), EC2N lEN London. united Kingdom Tel. mobile Email (Embedded image moved to file: pic01019.gif) Any proposed ideas are being delivered to you by the DeAwm Key Client Partners ("KCP") London desk for discussion purposes only, and do not create any legally binding obligation on the part of Deutsche Bank AG and / or its affiliates ("DB"). These ideas are for the consideration of the intended recipients of this mail only. The KCP London desk does not provide investment advice. All intended recipients are Professional investors (as defined by MiFID), who understand the strategy, characteristics and risks associated with any ideas proposed herein and will be able to evaluate it independently. All trades on proposed ideas shall be subject to the relevant internal approvals prior to execution. Fro Jeffrey Epstein <jeevacation@gmail.com> m: To: vinit sahni/db/dbcom@DEIEmEA, cc: Tazia smith/db/dbcomamAmERIcAs, "Nav Gupta (DEUTSCHE ASSET MANAG)" < gupnavn@bloomberg.net>, Paul Morris/db/dbcom008AMERICAS, Vahe Stepanian/db/dbcomODBAmericas Dat 13/01/2014 11:50 e: sub Re: PDvsA chart + uscoPv Trade [c] jec t: thanks , lets keep CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 107626 CONFIDENTIAL SDNY_GM_00253810 EFTA01451254