Epstein Files Search

EFTA01362010Dataset 10

2015-09-041p565w

…The case for mote liquidity Investors are rightly concerned about the impact of both a possible early start to Fed normalization and the probably yet-to-be-resolved Chinese FX adjustment. There is a reasonable consensus that both encourage further downside to risk assets. There is more uncertainty around bond yields. Potential FX intervention might imply selling of Treasuries, especially the front end where most reserves are held. But if higher short rates from either those sales or Fed tightening…

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01362010.pdf

EFTA01405764Dataset 10

2015-09-04147p21,516w

…The case for more liquidity Investors are rightly concerned about the impact of both a possible early start to Fed normalization and the probably yet-to-be-resolved Chinese FX adjustment. There is a reasonable consensus that both encourage further downside to risk assets. There is more uncertainty around bond yields. Potential FX intervention might imply selling of Treasuries, especially the front end where most reserves are held. But if higher short rates from either those sales or Fed tightening…

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01405764.pdf

EFTA01097815Dataset 9

2015-09-0447p20,445w

…The case for more liquidity Investors are rightly concerned about the impact of both a possible early start to Fed normalization and the probably yet-to-be-resolved Chinese FX adjustment. There is a reasonable consensus that both encourage further downside to risk assets. There is more uncertainty around bond yields. Potential FX intervention might imply selling of Treasuries, especially the front end where most reserves are held. But if higher short rates from either those sales or Fed tightening…

https://www.justice.gov/epstein/files/DataSet%209/EFTA01097815.pdf

EFTA00845291Dataset 9

2015-09-243p1,451w

Subject: Fw: Faria: Brazil Daily Update [I]

From: Daniel SabbaTo: [email protected] <[email protected]>

…reserves in case the political crisis continues to worsen, we believe the BCB will prefer to stick to the FX swaps and repo lines for now. Although Brazil has currently a comfortable USD370bn in international reserves, depleting them to stabilize the FX could send a negative signal to the market. It is important to stress that the potential FX outflows are quite significant. The short-term external debt by residual maturity, for example, amounts to USD119bn, according to BCB data…

https://www.justice.gov/epstein/files/DataSet%209/EFTA00845291.pdf

EFTA01164248Dataset 9

2011-04-265p2,998w

Subject: Eye on the Market, April 26, 2011

From: US GIOTo: Undisclosed recipients:;

…Forward, Cultural Revolution). But now it's not just about FX losses: with rising Chinese inflation and concerns about US long-term solvency, the total risks of Bretton Woods II are growing for China. We are all trying to figure out what comes next. Potential FX losses on China's accumulation of Treasuries and Agencies. in historical context, Percent of GDP 35% 30% Cost of Great Leap Forward (worst 2 years. '61-62) 25% Cost of banking crisis in China…

https://www.justice.gov/epstein/files/DataSet%209/EFTA01164248.pdf