Epstein Secrets

From: Daniel Sabba •tt > To: "Jeffrey E." <[email protected]> CC: Paul Morris , Stewart Oldfield Ste anian , "Arian Dwyer" Subject: FW: Faria: Brazil Daily Up

COPOM minutes maintain hawkish tone, signaling further tightening: The BCB published the COPOM minutes explaining last week's decision to raise the SELIC rate by 50bps to 13.75%. There were very few changes in the document, suggesting that the tightening cycle will continue. We now expect another 50b

From: Daniel Sabba •t: > To: "'Jeffrey E."' <[email protected]> CC: Paul Morris , Vahe Ste anian Arian Dwyer Subject: FW: Faria: Brazil Daily Update [C] Date:

d 2016 at BRL3.90/USD (instead of BRL3.40/USD and BRL3.65/USD, respectively). Despite the higher inflation, we continue to expect the BCB to cut the SELIC rate to 11.50% in 2016 (with the easing cycle still beginning in April), as we expect the authorities to throw in the towel and postpone convergenc

lassification: Confidential Let's follow-up on our chat last week Paul Morris Managing Director Deutsche Bank Private Bank Office= Cell: From: Daniel Sabba Sent: Thursday, September 10, 2015 10:49 AM To: 'jeffrey E.' Cc: Paul Morris; Vahe Stepanian; Stewart Oldfield; Ariane Dwyer; 'Richard Kahn' Sub

2016 at BRL3.90/USD (instead of BRL3.40/USD and BRL3.65/USD, respectively). Despite the higher inflation, we continue to expect the BCB to cut the SELIC rate to 11.50% in 2016 (with the easing cycle still beginning in April), as we expect the authorities to throw in the towel and postpone convergenc

From: Daniel Sabba To: "Jeffrey Epstein" [email protected]> Subject: FW: Feria: Brazil Daily Update Sent Wednesday, June 24, 2015 9:39:46 PM Original Mes

w shows inflation converging to the 4.5% target in 2Q17. These forecasts assumed an exchange rate of BRL3.10/1.1SD (vs. BRL3.15/USD in March) and a SELIC rate of 13.75% (vs. 12.75%) throughout the forecasting period. The BCB estimated administered price inflation of 13.7% (vs. 11.0%) for 2015 and 5.3%

From: Daniel Sabba Sent: 6/11/2015 5:23:36 PM To: Jeffrey E. ([email protected]] CC: Paul Morris I; Stewart Oldfield I j; Vahe Stepanian I ; Ariane Dwyer

COPOM minutes maintain hawkish tone, signaling further tightening: The BCB published the COPOM minutes explaining last week's decision to raise the SELIC rate by 50bps to 13.75%. There were very few changes in the document, suggesting that the tightening cycle will continue. we now expect another 50b

From: Daniel Sabba To: "'Jeffrey E."' <[email protected]> CC: Paul Morris , Vahe Stepanian , Stewart Oldfield , Ariane Dwyer "'Richard Kahn"' Subject: RE

d 2016 at BRL3.90/USD (instead of BRL3.40/USD and BRL3.65/USD, respectively). Despite the higher inflation, we continue to expect the BCB to cut the SELIC rate to 11.50% in 2016 (with the easing cycle still beginning in April), as we expect the authorities to throw in the towel and postpone convergenc