Solvency, equities, risk, affordability and the actuary Cameron McNeill.

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Solvency, equities, risk, affordability and the actuary Cameron McNeill

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Transcript of Solvency, equities, risk, affordability and the actuary Cameron McNeill.

  • Solvency, equities, risk, affordability and the actuary Cameron McNeill

  • *AgendaActuaries inside and outSolvency regulations and relaxationsWhat is a pension deficit and the implicationsThe role of equitiesRisk, ERM and pension funds

    Note all views expressed are personal and are not necessarily those of Buck Consultants

  • *Actuaries inside and out

  • *How we see ourselves

    Actuaries know risk like Ahab knew whales. And the profession is recognised, deservedly, not only for the rigour of its examination process but for the value it places on honest analysis.

  • *

    From our website Actuaries are professional business people who are skilled in the application of mathematics to financial problems. Actuaries employ their specialized knowledge of the mathematics of finance, statistics and risk theory on problems faced by pension plans

    Actuaries have practical business sense, the creativity to apply training and experience to new problems and provide innovative solutions, and the communication skills required to convince both colleagues and clients. They help people plan better for the future by controlling or reducing financial risks associated with ..retirement

  • *The other view

    17 Oct 2009unreasonable assumptionsthe unchecked optimism of actuariesvaluations can be subjective and sometimes very wrongit wasnt my fault, it was down to the fact that the company didnt put enough money in the plan

  • *

  • *

  • *Solvency regulations and relaxations

  • *Solvency regulations

    Note : solvency regs do apply in German Pension Funds

  • *Solvency regulations relaxed

  • *Why do we have solvency regs?PoliticsProtect central funds (Ontario, US, UK)Secure members benefitsForce employers to fund

    None of that says anything about making pension plans more affordable for employers.

    So why do we abandon the solvency regulations when theyare most useful, simply because they are difficult to complywith?

    Were they supposed to be easy?

  • *most useful.Does anyone suffer because of solvency relief measures?Yes, where an employer goes out of business Cash is temporarily diverted away from the PlanBenefits are scaled down on wind up.... by more than they would previously have beenOffset by continued employmentGenerational inequity and the FS problemShort service gainsLong service lossesNot all plan members are employeesSolvency relief should and could easily deal with this

  • *most useful.Are market crashes and insolvencies linked?Insolvency practitioners typically expect an upturn in insolvencies around 18 months after an economic downturnKPMG report (Danger and Opportunity Ahead for Corporate Canada 2008)..we are likely to see an increase in insolvencies in the next few yearsGerman corporate bankruptcies up 14.8% in 1st half of 2009 (Canadian Business Online)

  • *UK experience

  • *US experienceUS insolvency filings (RHS inverted) -v- Real GDP growth (LHS)

    Chart3

    Sheet1

    80000-

    YearFilingsinvertReal GDPReal GDPSSP500*100*200053235

    *10000

    19906485335147-9.23%-9.2290723132-18458.144626338534776.8553736615

    1991715492845131.17%31.166442813262332.8856264825115567.885626483

    1992706432935711.07%11.070912352222141.824704346375376.8247043463

    199362304376962.92900013.01%13.01055654126021.11308197179256.113081971

    199452374476264.1410003.68%3.68458276617369.165532177860604.1655321778

    199551959480412.52500029.74%29.743430624959486.8612497936112721.861249794

    199653549464513.73700020.32%20.324737581840649.475163560793884.4751635607

    199754027459734.54500040.46%40.462934621980925.869243885134160.869243885

    199844367556334.4440009.06%9.058887169718117.774339488571352.7743394885

    199937884621164.84800027.80%27.798918269555597.8365389461108832.836538946

    200035472645284.14100013.30%13.295889993226591.779986478979826.7799864789

    200140099599011.111000-26.62%-26.6173120091-53234.62401825990.3759817401

    200238540614601.818000-20.48%-20.4840830216-40968.166043154812266.8339568452

    200335037649632.52500024.41%24.412092035248824.1840704335102059.184070433

    200434317656833.63600013.86%13.858180052227716.360104479180951.3601044791

    200539201607993.13100012.24%12.244935959724489.871919405677724.8719194056

    200619695803052.72700010.78%10.782553978921565.10795783874800.107957838

    200728322716782.12100016.43%16.434955858932869.911717837486104.9117178374

    200843546564540.44000-21.97%-21.9665798333-43933.15966662799301.8403333721

    Sheet1

    000

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    Filings

    SSP500

    Real GDP

    Sheet2

    Sheet3

    Chart4

    648531990

    715491991

    706431992

    623040.029

    523740.041

    519590.025

    535490.037

    540270.045

    443670.044

    378840.048

    354720.041

    400990.011

    385400.018

    350370.025

    343170.036

    392010.031

    196950.027

    283220.021

    435460.004

    Filings

    Real GDP

    Sheet1

    inflationtotal GDP

    YearFilingsinvertReal GDPReal GDPSSP500*100*200053235

    1990648533514752720.5-9.23%-9.2290723132-18458.144626338534776.85537366153

    1991715492845142676.531.17%31.166442813262332.8856264825115567.8856264834

    1992706432935744035.511.07%11.070912352222141.824704346375376.82470434632

    19936230437696565442.90%75413.01%13.01055654126021.11308197179256.1130819712.960.0298985840.029898584

    19945237447626714394.10%10663.68%3.68458276617369.165532177860604.16553217782.610.0265207010.026520701

    1995519594804172061.52.50%65029.74%29.743430624959486.8612497936112721.8612497942.810.0283570250.028357025

    1996535494645169676.53.70%96220.32%20.324737581840649.475163560793884.47516356072.930.0296808410.029680841

    1997540274597368959.54.50%117040.46%40.462934621980925.869243885134160.8692438852.340.023860530.02386053

    1998443675563383449.54.40%11449.06%9.058887169718117.774339488571352.77433948851.550.015946820.01594682

    19993788462116931744.80%124827.80%27.798918269555597.8365389461108832.8365389462.190.0223905120.022390512

    20003547264528967924.10%106613.30%13.295889993226591.779986478979826.77998647893.380.0342238580.034223858

    2001400995990189851.51.10%286-26.62%-26.6173120091-53234.62401825990.37598174012.830.0284131130.028413113

    20023854061460921901.80%468-20.48%-20.4840830216-40968.166043154812266.83395684521.590.0160828620.016082862

    2003350376496397444.52.50%65024.41%24.412092035248824.1840704335102059.1840704332.270.0229556750.022955675

    2004343176568398524.53.60%93613.86%13.858180052227716.360104479180951.36010447912.680.0271696480.027169648

    2005392016079991198.53.10%80612.24%12.244935959724489.871919405677724.87191940563.390.0342205090.034220509

    20061969580305120457.52.70%70210.78%10.782553978921565.10795783874800.1079578383.240.0326787480.032678748

    200728322716781075172.10%54616.43%16.434955858932869.911717837486104.91171783742.850.0287159850.028715985

    20084354656454846810.40%104-21.97%-21.9665798333-43933.15966662799301.84033337213.850.038541540.03854154

    Sheet1

    Filings

    SSP500

    Sheet2

    Filings

    Real GDP

    Sheet3

  • *So why do we relax solvency regulations?PoliticsWe believe the markets are wrong and will bounce back?.so we believe our assumptions were correct?Because we dont think companies should have to deal with equity volatility?Bear in mind we already allow smoothing of asset valuesWe should do anything not to put a company out of business?Because we want to support companies who have plans they cant afford?Because we dont think security of benefits is important?Because its ok to push unmanageable debt in to the future?

  • *

    What is a pension deficit (& implications)

  • *A reminder of what a deficit really isA DB benefit is a promise to payThe EU constitution defines DB benefits as deferred payA deficit is a temporary loan from the plan members to the companyWithout their knowledge or consentWithout interestWith no collateralWith minimal bankruptcy protectionOrder of priority on bankruptcy..

  • *Complex solvency reliefIt all hinges on employer strengthUnencumbered balance sheet assetsOperating profits (excl exceptionals)Cash generationOrder bookRisk managementMarket positionPatents etcBarriers to entryWould you rather have a DB promise (not funded to wind-up levels) from a big 5 Canadian Bank or GM?Someone (?) has to be making that sort of judgment when it comes to solvency funding and relief measuresWe should be involved

  • *

  • *Complex in practiceWill the company survive? YESIf YES, relief is allowed, providedAccrual stopsNo returns to shareholdersExplicit disclosuresIf NO then no reliefIf maybe?Fit and healthy without pension costs?Credit agencies look short term12 monthsRecognise things move very fast pre insolvency

  • *No solvency crisisSolvency is linked toEquity exposureRiskAffordabilityThose are the problemsSolvency Relief is just a quick nip and tuck

  • *

    The role of equities

  • *Equity exposure in DB plansI cant afford my plan without equity exposure

    Equities outperform bonds over the long termYes but they can be a bumpy rideDont worry, actuaries can smooth out the volatility

  • *Equities - the truth revealedEquities do not match active member liabilitiesSo its about maximising returnOr maybe diversification?What does the data say?With a nod to Benjamin Disraeli

  • *The data 1

    Chart8

    100010001000

    954.91005.5975.9

    900.088741010.5275971.0205

    783.6172570441016.186454960.63058065

    780.56114974151022.0803354332968.4116883533

    861.97367765961028.2128174458991.1693630296

    835.25249365211034.2792730687986.5108670233

    810.11139359321040.7952324891980.2958485611

    707.22724660691047.3522424537963.4347599658

    565.78179728551053.845826357952.6442906542

    668.07514623471060.6958242283990.0832112769

    584.83298301391067.59034708581006.1225592996

    608.81113531741074.95672048061022.2205202484

    595.5999336811082.26642617991035.6116090637

    691.84888296391088.97647802221046.1748474761

    698.00633802231096.59931336841042.8270879642

    692.21288541671103.9465287681044.8084594313

    690.06702547191111.45336516361054.1072547202

    641.41730017611118.67781203721052.7369152891

    654.37392963971125.7254822531069.6859796253

    605.36132230971132.81755279121082.9500857726

    645.92053090441139.27461284211106.0169225996

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    780.83484751721310.73839854472045.9364847395

    768.34148995691311.26269390412048.1870148728

    762.80943122921311.78719898172051.4641140965

    786.60908548351312.31191386132041.0016471146

    796.44169905211312.83683862682030.7966388791

    765.85833780851313.36197336232041.3567814012

    722.89368505741313.88731815162062.5868919278

    731.27925180411314.41287307892061.761857171

    733.61934540991314.93863822812072.6891950141

    693.34364334691315.46461368342085.7471369426

    668.93794710111315.99079952892089.9186312165

    608.06459391491316.51719584872099.9502406464

    599.24765730311317.0438027272110.0300018015

    554.24415823961317.57062024812117.4151068078

    619.3124224171318.09764849622083.9599481202

    642.16505080421318.62488755562068.1218525145

    602.0939516341319.15233751062090.6643807069

    593.60442691591319.67999844562097.7726396013

    572.29402798971320.2078704452116.8623706217

    498.35363957341320.73595359322109.4533523245

    397.88554583541321.26424797462118.5240017395

    383.76060895821321.52850082422124.8795737447

    395.2734272271321.79280652442161.4275024131

    365.35122878591321.9249858052148.4589373987

    348.28932640161322.05717830362153.1855470609

    359.60872950971322.18938402142146.2953533103

    389.06068445651322.32160295982143.505169351

    416.83961732671322.45383512012140.0755610801

    431.59573978011322.58608050372160.1922713542

    441.78139923891322.71833911172157.8160598557

    448.84990162671322.85061094562172.0576458508

    427.57441628961322.98289600672179.4426418467

    Russell/Nomura Total Market (JPY)

    IA Japan Money Market (JPY)

    Nomura BPI (JPY)

    Value of $1,000

    Japanese Capital Markets -- Jan. 1990 to Sept. 2009

    Macros

    EnCorr Analyzer - Cameron McNeill Sept 28 2009.fldCumulative from July 1, 2008Cumulative from Oct. 1, 1999 (10 years)Cumulative from Oct. 1, 1989 (20 years)Cumulative from Oct. 1, 1979 (30 years)Cumulative from Jan. 1, 1990 (19.75 years)

    S&P/TSX CompositeDEX Cdn Tr-Bill 30-DayDEX UniverseS&P 500 TR (USD)IA SBBI US 30-Day T-Bill (USD)BarCap US Agg Bond (USD)Russell/Nomura Total Market (JPY)IA Japan Money Market (JPY)Nomura BPI (JPY)S&P/TSX CompositeDEX Cdn Tr-Bill 30-DayDEX UniverseS&P 500 TR (USD)IA SBBI US 30-Day T-Bill (USD)BarCap US Agg Bond (USD)Russell/Nomura Total Market (JPY)IA Japan Money Market (JPY)Nomura BPI (JPY)S&P/TSX CompositeDEX Cdn Tr-Bill 30-DayDEX UniverseS&P 500 TR (USD)IA SBBI US 30-Day T-Bill (USD)BarCap US Agg Bond (USD)Russell/Nomura Total Market (JPY)IA Japan Money Market (JPY)Nomura BPI (JPY)S&P/TSX CompositeDEX Cdn Tr-Bill 30-DayDEX UniverseS&P 500 TR (USD)IA SBBI US 30-Day T-Bill (USD)BarCap US Agg Bond (USD)Russell/Nomura Total Market (JPY)IA Japan Money Market (JPY)Nomura BPI (JPY)S&P/TSX CompositeDEX Cdn Tr-Bill 30-DayDEX UniverseS&P 500 TR (USD)IA SBBI US 30-Day T-Bill (USD)BarCap US Agg Bond (USD)Russell/Nomura Total Market (JPY)IA Japan Money Market (JPY)Nomura BPI (JPY)S&P/TSX CompositeDEX Cdn Tr-Bill 30-DayDEX UniverseS&P 500 TR (USD)IA SBBI US 30-Day T-Bill (USD)BarCap US Agg Bond (USD)Russell/Nomura Total Market (JPY)IA Japan Money Market (JPY)Nomura BPI (JPY)

    1,0001,0001,0001,0001,0001,0001,0001,0001,000

    Oct-79-9.68%1.10%-5.03%-6.40%0.87%-6.08%-1.76%0.57%-0.63%9031,0119509361,0099399821,006994

    Nov-798.16%1.11%2.95%4.75%0.99%2.92%0.60%0.62%-0.85%9771,0229789801,0199679881,012985

    Dec-797.32%1.12%-1.83%2.14%0.95%0.27%2.10%0.68%1.08%1,0481,0349601,0011,0289691,0091,019996

    Jan-8011.96%1.13%-2.63%6.22%0.80%-3.05%1.76%0.68%1.18%1,1741,0459351,0641,0379401,0271,0261,008

    Feb-808.46%1.10%-2.18%-0.01%0.89%-5.92%-0.22%0.69%-2.01%1,2731,0579141,0641,0468841,0241,033987

    Mar-80-17.64%1.06%-1.25%-9.72%1.21%0.08%-2.28%0.91%-2.52%1,0491,0689039601,0588851,0011,042963

    Apr-804.22%1.20%7.16%4.62%1.26%11.34%3.07%1.00%0.24%1,0931,0819671,0051,0729851,0321,053965

    May-805.90%1.30%4.67%5.15%0.81%4.72%0.17%1.07%5.72%1,1571,0951,0131,0561,0801,0321,0341,0641,020

    Jun-805.08%1.02%1.99%3.16%0.61%1.89%1.14%1.04%2.28%1,2161,1061,0331,0901,0871,0511,0451,0751,043

    Jul-806.90%1.00%-3.77%6.96%0.53%-2.07%-0.49%1.08%-0.06%1,3001,1179941,1661,0931,0291,0401,0871,043

    Aug-801.23%0.85%-0.56%1.01%0.64%-3.58%1.73%1.03%0.21%1,3161,1279881,1771,1009921,0581,0981,045

    Sep-802.26%0.81%-0.66%2.94%0.75%-1.05%2.78%0.94%0.45%1,3461,1369821,2121,1089821,0881,1081,050

    Oct-80-0.74%0.83%-0.16%2.02%0.95%-1.15%1.48%0.94%1.15%1,3361,1459801,2361,1199711,1041,1191,062

    Nov-807.63%0.96%1.87%10.65%0.96%-0.19%-0.56%0.78%-0.33%1,4381,1569991,3681,1299691,0981,1271,058

    Dec-80-5.10%1.12%2.44%-3.02%1.31%2.73%0.39%0.81%1.03%1,3641,1691,0231,3271,1449951,1021,1361,069

    Jan-81-1.72%1.50%-0.50%-4.18%1.04%0.05%3.13%0.76%2.01%1,3411,1871,0181,2711,1569961,1361,1451,090

    Feb-81-1.78%1.44%-1.36%1.74%1.07%-1.90%-0.47%0.66%1.03%1,3171,2041,0041,2931,1689771,1311,1531,102

    Mar-817.50%1.39%0.89%4.00%1.21%2.38%5.50%0.68%1.91%1,4161,2201,0131,3451,1831,0001,1931,1601,123

    Apr-81-1.03%1.45%-5.34%-1.93%1.08%-3.57%6.13%0.59%0.72%1,4011,2389591,3191,1959641,2661,1671,131

    May-813.19%1.45%1.49%0.26%1.15%3.59%0.05%0.60%-0.66%1,4461,2569731,3231,2099991,2671,1741,123

    Jun-810.08%1.52%0.78%-0.63%1.35%-0.23%4.59%0.59%0.84%1,4471,2759811,3141,2259971,3251,1811,133

    Jul-81-4.32%1.59%-6.66%0.21%1.24%-1.93%1.01%0.62%0.42%1,3851,2969151,3171,2419781,3391,1881,138

    Aug-81-3.11%1.70%1.91%-5.77%1.28%-2.11%-0.02%0.61%0.03%1,3411,3189331,2411,2569571,3381,1961,138

    Sep-81-13.10%1.75%-1.75%-4.93%1.24%-0.07%-6.33%0.60%0.93%1,1661,3419161,1801,2729561,2541,2031,148

    Oct-81-1.97%1.62%8.64%5.40%1.21%5.85%0.30%0.60%1.04%1,1431,3629961,2441,2871,0121,2571,2101,160

    Nov-819.72%1.51%9.32%4.13%1.07%8.52%0.37%0.56%2.64%1,2541,3831,0881,2951,3011,0981,2621,2171,191

    Dec-81-2.33%1.36%-2.08%-2.56%0.87%-3.74%2.18%0.57%1.40%1,2251,4021,0661,2621,3131,0571,2891,2241,208

    Jan-82-8.40%1.27%-1.51%-1.31%0.80%0.63%2.23%0.56%0.90%1,1221,4191,0501,2451,3231,0641,3181,2311,219

    Feb-82-6.13%1.19%2.45%-5.59%0.92%1.95%-5.24%0.50%0.72%1,0531,4361,0751,1761,3351,0851,2491,2371,227

    Mar-82-4.27%1.22%1.39%-0.52%0.98%1.27%-3.05%0.57%1.53%1,0081,4541,0901,1701,3481,0991,2111,2441,246

    Apr-82-2.32%1.30%2.32%4.52%1.13%2.80%2.17%0.59%0.49%9851,4731,1161,2221,3641,1291,2371,2511,252

    May-82-1.03%1.24%0.98%-3.41%1.06%1.62%0.09%0.61%-0.58%9741,4911,1271,1811,3781,1481,2381,2591,245

    Jun-82-9.64%1.28%-3.12%-1.50%0.96%-1.57%-1.53%0.59%-0.77%8811,5101,0911,1631,3911,1301,2191,2661,235

    Jul-823.59%1.29%3.55%-1.78%1.05%4.30%-1.60%0.61%1.15%9121,5301,1301,1421,4061,1781,2001,2741,250

    Aug-8214.69%1.27%7.44%12.14%0.76%5.46%-0.05%0.61%0.56%1,0461,5491,2141,2811,4171,2421,1991,2821,257

    Sep-82-0.12%1.15%5.40%1.25%0.51%4.05%-0.70%0.57%0.47%1,0451,5671,2801,2971,4241,2931,1911,2891,263

    Oct-8210.91%1.07%6.50%11.51%0.59%5.30%4.02%0.59%0.55%1,1591,5841,3631,4461,4321,3611,2391,2971,269

    Nov-824.18%0.98%1.74%4.04%0.63%0.98%7.22%0.55%1.45%1,2071,5991,3871,5051,4411,3751,3281,3041,288

    Dec-827.07%0.92%4.03%1.93%0.67%2.01%2.92%0.59%2.53%1,2931,6141,4431,5341,4511,4021,3671,3121,320

    Jan-833.92%0.79%-0.99%3.72%0.69%0.17%-0.74%0.56%0.00%1,3431,6271,4281,5911,4611,4051,3571,3191,320

    Feb-833.30%0.82%3.24%2.29%0.62%2.87%0.92%0.50%1.44%1,3881,6401,4751,6271,4701,4451,3691,3251,339

    Mar-833.61%0.78%0.86%3.69%0.63%0.26%5.22%0.57%0.60%1,4381,6531,4871,6871,4791,4491,4411,3331,348

    Apr-838.76%0.73%3.49%7.88%0.71%2.79%2.57%0.52%0.92%1,5641,6651,5391,8201,4901,4891,4781,3401,360

    May-833.72%0.76%-0.71%-0.87%0.69%-1.31%0.85%0.52%0.29%1,6221,6771,5281,8041,5001,4701,4911,3471,364

    Jun-831.49%0.77%0.56%3.89%0.67%0.11%3.20%0.51%0.88%1,6461,6901,5371,8751,5101,4711,5381,3541,376

    Jul-831.41%0.75%-1.69%-2.95%0.74%-2.36%1.69%0.54%0.52%1,6691,7031,5111,8191,5211,4371,5641,3611,383

    Aug-830.48%0.75%0.10%1.50%0.76%0.70%2.15%0.55%0.69%1,6771,7161,5121,8471,5331,4471,5981,3691,393

    Sep-831.04%0.74%3.89%1.38%0.76%3.30%2.45%0.54%1.46%1,6951,7291,5711,8721,5441,4941,6371,3761,413

    Oct-83-5.38%0.75%1.68%-1.16%0.76%0.36%-0.89%0.55%0.76%1,6041,7421,5981,8501,5561,5001,6221,3841,424

    Nov-838.30%0.75%0.74%2.11%0.70%1.14%0.20%0.49%1.05%1,7371,7551,6101,8891,5671,5171,6261,3901,439

    Dec-830.85%0.77%-0.03%-0.52%0.73%0.19%6.92%0.55%1.01%1,7511,7681,6091,8801,5781,5201,7381,3981,453

    Jan-84-3.11%0.77%1.22%-0.56%0.76%2.06%4.54%0.51%0.50%1,6971,7821,6291,8691,5901,5511,8171,4051,460

    Feb-84-1.71%0.80%-1.39%-3.52%0.71%-0.51%-0.94%0.48%0.73%1,6681,7961,6061,8031,6021,5431,8001,4121,471

    Mar-84-1.13%0.80%-2.37%1.73%0.73%-1.12%10.19%0.55%1.53%1,6491,8101,5681,8351,6131,5261,9831,4201,494

    Apr-84-2.30%0.82%-0.09%0.95%0.81%-0.20%-0.79%0.48%0.48%1,6111,8251,5671,8521,6261,5231,9681,4261,501

    May-84-3.73%0.84%-1.50%-5.54%0.78%-3.12%-9.65%0.49%-1.26%1,5511,8401,5431,7491,6391,4751,7781,4331,482

    Jun-840.11%0.85%0.68%2.17%0.75%1.28%2.57%0.49%1.03%1,5531,8561,5541,7871,6511,4941,8241,4401,497

    Jul-84-3.42%0.94%3.97%-1.24%0.82%4.50%-3.67%0.51%0.62%1,5001,8741,6151,7651,6651,5611,7571,4481,506

    Aug-8411.81%1.00%3.45%11.04%0.83%1.68%7.21%0.52%1.49%1,6771,8921,6711,9601,6791,5881,8831,4551,529

    Sep-840.67%0.99%1.51%0.02%0.86%2.38%1.30%0.52%0.96%1,6881,9111,6961,9601,6931,6251,9081,4631,543

    Oct-84-1.48%0.98%3.63%0.39%1.00%4.24%3.74%0.52%1.25%1,6631,9301,7581,9681,7101,6941,9791,4701,563

    Nov-840.94%0.96%2.70%-1.12%0.73%1.79%0.58%0.50%1.27%1,6791,9481,8051,9461,7231,7251,9911,4781,583

    Dec-841.84%0.89%2.19%2.63%0.64%1.46%3.68%0.54%0.70%1,7101,9661,8451,9971,7341,7502,0641,4861,594

    Jan-858.27%0.82%2.50%7.79%0.65%2.28%1.96%0.52%0.59%1,8511,9821,8912,1531,7451,7902,1041,4941,603

    Feb-850.22%0.80%-4.03%1.22%0.58%-2.05%3.16%0.47%-0.88%1,8551,9981,8152,1791,7551,7532,1711,5011,589

    Mar-851.17%0.85%3.81%0.07%0.62%2.04%2.46%0.55%1.13%1,8772,0151,8842,1811,7661,7892,2241,5091,607

    Apr-851.04%0.86%2.02%-0.09%0.72%2.07%-2.49%0.50%0.82%1,8962,0321,9222,1791,7791,8262,1691,5161,620

    May-854.19%0.78%5.45%5.78%0.66%5.23%2.63%0.51%1.24%1,9762,0482,0272,3051,7901,9212,2261,5241,640

    Jun-85-0.45%0.80%1.11%1.57%0.55%1.06%2.65%0.50%1.09%1,9672,0642,0492,3411,8001,9422,2851,5321,658

    Jul-852.62%0.77%-0.57%-0.15%0.62%-0.35%-3.60%0.53%0.74%2,0182,0802,0372,3371,8111,9352,2031,5401,670

    Aug-851.75%0.74%1.51%-0.85%0.55%1.88%2.96%0.52%1.06%2,0542,0952,0682,3171,8211,9712,2681,5481,688

    Sep-85-6.32%0.74%0.38%-3.13%0.60%0.60%2.34%0.53%1.27%1,9242,1112,0762,2451,8321,9832,3211,5561,710

    Oct-851.79%0.71%2.82%4.62%0.65%2.10%0.02%0.56%-2.04%1,9582,1262,1352,3481,8442,0252,3211,5651,675

    Nov-857.07%0.71%2.83%6.86%0.61%2.40%-1.45%0.60%1.37%2,0972,1412,1952,5101,8552,0732,2881,5741,698

    Dec-851.97%0.74%1.88%4.84%0.65%3.06%4.10%0.68%2.24%2,1382,1572,2362,6311,8682,1372,3811,5851,736

    Jan-86-1.86%0.77%-1.94%0.56%0.56%0.56%0.08%0.58%0.90%2,0982,1732,1932,6461,8782,1492,3831,5941,751

    Feb-860.65%0.84%3.29%7.47%0.53%3.94%4.82%0.44%2.41%2,1122,1922,2652,8431,8882,2332,4981,6011,793

    Mar-867.15%0.98%4.61%5.58%0.60%3.11%15.98%0.47%1.87%2,2632,2132,3693,0021,8992,3032,8971,6091,827

    Apr-861.19%0.86%0.59%-1.13%0.52%0.53%-0.07%0.39%0.11%2,2902,2322,3832,9681,9092,3152,8951,6151,829

    May-861.59%0.71%-1.15%5.32%0.49%-1.91%3.71%0.36%-1.01%2,3262,2482,3563,1261,9182,2713,0031,6211,810

    Jun-86-0.76%0.70%2.78%1.69%0.52%2.62%4.75%0.36%1.04%2,3092,2642,4223,1791,9282,3303,1461,6271,829

    Jul-86-4.71%0.68%0.84%-5.59%0.52%0.89%5.10%0.38%0.92%2,2002,2792,4423,0011,9382,3513,3061,6331,846

    Aug-863.37%0.67%1.90%7.42%0.46%2.49%8.44%0.39%1.40%2,2742,2952,4883,2241,9472,4103,5851,6391,872

    Sep-86-1.26%0.66%-0.90%-8.27%0.45%-0.99%-0.95%0.38%-0.41%2,2452,3102,4662,9571,9562,3863,5511,6451,864

    Oct-862.14%0.66%0.66%5.77%0.46%1.45%-7.59%0.37%0.88%2,2932,3252,4823,1281,9652,4203,2811,6511,881

    Nov-860.47%0.68%2.25%2.43%0.39%1.40%7.04%0.31%1.12%2,3042,3412,5383,2041,9732,4543,5121,6571,902

    Dec-861.10%0.68%1.05%-2.55%0.49%0.38%2.81%0.36%0.85%2,3302,3572,5653,1221,9832,4643,6111,6621,918

    Jan-879.34%0.67%2.96%13.47%0.42%1.41%8.47%0.35%1.80%2,5472,3722,6413,5431,9912,4983,9171,6681,952

    Feb-874.64%0.62%-0.09%3.95%0.43%0.69%2.97%0.31%1.59%2,6652,3872,6383,6831,9992,5164,0331,6731,984

    Mar-877.25%0.59%1.64%2.89%0.47%-0.45%2.06%0.33%1.29%2,8592,4012,6813,7892,0092,5044,1161,6792,009

    Apr-87-0.51%0.57%-3.79%-0.89%0.44%-2.74%8.56%0.29%1.43%2,8442,4152,5803,7552,0182,4364,4691,6842,038

    May-87-0.64%0.61%0.71%0.87%0.38%-0.39%4.09%0.27%0.55%2,8262,4302,5983,7882,0252,4264,6521,6882,049

    Jun-871.84%0.65%0.99%5.05%0.48%1.38%-3.48%0.26%-1.77%2,8782,4452,6243,9792,0352,4604,4901,6932,013

    Jul-877.90%0.67%-1.97%5.07%0.46%-0.08%-0.37%0.27%-1.52%3,1052,4622,5724,1812,0442,4584,4731,6971,982

    Aug-87-0.76%0.73%-0.87%3.73%0.47%-0.54%6.56%0.27%-0.19%3,0812,4802,5504,3372,0542,4444,7661,7021,978

    Sep-87-2.00%0.71%-1.66%-2.19%0.45%-2.13%0.31%0.28%-2.63%3,0202,4972,5074,2422,0632,3924,7811,7071,926

    Oct-87-22.52%0.71%6.39%-21.54%0.60%3.56%-10.45%0.29%3.13%2,3402,5152,6683,3282,0762,4774,2821,7121,987

    Nov-87-1.06%0.60%-1.56%-8.24%0.35%0.80%-3.94%0.28%1.38%2,3152,5302,6263,0542,0832,4974,1131,7162,014

    Dec-876.54%0.68%1.61%7.61%0.39%1.36%-6.28%0.32%1.30%2,4662,5472,6683,2872,0912,5313,8551,7222,040

    Jan-88-3.11%0.62%4.69%4.21%0.29%3.52%11.12%0.30%1.23%2,3902,5632,7933,4252,0972,6204,2831,7272,065

    Feb-885.04%0.66%1.01%4.66%0.46%1.19%8.16%0.27%0.45%2,5102,5802,8223,5852,1072,6524,6331,7322,075

    Mar-883.81%0.69%-0.92%-3.09%0.44%-0.94%3.99%0.30%0.59%2,6062,5982,7963,4742,1162,6274,8181,7372,087

    Apr-880.91%0.69%-0.65%1.11%0.46%-0.54%2.93%0.27%0.69%2,6292,6162,7783,5122,1262,6124,9591,7422,101

    May-88-2.40%0.69%1.25%0.86%0.51%-0.67%-2.58%0.28%-0.57%2,5662,6342,8123,5432,1372,5954,8311,7472,089

    Jun-886.33%0.74%1.40%4.59%0.49%2.41%2.85%0.28%-0.34%2,7292,6532,8523,7052,1472,6574,9691,7512,082

    Jul-88-1.72%0.74%-0.71%-0.38%0.51%-0.52%3.18%0.31%0.35%2,6822,6732,8313,6912,1582,6445,1271,7572,090

    Aug-88-2.27%0.75%-0.65%-3.39%0.59%0.26%-5.16%0.32%-0.64%2,6212,6932,8133,5662,1712,6514,8621,7622,076

    Sep-880.31%0.78%2.45%4.26%0.62%2.26%1.76%0.32%0.85%2,6292,7142,8823,7182,1842,7104,9481,7682,094

    Oct-883.58%0.84%2.28%2.78%0.61%1.88%0.09%0.33%1.88%2,7232,7372,9483,8212,1972,7614,9521,7742,133

    Nov-88-2.66%0.85%-0.88%-1.43%0.57%-1.21%5.68%0.30%0.75%2,6512,7602,9223,7672,2102,7285,2331,7792,149

    Dec-883.35%0.86%0.28%1.74%0.63%0.11%2.82%0.34%0.36%2,7402,7842,9303,8322,2242,7315,3811,7852,157

    Jan-896.97%0.85%1.53%7.32%0.55%1.44%5.13%0.33%0.21%2,9312,8082,9754,1132,2362,7705,6571,7912,161

    Feb-89-1.12%0.90%-1.43%-2.49%0.61%-0.72%-0.41%0.30%-0.66%2,8982,8332,9324,0102,2502,7505,6341,7972,147

    Mar-890.65%0.94%1.26%2.33%0.67%0.43%1.10%0.34%-0.04%2,9172,8592,9694,1042,2652,7625,6961,8032,146

    Apr-891.52%0.96%2.63%5.19%0.67%2.09%1.09%0.33%0.20%2,9612,8873,0474,3172,2802,8205,7581,8092,151

    May-892.63%0.99%2.52%4.05%0.79%2.63%1.72%0.36%-0.23%3,0392,9153,1244,4912,2982,8945,8571,8152,146

    Jun-891.87%1.01%2.52%-0.57%0.71%3.04%-3.71%0.40%-0.22%3,0962,9453,2034,4662,3142,9825,6391,8222,141

    Jul-895.77%1.00%1.44%9.03%0.70%2.13%7.31%0.43%1.46%3,2742,9743,2494,8692,3313,0466,0521,8302,172

    Aug-891.25%1.01%-0.90%1.95%0.74%-1.48%-1.40%0.44%0.23%3,3153,0043,2204,9642,3483,0005,9671,8382,177

    Sep-89-1.28%1.01%-0.51%-0.41%0.65%0.51%4.53%0.43%-0.12%1,0001,0001,0001,0001,0001,0001,0001,0001,0003,2733,0353,2034,9442,3633,0166,2371,8462,175

    Oct-89-0.41%1.00%2.39%-2.32%0.68%2.46%0.12%0.50%-1.00%9961,0101,0249771,0071,0251,0011,0059903,2593,0653,2804,8292,3793,0906,2451,8552,153

    Nov-890.90%1.01%-0.61%2.04%0.69%0.95%5.04%0.49%-0.13%1,0051,0201,0189971,0141,0341,0521,0109893,2893,0963,2604,9272,3963,1196,5601,8652,150

    Dec-891.10%1.00%1.40%2.40%0.61%0.27%1.51%0.53%-0.44%1,0161,0301,0321,0211,0201,0371,0681,0159843,3253,1273,3055,0462,4103,1286,6591,8742,1411,0001,0001,0001,0001,0001,0001,0001,0001,000

    Jan-90-6.53%1.00%-0.75%-6.71%0.57%-1.19%-4.51%0.55%-2.41%9501,0411,0249521,0261,0251,0191,0219613,1083,1583,2814,7072,4243,0916,3581,8852,0899351,0109939331,0069889551,006976

    Feb-90-0.26%1.05%-2.94%1.29%0.57%0.32%-5.74%0.50%-0.50%9471,0529949641,0321,0289611,0269563,1003,1913,1844,7682,4383,1005,9931,8942,0799321,0219639451,0119919001,011971

    Mar-90-0.85%1.07%-1.39%2.65%0.64%0.07%-12.94%0.56%-1.07%9391,0639809901,0381,0298371,0329463,0733,2263,1404,8942,4533,1035,2181,9052,0569241,0329509701,0189927841,016961

    Apr-90-8.06%1.09%-1.19%-2.49%0.69%-0.92%-0.39%0.58%0.81%8631,0749699651,0451,0198331,0389532,8263,2613,1024,7722,4703,0745,1971,9162,0738501,0439399461,0259837811,022968

    May-907.58%1.10%4.54%9.75%0.68%2.96%10.43%0.60%2.35%9291,0861,0131,0591,0521,0499201,0449763,0403,2973,2435,2382,4873,1655,7401,9272,1229141,0549811,0381,0321,0128621,028991

    Jun-90-0.61%1.14%1.48%-0.67%0.63%1.60%-3.10%0.59%-0.47%9231,0991,0281,0521,0591,0668921,0509713,0213,3343,2915,2032,5033,2165,5621,9392,1129091,0669961,0311,0381,0288351,034987

    Jul-900.68%1.12%2.06%-0.32%0.68%1.38%-3.01%0.63%-0.63%9291,1111,0491,0491,0661,0818651,0579653,0423,3723,3595,1862,5203,2605,3941,9512,0989151,0781,0161,0281,0451,0428101,041980

    Aug-90-5.72%1.11%0.43%-9.04%0.66%-1.34%-12.70%0.63%-1.72%8761,1231,0539541,0731,0677551,0639482,8683,4093,3744,7172,5363,2164,7091,9632,0628631,0901,0219351,0521,0287071,047963

    Sep-90-5.20%1.06%-1.25%-4.87%0.60%0.83%-20.00%0.62%-1.12%8311,1351,0409081,0801,0756041,0709382,7193,4453,3314,4872,5523,2433,7671,9752,0398181,1021,0088891,0591,0375661,054953

    Oct-90-2.26%1.01%1.66%-0.43%0.68%1.27%18.08%0.65%3.93%8121,1471,0579041,0871,0897131,0779752,6573,4803,3874,4682,5693,2844,4481,9882,1197991,1131,0258861,0661,0506681,061990

    Nov-902.62%1.03%3.07%6.46%0.57%2.15%-12.46%0.65%1.62%8331,1581,0909621,0931,1126241,0849902,7273,5163,4914,7572,5843,3553,8942,0012,1548201,1241,0569431,0721,0735851,0681,006

    Dec-903.89%1.02%1.82%2.79%0.60%1.56%4.10%0.69%1.60%8661,1701,1109891,1001,1306501,0911,0062,8333,5523,5544,8892,5993,4074,0542,0152,1888521,1361,0759691,0781,0896091,0751,022

    Jan-910.67%0.94%2.28%4.36%0.52%1.24%-2.17%0.68%1.31%8711,1811,1351,0321,1061,1446361,0991,0192,8523,5853,6355,1032,6133,4493,9662,0292,2178581,1461,1001,0111,0841,1035961,0821,036

    Feb-916.11%0.91%2.95%7.15%0.48%0.85%16.16%0.62%1.02%9251,1921,1681,1061,1111,1547391,1061,0303,0263,6183,7425,4672,6253,4794,6072,0412,2399101,1571,1321,0841,0891,1126921,0891,046

    Mar-911.39%0.80%0.92%2.42%0.44%0.69%0.89%0.70%-0.32%9381,2021,1791,1331,1161,1617451,1131,0273,0683,6473,7775,6002,6373,5034,6482,0552,2329231,1661,1431,1101,0941,1206981,0971,043

    Apr-91-0.54%0.80%0.90%0.24%0.53%1.08%-0.83%0.67%0.19%9321,2111,1901,1351,1221,1747391,1211,0283,0523,6763,8115,6132,6513,5414,6092,0692,2369181,1751,1531,1121,1001,1326921,1041,045

    May-912.68%0.76%0.72%4.31%0.47%0.58%-0.31%0.68%0.89%9571,2201,1981,1841,1271,1817371,1281,0383,1333,7043,8385,8552,6633,5614,5952,0832,2569421,1841,1611,1601,1051,1396901,1111,054

    Jun-91-1.78%0.73%-1.13%-4.58%0.42%-0.05%-7.05%0.65%-0.13%9401,2291,1851,1301,1321,1806851,1361,0363,0783,7313,7955,5872,6743,5594,2712,0972,2539261,1931,1481,1071,1101,1386411,1191,053

    Jul-912.29%0.71%1.83%4.66%0.49%1.39%2.02%0.63%1.61%9621,2381,2061,1831,1371,1976991,1431,0533,1483,7573,8645,8472,6873,6094,3572,1102,2909471,2021,1691,1591,1151,1546541,1261,070

    Aug-91-0.35%0.71%1.98%2.37%0.46%2.16%-7.49%0.63%1.24%9591,2471,2301,2111,1421,2226461,1501,0663,1373,7843,9415,9862,7003,6874,0312,1232,3189441,2101,1921,1861,1201,1796051,1331,083

    Sep-91-3.31%0.70%3.77%-1.67%0.46%2.03%6.70%0.57%2.13%9271,2561,2771,1911,1481,2476901,1571,0893,0333,8104,0905,8862,7123,7624,3012,1352,3689121,2191,2371,1671,1251,2036461,1391,106

    Oct-913.91%0.71%2.95%1.34%0.42%1.11%1.75%0.58%0.89%9631,2641,3141,2071,1531,2617021,1631,0983,1523,8374,2105,9652,7243,8034,3762,1482,3899481,2271,2741,1821,1301,2166571,1461,116

    Nov-91-1.65%0.67%0.81%-4.03%0.39%0.92%-8.80%0.52%0.81%9471,2731,3251,1581,1571,2736401,1691,1073,1003,8634,2445,7242,7343,8383,9912,1592,4089321,2351,2841,1351,1341,2275991,1521,125

    Dec-912.37%0.62%2.27%11.44%0.38%2.97%-0.47%0.53%1.79%9701,2811,3551,2901,1611,3116371,1761,1273,1733,8874,3416,3792,7453,9523,9722,1702,4519541,2431,3131,2641,1391,2645971,1581,145

    Jan-922.55%0.60%-0.52%-1.86%0.34%-1.36%-3.86%0.46%1.10%9941,2891,3481,2661,1651,2936121,1811,1403,2543,9104,3186,2612,7543,8993,8192,1802,4789791,2511,3061,2411,1431,2465741,1631,158

    Feb-92-0.15%0.59%0.62%1.30%0.28%0.65%-3.83%0.45%0.24%9931,2961,3561,2831,1691,3015891,1861,1423,2493,9334,3456,3422,7623,9243,6732,1902,4849771,2581,3141,2571,1461,2555521,1691,160

    Mar-92-4.34%0.60%-1.47%-1.94%0.34%-0.56%-8.14%0.47%0.68%9501,3041,3361,2581,1731,2945411,1921,1503,1083,9574,2816,2192,7713,9023,3742,2012,5019351,2651,2951,2331,1501,2485071,1741,168

    Apr-92-1.52%0.59%0.63%2.94%0.32%0.72%-5.61%0.39%-0.18%9351,3121,3451,2951,1761,3035111,1971,1483,0613,9804,3086,4022,7803,9303,1852,2092,4969211,2731,3031,2691,1531,2574781,1791,166

    May-921.22%0.54%3.28%0.49%0.28%1.89%4.38%0.40%0.76%9471,3191,3891,3011,1801,3285331,2011,1573,0984,0024,4496,4332,7884,0043,3242,2182,5159321,2801,3461,2751,1571,2804991,1831,175

    Jun-920.44%0.51%2.42%-1.49%0.32%1.38%-9.62%0.39%1.22%9511,3251,4231,2821,1831,3464821,2061,1713,1124,0224,5576,3372,7974,0603,0042,2272,5469361,2861,3791,2561,1601,2984511,1881,189

    Jul-921.77%0.46%4.74%4.09%0.31%2.04%-2.72%0.38%2.00%9681,3321,4901,3341,1871,3744691,2111,1943,1674,0414,7736,5972,8054,1422,9232,2352,5979531,2921,4441,3071,1641,3244391,1921,213

    Aug-92-0.93%0.45%0.94%-2.05%0.26%1.01%11.59%0.34%0.74%9591,3381,5041,3071,1901,3875231,2151,2033,1384,0594,8186,4612,8134,1843,2612,2432,6169441,2981,4581,2811,1671,3384901,1961,222

    Sep-92-2.68%0.39%-2.72%1.18%0.26%1.19%-5.05%0.34%1.07%9331,3431,4631,3221,1931,4044961,2191,2163,0544,0754,6876,5382,8204,2343,0972,2502,6449181,3031,4181,2961,1701,3544651,2011,235

    Oct-921.28%0.67%2.57%0.35%0.23%-1.33%-2.80%0.34%0.77%9451,3521,5011,3271,1961,3854831,2231,2253,0934,1024,8076,5602,8264,1783,0102,2582,6649301,3121,4541,3001,1731,3364521,2051,245

    Nov-92-1.29%0.57%-2.74%3.41%0.23%0.02%2.92%0.32%0.65%9331,3591,4601,3721,1991,3864971,2271,2333,0534,1254,6756,7842,8334,1793,0982,2652,6829181,3191,4151,3451,1751,3364651,2081,253

    Dec-922.46%0.66%2.00%1.23%0.28%1.59%-0.93%0.33%0.60%9561,3681,4891,3891,2021,4084921,2311,2413,1284,1534,7696,8682,8414,2453,0692,2732,6989411,3281,4431,3611,1791,3574611,2121,260

    Jan-93-1.24%0.55%0.45%0.84%0.23%1.92%-0.70%0.33%1.19%9441,3761,4961,4011,2051,4354891,2351,2553,0894,1764,7906,9252,8474,3273,0472,2802,7309291,3351,4491,3731,1811,3834581,2161,275

    Feb-934.61%0.52%3.27%1.36%0.22%1.75%-1.14%0.25%1.93%9871,3831,5441,4201,2081,4604831,2381,2803,2314,1974,9477,0202,8544,4023,0132,2862,7839721,3421,4971,3911,1841,4074521,2201,300

    Mar-934.81%0.46%0.30%2.11%0.25%0.42%13.24%0.27%-1.24%1,0351,3891,5491,4501,2111,4665471,2411,2643,3874,2174,9627,1682,8614,4213,4122,2922,7481,0191,3481,5011,4211,1871,4135121,2231,284

    Apr-935.30%0.42%0.62%-2.42%0.24%0.70%13.54%0.26%0.00%1,0901,3951,5591,4151,2141,4766211,2451,2643,5664,2344,9936,9942,8684,4523,8732,2982,7481,0731,3541,5101,3861,1901,4235821,2261,284

    May-932.84%0.39%1.41%2.68%0.22%0.13%0.16%0.27%0.07%1,1211,4011,5811,4531,2161,4786221,2481,2653,6684,2515,0637,1822,8744,4573,8802,3042,7501,1031,3591,5321,4231,1921,4255831,2291,285

    Jun-932.53%0.39%1.85%0.29%0.25%1.81%-4.42%0.26%1.39%1,1491,4061,6101,4571,2191,5055951,2511,2823,7614,2675,1577,2022,8814,5383,7082,3102,7881,1311,3651,5601,4271,1951,4515571,2321,303

    Jul-930.11%0.36%2.27%-0.40%0.24%0.57%4.45%0.27%1.22%1,1501,4111,6461,4511,2221,5136211,2551,2983,7654,2835,2747,1742,8884,5643,8732,3162,8221,1321,3701,5961,4221,1981,4595821,2361,318

    Aug-934.48%0.33%2.38%3.79%0.25%1.75%2.10%0.26%1.27%1,2021,4161,6861,5061,2251,5406341,2581,3143,9334,2975,3997,4462,8954,6443,9552,3222,8581,1831,3741,6341,4761,2011,4855941,2391,335

    Sep-93-3.25%0.36%-1.08%-0.77%0.26%0.27%-3.25%0.23%1.75%1,1631,4211,6671,4941,2281,5446131,2611,3373,8054,3125,3417,3882,9034,6563,8262,3282,9081,1451,3791,6161,4641,2041,4895751,2421,359

    Oct-936.73%0.37%2.54%2.07%0.22%0.37%-0.59%0.21%1.37%1,2411,4261,7101,5251,2311,5506101,2631,3564,0624,3285,4777,5412,9094,6743,8032,3332,9481,2221,3841,6571,4951,2071,4945711,2441,377

    Nov-93-1.57%0.35%0.63%-0.95%0.25%-0.85%-14.60%0.20%1.96%1,2221,4311,7211,5111,2341,5375211,2661,3823,9984,3435,5117,4692,9164,6343,2482,3373,0061,2021,3891,6671,4801,2101,4824881,2471,404

    Dec-933.71%0.32%2.22%1.21%0.23%0.54%4.74%0.20%0.97%1,2671,4361,7591,5291,2371,5455451,2691,3964,1464,3575,6337,5602,9234,6593,4022,3423,0351,2471,3931,7041,4981,2131,4905111,2491,418

    Jan-945.48%0.30%2.26%3.40%0.25%1.35%13.47%0.19%-2.59%1,3361,4401,7981,5811,2401,5666191,2711,3604,3734,3705,7617,8172,9304,7223,8602,3462,9561,3151,3981,7431,5491,2161,5105801,2521,381

    Feb-94-2.70%0.30%-2.78%-2.71%0.21%-1.74%0.32%0.17%-0.72%1,3001,4441,7481,5381,2431,5386211,2731,3504,2554,3845,6017,6052,9374,6403,8732,3502,9351,2801,4021,6941,5071,2181,4835821,2541,371

    Mar-94-1.81%0.30%-4.96%-4.36%0.27%-2.47%-3.43%0.18%0.65%1,2771,4491,6621,4711,2461,5006001,2751,3594,1784,3975,3237,2732,9454,5253,7402,3552,9541,2571,4061,6101,4421,2221,4475621,2561,380

    Apr-94-1.36%0.39%-0.29%1.28%0.27%-0.80%2.18%0.17%0.12%1,2591,4541,6571,4901,2491,4886131,2781,3604,1214,4145,3077,3672,9524,4893,8212,3592,9581,2401,4121,6061,4601,2251,4355741,2581,382

    May-941.60%0.46%-1.67%1.64%0.32%-0.01%4.69%0.17%1.18%1,2791,4611,6291,5151,2531,4886411,2801,3764,1874,4345,2197,4872,9624,4884,0012,3632,9931,2591,4181,5791,4841,2291,4356011,2611,398

    Jun-94-6.66%0.48%-1.96%-2.45%0.31%-0.22%-0.15%0.16%-1.37%1,1941,4681,5971,4771,2571,4856401,2821,3573,9084,4555,1167,3042,9714,4793,9952,3662,9521,1761,4251,5481,4481,2331,4326001,2631,379

    Jul-943.91%0.47%1.58%3.28%0.28%1.99%-2.16%0.17%0.02%1,2411,4751,6231,5261,2611,5156271,2841,3584,0614,4765,1977,5442,9794,5683,9082,3712,9521,2221,4321,5721,4951,2361,4605871,2651,379

    Aug-944.26%0.44%2.96%4.10%0.37%0.12%0.45%0.18%-1.07%1,2941,4821,6711,5881,2651,5166291,2861,3434,2344,4965,3517,8532,9904,5733,9262,3752,9211,2741,4381,6191,5561,2411,4625901,2671,364

    Sep-940.39%0.44%0.55%-2.45%0.37%-1.47%-3.50%0.18%1.18%1,2991,4881,6801,5501,2701,4946071,2891,3594,2514,5165,3817,6603,0024,5063,7892,3792,9551,2791,4441,6281,5181,2451,4415691,2691,381

    Oct-94-1.35%0.41%-0.36%2.25%0.38%-0.09%0.38%0.19%-0.21%1,2811,4941,6741,5841,2751,4936101,2911,3564,1934,5345,3617,8333,0134,5023,8032,3842,9491,2611,4501,6221,5521,2501,4395711,2721,378

    Nov-94-4.42%0.41%0.24%-3.64%0.37%-0.22%-4.16%0.18%0.71%1,2251,5001,6781,5271,2801,4895841,2931,3664,0084,5535,3747,5483,0244,4923,6452,3882,9701,2061,4561,6261,4961,2551,4365471,2741,387

    Dec-943.28%0.44%0.31%1.48%0.44%0.69%2.28%0.19%0.82%1,2651,5071,6831,5491,2851,5005981,2961,3774,1404,5735,3917,6593,0374,5233,7282,3922,9941,2451,4621,6311,5181,2601,4465601,2761,399

    Jan-95-4.57%0.43%0.38%2.59%0.42%1.98%-6.93%0.19%0.36%1,2071,5131,6891,5891,2911,5295561,2981,3823,9504,5935,4117,8583,0504,6133,4692,3973,0051,1881,4691,6371,5571,2661,4755211,2791,404

    Feb-952.85%0.59%4.69%3.90%0.40%2.38%-7.68%0.16%1.33%1,2411,5221,7691,6511,2961,5665141,3001,4004,0634,6205,6658,1643,0624,7223,2032,4013,0451,2221,4771,7141,6181,2711,5104811,2811,422

    Mar-954.94%0.61%0.16%2.95%0.46%0.61%-1.89%0.18%3.56%1,3031,5321,7711,7001,3021,5755041,3031,4504,2644,6485,6748,4053,0764,7513,1432,4053,1531,2821,4861,7171,6661,2761,5194721,2831,473

    Apr-95-0.71%0.63%1.97%2.94%0.44%1.40%0.88%0.12%1.22%1,2941,5411,8061,7501,3081,5975081,3041,4684,2334,6775,7868,6523,0904,8183,1702,4083,1921,2731,4961,7501,7151,2821,5404761,2851,491

    May-954.18%0.70%2.80%4.00%0.54%3.87%-6.11%0.11%3.42%1,3481,5521,8571,8201,3151,6594771,3061,5184,4104,7105,9488,9983,1075,0042,9762,4113,3011,3271,5061,7991,7831,2891,6004471,2861,542

    Jun-952.08%0.63%0.53%2.32%0.47%0.73%-3.34%0.10%0.43%1,3761,5621,8671,8621,3211,6714611,3071,5244,5024,7405,9799,2073,1215,0412,8772,4133,3151,3541,5161,8091,8251,2951,6124321,2871,549

    Jul-952.02%0.57%-1.49%3.32%0.45%-0.22%10.63%0.08%-0.06%1,4031,5711,8391,9241,3271,6685101,3081,5244,5934,7675,8909,5133,1355,0303,1832,4153,3131,3811,5241,7821,8851,3011,6084781,2881,548

    Aug-95-1.95%0.55%2.74%0.25%0.47%1.21%8.02%0.07%-1.03%1,3761,5791,8891,9291,3331,6885511,3091,5084,5034,7936,0529,5363,1505,0903,4382,4173,2791,3551,5331,8311,8901,3071,6275161,2891,532

    Sep-950.57%0.50%1.73%4.22%0.43%0.97%0.98%0.04%2.51%1,3841,5871,9222,0101,3391,7045571,3101,5464,5294,8176,1569,9393,1645,1403,4722,4183,3611,3621,5401,8631,9701,3131,6435211,2901,570

    Oct-95-1.47%0.59%1.67%-0.36%0.47%1.30%-1.33%0.03%-0.12%1,3641,5971,9542,0031,3451,7265491,3101,5444,4634,8456,2599,9033,1785,2073,4262,4183,3571,3421,5491,8941,9631,3191,6655141,2901,568

    Nov-954.75%0.45%2.74%4.39%0.42%1.50%4.08%0.03%0.93%1,4281,6042,0082,0911,3511,7525721,3101,5584,6754,8676,43110,3383,1925,2853,5652,4193,3881,4061,5561,9462,0491,3241,6905351,2911,583

    Dec-951.43%0.47%1.15%1.93%0.49%1.40%6.08%0.03%-1.06%1,4491,6112,0312,1311,3571,7776061,3111,5424,7414,8906,50510,5373,2075,3593,7822,4203,3531,4261,5641,9682,0881,3311,7135681,2911,566

    Jan-965.49%0.52%1.12%3.40%0.43%0.66%2.73%0.03%-0.33%1,5281,6202,0532,2041,3631,7896231,3111,5375,0024,9156,57810,8963,2215,3943,8852,4213,3421,5041,5721,9902,1591,3361,7255841,2911,561

    Feb-96-0.53%0.40%-1.64%0.93%0.39%-1.74%-2.92%0.03%-1.04%1,5201,6262,0202,2241,3681,7576051,3111,5214,9754,9356,47010,9973,2345,3003,7722,4213,3071,4961,5781,9572,1791,3421,6955661,2921,545

    Mar-961.03%0.41%0.05%0.96%0.39%-0.70%4.82%0.03%1.52%1,5361,6332,0212,2461,3741,7456341,3121,5445,0264,9556,47311,1033,2465,2633,9542,4223,3571,5121,5851,9582,2001,3471,6835941,2921,568

    Apr-963.62%0.44%0.05%1.47%0.46%-0.56%4.79%0.03%-0.79%1,5911,6402,0222,2791,3801,7356641,3121,5325,2084,9776,47611,2663,2615,2344,1432,4233,3311,5671,5921,9592,2331,3531,6736221,2931,556

    May-962.13%0.39%1.01%2.58%0.42%-0.20%-1.91%0.03%1.27%1,6251,6462,0422,3381,3861,7326521,3131,5515,3194,9966,54211,5563,2755,2234,0642,4233,3731,6001,5981,9792,2901,3591,6706101,2931,576

    Jun-96-3.57%0.35%1.04%0.38%0.40%1.34%2.16%0.03%0.27%1,5671,6522,0632,3471,3911,7556661,3131,5555,1295,0146,61011,6003,2885,2934,1522,4243,3821,5431,6032,0002,2991,3641,6926241,2931,580

    Jul-96-2.19%0.43%1.13%-4.42%0.45%0.27%-6.99%0.04%-0.21%1,5331,6592,0872,2431,3981,7606191,3141,5525,0175,0356,68411,0883,3035,3073,8622,4253,3751,5091,6102,0222,1971,3701,6975801,2941,577

    Aug-964.50%0.38%1.50%2.11%0.41%-0.17%-2.65%0.03%2.10%1,6021,6662,1182,2901,4031,7576031,3141,5855,2435,0556,78511,3223,3165,2983,7592,4263,4461,5771,6162,0532,2441,3761,6945651,2941,610

    Sep-963.12%0.32%2.32%5.63%0.44%1.74%5.28%0.03%0.68%1,6521,6712,1672,4191,4101,7876351,3141,5955,4065,0716,94211,9593,3315,3913,9582,4273,4691,6261,6222,1002,3701,3821,7235941,2951,621

    Oct-965.92%0.35%4.30%2.76%0.42%2.22%-4.69%0.04%1.64%1,7501,6772,2602,4861,4161,8276051,3151,6215,7265,0897,24012,2893,3455,5103,7722,4283,5261,7221,6272,1912,4361,3881,7625671,2951,647

    Nov-967.64%0.25%2.57%7.56%0.41%1.71%0.90%0.03%0.51%1,8831,6812,3182,6741,4211,8586101,3151,6306,1645,1017,42713,2183,3595,6043,8062,4283,5441,8541,6312,2472,6201,3941,7925721,2951,656

    Dec-96-1.27%0.27%-1.66%-1.98%0.46%-0.93%-4.93%0.04%-0.50%1,8601,6852,2802,6211,4281,8415801,3161,6226,0865,1157,30312,9563,3745,5523,6182,4293,5261,8301,6362,2102,5681,4001,7755431,2961,647

    Jan-973.17%0.18%-0.07%6.25%0.45%0.31%-5.19%0.04%1.18%1,9181,6892,2782,7851,4341,8475501,3161,6416,2795,1247,29813,7663,3895,5703,4312,4303,5681,8881,6392,2082,7281,4061,7815151,2971,667

    Feb-970.93%0.21%1.20%0.78%0.39%0.25%0.79%0.03%-0.04%1,9361,6922,3062,8061,4401,8515541,3171,6406,3375,1357,38613,8733,4035,5833,4582,4313,5661,9061,6422,2342,7501,4121,7855191,2971,666

    Mar-97-4.77%0.21%-1.48%-4.11%0.43%-1.11%-0.61%0.04%0.47%1,8441,6962,2722,6911,4461,8315511,3171,6486,0355,1467,27613,3033,4175,5223,4372,4323,5831,8151,6462,2012,6371,4181,7655161,2971,674

    Apr-972.23%0.25%1.21%5.97%0.43%1.50%5.11%0.04%-0.39%1,8851,7002,2992,8521,4521,8585791,3181,6416,1695,1597,36414,0973,4325,6043,6122,4333,5691,8561,6502,2282,7941,4241,7925431,2981,667

    May-976.97%0.25%1.49%6.09%0.49%0.95%3.14%0.04%-0.76%2,0161,7042,3333,0251,4591,8765971,3181,6296,5995,1727,47414,9563,4495,6583,7262,4343,5421,9851,6542,2612,9641,4311,8095601,2981,655

    Jun-971.10%0.20%1.09%4.48%0.37%1.19%3.52%0.04%1.24%2,0391,7082,3593,1611,4651,8986181,3191,6496,6725,1827,55615,6263,4625,7253,8572,4353,5862,0071,6572,2863,0971,4361,8305791,2991,675

    Jul-976.90%0.26%3.26%7.96%0.43%2.70%-0.14%0.04%1.47%2,1791,7122,4363,4121,4711,9506171,3191,6737,1325,1957,80216,8703,4765,8793,8512,4363,6392,1451,6612,3603,3431,4421,8805781,3001,700

    Aug-97-3.75%0.24%-0.66%-5.60%0.41%-0.85%-8.11%0.04%0.75%2,0981,7162,4203,2211,4771,9335671,3201,6866,8655,2087,75015,9253,4915,8293,5392,4373,6662,0651,6652,3453,1561,4481,8645321,3001,713

    Sep-976.68%0.23%1.72%5.48%0.44%1.47%-2.50%0.04%0.73%2,2381,7202,4613,3981,4841,9615531,3201,6987,3235,2207,88416,7983,5065,9153,4512,4383,6932,2031,6692,3853,3291,4551,8915181,3011,725

    Oct-97-2.74%0.20%1.69%-3.34%0.42%1.45%-6.65%0.04%1.30%2,1761,7232,5033,2841,4901,9905161,3211,7207,1235,2308,01716,2373,5216,0013,2212,4393,7412,1421,6732,4253,2181,4611,9194841,3011,748

    Nov-97-4.69%0.25%-0.32%4.63%0.39%0.46%-2.26%0.04%-0.51%2,0741,7282,4953,4361,4961,9995051,3211,7116,7895,2437,99116,9893,5346,0293,1482,4403,7222,0421,6772,4183,3671,4661,9274731,3021,739

    Dec-973.08%0.33%0.20%1.72%0.48%1.01%-5.42%0.03%0.11%2,1381,7332,5003,4961,5032,0194771,3221,7136,9985,2618,00717,2813,5516,0892,9782,4403,7262,1051,6822,4233,4251,4741,9474471,3021,741

    Jan-980.09%0.24%1.62%1.11%0.43%1.28%7.46%0.04%-0.50%2,1401,7382,5403,5341,5092,0455131,3221,7057,0045,2738,13717,4733,5676,1673,2002,4413,7072,1071,6862,4623,4631,4801,9724811,3031,732

    Feb-985.98%0.29%0.06%7.21%0.39%-0.08%0.22%0.03%0.72%2,2681,7432,5423,7891,5152,0435141,3231,7177,4235,2898,14218,7323,5816,1623,2072,4423,7342,2331,6912,4633,7131,4861,9704821,3031,744

    Mar-986.76%0.41%1.12%5.12%0.39%0.34%-0.50%0.04%0.46%2,4211,7502,5703,9831,5212,0505121,3231,7257,9255,3108,23319,6913,5956,1833,1912,4433,7512,3841,6982,4913,9031,4911,9774791,3031,752

    Apr-981.48%0.35%0.47%1.01%0.43%0.52%-1.83%0.04%0.81%2,4571,7562,5824,0231,5282,0615021,3241,7398,0425,3298,27219,8903,6106,2163,1322,4443,7812,4191,7042,5033,9421,4981,9874701,3041,767

    May-98-0.87%0.38%0.71%-1.72%0.40%0.95%0.19%0.03%1.31%2,4361,7632,6013,9541,5342,0815031,3241,7627,9725,3498,33119,5483,6246,2753,1382,4453,8312,3981,7112,5203,8741,5042,0064711,3041,790

    Jun-98-2.74%0.40%0.41%4.06%0.41%0.85%1.12%0.03%-0.63%2,3691,7702,6114,1151,5402,0985091,3251,7517,7545,3708,36520,3423,6396,3283,1742,4463,8072,3321,7172,5314,0311,5102,0234771,3051,778

    Jul-98-5.84%0.39%-0.11%-1.06%0.40%0.21%3.16%0.03%0.49%2,2311,7772,6094,0711,5462,1035251,3251,7597,3015,3918,35520,1263,6546,3413,2742,4463,8262,1961,7242,5283,9891,5162,0274921,3051,787

    Aug-98-20.11%0.36%-1.11%-14.46%0.43%1.63%-11.48%0.03%0.90%1,7821,7832,5803,4821,5532,1374651,3251,7755,8335,4118,26317,2163,6706,4452,8982,4473,8601,7541,7302,5003,4121,5232,0604351,3061,803

    Sep-981.74%0.48%3.81%6.41%0.46%2.34%-5.38%0.02%1.88%1,8131,7922,6783,7061,5602,1874401,3261,8085,9345,4378,57818,3203,6866,5952,7422,4483,9321,7851,7392,5953,6311,5302,1094121,3061,837

    Oct-9810.68%0.40%-0.09%8.13%0.32%-0.53%-1.85%0.02%0.05%2,0071,7992,6754,0071,5652,1754311,3261,8096,5685,4598,57019,8093,6986,5602,6912,4483,9341,9751,7462,5933,9261,5342,0974041,3061,838

    Nov-982.31%0.39%1.14%6.06%0.31%0.57%10.01%0.02%-0.88%2,0531,8062,7064,2501,5702,1884751,3261,7936,7205,4808,66821,0093,7106,5982,9612,4493,9002,0211,7522,6224,1641,5392,1094451,3061,822

    Dec-982.48%0.42%0.86%5.76%0.38%0.30%-4.18%0.02%-4.09%2,1041,8132,7294,4951,5762,1944551,3271,7206,8865,5038,74222,2203,7246,6182,8372,4493,7402,0711,7602,6454,4041,5452,1164261,3071,747

    Jan-993.81%0.30%0.50%4.18%0.35%0.71%2.81%0.02%0.52%2,1841,8192,7434,6821,5812,2104681,3271,7297,1495,5198,78623,1483,7376,6652,9172,4493,7602,1501,7652,6584,5881,5502,1314381,3071,756

    Feb-99-6.09%0.32%-1.84%-3.11%0.35%-1.75%-0.40%0.01%1.09%2,0511,8252,6924,5371,5872,1714661,3271,7486,7135,5378,62422,4283,7506,5482,9052,4503,8012,0191,7712,6094,4451,5562,0944361,3071,776

    Mar-994.75%0.47%2.14%4.00%0.43%0.55%13.41%0.00%1.54%2,1491,8332,7504,7181,5942,1835281,3271,7757,0325,5638,80923,3263,7666,5843,2952,4503,8592,1151,7792,6654,6231,5632,1054951,3071,803

    Apr-996.39%0.39%0.08%3.87%0.37%0.32%5.04%0.00%1.74%2,2861,8402,7524,9011,6002,1905551,3271,8067,4815,5858,81624,2283,7806,6053,4612,4503,9262,2501,7862,6674,8021,5682,1125201,3071,834

    May-99-2.35%0.38%-0.92%-2.36%0.34%-0.88%-2.56%0.00%0.20%2,2321,8472,7274,7851,6052,1715411,3271,8097,3065,6068,73523,6563,7936,5473,3722,4503,9342,1971,7932,6434,6881,5742,0935061,3071,838

    Jun-992.65%0.36%-0.09%5.55%0.40%-0.32%9.75%0.00%-2.34%2,2911,8542,7245,0511,6112,1645931,3271,7677,4995,6268,72724,9693,8086,5263,7012,4503,8422,2561,7992,6404,9491,5802,0865561,3071,795

    Jul-991.10%0.35%-0.98%-3.12%0.38%-0.43%4.44%0.00%0.86%2,3171,8602,6984,8931,6182,1556201,3271,7827,5825,6468,64124,1903,8236,4983,8652,4503,8752,2801,8062,6144,7941,5862,0785801,3071,810

    Aug-99-1.45%0.39%0.31%-0.49%0.39%-0.05%-2.39%0.00%-0.28%2,2831,8682,7064,8691,6242,1546051,3271,7777,4725,6688,66824,0723,8376,4953,7732,4503,8642,2471,8132,6224,7711,5922,0765671,3071,805

    Sep-990.00%0.40%0.68%-2.74%0.39%1.16%2.87%0.00%1.38%1,0001,0001,0001,0001,0001,0001,0001,0001,0002,2831,8752,7244,7361,6302,1796221,3271,8027,4725,6918,72723,4123,8526,5703,8812,4503,9182,2471,8202,6404,6401,5982,1015831,3071,830

    Oct-994.37%0.36%-1.20%6.33%0.39%0.37%2.32%0.00%-0.13%1,0441,0049881,0631,0041,0041,0231,0009992,3831,8822,6925,0361,6372,1876371,3271,7997,7985,7118,62224,8943,8676,5943,9712,4503,9132,3451,8262,6094,9341,6052,1085961,3071,828

    Nov-993.79%0.39%0.31%2.03%0.36%-0.01%4.39%0.00%-0.23%1,0831,0089911,0851,0081,0041,0681,0009962,4731,8892,7005,1381,6422,1866651,3271,7958,0945,7338,64925,4003,8816,5944,1462,4503,9042,4341,8332,6175,0341,6102,1086231,3071,824

    Dec-9912.05%0.39%-0.08%5.89%0.44%-0.48%6.26%0.00%0.96%1,2141,0119901,1491,0129991,1351,0001,0062,7711,8972,6985,4401,6502,1767061,3271,8129,0695,7568,64226,8963,8986,5624,4052,4503,9412,7281,8412,6155,3301,6172,0986621,3071,841

    Jan-000.85%0.37%-0.53%-5.02%0.41%-0.33%-0.61%0.00%0.09%1,2241,0159851,0911,0169951,1281,0001,0072,7951,9042,6845,1671,6562,1697021,3271,8149,1465,7778,59625,5453,9146,5404,3782,4503,9452,7511,8472,6015,0631,6242,0916581,3071,843

    Feb-007.73%0.37%2.69%-1.89%0.43%1.21%1.10%0.00%-0.48%1,3191,0191,0121,0701,0201,0081,1401,0001,0023,0111,9112,7565,0701,6642,1957101,3271,8059,8535,7988,82725,0633,9316,6204,4262,4503,9262,9641,8542,6714,9671,6312,1166651,3071,834

    Mar-003.82%0.38%1.04%9.78%0.47%1.32%-0.12%0.00%0.36%1,3691,0231,0221,1751,0251,0211,1391,0001,0063,1261,9182,7855,5651,6712,2247091,3271,81210,2305,8208,91927,5143,9506,7074,4212,4503,9403,0771,8612,6985,4531,6392,1446641,3071,841

    Apr-00-1.17%0.40%-0.68%-3.01%0.46%-0.29%-2.92%0.00%0.37%1,3531,0271,0151,1401,0301,0181,1061,0001,0093,0891,9262,7665,3981,6792,2176881,3271,81910,1105,8448,85926,6863,9686,6874,2922,4503,9543,0411,8692,6805,2891,6462,1386451,3071,847

    May-00-0.93%0.43%0.98%-2.05%0.50%-0.05%-6.19%0.00%0.64%1,3411,0311,0251,1161,0351,0171,0371,0001,0163,0601,9342,7935,2871,6872,2166461,3271,83010,0165,8698,94526,1393,9886,6844,0262,4503,9803,0121,8772,7065,1801,6552,1376051,3071,859

    Jun-0010.37%0.41%1.44%2.47%0.40%2.08%5.24%0.00%-0.26%1,4801,0361,0401,1441,0391,0391,0921,0001,0133,3781,9422,8335,4181,6942,2626791,3271,82511,0555,8939,07426,7844,0046,8234,2372,4503,9693,3251,8842,7455,3081,6612,1816361,3071,854

    Jul-002.11%0.46%0.29%-1.56%0.48%0.91%-8.46%0.00%0.47%1,5111,0401,0431,1261,0441,0489991,0001,0183,4491,9512,8415,3331,7022,2836221,3271,83411,2885,9209,10126,3664,0236,8853,8792,4503,9883,3951,8932,7535,2251,6692,2015831,3071,863

    Aug-008.18%0.45%1.51%6.21%0.50%1.45%3.92%0.01%-0.97%1,6341,0451,0591,1961,0491,0631,0391,0001,0083,7311,9592,8845,6651,7112,3166461,3271,81612,2115,9479,23828,0044,0436,9854,0312,4503,9493,6731,9022,7955,5501,6772,2336051,3071,845

    Sep-00-7.62%0.44%0.25%-5.28%0.51%0.63%-3.12%0.02%0.33%1,5101,0501,0611,1331,0551,0701,0061,0001,0113,4471,9682,8915,3651,7202,3316261,3271,82211,2815,9739,26126,5254,0647,0293,9052,4503,9623,3931,9102,8025,2571,6862,2475861,3071,851

    Oct-00-7.08%0.46%-0.05%-0.42%0.56%0.66%-6.22%0.02%0.46%1,4031,0541,0611,1281,0611,0779441,0011,0163,2031,9772,8905,3431,7292,3465871,3281,83110,4826,0009,25626,4144,0867,0753,6622,4513,9813,1531,9192,8005,2351,6952,2625501,3081,860

    Nov-00-8.40%0.44%2.02%-7.88%0.51%1.64%-1.00%0.02%1.05%1,2851,0591,0821,0391,0661,0959341,0011,0272,9341,9862,9484,9221,7382,3855811,3281,8509,6026,0279,44324,3324,1077,1913,6262,4514,0222,8881,9272,8574,8221,7042,2995441,3081,879

    Dec-001.45%0.44%0.89%0.49%0.50%1.86%-4.77%0.02%-0.02%1,3041,0641,0921,0441,0711,1158901,0011,0272,9761,9952,9744,9461,7472,4295541,3281,8499,7416,0539,52724,4514,1287,3253,4532,4524,0222,9301,9362,8824,8461,7132,3425191,3081,879

    Jan-014.41%0.49%0.74%3.55%0.54%1.64%1.12%0.02%1.14%1,3611,0691,1001,0811,0771,1339001,0011,0383,1082,0042,9965,1221,7562,4695601,3281,87010,1706,0839,59825,3204,1507,4453,4912,4524,0683,0591,9452,9045,0181,7222,3805241,3081,900

    Feb-01-13.26%0.41%0.89%-9.12%0.38%0.87%-4.24%0.02%0.94%1,1811,0731,1109831,0811,1438611,0011,0482,6962,0133,0234,6551,7632,4905361,3291,8888,8226,1089,68323,0104,1667,5103,3432,4534,1062,6531,9532,9304,5601,7282,4015021,3091,918

    Mar-01-5.62%0.42%0.12%-6.34%0.42%0.50%3.53%0.01%0.45%1,1141,0781,1119211,0861,1498921,0011,0532,5442,0213,0274,3591,7702,5035551,3291,8978,3266,1339,69521,5524,1837,5483,4612,4534,1242,5041,9612,9334,2711,7362,4135201,3091,927

    Apr-014.50%0.42%-0.92%7.77%0.39%-0.42%6.58%0.00%0.10%1,1641,0821,1019921,0901,1449501,0011,0542,6592,0302,9994,6981,7772,4925911,3291,8988,7016,1599,60623,2264,2007,5163,6892,4534,1282,6171,9702,9064,6031,7422,4035541,3091,929

    May-012.83%0.40%0.28%0.67%0.32%0.60%-3.66%0.00%0.70%1,1971,0871,1049991,0941,1519161,0011,0612,7342,0383,0074,7301,7832,5075701,3291,9128,9476,1849,63323,3824,2137,5613,5542,4534,1572,6911,9782,9144,6341,7482,4175341,3091,942

    Jun-01-4.99%0.34%-0.01%-2.43%0.28%0.38%-0.80%0.00%0.26%1,1381,0901,1049741,0971,1559081,0011,0642,5972,0453,0074,6151,7882,5175651,3291,9178,5006,2059,63222,8144,2257,5903,5262,4534,1682,5571,9842,9144,5211,7532,4275291,3091,947

    Jul-01-0.54%0.39%1.85%-0.98%0.30%2.24%-8.27%0.00%-0.46%1,1321,0951,1249651,1001,1818331,0011,0592,5832,0533,0634,5691,7932,5735181,3291,9088,4546,2299,81022,5904,2387,7603,2342,4534,1492,5431,9922,9684,4771,7582,4814861,3091,938

    Aug-01-3.66%0.36%2.12%-6.26%0.31%1.15%-6.94%0.00%0.04%1,0901,0991,1489041,1031,1957751,0011,0592,4892,0603,1284,2831,7992,6034831,3291,9098,1456,25110,01821,1764,2517,8493,0102,4534,1512,4501,9993,0314,1971,7642,5094521,3091,939

    Sep-01-7.38%0.32%0.70%-8.08%0.28%1.17%-7.75%0.00%-0.07%1,0101,1021,1568311,1061,2097151,0011,0592,3052,0673,1493,9371,8042,6334451,3291,9077,5446,27110,08819,4654,2637,9412,7762,4534,1482,2692,0063,0523,8581,7692,5394171,3091,938

    Oct-010.78%0.33%3.37%1.91%0.22%2.09%3.68%0.00%0.34%1,0181,1061,1958471,1091,2347421,0011,0622,3232,0733,2564,0131,8082,6884611,3291,9147,6036,29210,42819,8374,2728,1072,8782,4534,1622,2872,0123,1553,9311,7722,5924321,3091,944

    Nov-017.96%0.21%-1.01%7.67%0.17%-1.38%0.09%0.00%-0.25%1,0991,1081,1839121,1111,2177421,0011,0602,5082,0783,2234,3201,8112,6514621,3291,9098,2086,30510,32321,3584,2797,9952,8812,4534,1512,4692,0163,1234,2331,7752,5564331,3091,939

    Dec-013.76%0.19%-0.26%0.88%0.15%-0.64%-1.30%0.00%0.07%1,1401,1101,1809201,1121,2097331,0011,0602,6022,0823,2144,3581,8142,6344561,3291,9108,5176,31710,29621,5464,2867,9442,8442,4534,1542,5622,0203,1154,2701,7782,5404271,3091,941

    Jan-02-0.44%0.16%0.20%-1.46%0.14%0.81%-5.57%0.00%-0.67%1,1351,1121,1829071,1141,2196921,0011,0532,5912,0853,2214,2951,8162,6554311,3291,8988,4796,32710,31621,2314,2928,0082,6852,4534,1262,5502,0233,1214,2081,7812,5604031,3091,928

    Feb-02-0.04%0.15%0.62%-1.93%0.13%0.97%4.39%0.00%0.12%1,1341,1141,1898891,1151,2317221,0011,0552,5902,0883,2414,2121,8182,6814491,3291,9008,4766,33710,38020,8224,2978,0862,8032,4534,1312,5492,0273,1404,1271,7832,5854211,3091,930

    Mar-023.02%0.15%-1.86%3.76%0.13%-1.66%4.76%0.00%0.76%1,1691,1151,1679231,1171,2107571,0011,0632,6682,0913,1804,3701,8212,6374711,3291,9148,7326,34610,18721,6054,3037,9522,9372,4534,1632,6262,0303,0824,2821,7852,5424411,3091,945

    Apr-02-2.34%0.18%1.53%-6.06%0.15%1.94%2.20%0.00%0.38%1,1411,1171,1858671,1191,2347731,0011,0672,6062,0953,2294,1051,8242,6884811,3291,9228,5276,35810,34320,2954,3098,1063,0012,4534,1792,5652,0333,1294,0221,7882,5924511,3091,952

    May-020.04%0.18%0.95%-0.74%0.14%0.85%3.57%0.00%0.17%1,1421,1191,1968601,1201,2448011,0011,0682,6072,0993,2604,0751,8262,7114981,3291,9258,5316,36910,44120,1454,3158,1753,1082,4534,1862,5662,0373,1593,9931,7902,6144671,3091,955

    Jun-02-6.46%0.19%0.59%-7.12%0.13%0.86%-8.19%0.00%0.53%1,0681,1211,2047991,1221,2557351,0011,0742,4382,1033,2793,7851,8282,7344581,3291,9357,9806,38110,50318,7114,3218,2452,8542,4534,2082,4002,0413,1783,7081,7932,6364291,3091,966

    Jul-02-7.47%0.23%1.49%-7.80%0.15%1.21%-6.16%0.00%0.09%9881,1241,2217371,1231,2706901,0011,0752,2562,1083,3283,4901,8312,7674291,3291,9377,3846,39610,66017,2514,3278,3452,6782,4534,2122,2212,0453,2253,4191,7952,6684021,3091,968

    Aug-020.22%0.20%1.40%0.66%0.14%1.69%-2.24%0.00%0.86%9901,1261,2397421,1251,2926751,0011,0842,2612,1123,3743,5131,8342,8144201,3291,9537,4006,40910,80917,3654,3338,4862,6182,4534,2482,2262,0503,2703,4421,7982,7133931,3091,984

    Sep-02-6.29%0.25%1.28%-10.87%0.14%1.62%-1.81%0.00%-0.04%9281,1291,2546611,1261,3136621,0011,0842,1192,1173,4183,1311,8362,8594121,3291,9536,9346,42510,94715,4784,3398,6232,5712,4534,2462,0862,0553,3123,0671,8002,7573861,3091,984

    Oct-021.21%0.22%-0.23%8.80%0.14%-0.46%-6.10%0.00%0.76%9391,1321,2527191,1281,3066221,0011,0922,1442,1223,4103,4061,8392,8463871,3291,9677,0186,43910,92216,8404,3468,5842,4142,4534,2782,1112,0593,3043,3371,8032,7443621,3091,999

    Nov-025.28%0.21%0.42%5.89%0.12%-0.03%3.34%0.00%0.02%9891,1341,2577621,1291,3066431,0011,0922,2582,1263,4243,6071,8412,8454001,3291,9687,3896,45310,96817,8324,3518,5812,4942,4534,2792,2222,0633,3183,5341,8052,7443751,3091,999

    Dec-020.91%0.24%2.06%-5.87%0.11%2.07%-5.33%0.00%0.31%9981,1371,2837171,1311,3336081,0011,0962,2782,1313,4953,3951,8432,9043791,3291,9747,4566,46811,19416,7854,3568,7592,3612,4534,2932,2432,0683,3873,3271,8072,8003551,3092,005

    Jan-03-0.54%0.21%-0.81%-2.62%0.10%0.09%-2.64%0.00%0.52%9931,1391,2726981,1321,3345921,0011,1012,2662,1363,4663,3061,8452,9073691,3291,9847,4166,48211,10316,3454,3608,7672,2992,4534,3152,2302,0733,3593,2391,8092,8033451,3092,016

    Feb-03-0.02%0.21%0.69%-1.50%0.09%1.38%-0.24%0.00%0.16%9921,1411,2816881,1331,3535911,0011,1032,2662,1403,4903,2571,8472,9473681,3291,9877,4146,49511,18016,1004,3648,8882,2942,4534,3222,2302,0773,3823,1911,8112,8423441,3092,019

    Mar-03-2.97%0.23%-0.54%0.97%0.10%-0.08%-3.36%0.00%0.43%9631,1441,2746941,1341,3525711,0011,1082,1982,1453,4713,2881,8492,9453551,3291,9967,1946,51011,11916,2564,3688,8812,2162,4534,3402,1642,0823,3643,2221,8122,8393331,3092,028

    Apr-033.91%0.24%1.62%8.24%0.10%0.83%0.60%0.00%0.51%1,0001,1471,2957521,1351,3635751,0011,1142,2842,1503,5283,5591,8502,9693571,3292,0067,4756,52611,29917,5964,3738,9542,2302,4534,3622,2482,0873,4193,4871,8142,8633351,3092,038

    May-034.32%0.24%3.09%5.27%0.09%1.86%4.96%0.00%0.35%1,0441,1501,3357911,1361,3886031,0011,1172,3832,1563,6373,7471,8523,0243751,3292,0137,7986,54111,64918,5234,3779,1212,3402,4534,3782,3462,0923,5243,6711,8162,9163511,3092,045

    Jun-032.05%0.27%0.31%1.28%0.10%-0.20%7.93%0.00%-1.24%1,0651,1531,3398011,1371,3856511,0011,1042,4322,1613,6483,7951,8543,0184051,3291,9887,9586,55911,68518,7604,3819,1032,5262,4534,3232,3942,0983,5353,7181,8182,9103791,3092,020

    Jul-034.01%0.27%-1.36%1.76%0.07%-3.36%4.23%0.00%-0.23%1,1081,1561,3218151,1381,3396781,0011,1012,5292,1673,5983,8621,8552,9174221,3291,9848,2776,57711,52619,0904,3848,7972,6332,4534,3142,4902,1033,4873,7831,8192,8123951,3092,015

    Aug-033.63%0.24%0.52%1.95%0.07%0.66%6.64%0.00%-2.12%1,1481,1591,3288311,1391,3487231,0011,0782,6212,1723,6173,9371,8562,9364501,3291,9428,5786,59311,58619,4624,3878,8552,8082,4534,2222,5802,1083,5053,8571,8202,8314221,3091,972

    Sep-03-1.00%0.24%2.18%-1.06%0.08%2.65%1.98%0.00%0.28%1,1371,1611,3578221,1401,3837381,0011,0812,5952,1783,6963,8951,8583,0144591,3291,9478,4926,60811,83819,2564,3919,0892,8632,4534,2342,5542,1133,5823,8161,8222,9064301,3091,978

    Oct-034.84%0.22%-1.07%5.66%0.07%-0.93%2.83%0.00%-0.03%1,1921,1641,3428691,1401,3717591,0011,0802,7202,1823,6564,1161,8592,9864721,3291,9468,9036,62311,71220,3464,3949,0052,9442,4534,2332,6782,1183,5434,0321,8232,8794421,3091,977

    Nov-031.25%0.21%0.41%0.88%0.07%0.24%-3.89%0.00%0.74%1,2061,1661,3488771,1411,3747291,0011,0882,7542,1873,6714,1521,8612,9934541,3291,9619,0146,63711,76020,5254,3979,0262,8302,4534,2642,7112,1223,5584,0681,8242,8864251,3091,992

    Dec-034.83%0.24%1.57%5.24%0.08%1.02%4.35%0.00%-0.05%1,2651,1691,3699231,1421,3887611,0011,0882,8872,1923,7294,3691,8623,0244731,3291,9609,4506,65311,94421,6004,4009,1192,9532,4534,2622,8422,1283,6144,2811,8262,9154431,3091,991

    Jan-043.75%0.23%1.33%1.84%0.07%0.80%0.76%0.00%0.40%1,3121,1721,3879401,1431,3997671,0011,0922,9962,1973,7794,4501,8633,0484771,3291,9689,8046,66812,10321,9984,4039,1912,9752,4534,2792,9492,1323,6624,3601,8272,9394471,3091,999

    Feb-043.24%0.19%1.30%1.39%0.06%1.08%2.94%0.00%0.38%1,3551,1741,4059531,1441,4147891,0011,0963,0932,2013,8284,5121,8643,0814911,3291,97510,1226,68112,26122,3044,4069,2913,0632,4534,2953,0442,1363,7094,4201,8282,9704601,3092,007

    Mar-04-2.11%0.20%0.48%-1.51%0.09%0.75%9.36%0.00%-0.72%1,3261,1761,4129381,1451,4258631,0011,0883,0282,2063,8464,4431,8663,1045371,3291,9619,9086,69412,31921,9674,4109,3603,3492,4534,2642,9802,1413,7274,3541,8302,9935031,3091,992

    Apr-04-3.89%0.17%-1.13%-1.57%0.08%-2.60%0.94%0.00%-0.32%1,2751,1781,3969241,1461,3888711,0011,0852,9102,2103,8034,3741,8683,0235421,3291,9559,5236,70612,18021,6224,4139,1173,3812,4534,2512,8642,1443,6854,2851,8312,9155081,3091,986

    May-042.25%0.16%-0.82%1.37%0.06%-0.40%-3.78%0.00%0.19%1,3031,1801,3849361,1461,3828381,0011,0872,9752,2133,7714,4341,8693,0115221,3291,9589,7376,71612,08021,9184,4169,0813,2532,4534,2592,9292,1483,6554,3441,8322,9034891,3091,989

    Jun-041.73%0.16%-0.09%1.94%0.08%0.57%4.69%0.00%-0.86%1,3261,1821,3839541,1471,3908771,0011,0783,0272,2173,7684,5201,8703,0285461,3291,9429,9066,72712,06922,3434,4209,1323,4062,4534,2222,9792,1513,6514,4281,8342,9205111,3091,972

    Jul-04-0.92%0.16%0.89%-3.31%0.10%0.99%-4.22%0.00%-0.27%1,3141,1841,3959231,1481,4048401,0011,0752,9992,2203,8024,3701,8723,0585231,3291,9369,8146,73812,17721,6044,4249,2233,2622,4534,2112,9522,1553,6844,2821,8362,9494901,3091,967

    Aug-04-0.81%0.18%1.61%0.40%0.11%1.91%-1.17%0.00%1.37%1,3031,1861,4189261,1501,4318311,0011,0892,9752,2243,8634,3871,8743,1175171,3291,9639,7356,75012,37321,6904,4299,3993,2242,4534,2682,9282,1593,7434,2991,8383,0054841,3091,994

    Sep-043.67%0.17%0.30%1.08%0.11%0.27%-2.07%0.00%0.61%1,3511,1881,4229361,1511,4348131,0011,0963,0842,2283,8744,4351,8763,1255061,3291,97510,0926,76112,41021,9254,4349,4243,1572,4534,2943,0352,1623,7554,3451,8403,0134741,3092,006

    Oct-042.44%0.19%1.14%1.53%0.11%0.84%-1.44%0.00%0.00%1,3841,1901,4389511,1521,4468021,0011,0963,1592,2323,9184,5031,8783,1514991,3291,97510,3386,77412,55122,2604,4399,5033,1122,4534,2943,1092,1663,7974,4121,8423,0384671,3092,006

    Nov-041.94%0.22%0.74%4.05%0.15%-0.80%1.45%0.00%0.28%1,4111,1931,4499891,1541,4358131,0011,0993,2202,2373,9474,6851,8813,1265061,3291,98010,5396,78912,64423,1624,4459,4273,1572,4534,3063,1702,1713,8254,5901,8443,0144741,3092,012

    Dec-042.64%0.21%1.20%3.40%0.16%0.92%4.72%0.00%0.24%1,4481,1961,4661,0231,1561,4488521,0011,1023,3052,2423,9954,8441,8843,1555301,3291,98510,8176,80312,79623,9494,4529,5143,3062,4534,3173,2532,1763,8714,7461,8473,0424961,3092,017

    Jan-05-0.40%0.20%0.96%-2.44%0.16%0.63%-0.44%0.00%0.55%1,4421,1981,4809981,1581,4578481,0011,1083,2922,2464,0334,7261,8873,1755281,3291,99610,7746,81712,91923,3654,4609,5743,2912,4534,3403,2402,1803,9094,6311,8503,0614941,3092,028

    Feb-055.17%0.19%-0.06%2.10%0.16%-0.59%2.86%0.00%-0.54%1,5171,2001,4791,0191,1591,4498721,0011,1023,4622,2514,0314,8251,8903,1565431,3291,98511,3316,83012,91123,8554,4679,5183,3852,4534,3173,4082,1843,9064,7281,8533,0435081,3092,017

    Mar-05-0.38%0.20%0.19%-1.77%0.21%-0.51%1.06%0.00%0.82%1,5111,2031,4821,0011,1621,4418811,0011,1113,4492,2554,0384,7401,8943,1405481,3292,00211,2886,84412,93623,4334,4769,4693,4212,4534,3523,3952,1893,9144,6441,8573,0275141,3092,033

    Apr-05-2.38%0.20%1.20%-1.90%0.21%1.35%-4.22%0.00%0.48%1,4751,2051,5009821,1641,4618441,0011,1163,3672,2604,0874,6501,8983,1825251,3292,01111,0196,85713,09122,9884,4859,5973,2772,4534,3733,3142,1933,9614,5561,8613,0684921,3092,043

    May-052.69%0.21%1.76%3.18%0.24%1.08%1.51%0.00%0.03%1,5141,2081,5261,0131,1671,4768571,0011,1173,4582,2644,1594,7981,9033,2175331,3292,01211,3166,87213,32123,7194,4969,7013,3262,4534,3753,4032,1984,0304,7011,8653,1015001,3092,044

    Jun-053.33%0.20%1.45%0.14%0.23%0.55%2.95%0.00%0.51%1,5651,2101,5491,0151,1701,4858821,0011,1223,5732,2694,2194,8051,9073,2345491,3292,02211,6926,88513,51523,7524,5079,7543,4242,4534,3973,5172,2024,0894,7071,8703,1195141,3092,054

    Jul-055.31%0.20%-0.35%3.72%0.24%-0.91%2.24%0.00%-0.62%1,6481,2121,5431,0521,1731,4719021,0011,1153,7622,2734,2044,9831,9123,2055611,3292,00912,3136,89913,46724,6364,5179,6653,5012,4534,3703,7032,2064,0744,8821,8743,0905261,3092,041

    Aug-052.50%0.22%1.28%-0.91%0.30%1.28%5.47%0.00%-0.10%1,6891,2151,5631,0431,1761,4909511,0011,1143,8562,2784,2584,9381,9173,2465921,3292,00712,6216,91413,64024,4114,5319,7893,6932,4534,3653,7962,2114,1274,8381,8803,1305551,3092,039

    Sep-053.41%0.21%-0.81%0.81%0.29%-1.03%11.77%0.00%-0.60%1,7471,2181,5501,0511,1801,4751,0631,0011,1083,9882,2834,2244,9781,9233,2126621,3291,99513,0526,92913,52924,6094,5449,6884,1272,4534,3393,9262,2164,0934,8771,8853,0976201,3092,027

    Oct-05-5.65%0.22%-0.97%-1.67%0.27%-0.79%2.21%0.00%-0.28%1,6481,2201,5351,0341,1831,4631,0871,0011,1043,7632,2884,1834,8951,9283,1876761,3291,99012,3146,94413,39824,1984,5569,6124,2182,4534,3273,7042,2214,0534,7961,8903,0736341,3092,021

    Nov-054.42%0.23%0.92%3.78%0.31%0.44%6.62%0.00%0.60%1,7211,2231,5491,0731,1861,4691,1591,0011,1113,9292,2934,2215,0801,9343,2017211,3292,00212,8586,96013,52125,1134,5709,6544,4982,4534,3533,8672,2264,0914,9771,8963,0866751,3092,034

    Dec-054.41%0.27%0.75%0.03%0.32%0.95%7.58%0.00%-0.10%1,7971,2261,5611,0731,1901,4831,2471,0011,1104,1022,3004,2535,0811,9403,2317761,3292,00013,4256,97913,62325,1204,5859,7464,8392,4534,3494,0382,2324,1214,9791,9023,1167271,3092,031

    Jan-066.06%0.28%-0.63%2.65%0.35%0.01%3.65%0.00%-0.28%1,9061,2301,5511,1011,1941,4831,2921,0011,1074,3512,3064,2265,2161,9473,2328041,3291,99414,2396,99813,53725,7864,6019,7465,0152,4534,3364,2832,2384,0955,1101,9093,1167531,3092,026

    Feb-06-2.02%0.27%0.54%0.27%0.34%0.33%-2.81%0.00%-0.33%1,8671,2331,5601,1041,1981,4881,2561,0011,1034,2632,3124,2495,2301,9543,2427811,3291,98813,9517,01713,61025,8564,6179,7794,8742,4534,3224,1962,2444,1185,1241,9163,1267321,3092,019

    Mar-063.90%0.30%-0.35%1.24%0.37%-0.98%4.73%0.00%-0.72%1,9401,2371,5541,1181,2031,4741,3151,0011,0954,4292,3194,2345,2951,9613,2118181,3291,97314,4967,03813,56226,1764,6349,6835,1052,4534,2914,3602,2514,1035,1881,9233,0967671,3092,005

    Apr-060.89%0.28%-0.94%1.34%0.36%-0.18%-0.79%0.00%-0.56%1,9571,2401,5391,1331,2071,4711,3051,0011,0894,4692,3264,1945,3661,9683,2058121,3291,96214,6257,05813,43526,5274,6519,6655,0652,4534,2674,3992,2574,0655,2571,9303,0907611,3091,993

    May-06-3.56%0.35%0.37%-2.88%0.43%-0.11%-7.97%0.00%0.38%1,8881,2451,5451,1001,2121,4701,2011,0011,0934,3102,3344,2105,2111,9763,2017471,3291,97014,1047,08313,48425,7634,6719,6554,6612,4534,2834,2422,2654,0805,1061,9383,0877001,3092,001

    Jun-06-0.82%0.34%-0.46%0.14%0.40%0.21%0.52%0.00%-0.36%1,8721,2491,5381,1021,2171,4731,2071,0011,0894,2742,3424,1905,2191,9843,2087511,3291,96313,9887,10713,42225,7994,6899,6754,6852,4534,2684,2072,2734,0615,1131,9463,0937041,3091,994

    Jul-062.03%0.36%2.05%0.62%0.40%1.35%-1.13%0.01%0.08%1,9101,2531,5701,1091,2221,4921,1941,0021,0904,3612,3504,2765,2511,9923,2517431,3291,96414,2727,13213,69825,9594,7089,8064,6322,4534,2714,2932,2814,1445,1451,9533,1356961,3091,995

    Aug-062.26%0.34%1.67%2.38%0.42%1.53%4.08%0.02%1.68%1,9531,2581,5961,1351,2271,5151,2421,0021,1094,4602,3584,3485,3762,0013,3017731,3291,99714,5957,15713,92626,5774,7289,9564,8212,4544,3434,3902,2894,2135,2671,9623,1837241,3092,029

    Sep-06-2.32%0.33%1.05%2.58%0.41%0.88%-1.00%0.02%0.02%1,9081,2621,6131,1641,2321,5291,2301,0021,1094,3562,3664,3935,5152,0093,3307651,3291,99814,2567,18014,07327,2634,74710,0434,7732,4544,3444,2882,2964,2585,4031,9703,2117171,3092,029

    Oct-065.09%0.37%0.42%3.26%0.41%0.66%0.53%0.02%-0.12%2,0051,2661,6191,2021,2371,5391,2361,0021,1074,5782,3754,4125,6942,0173,3527691,3301,99514,9827,20714,13228,1514,76710,1104,7982,4554,3394,5062,3054,2755,5791,9783,2327211,3102,027

    Nov-063.52%0.34%1.06%1.90%0.42%1.16%-0.86%0.02%0.33%2,0761,2711,6361,2251,2431,5571,2261,0021,1114,7392,3834,4595,8032,0263,3917631,3302,00215,5097,23114,28128,6864,78710,2274,7572,4554,3534,6652,3134,3215,6851,9863,2707141,3102,034

    Dec-061.50%0.33%-0.77%1.40%0.40%-0.58%4.91%0.02%0.11%2,1071,2751,6241,2421,2471,5481,2861,0031,1124,8102,3914,4245,8842,0343,3718001,3302,00415,7427,25514,17129,0884,80610,1684,9912,4564,3584,7352,3204,2875,7651,9943,2517491,3102,036

    Jan-071.15%0.37%-0.12%1.51%0.44%-0.04%2.40%0.02%0.18%2,1311,2801,6221,2611,2531,5471,3171,0031,1144,8652,4004,4195,9732,0433,3708191,3302,00815,9237,28214,15429,5274,82710,1635,1102,4564,3654,7892,3294,2825,8522,0033,2497671,3102,039

    Feb-070.25%0.32%1.28%-1.96%0.38%1.54%1.74%0.02%0.32%2,1361,2841,6431,2361,2581,5711,3401,0031,1184,8782,4074,4755,8562,0503,4228341,3312,01415,9637,30514,33628,9484,84510,3205,1992,4574,3794,8012,3364,3375,7372,0103,2997811,3112,046

    Mar-071.17%0.35%-0.24%1.12%0.43%0.00%-1.60%0.04%0.11%2,1611,2881,6391,2501,2631,5711,3181,0031,1194,9352,4164,4655,9212,0593,4228201,3312,01616,1497,33114,30129,2734,86610,3205,1162,4584,3844,8572,3444,3275,8012,0193,2997681,3112,048

    Apr-072.07%0.35%0.03%4.43%0.44%0.54%-0.72%0.04%0.16%2,2061,2931,6391,3061,2691,5791,3091,0041,1215,0372,4244,4666,1842,0683,4408141,3322,01916,4847,35714,30630,5694,88710,3765,0792,4594,3914,9582,3534,3286,0582,0283,3177631,3122,051

    May-074.99%0.35%-1.44%3.49%0.41%-0.76%3.12%0.04%-0.51%2,3161,2971,6161,3511,2741,5671,3501,0041,1155,2882,4334,4026,3992,0773,4148401,3322,00917,3067,38214,10031,6364,90810,2975,2382,4604,3695,2052,3614,2666,2702,0363,2927871,3122,041

    Jun-07-0.82%0.34%-0.26%-1.66%0.40%-0.30%1.25%0.04%-0.50%2,2971,3021,6111,3291,2791,5631,3661,0051,1105,2452,4414,3906,2932,0853,4048501,3331,99917,1647,40714,06331,1114,92710,2665,3032,4614,3475,1632,3694,2556,1662,0443,2827961,3132,031

    Jul-07-0.13%0.39%0.11%-3.10%0.40%0.83%-3.84%0.04%0.52%2,2941,3071,6131,2881,2841,5761,3141,0051,1155,2382,4504,3956,0982,0933,4328181,3332,00917,1427,43614,07830,1474,94710,3515,1002,4624,3705,1562,3784,2595,9752,0523,3097661,3132,041

    Aug-07-1.29%0.38%0.86%1.50%0.42%1.23%-5.61%0.04%1.04%2,2651,3121,6271,3071,2891,5951,2401,0051,1275,1702,4604,4336,1902,1023,4757721,3342,03016,9217,46514,19930,5994,96810,4784,8132,4634,4155,0892,3874,2966,0642,0613,3507231,3142,063

    Sep-073.46%0.33%0.73%3.74%0.32%0.76%1.16%0.04%-0.04%2,3431,3161,6391,3561,2941,6071,2551,0061,1265,3492,4684,4656,4212,1093,5017811,3342,03017,5067,48914,30331,7434,98410,5584,8692,4644,4135,2652,3954,3276,2912,0683,3767311,3142,062

    Oct-073.91%0.35%0.63%1.59%0.32%0.90%0.32%0.04%0.53%2,4351,3211,6491,3771,2981,6211,2591,0061,1325,5582,4764,4936,5232,1163,5327831,3352,04018,1917,51514,39332,2484,99910,6534,8852,4654,4375,4712,4034,3556,3912,0743,4067341,3152,073

    Nov-07-6.22%0.32%1.47%-4.18%0.34%1.80%-5.49%0.04%0.63%2,2831,3251,6741,3201,3021,6511,1901,0071,1405,2132,4844,5596,2502,1233,5967401,3362,05317,0597,54014,60530,9005,01610,8454,6172,4664,4655,1312,4114,4196,1242,0813,4676931,3152,086

    Dec-071.34%0.34%0.62%-0.69%0.27%0.28%-3.52%0.04%0.20%2,3141,3291,6841,3111,3061,6551,1481,0071,1425,2822,4934,5886,2072,1293,6067141,3362,05717,2887,56514,69530,6875,03010,8754,4542,4674,4745,2002,4194,4466,0822,0873,4776691,3162,090

    Jan-08-4.72%0.34%0.62%-6.00%0.21%1.68%-9.10%0.04%0.48%2,2051,3341,6941,2321,3081,6831,0431,0071,1475,0332,5014,6165,8352,1333,6676491,3372,06716,4727,59114,78628,8465,04111,0584,0492,4684,4954,9542,4284,4735,7172,0913,5356081,3172,100

    Feb-083.45%0.28%1.34%-3.25%0.13%0.14%-1.45%0.04%0.48%2,2811,3381,7171,1921,3101,6851,0281,0081,1535,2072,5084,6785,6452,1363,6726401,3372,07717,0407,61214,98527,9085,04711,0733,9902,4694,5175,1252,4344,5335,5312,0943,5405991,3172,110

    Mar-08-1.43%0.28%0.96%-0.43%0.17%0.34%-7.51%0.04%0.35%2,2481,3411,7341,1871,3121,6919511,0081,1575,1322,5154,7235,6212,1393,6845921,3382,08416,7977,63315,12827,7885,05611,1113,6902,4704,5325,0522,4414,5775,5072,0983,5525541,3182,117

    Apr-084.60%0.11%-0.52%4.87%0.18%-0.21%11.74%0.04%-1.58%2,3511,3431,7251,2451,3151,6881,0631,0091,1395,3682,5184,6985,8952,1433,6776611,3382,05117,5697,64215,05029,1415,06511,0884,1242,4714,4615,2842,4444,5535,7752,1013,5456191,3182,084

    May-085.79%0.21%-0.15%1.30%0.18%-0.73%3.69%0.04%-0.76%2,4881,3461,7221,2611,3171,6751,1021,0091,1305,6792,5234,6915,9712,1473,6506861,3392,03618,5867,65815,02729,5205,07411,0074,2762,4724,4275,5902,4494,5465,8512,1053,5196421,3192,068

    Jun-08-1.41%0.22%-0.05%-8.43%0.17%-0.08%-6.24%0.04%1.09%1,0001,0001,0001,0001,0001,0001,0001,0001,0002,4521,3491,7211,1551,3191,6741,0331,0091,1425,5992,5294,6895,4682,1513,6476431,3392,05818,3247,67515,02027,0325,08310,9984,0092,4734,4755,5112,4544,5445,3572,1093,5166021,3192,091

    Jul-08-5.86%0.18%0.91%-0.84%0.15%-0.08%-1.41%0.04%0.34%9411,0021,0099921,0029999861,0001,0032,3091,3511,7371,1451,3211,6731,0181,0101,1465,2712,5344,7325,4222,1543,6446341,3402,06517,2517,68915,15626,8055,09010,9893,9532,4744,4905,1882,4594,5855,3122,1123,5135941,3202,098

    Aug-081.54%0.20%0.69%1.45%0.13%0.95%-3.59%0.04%0.91%9561,0041,0161,0061,0031,0099511,0011,0132,3441,3541,7491,1621,3231,6899821,0101,1575,3522,5394,7645,5012,1573,6796111,3402,08417,5167,70415,26127,1935,09711,0943,8112,4754,5315,2682,4644,6175,3892,1153,5475721,3202,117

    Sep-08-14.45%0.18%-1.95%-8.91%0.15%-1.34%-12.92%0.04%-0.35%8181,0069969161,0049958281,0011,0092,0061,3561,7151,0581,3251,6668551,0111,1534,5792,5434,6715,0112,1603,6295321,3412,07614,9857,71814,96324,7705,10410,9453,3182,4764,5154,5072,4684,5274,9092,1183,4994981,3212,109

    Oct-08-16.67%0.23%-0.84%-16.79%0.08%-2.36%-20.16%0.04%0.43%6811,0089887621,0059726611,0021,0131,6711,3591,7008801,3261,6276831,0111,1583,8162,5494,6324,1692,1623,5444251,3412,08512,4877,73614,83820,6115,10910,6872,6492,4774,5353,7562,4744,4894,0852,1203,4173981,3212,119

    Nov-08-4.74%0.12%2.43%-7.18%0.03%3.25%-3.55%0.02%0.30%6491,0091,0127081,0051,0036371,0021,0161,5921,3611,7428171,3261,6796581,0111,1613,6352,5524,7453,8702,1623,6594101,3422,09211,8957,74515,19819,1325,11011,0342,5552,4774,5483,5782,4774,5983,7922,1203,5283841,3222,125

    Dec-08-2.64%0.19%2.88%1.06%0.00%3.73%3.00%0.02%1.72%6321,0111,0417151,0051,0416561,0021,0341,5501,3641,7928261,3261,7426781,0111,1813,5392,5574,8813,9112,1623,7954221,3422,12811,5817,76015,63619,3345,11011,4462,6322,4784,6273,4832,4814,7303,8322,1203,6593951,3222,161

    Jan-09-2.96%0.07%-0.95%-8.43%0.00%-0.88%-7.57%0.01%-0.60%6131,0121,0316551,0051,0326071,0021,0281,5041,3651,7757561,3261,7276271,0111,1743,4342,5594,8353,5812,1623,7623901,3422,11511,2387,76515,48717,7045,11011,3452,4332,4784,5993,3802,4834,6863,5092,1203,6273651,3222,148

    Feb-09-6.31%0.07%0.69%-10.65%0.01%-0.38%-4.67%0.01%0.22%5751,0121,0385851,0061,0285781,0021,0301,4091,3651,7876761,3271,7205981,0121,1763,2172,5604,8683,2002,1633,7483721,3422,12010,5297,77015,59415,8195,11111,3022,3192,4784,6093,1672,4854,7183,1352,1203,6133481,3222,153

    Mar-097.79%0.05%1.80%8.76%0.02%1.39%3.25%0.01%-0.32%6191,0131,0576361,0061,0425971,0021,0271,5191,3661,8197351,3271,7446171,0121,1733,4682,5624,9563,4802,1633,8003841,3422,11311,3497,77415,87517,2055,11211,4592,3942,4784,5943,4142,4864,8033,4102,1213,6643601,3222,146

    Apr-097.26%0.04%0.02%9.57%0.01%0.48%8.19%0.01%-0.13%6641,0131,0576971,0061,0476461,0021,0251,6291,3671,8198051,3271,7526671,0121,1713,7202,5634,9573,8132,1633,8184151,3432,11012,1737,77715,87818,8515,11211,5142,5912,4794,5883,6612,4874,8043,7362,1213,6813891,3222,144

    May-0911.46%0.01%-0.13%5.59%0.00%0.73%7.14%0.01%-0.16%7401,0131,0567361,0061,0556921,0031,0241,8161,3671,8178501,3271,7657151,0121,1694,1462,5634,9514,0262,1633,8464451,3432,10713,5697,77815,85719,9055,11211,5982,7762,4794,5814,0812,4874,7983,9452,1213,7084171,3222,140

    Jun-090.34%0.02%1.36%0.20%0.01%0.57%3.54%0.01%0.94%7431,0141,0707381,0061,0617171,0031,0331,8221,3671,8428521,3271,7757401,0121,1804,1602,5645,0184,0342,1643,8684611,3432,12613,6157,78016,07319,9455,11311,6642,8742,4794,6244,0952,4884,8633,9532,1213,7294321,3232,160

    Jul-094.22%0.02%0.66%7.56%0.01%1.61%2.36%0.01%-0.11%7741,0141,0777941,0061,0787341,0031,0321,8991,3671,8549161,3271,8047581,0121,1794,3362,5645,0514,3392,1643,9304721,3432,12414,1897,78116,17921,4535,11311,8522,9422,4794,6194,2682,4884,8954,2522,1213,7894421,3232,158

    Aug-090.95%0.02%1.13%3.61%0.01%1.04%1.60%0.01%0.66%7821,0141,0898221,0061,0897451,0031,0391,9171,3681,8759491,3271,8237701,0121,1874,3772,5655,1084,4962,1643,9714791,3432,13814,3247,78316,36222,2275,11411,9752,9892,4804,6494,3082,4894,9504,4052,1223,8294491,3232,172

    Sep-095.14%0.01%0.90%3.73%0.01%1.05%-4.74%0.01%0.34%8221,0141,0998531,0061,1007101,0031,0422,0161,3681,8929851,3281,8427341,0121,1914,6022,5655,1544,6642,1644,0124561,3432,14515,0607,78416,50923,0565,11412,1012,8472,4804,6654,5302,4894,9954,5692,1223,8694281,3232,179

    Cumulative returns

    10-year101.56%36.78%89.18%-1.52%32.75%84.18%-26.64%1.23%19.08%

    20-year360.18%156.48%415.41%366.38%116.42%301.25%-54.35%34.32%114.54%

    30-year1406.03%678.36%1550.92%2205.61%411.42%1110.08%184.70%147.98%366.52%

    12-month returns ending Sept. 30, Z

    198034.57%13.58%-1.82%21.20%10.81%-1.80%8.77%10.81%4.95%

    1981-13.37%18.03%-6.65%-2.64%14.80%-2.62%15.25%8.56%9.43%

    1982-10.36%16.88%39.65%9.93%11.92%35.19%-4.99%7.17%9.93%

    198362.19%10.32%22.77%44.34%8.47%15.59%37.45%6.74%11.91%

    1984-0.40%10.56%7.95%4.72%9.64%8.77%16.54%6.32%9.24%

    198513.97%10.46%22.39%14.51%8.21%22.01%21.65%6.37%10.76%

    198616.71%9.41%18.78%31.74%6.76%20.31%53.00%5.73%9.06%

    198734.49%8.13%1.69%43.45%5.47%0.27%34.65%3.73%3.33%

    1988-12.94%8.68%14.93%-12.36%5.86%13.30%3.48%3.60%8.69%

    198924.48%11.82%11.15%32.97%8.19%11.27%26.07%4.42%3.86%

    1990-16.93%13.52%4.00%-9.23%7.98%7.54%-39.60%6.99%-6.23%

    199111.57%10.60%22.76%31.17%6.29%15.99%14.16%8.11%16.10%

    19920.67%6.94%14.60%11.07%3.97%12.56%-28.00%5.38%11.68%

    199324.62%5.83%13.96%13.01%2.94%9.98%23.56%3.44%9.99%

    199411.70%4.72%0.74%3.68%3.40%-3.23%-0.98%2.20%1.61%

    19956.55%6.66%14.42%29.74%5.40%14.07%-8.36%1.62%13.75%

    199619.37%5.27%12.76%20.32%5.29%4.88%14.00%0.37%3.21%

    199735.46%2.94%13.57%40.46%5.25%9.73%-12.81%0.46%6.45%

    1998-18.97%4.16%8.80%9.06%5.15%11.50%-20.53%0.40%6.49%

    199925.91%4.67%1.74%27.80%4.50%-0.38%41.54%0.09%-0.37%

    200050.98%4.96%6.12%13.30%5.48%6.99%0.62%0.03%1.14%

    2001-33.13%5.00%8.93%-26.62%4.90%12.97%-28.90%0.11%4.67%

    2002-8.08%2.45%8.52%-20.48%1.80%8.59%-7.41%0.00%2.38%

    200322.46%2.86%8.14%24.41%1.18%5.40%11.39%0.00%-0.29%

    200418.84%2.31%4.83%13.86%0.98%3.68%10.26%0.00%1.43%

    200529.32%2.48%9.02%12.24%2.49%2.80%30.73%0.00%1.04%

    20069.23%3.63%4.02%10.78%4.47%3.67%15.65%0.05%0.11%

    200722.80%4.30%1.64%16.43%4.98%5.13%2.02%0.38%1.60%

    2008-14.40%3.


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