Spreadsheet: rick_buy__32779__Sovereign Bonds_070901
Sheet: Bond Prices - Developed

 |  | 2001-09-07 00:00:00 | Developed
 |  | 10 year benchmark spreads
 |  |  |  |  |  | LOCAL CURRENCY | SWAPPED INTO US$
 |  | Country | E-rating | Moody's | S&P | Yield | Yield | Sprd v UST (basis points)
 |  | Euro-10
RAGB | 01/10 5.50 | Austria | 1 | Aaa | AAA | 4.97 | 5.34
BGB | 09/10 5.75 | Belgium | 1 | Aa1 | AA+ | 5.11 | 5.44
RFGB | 02/11 5.75 | Finland | 1 | Aaa | AA | 5.07 | 5.39
FRTR | 10/10 5.50 | France | 1 | Aaa | AAA | 4.95 | 5.27
DBR | 01/11 5.25 | Germany | 1 | Aaa | AAA | 4.82 | 5.14
IRISH | 04/10 4.00 | Ireland | 1 | Aaa | AA+ | 4.92 | 5.26
BTPS | 11/10 5.50 | Italy | 2 | Aa3 | AA | 5.16 | 5.41
NETHER | 07/10 5.50 | Netherlands | 1 | Aaa | AAA | 4.93 | 5.26
PGB | 05/10 5.85 | Portugal | 2 | Aaa | AA | 5.1 | 5.44
SPGB | 07/11 5.40 | Spain | 1 | Aa2 | AA+ | 5.13 | 5.34
 |  | Scandinavia
DGB | 11/09 6.00 | Denmark | 1 | Aaa | AAA | 5.02 | 5.26
NGB | 05/09 5.50 | Norway | 1 | Aaa | AAA | 6.42 | 5.18
SGB | 03/11 5.25 | Sweden | 1 | Aa1 | AA+ | 5.18 | 5.06
 |  | Other
JGB | 12/10 1.80 | Japan | 1 | Aa1 | AAA | 1.29 | 5.73
SWISS | 08/10 3.50 | Switzerland | 1 | Aaa | AAA | 3.19 | 3.98
UKT | 12/09 5.75 | United Kingdom | 1 | Aaa | AAA | 5 | 4.69
T | 02/11 5.00 | United States | 1 | Aaa | AAA | 4.9 | 4.9
GGB | 05/10 6.00 | Greece | 3 | A2 | BBB | 5.24 | 5.58
 |  | US Treasury Curve
 |  |  |  |  |  |  | Current Yield
 |  | 6 mo |  |  |  | 3.29 | 3.21
 |  | 1 year
 |  | 2 year |  |  |  | 3.63 | 3.53
 |  | 3 Year
 |  | 4 Year
 |  | 5 year |  |  |  | 4.36 | 4.34
 |  | 6 year
 |  | 7 year
 |  | 8 year
 |  | 9 year
 |  | 10 year |  |  |  | 4.83 | 4.84
 |  | 15 year
 |  | 30 year |  |  |  | 5.37 | 5.43
 |  |  |  | US Libor Curve
 |  |  |  |  | Spread over US-T (Bps) |  | Current Yield
 |  | 1 year |  |  |  | 3.58 | 3.34
 |  | 2 year |  |  |  | 4.13 | 4.03
 |  | 3 Year |  |  |  | 4.6 | 4.51
 |  | 4 Year |  |  |  | 4.91 | 4.84
 |  | 5 year |  |  |  | 5.13 | 5.08
 |  | 6 year |  |  |  | 5.29 | 5.25
 |  | 7 year |  |  |  | 5.41 | 5.38
 |  | 8 year |  |  |  | 5.5 | 5.48
 |  | 9 year |  |  |  | 5.58 | 5.56
 |  | 10 year |  |  |  | 5.65 | 5.64
 |  | 15 year |  |  |  | 5.89 | 5.9
 |  | 30 year |  |  |  | 6.03 | 6.07
 |  | Source: Bloomberg
 |  |  |  | EURO Curves
 |  |  |  |  |  |  | Current Yield
 |  | 1 year |  |  |  | 4.01 | 4.01
 |  | 2 year |  |  |  | 3.93 | 3.96
 |  | 3 Year |  |  |  | 3.99 | 4.04
 |  | 4 Year |  |  |  | 4.15 | 4.23
 |  | 5 year |  |  |  | 4.17 | 4.27
 |  | 10 year |  |  |  | 4.78 | 4.87
 |  | 30 year |  |  |  | 5.42 | 5.49
 |  | Source: Bloomberg
 |  |  |  | UK [NAME]
 |  |  |  |  |  |  | Current Yield
 |  | 1 year |  |  |  | 4.69 | 4.59
 |  | 2 year |  |  |  | 4.83 | 4.81
 |  | 3 Year |  |  |  | 4.86 | 4.84
 |  | 4 Year |  |  |  | 4.97 | 4.97
 |  | 5 year |  |  |  | 4.98 | 5
 |  | 10 year |  |  |  | 4.86 | 4.92
 |  | 30 year |  |  |  | 4.55 | 4.64
 |  | Source: Bloomberg
 |  |  |  | Enrons All in Rate Cost of Funds $
 |  |  |  |  |  |  | Current Yield
 |  | 1 year |  |  |  | 4.326 | 4.326
 |  | 2 Year |  |  |  | 5.368 | 5.368
 |  | 5 year |  |  |  | 6.384 | 6.384
 |  | 10 year |  |  |  | 7.025 | 7.025
 |  | 30 year |  |  |  | 7.753 | 7.753