MIDTERM EXAM: GFGB_6005_003_FALL 2019 INSTRUCTOR: BRUCE TAVEL

MSGF: TUES OCT. 22, 2019; 11AM - 1PM ROOM 323; 140 W.62ND ST.

PART 2: EXCEL : CHOOSE 4 OF THE 6 PROBLEMS: 10 POINTS EACH: TOTAL VALUE = 40 POINTS

Put your name here 

PROBLEM 1: PROJECT PAYBACK TIME

THE PAYBACK TIME FOR A PROJECT IS THE NUMBER OF YEARS NEEDED FOR A PROJECT'S FUTURE PROFITS TO EXCE

A PROJECT REQUIRES AN INITIAL INVESTMENT, TIME=0, OF $300 MILLION.

THE PROJECT GENERATES A POSITIVE CASH FLOW, TIME=1, OF BETWEEN $30 MILLION AND $100 MILLION.

ANNUAL CASH FLOW GROWTH WILL THEN BE FROM 5% TO 25% .

QUESTION: HOW DOES THIS PROJECT PAYBACK TIME,YEARS, DEPEND ON THE YEAR 1 CASH FLOW AND THE ANNU

ANSWER:
'S FUTURE PROFITS TO EXCEED THE INITIAL INVESTMENT.

ND $100 MILLION.

CASH FLOW AND THE ANNUAL CASH FLOW GROWTH RATE ?

PROBLEM 2: YOU ARE PLANNING YOUR RETIREMENT.

BEGINNING THIS YEAR AND FOR THE NEXT 39 YEARS ( I.E., YEARS 1 - 40 ) YOU WILL CONTRIBUTE AN AMOUNT OF

EACH YEAR , BEGINNING NEXT YEAR, YOU INCREASE THAT CONTRIBUTION BY $500

FOR THE FIRST 20 YEARS THE RETURN ON YOUR INVESTMENT WILL BE 10% PER YEAR, AFTER THAT IT WILL BE 5

BEGINNING YEAR 41, RETIREMENT BEGINS, NO MORE CONTRIBUTIONS AND YOU WITHDRAW EACH YEAR $100,000

ASSUME ALL CONTRIBUTIONS AND WITHDRAWALS OCCUR AT THE BEGINNING OF THE YEAR.

QUESTION: WHAT IS THE LEAST AMOUNT OF MONEY YOU CAN CONTRIBUTE THIS YEAR AND STILL HAV

ANSWER:
WILL CONTRIBUTE AN AMOUNT OF MONEY EACH YEAR.

ER YEAR, AFTER THAT IT WILL BE 5% PER YEAR

OU WITHDRAW EACH YEAR $100,000

OF THE YEAR.

BUTE THIS YEAR AND STILL HAVE $100,000 LEFT AT THE END OF YEAR 60
PROBLEM 3: EMERGING MARKETS INFANT MORTALITY
The dataset below contains the following data for several underdeveloped / emerging market countries:
Infant mortality rate, Adult literacy rate, Percentage of students finishing primary school , Per capita GNP.
QUESTION: Use this data to (a) develop an equation that can be used to predict infant mortality.
(b) Interpret the coefficients in your equation. (c) Are there any outliers in this set of data?
(d) For ,say, China, what values should the 25th and 75th percentile of your predictions be for infan

%age
finishing
Infant Mortality(deaths %age adult primary
Country per thousand births) literacy school GNP per capita
Cuba 18 98 98 2,000
Sri Lanka 20 85 92 3,300
Costa Rica 19 94 84 5,800
Vietnam 44 85 58 600
China 54 80 86 2,400
South Africa 56 76 68 4,000
Saudi Arabia 38 59 68 11,000
Brazil 60 78 56 5,600
Zimbawe 68 82 76 1,800
Morocco 68 42 76 3,400
Pakistan 98 36 38 2,100
Nigeria 86 44 56 1,600

ANSWER:
emerging market countries:
mary school , Per capita GNP.
to predict infant mortality.
s in this set of data?
your predictions be for infant mortality ?
PROBLEM 4: THE IMPACT OF RISK ON DECISION MAKING:
Monte Carlo Simulation: Using the Excel Normal Distribution and the Excel RAND function
An auto dealer believes that demand for his Lexus 2018 model cars
will follow a normal distribution with a mean of 200 and a standard deviation of 3
His cost of receiving a Lexus is $ 25,000, and he sells a Lexus for $ 40,000.
Half of all the Lexus not sold at full price can be sold for $ 30,000.
He is considering ordering 200, 220, 240, 260, 280, or 300 Lexus.
QUESTION: How many should he order? To Maximize PROFIT
Objectives / Hints:
1) Develop a formula box , as per above discussion, which shows profit as a functio
2) Execute 500 simulations using Excel DataTable, incorporate the 6 levels of produ
3) Evaluate the DataTable distribution per production level, using the mean and sta
4) What is your recommendation for this Lexus auto dealer ?

ANSWER:
cel RAND function

dard deviation of 30.

$ 40,000.

s profit as a function of production level, demand, price, cost, disposal revenue

he 6 levels of production
ng the mean and standard deviation of profit
PROBLEM 5: SUPPLY DEMAND SHIPMENT
THE FOLLOWING TABLE GIVES THE DISTANCES BETWEEN: BOSTON, CHICAGO, DALLAS, LOS ANGEL
EACH CITY REQUIRES 40,000 KILOWATT HOURS (KWH) OF POWER.
CHICAGO, DALLAS, AND MIAMI ARE EACH CAPABLE OF PRODUCING 70,000 KWH
ASSUME THAT SHIPPING 1,000 KWH OVER 100 MILES COST $4
QUESTION: FROM WHERE SHOULD POWER BE SENT TO MINIMIZE THE COST OF MEETING EACH C

DISTANCE TABLE (IN MILES)

BOSTON CHICAGO DALLAS
CHICAGO 983 0 1,205
SUPPLIERS: DALLAS 1,815 1,205 0
MIAMI 1,539 1,390 1,332

A) EACH CITY NEEDS 40,000 KWH

B) COST/1,000 KWH = $4 / 100 MILES
C)MINIMIZE TOTAL COST

ANSWER:
DALLAS, LOS ANGELES, MIAMI

F MEETING EACH CITY'S DEMAND ?

LA MIAMI
2,112 1,390
801 1,332
2,757 0

100 MILES
PROBLEM 6: COST OF DEBT FOR MERCK: AS OF AUGUST 17, 2012
THE FOLLOWING TABLE GIVES THE TIME TO MATURITY AND YIELD TO MATURITY FOR 1,005 A-RAT
QUESTION:
A) GRAPH THIS DATA, Y- AXIS = YIELD TO MATURITY X-AXIS = TIME TO MATURITY
B) FIND A POLYNOMIAL REGRESSION EQUATION OF YIELD TO MATURITY AS A FUNCTION OF TIME
HINT: USE A CUBIC EQUATION: YLD_TO_MAT = F'N( TIME, TIME^2, TIME^3)
C) GIVEN THAT MERCK'S DEBT HAS AN AVERAGE MATURITY OF 7 YEARS, WHAT IS ITS COST OF BORRO

Time to
maturity Yield to
Price Coupon Maturity (YRS) maturity

CITIGROUP INC 103.88 5.63% 27/Aug/12 0.0274 0.36%

LINCOLN NATL CORP IND 105.42 5.65% 27/Aug/12 0.0274 -1.62%

GOLDMAN SACHS GROUP INC 104.68 5.70% 1/Sep/12 0.0411 -0.52%

WELLS FARGO & CO NEW 104.85 5.13% 1/Sep/12 0.0411 -1.28%

BANK OF AMERICA CORPORATION 102.91 5.38% 11/Sep/12 0.0685 1.60%

BANK OF AMERICA CORPORATION 102.81 4.88% 15/Sep/12 0.0795 1.29%

CARGILL INC 105.81 5.60% 15/Sep/12 0.0795 -1.68%

HSBC FIN CORP HSBC FIN 105.00 5.40% 15/Sep/12 0.0795 -0.90%

HSBC FIN CORP HSBC FIN 103.12 3.85% 15/Sep/12 0.0795 -0.11%

PRUDENTIAL FINL INC MTNS BOOK 103.97 3.63% 17/Sep/12 0.0849 -1.33%

CONOCOPHILLIPS 105.70 4.75% 15/Oct/12 0.1616 -1.71%

COVIDIEN INTL FIN S A 106.07 5.45% 15/Oct/12 0.1616 -1.44%

HSBC FIN CORP HSBC FIN 102.81 3.60% 15/Oct/12 0.1616 0.37%

NSTAR ELEC CO 105.36 4.88% 15/Oct/12 0.1616 -1.22%

CITIGROUP INC 104.23 5.30% 17/Oct/12 0.1671 0.47%

CATERPILLAR FINL CORP PWRNTSBE 107.18 6.50% 15/Nov/12 0.2466 -0.96%

DU PONT E I DE NEMOURS & CO 105.69 4.75% 15/Nov/12 0.2466 -1.16%

GEORGIA PWR CO 106.16 5.13% 15/Nov/12 0.2466 -1.26%

UNITEDHEALTH GROUP INC 106.50 5.50% 15/Nov/12 0.2466 -1.24%

DUKE POWER CO LLC 106.56 5.63% 30/Nov/12 0.2877 -0.91%

BHP FIN USA LTD 109.70 8.50% 1/Dec/12 0.2904 -1.12%

TD AMERITRADE HLDG CORP 103.78 2.95% 1/Dec/12 0.2904 -0.81%

KELLOGG CO 107.01 5.13% 3/Dec/12 0.2959 -1.76%

PACCAR FINL CORP SR MTNS BK EN 102.84 1.95% 17/Dec/12 0.3342 -0.76%

JPMORGAN CHASE & CO 106.54 5.75% 2/Jan/13 0.3781 -0.26%

PRUDENTIAL FINL INC MTNS BOOK 103.19 2.75% 14/Jan/13 0.4110 -0.09%

AT&T INC 106.74 4.95% 15/Jan/13 0.4137 -1.00%

ANHEUSER BUSCH COS INC 105.74 4.38% 15/Jan/13 0.4137 -0.71%

BANK OF AMERICA CORPORATION 102.67 4.88% 15/Jan/13 0.4137 2.45%

BRANCH BKG & TR CO NC MTN BE 105.50 4.88% 15/Jan/13 0.4137 -0.03%

DEERE JOHN CAPITAL CORP 107.07 5.10% 15/Jan/13 0.4137 -1.14%

HSBC FIN CORP HSBC FIN 104.85 5.05% 15/Jan/13 0.4137 0.71%

PRUDENTIAL FINL INC MTNS BOOK 105.75 5.15% 15/Jan/13 0.4137 0.03%

BANK ONE CORP 105.93 5.25% 30/Jan/13 0.4548 0.15%

CONSOLIDATED EDISON CO N Y INC 106.46 4.88% 1/Feb/13 0.4603 -0.64%

MERRILL LYNCH CO INC MTN BE 102.55 5.45% 5/Feb/13 0.4712 3.23%

CATERPILLAR FINL SVCS MTNS BE 105.86 4.25% 8/Feb/13 0.4795 -0.66%

SYSCO CORP 106.39 4.20% 12/Feb/13 0.4904 -1.09%

CATERPILLAR FINL CORP PWRNTSBE 106.85 5.00% 15/Feb/13 0.4986 -0.65%

COMPUTER SCIENCES CORP 105.50 5.00% 15/Feb/13 0.4986 0.42%

HSBC FIN CORP HSBC FIN 104.38 5.00% 15/Feb/13 0.4986 1.33%

HSBC FIN CORP HSBC FIN 105.11 5.50% 15/Feb/13 0.4986 1.23%

PARKER HANNIFIN CORP 106.88 4.88% 15/Feb/13 0.4986 -0.79%

UNITEDHEALTH GROUP INC 106.58 4.88% 15/Feb/13 0.4986 -0.56%

VERIZON COMMUNICATIONS INC 106.21 4.35% 15/Feb/13 0.4986 -0.77%

ARCHER DANIELS MIDLAND CO 109.25 7.13% 1/Mar/13 0.5370 -0.26%

FLORIDA POWER CORP 106.94 4.80% 1/Mar/13 0.5370 -0.72%

HEWLETT PACKARD CO 106.62 4.50% 1/Mar/13 0.5370 -0.76%

MORGAN STANLEY 102.55 5.30% 1/Mar/13 0.5370 3.20%

PUBLIC SERVICE CO COLO 106.91 4.88% 1/Mar/13 0.5370 -0.62%

KELLOGG CO 106.18 4.25% 6/Mar/13 0.5507 -0.61%

KONINKLIJKE PHILIPS ELECTRS NV 106.68 4.63% 11/Mar/13 0.5644 -0.58%

AT&T CORP 108.94 6.50% 15/Mar/13 0.5753 -0.41%

CANADIAN NATL RY CO 106.76 4.40% 15/Mar/13 0.5753 -0.80%

COMPUTER SCIENCES CORP 105.83 5.50% 15/Mar/13 0.5753 0.94%

HSBC FIN CORP HSBC FIN 105.48 5.65% 15/Mar/13 0.5753 1.35%

SIMON PPTY GROUP LP 107.46 5.45% 15/Mar/13 0.5753 -0.32%

SOVEREIGN BK FSB WYOMISSING PA 102.43 5.13% 15/Mar/13 0.5753 3.18%

ANHEUSER BUSCH INBEV WORLDWIDE 104.09 2.50% 26/Mar/13 0.6055 -0.59%

DIAGEO FIN BV 108.14 5.50% 1/Apr/13 0.6219 -0.57%

GOLDMAN SACHS GROUP INC 105.13 5.25% 1/Apr/13 0.6219 1.35%

DEERE JOHN CAP CORP MTNS BE 107.10 4.50% 3/Apr/13 0.6274 -0.77%

CATERPILLAR FINL SVCS MTNS BE 104.06 2.00% 5/Apr/13 0.6329 -0.99%

CITIGROUP INC 105.21 5.50% 11/Apr/13 0.6493 1.61%

CATERPILLAR FINL CORP PWRNTSBE 108.26 5.60% 15/Apr/13 0.6603 -0.40%

JOHN DEERE CAP CORP CORENOTE P 107.33 5.00% 15/Apr/13 0.6603 -0.32%

DELL INC 107.33 4.70% 15/Apr/13 0.6603 -0.61%

HSBC FIN CORP HSBC FIN 106.13 6.00% 15/Apr/13 0.6603 1.47%

MERCANTILE BANKSHARES CORP 106.03 4.63% 15/Apr/13 0.6603 0.22%

NATIONAL RURAL UTILS COOP FIN 107.46 4.65% 15/Apr/13 0.6603 -0.75%

VERIZON COMMUNICATIONS INC 108.01 5.25% 15/Apr/13 0.6603 -0.56%

MERRILL LYNCH CO INC MTN BE 103.16 6.15% 25/Apr/13 0.6877 3.81%

ALLSTATE LIFE GLOBAL FDG SECD 107.67 5.38% 30/Apr/13 0.7014 -0.04%

BANK AMER CORP 102.89 4.90% 1/May/13 0.7041 2.80%

EMERSON ELEC CO 107.25 4.50% 1/May/13 0.7041 -0.59%

AMERICAN EXPRESS CR CORP MTNBE 107.57 5.88% 2/May/13 0.7068 0.51%

ALCAN INC 106.65 4.50% 15/May/13 0.7425 -0.06%

AMERICAN INTL GROUP INC 102.50 4.25% 15/May/13 0.7425 2.49%

CATERPILLAR FINL CORP PWRNTSBE 107.14 4.55% 15/May/13 0.7425 -0.34%

CATERPILLAR FINL CORP PWRNTSBE 107.64 4.75% 15/May/13 0.7425 -0.47%

CATERPILLAR FINL CORP PWRNTSBE 106.91 4.40% 15/May/13 0.7425 -0.33%

GENERAL DYNAMICS CORP 108.02 4.25% 15/May/13 0.7425 -1.20%

GLAXOSMITHKLINE CAP INC 108.28 4.85% 15/May/13 0.7425 -0.79%

PRUDENTIAL FINL INC INTERNOTE 107.42 5.38% 15/May/13 0.7425 0.26%

WMC FIN USA LTD 108.15 5.13% 15/May/13 0.7425 0.00%

PHILIP MORRIS INTL INC 108.08 4.88% 16/May/13 0.7452 -0.63%

SIMON PPTY GROUP LP 109.50 5.30% 30/May/13 0.7836 -0.98%

PRAXAIR INC 106.97 3.95% 1/Jun/13 0.7890 -0.66%

VERIZON GLOBAL FDG CORP 107.14 4.38% 1/Jun/13 0.7890 -0.37%

DUKE ENERGY OHIO 104.19 2.10% 15/Jun/13 0.8274 -0.61%

GENWORTH GLOBAL FDG TR 106.50 5.50% 15/Jun/13 0.8274 1.22%

NYSE EURONEXT 107.26 4.80% 28/Jun/13 0.8630 0.18%

AMERICAN EXPRESS CO 107.40 4.88% 15/Jul/13 0.9096 0.30%

DU PONT E I DE NEMOURS & CO 109.67 5.00% 15/Jul/13 0.9096 -0.90%

GOLDMAN SACHS GROUP INC 104.60 4.75% 15/Jul/13 0.9096 1.86%

HOUSEHOLD FIN CORP 105.20 4.75% 15/Jul/13 0.9096 1.49%

THOMSON REUTERS CORP 109.17 5.95% 15/Jul/13 0.9096 0.28%

ATLANTIC CITY ELEC CO 109.00 6.63% 1/Aug/13 0.9562 1.16%

ENTERGY ARK INC 109.50 5.40% 1/Aug/13 0.9562 -0.28%

WALGREEN CO 109.22 4.88% 1/Aug/13 0.9562 -0.62%

BRISTOL MYERS SQUIBB CO 109.99 5.25% 15/Aug/13 0.9945 -0.57%

CATERPILLAR FINL CORP PWRNTSBE 106.72 4.25% 15/Aug/13 0.9945 0.30%

CATERPILLAR FINL SVCS MTNS BE 109.27 4.90% 15/Aug/13 0.9945 -0.51%

COCA COLA ENTERPRISES INC 108.62 5.00% 15/Aug/13 0.9945 -0.05%

KIMBERLY CLARK CORP 109.43 5.00% 15/Aug/13 0.9945 -0.50%

THOMSON REUTERS CORP 108.50 5.25% 15/Aug/13 0.9945 0.25%

CITIGROUP INC 107.00 6.50% 19/Aug/13 1.0055 2.31%

AMERICAN EXPRESS CR CORP MTNBE 110.92 7.30% 20/Aug/13 1.0082 0.88%

ROYAL BK SCOTLAND PLC 100.83 3.40% 23/Aug/13 1.0164 2.91%

MERRILL LYNCH CO INC MTN BE 398.50 0.00% 30/Aug/13 1.0356 0.00%

DEERE JOHN CAP CORP MTNS BE 109.22 4.90% 9/Sep/13 1.0630 -0.29%

DELL INC 102.76 1.40% 10/Sep/13 1.0658 -0.15%

HEWLETT PACKARD CO 102.29 1.25% 13/Sep/13 1.0740 -0.04%

AMERICAN EXPRESS CR CORP INTER 109.38 6.25% 15/Sep/13 1.0795 0.95%

CAROLINA PWR & LT CO 109.81 5.13% 15/Sep/13 1.0795 -0.34%

CATERPILLAR FINL SVCS MTNS BE 112.15 6.20% 30/Sep/13 1.1205 -0.41%

EOG RES INC 111.19 6.13% 1/Oct/13 1.1233 0.02%

NIKE INC MTN BE 109.26 4.70% 1/Oct/13 1.1233 -0.33%

DEAN WITTER DISCOVER & CO 108.20 6.75% 15/Oct/13 1.1616 2.25%

EBAY INC 102.46 0.88% 15/Oct/13 1.1616 -0.43%

GOLDMAN SACHS GROUP INC 105.05 5.25% 15/Oct/13 1.1616 2.47%

PECO ENERGY CO 110.78 5.60% 15/Oct/13 1.1616 -0.15%

WELLS FARGO & CO NEW 106.86 4.95% 16/Oct/13 1.1644 1.24%

BHP FIN USA LTD 112.75 6.75% 1/Nov/13 1.2082 0.09%

NATIONAL RURAL UTILS COOP FIN 102.38 1.13% 1/Nov/13 1.2082 -0.12%

BP CAP MKTS P L C 109.69 5.25% 7/Nov/13 1.2247 0.22%

AT&T INC 113.09 6.70% 15/Nov/13 1.2466 0.01%

DAIMLER CHRYSLER NORTH AMER HL 110.95 6.50% 15/Nov/13 1.2466 0.84%

VERIZON WIRELESS CAP LLC 114.36 7.38% 15/Nov/13 1.2466 0.03%

PACIFIC GAS & ELEC CO 111.82 6.25% 1/Dec/13 1.2904 0.32%

CITIGROUP INC 106.56 6.00% 13/Dec/13 1.3233 2.66%

OCCIDENTAL PETE CORP DEL 103.68 1.45% 13/Dec/13 1.3233 -0.35%

DISNEY WALT CO 110.06 4.50% 15/Dec/13 1.3288 -0.41%

UNION BK CALIF N A MEDIUM TERM 103.32 2.13% 16/Dec/13 1.3315 0.49%

VODAFONE GROUP PLC NEW 109.92 5.00% 16/Dec/13 1.3315 0.13%

ROYAL BK SCOTLAND PLC 99.25 3.25% 11/Jan/14 1.4027 3.62%

AMERICAN INTL GROUP INC 99.78 3.65% 15/Jan/14 1.4137 3.76%

ANHEUSER BUSCH COS INC 109.31 4.95% 15/Jan/14 1.4137 0.53%

CATERPILLAR FINL SVCS MTNS BE 109.64 4.60% 15/Jan/14 1.4137 0.05%

DIAGEO CAP PLC 115.45 7.38% 15/Jan/14 1.4137 0.09%

GOLDMAN SACHS GROUP INC 104.76 5.15% 15/Jan/14 1.4137 2.82%

POLAND REP 107.92 5.25% 15/Jan/14 1.4137 1.45%

EXPORT IMPORT BK KOREA 113.71 8.13% 21/Jan/14 1.4301 1.58%

BURLINGTON NORTHN SANTA FE CP 115.03 7.00% 1/Feb/14 1.4603 0.06%

CONOCOPHILLIPS 110.55 4.75% 1/Feb/14 1.4603 -0.11%

MERRILL LYNCH CO INC MTN BE 103.46 5.00% 3/Feb/14 1.4658 3.33%

AT&T INC 110.03 4.85% 15/Feb/14 1.4986 0.29%

HONEYWELL INTL INC 108.99 3.88% 15/Feb/14 1.4986 -0.19%

LINCOLN NATL CORP IND 106.46 4.75% 15/Feb/14 1.4986 1.75%

WACHOVIA CORP NEW 107.21 4.88% 15/Feb/14 1.4986 1.54%

WELLPOINT INC 111.66 6.00% 15/Feb/14 1.4986 0.67%

CATERPILLAR FINL SVCS MTNS BE 113.09 6.13% 17/Feb/14 1.5041 0.19%

WESTERN UN CO 111.28 6.50% 26/Feb/14 1.5288 1.36%

AMERICA MOVIL SAB DE CV 111.00 5.50% 1/Mar/14 1.5370 0.57%

HEWLETT PACKARD CO 112.44 6.13% 1/Mar/14 1.5370 0.55%

SNAP ON INC 111.58 5.85% 1/Mar/14 1.5370 0.66%

COCA COLA ENTERPRISES INC 116.00 7.38% 3/Mar/14 1.5425 0.26%

BOEING CO 111.64 5.00% 15/Mar/14 1.5753 -0.08%

CORNING INC 111.83 5.90% 15/Mar/14 1.5753 0.68%

PHILIP MORRIS INTL INC 115.12 6.88% 17/Mar/14 1.5808 0.26%

TEVA PHARMACEUTICAL FIN III BV 102.21 1.70% 21/Mar/14 1.5918 0.73%

VERIZON COMMUNICATIONS INC 104.89 1.95% 28/Mar/14 1.6110 -0.15%

BHP BILLITON FIN USA LTD 112.15 5.50% 1/Apr/14 1.6219 0.27%

MORGAN STANLEY 97.82 4.75% 1/Apr/14 1.6219 5.76%

DELL INC 112.73 5.63% 15/Apr/14 1.6603 0.24%

GLAXOSMITHKLINE CAP INC 110.33 4.38% 15/Apr/14 1.6603 0.02%

NSTAR ELEC CO 111.00 4.88% 15/Apr/14 1.6603 0.22%

WELLS FARGO & CO NEW 107.67 4.63% 15/Apr/14 1.6603 1.33%

DEERE & CO 116.52 6.95% 25/Apr/14 1.6877 0.06%

BB&T CORPORATION 111.90 5.70% 30/Apr/14 1.7014 0.72%

DU PONT E I DE NEMOURS & CO 113.16 4.88% 30/Apr/14 1.7014 -0.54%

GOLDMAN SACHS GRP INC MTN BE 105.73 6.00% 1/May/14 1.7041 3.51%

RIO TINTO FIN USA LTD 119.39 8.95% 1/May/14 1.7041 0.83%

CITIGROUP INC 106.25 5.13% 5/May/14 1.7151 2.46%

BP CAP MKTS P L C 107.53 3.63% 8/May/14 1.7233 0.51%

MORGAN STANLEY 101.98 6.00% 13/May/14 1.7370 5.13%

BANK AMER CORP 103.22 7.38% 15/May/14 1.7425 5.95%

TEXAS INSTRS INC 103.50 1.38% 15/May/14 1.7425 -0.05%

ALLSTATE CORP 114.03 6.20% 16/May/14 1.7452 0.45%

PNC FUNDING CORP 105.93 3.00% 19/May/14 1.7534 0.58%

AMERICAN EXPRESS CO 113.99 7.25% 20/May/14 1.7562 1.46%

CATERPILLAR FINL SVCS MTNS BE 103.88 1.38% 20/May/14 1.7562 -0.19%

BARRICK GOLD CORP 103.36 1.75% 30/May/14 1.7836 0.40%

NORDSTROM INC 114.72 6.75% 1/Jun/14 1.7890 0.79%

SCHWAB CHARLES CORP NEW 111.37 4.95% 1/Jun/14 1.7890 0.38%

HEWLETT PACKARD CO 110.45 4.75% 2/Jun/14 1.7918 0.54%

VODAFONE GROUP PLC NEW 108.66 4.15% 10/Jun/14 1.8137 0.69%

BANK OF AMERICA CORPORATION 101.69 5.38% 15/Jun/14 1.8274 4.66%

HSBC FIN CORP HSBC FIN 101.00 1.95% 15/Jun/14 1.8274 1.55%

METLIFE INC 110.61 5.50% 15/Jun/14 1.8274 1.24%

DISNEY WALT CO MTNS BE 115.51 6.20% 20/Jun/14 1.8411 0.11%

ANALOG DEVICES INC 112.03 5.00% 1/Jul/14 1.8712 0.32%

ORACLE CORP 109.98 3.75% 8/Jul/14 1.8904 -0.08%

ANHEUSER BUSCH INBEV WORLDWIDE 102.91 1.50% 14/Jul/14 1.9068 0.38%

GOLDMAN SACHS GRP INC MTN BE 105.25 4.20% 15/Jul/14 1.9096 2.13%

MERRILL LYNCH CO INC MTN BE 101.86 5.45% 15/Jul/14 1.9096 4.69%

MORGAN STANLEY 95.44 2.88% 28/Jul/14 1.9452 4.72%

WACHOVIA CORP NEW 107.75 5.25% 1/Aug/14 1.9562 2.24%

CITIGROUP INC 108.02 6.38% 12/Aug/14 1.9863 3.24%

ALLSTATE CORP 111.46 5.00% 15/Aug/14 1.9945 0.72%

HSBC FIN CORP HSBC FIN 107.65 6.00% 15/Aug/14 1.9945 3.05%

HSBC FIN CORP HSBC FIN 107.00 4.80% 15/Aug/14 1.9945 2.14%

HSBC FIN CORP HSBC FIN 103.69 4.50% 15/Aug/14 1.9945 3.08%

AMERICAN EXPRESS CR CORP MTNBE 109.70 5.13% 25/Aug/14 2.0219 1.49%

DIAMOND OFFSHORE DRILLING INC 111.42 5.15% 1/Sep/14 2.0411 0.94%

AMERICAN INTL GROUP INC 98.96 4.25% 15/Sep/14 2.0795 4.65%

BELLSOUTH CORP 112.67 5.20% 15/Sep/14 2.0795 0.61%

CITIGROUP INC 102.25 5.00% 15/Sep/14 2.0795 4.14%

HSBC FIN CORP HSBC FIN 108.53 5.80% 15/Sep/14 2.0795 2.62%

HSBC FIN CORP HSBC FIN 107.36 5.65% 15/Sep/14 2.0795 2.88%

HSBC FIN CORP HSBC FIN 107.88 5.85% 15/Sep/14 2.0795 2.89%

HSBC FIN CORP HSBC FIN 108.94 5.75% 15/Sep/14 2.0795 2.43%

HSBC FIN CORP HSBC FIN 104.47 4.60% 15/Sep/14 2.0795 2.92%

JPMORGAN CHASE & CO 107.08 5.13% 15/Sep/14 2.0795 2.48%

SBC COMMUNICATIONS INC 112.69 5.10% 15/Sep/14 2.0795 0.51%

SOUTHERN CALIF EDISON CO 110.23 4.15% 15/Sep/14 2.0795 0.46%

PRUDENTIAL FINL INC MTNS BOOK 109.52 5.10% 20/Sep/14 2.0932 1.61%

KOREA REP 110.18 4.88% 22/Sep/14 2.0986 1.18%

PACCAR FINL CORP SR MTNS BK EN 103.12 1.55% 29/Sep/14 2.1178 0.44%

GOLDMAN SACHS GROUP INC 105.22 5.00% 1/Oct/14 2.1233 3.06%

CITIGROUP INC 107.14 5.50% 15/Oct/14 2.1616 2.89%

HSBC FIN CORP HSBC FIN 107.13 5.65% 15/Oct/14 2.1616 3.04%

HSBC FIN CORP HSBC FIN 104.32 4.15% 15/Oct/14 2.1616 2.58%

PRUDENTIAL FINL INC INTERNOTE 108.06 4.75% 15/Oct/14 2.1616 1.86%

BOEING CAP CORP 109.29 3.25% 27/Oct/14 2.1945 0.05%

BLACK & DECKER CORP 111.41 4.75% 1/Nov/14 2.2082 0.78%

TEVA PHARMACEUTICAL FINANCE IV 102.24 1.70% 10/Nov/14 2.2329 0.93%

AMGEN INC 102.34 1.88% 15/Nov/14 2.2466 1.07%

BANK OF AMERICA CORPORATION 99.74 5.13% 15/Nov/14 2.2466 5.22%

GOLDMAN SACHS GROUP INC 106.31 5.50% 15/Nov/14 2.2466 3.24%

PRAXAIR INC 114.18 5.25% 15/Nov/14 2.2466 0.42%

WELLS FARGO & CO NEW 108.18 5.00% 15/Nov/14 2.2466 2.13%

CISCO SYS INC 107.81 2.90% 17/Nov/14 2.2521 0.25%

AMGEN INC 110.24 4.85% 18/Nov/14 2.2548 1.32%

MORGAN STANLEY 97.67 4.20% 20/Nov/14 2.2603 5.06%

AXIS CAP HLDGS LTD 106.00 5.75% 1/Dec/14 2.2904 3.62%

BLACKROCK INC 108.90 3.50% 10/Dec/14 2.3151 0.53%

WELLPOINT INC 112.03 5.00% 15/Dec/14 2.3288 0.97%

PRUDENTIAL FINL INC MTNS BOOK 105.87 3.88% 14/Jan/15 2.4110 1.93%

ANHEUSER BUSCH COS INC 112.46 5.00% 15/Jan/15 2.4137 0.94%

CITIGROUP INC 107.38 6.01% 15/Jan/15 2.4137 3.50%

CONOCOPHILLIPS 113.84 4.60% 15/Jan/15 2.4137 0.15%

DIAGEO FIN BV 108.02 3.25% 15/Jan/15 2.4137 0.65%

DU PONT E I DE NEMOURS & CO 109.65 3.25% 15/Jan/15 2.4137 0.15%

GENERAL DYNAMICS CORP 103.33 1.38% 15/Jan/15 2.4137 0.30%

GOLDMAN SACHS GROUP INC 104.20 5.13% 15/Jan/15 2.4137 3.69%

MERRILL LYNCH CO INC MTN BE 98.67 5.00% 15/Jan/15 2.4137 5.47%

NATIONAL CITY CORP 111.11 4.90% 15/Jan/15 2.4137 1.26%

PRUDENTIAL FINL INC MTNS BOOK 111.17 6.20% 15/Jan/15 2.4137 2.46%

MORGAN STANLEY 94.62 4.10% 26/Jan/15 2.4438 6.00%

VODAFONE GROUP PLC NEW 113.91 5.38% 30/Jan/15 2.4548 0.90%

ANHEUSER BUSCH COS INC 112.09 4.63% 1/Feb/15 2.4603 0.76%

PNC FUNDING CORP 107.13 3.63% 8/Feb/15 2.4795 1.33%

BOEING CO 110.28 3.50% 15/Feb/15 2.4986 0.28%

COCA COLA ENTERPRISES INC 111.77 4.25% 1/Mar/15 2.5370 0.59%

DEUTSCHE BK FINL LLC MTN 103.72 5.38% 2/Mar/15 2.5397 4.14%

DEERE JOHN CAP CORP MTNS BE 108.31 2.95% 9/Mar/15 2.5589 0.39%

BP CAP MKTS P L C 108.41 3.88% 10/Mar/15 2.5616 1.25%

BANK AMER CORP SR INTNOTES BE 100.00 4.20% 15/Mar/15 2.5753 4.20%

BAXTER INTL INC 113.00 4.63% 15/Mar/15 2.5753 0.63%

DU PONT E I DE NEMOURS & CO 113.40 4.75% 15/Mar/15 2.5753 0.63%

UNITEDHEALTH GROUP INC 113.11 4.88% 15/Mar/15 2.5753 0.83%

ROYAL BK SCOTLAND PLC 100.55 4.88% 16/Mar/15 2.5781 4.69%

AMERICA MOVIL SAB DE CV 108.02 3.63% 30/Mar/15 2.6164 1.16%

BANK AMER CORP 95.89 4.50% 1/Apr/15 2.6219 5.87%

COOPER US INC 114.71 5.45% 1/Apr/15 2.6219 0.96%

SOUTHERN CALIF EDISON CO 112.88 4.65% 1/Apr/15 2.6219 0.73%

BANK AMER CORP SR INTNOTES BE 99.10 4.00% 15/Apr/15 2.6603 4.29%

BOSTON PPTYS LTD PARTNERSHIP 112.28 5.63% 15/Apr/15 2.6603 1.85%

EMERSON ELEC CO 111.27 4.13% 15/Apr/15 2.6603 0.73%

HSBC FINANCE CORP 105.56 5.25% 15/Apr/15 2.6603 3.49%

HSBC FIN CORP HSBC FIN 103.97 3.90% 15/Apr/15 2.6603 2.66%

HSBC FIN CORP HSBC FIN 99.98 3.90% 15/Apr/15 2.6603 3.90%

BANCO BRADESCO S A GRAND 113.00 8.75% 24/Apr/15 2.6849 4.57%

MORGAN STANLEY 99.80 6.00% 28/Apr/15 2.6959 6.07%

JPMORGAN CHASE & CO 107.17 5.25% 1/May/15 2.7041 3.02%

THERMO FISHER SCIENTIFIC INC 108.48 3.20% 1/May/15 2.7041 0.68%

UNITED TECHNOLOGIES CORP 115.29 4.88% 1/May/15 2.7041 0.37%

CITIGROUP INC 102.30 4.88% 7/May/15 2.7205 4.15%

BANK AMER CORP SR INTNOTES BE 98.08 4.25% 15/May/15 2.7425 4.86%

GOLDMAN SACHS GRP INC MTN BE 102.81 4.50% 15/May/15 2.7425 3.63%

CITIGROUP INC 103.64 4.75% 19/May/15 2.7534 3.62%

CITIGROUP INC 103.75 4.70% 29/May/15 2.7808 3.55%

ALCAN INC 111.19 5.00% 1/Jun/15 2.7890 1.70%

BOSTON PPTYS LTD PARTNERSHIP 109.44 5.00% 1/Jun/15 2.7890 2.18%

TRANSCANADA CORP 108.50 3.40% 1/Jun/15 2.7890 0.93%

PRUDENTIAL FINL INC MTNS BOOK 107.55 4.75% 13/Jun/15 2.8219 2.50%

BANK AMER CORP SR INTNOTES BE 98.32 4.35% 15/Jun/15 2.8274 4.87%

GOLDMAN SACHS GRP INC MTN BE 108.38 5.60% 15/Jun/15 2.8274 3.08%

HSBC FIN CORP HSBC FIN 101.88 4.00% 15/Jun/15 2.8274 3.43%

SIMON PPTY GROUP LP 109.84 5.10% 15/Jun/15 2.8274 2.20%

HSBC FINANCE CORP 104.50 5.00% 30/Jun/15 2.8685 3.65%

HSBC FIN CORP HSBC FIN 103.30 4.15% 15/Jul/15 2.9096 3.18%

HSBC FIN CORP HSBC FIN 102.94 3.90% 15/Jul/15 2.9096 3.04%

HSBC FIN CORP HSBC FIN 102.03 3.85% 15/Jul/15 2.9096 3.25%

NCNB CORP 115.75 10.20% 15/Jul/15 2.9096 5.35%

SWISS BANK CORP 117.26 7.38% 15/Jul/15 2.9096 2.37%

MORGAN STANLEY 98.03 4.00% 24/Jul/15 2.9342 4.59%

BANK OF AMERICA CORPORATION 96.49 4.75% 1/Aug/15 2.9562 5.82%

GOLDMAN SACHS GRP INC MTN BE 99.28 3.70% 1/Aug/15 2.9562 3.91%

AT&T INC 105.96 2.50% 15/Aug/15 2.9945 0.86%

NATIONSBANK CORP 103.48 7.75% 15/Aug/15 2.9945 6.67%

BANK AMER CORP 93.28 3.70% 1/Sep/15 3.0411 5.72%

DELL INC 104.57 2.30% 10/Sep/15 3.0658 1.06%

HEWLETT PACKARD CO 102.93 2.13% 13/Sep/15 3.0740 1.33%

AMERICAN EXPRESS CR CORP INTER 115.38 6.65% 15/Sep/15 3.0795 2.38%

AMERICAN EXPRESS CR CORP MTNBE 101.79 2.75% 15/Sep/15 3.0795 2.25%

BANK AMER CORP SR INTNOTES BE 101.46 5.25% 15/Sep/15 3.0795 4.82%

PRAXAIR INC 108.78 3.25% 15/Sep/15 3.0795 0.89%

SOUTHERN CO 104.62 2.38% 15/Sep/15 3.0795 1.12%

VERIZON GLOBAL FDG CORP 114.85 4.90% 15/Sep/15 3.0795 0.91%

VODAFONE GROUP PLC NEW 113.84 5.00% 15/Sep/15 3.0795 1.25%

FRANCE TELECOM SA 101.16 2.13% 16/Sep/15 3.0822 1.81%

MANULIFE FINL CORP 103.50 3.40% 17/Sep/15 3.0849 2.43%

PNC FUNDING CORP 110.14 4.25% 21/Sep/15 3.0959 1.50%

ROYAL BK SCOTLAND PLC 97.03 3.95% 21/Sep/15 3.0959 4.81%

MERRILL LYNCH CO INC MTN BE 98.27 5.30% 30/Sep/15 3.1205 5.81%

AMERICAN INTL GROUP INC 100.18 5.05% 1/Oct/15 3.1233 5.00%

BP CAP MKTS P L C 106.09 3.13% 1/Oct/15 3.1233 1.48%

JPMORGAN CHASE & CO 106.84 5.15% 1/Oct/15 3.1233 3.24%

NATIONAL RURAL UTILS COOP FIN 120.50 7.20% 1/Oct/15 3.1233 1.66%

CITIGROUP GLOBAL MKTS HLDGS 105.25 5.00% 15/Oct/15 3.1616 3.55%

EBAY INC 103.53 1.63% 15/Oct/15 3.1616 0.70%

INCO LTD 109.75 5.70% 15/Oct/15 3.1616 3.01%

LOWES COS INC 113.89 5.00% 15/Oct/15 3.1616 1.31%

TYCO INTL GROUP S A 106.75 3.38% 15/Oct/15 3.1616 1.57%

POLAND REP 108.05 5.00% 19/Oct/15 3.1726 2.80%

DIAGEO FIN BV 116.21 5.30% 28/Oct/15 3.1973 1.06%

RIO TINTO FIN USA LTD 103.84 1.88% 2/Nov/15 3.2110 0.88%

PNC FUNDING CORP 109.91 5.25% 15/Nov/15 3.2466 2.60%

BANK OF AMERICA CORPORATION 96.94 5.25% 1/Dec/15 3.2904 6.12%

HEWLETT PACKARD CO 103.23 2.20% 1/Dec/15 3.2904 1.37%

BHP BILLITON FIN USA LTD 117.69 5.25% 15/Dec/15 3.3288 0.79%

BANK AMER CORP SR INTNOTES BE 90.79 3.65% 15/Dec/15 3.3288 6.27%

CITIGROUP INC 103.39 4.59% 15/Dec/15 3.3288 3.68%

BB&T CORP 111.52 5.20% 23/Dec/15 3.3507 2.22%

CITIGROUP INC 106.25 5.30% 7/Jan/16 3.3918 3.64%

VALE OVERSEAS LTD 113.13 6.25% 11/Jan/16 3.4027 2.84%

DU PONT E I DE NEMOURS & CO 104.16 1.95% 15/Jan/16 3.4137 0.92%

GOLDMAN SACHS GROUP INC 104.00 5.35% 15/Jan/16 3.4137 4.28%

HSBC FIN CORP HSBC FIN 100.00 3.35% 15/Jan/16 3.4137 3.35%

ORACLE CORP / OZARK HLDG INC 117.78 5.25% 15/Jan/16 3.4137 0.85%

LLOYDS TSB BK PLC 100.18 4.88% 21/Jan/16 3.4301 4.83%

EOG RES INC 104.71 2.50% 1/Feb/16 3.4603 1.33%

OCCIDENTAL PETE CORP DEL 107.81 2.50% 1/Feb/16 3.4603 0.60%

GOLDMAN SACHS GROUP INC 96.20 3.63% 7/Feb/16 3.4767 4.63%

ANHEUSER BUSCH INBEV WORLDWIDE 108.00 2.88% 15/Feb/16 3.4986 0.93%

ROYAL BK OF SCOTLAND PLC 96.00 4.00% 15/Feb/16 3.4986 5.06%

ROYAL BK OF SCOTLAND PLC 100.50 4.25% 15/Feb/16 3.4986 4.12%

VERIZON COMMUNICATIONS INC 116.66 5.55% 15/Feb/16 3.4986 1.45%

CISCO SYS INC 118.67 5.50% 22/Feb/16 3.5178 0.98%

HOME DEPOT INC 116.42 5.40% 1/Mar/16 3.5397 1.41%

MCKESSON CORP 108.55 3.25% 1/Mar/16 3.5397 1.18%

STATE STR CORP 105.30 2.88% 7/Mar/16 3.5562 1.59%

BP CAP MKTS P L C 107.27 3.20% 11/Mar/16 3.5671 1.44%

ALLTEL CORP 122.79 7.00% 15/Mar/16 3.5781 1.49%

BANK AMER CORP SR INTNOTES BE 97.82 4.50% 15/Mar/16 3.5781 5.07%

CATERPILLAR FINL SVCS MTNS BE 117.62 5.50% 15/Mar/16 3.5781 1.27%

GOLDMAN SACHS GRP INC MTN BE 102.50 4.00% 15/Mar/16 3.5781 3.37%

HSBC FIN CORP HSBC FIN 99.42 3.20% 15/Mar/16 3.5781 3.35%

HONEYWELL INTL INC 119.16 5.40% 15/Mar/16 3.5781 0.84%

LOEWS CORP 112.34 5.25% 15/Mar/16 3.5781 2.22%

PRUDENTIAL FINL INC MTNS BOOK 111.17 5.50% 15/Mar/16 3.5781 2.72%

VODAFONE GROUP PLC NEW 118.19 5.75% 15/Mar/16 3.5781 1.37%

VODAFONE GROUP PLC NEW 108.54 2.88% 16/Mar/16 3.5808 0.84%

BANK AMER CORP 90.89 3.63% 17/Mar/16 3.5836 6.07%

DELL INC 107.92 3.10% 1/Apr/16 3.6247 1.22%

DU PONT E I DE NEMOURS & CO 108.28 2.75% 1/Apr/16 3.6247 0.80%

VERIZON COMMUNICATIONS INC 107.16 3.00% 1/Apr/16 3.6247 1.30%

MONSANTO CO 107.24 2.75% 15/Apr/16 3.6630 1.05%

BB&T CORPORATION 110.17 3.95% 29/Apr/16 3.7014 1.56%

MORGAN STANLEY 90.26 3.80% 29/Apr/16 3.7014 6.37%

LOCKHEED MARTIN CORP 126.23 7.65% 1/May/16 3.7068 1.49%

AT&T INC 107.34 2.95% 15/May/16 3.7452 1.25%

BANK AMER CORP SR INTNOTES BE 97.89 4.75% 15/May/16 3.7452 5.29%

COUNTRYWIDE FINANCIAL CORP 95.78 6.25% 15/May/16 3.7452 7.38%

GOLDMAN SACHS GRP INC MTN BE 105.12 4.50% 15/May/16 3.7452 3.26%

GOLDMAN SACHS GRP INC MTN BE 113.00 5.85% 15/May/16 3.7452 2.73%

GOLDMAN SACHS GRP INC MTN BE 109.25 6.00% 15/May/16 3.7452 3.73%

MERRILL LYNCH & CO INC 96.00 6.05% 16/May/16 3.7479 7.11%

PHILIP MORRIS INTL INC 105.90 2.50% 16/May/16 3.7479 1.14%

TEXAS INSTRS INC 106.90 2.38% 16/May/16 3.7479 0.80%

RIO TINTO FIN USA LTD 105.25 2.50% 20/May/16 3.7589 1.29%
BARRICK GOLD CORP 105.45 2.90% 30/May/16 3.7863 1.64%

KELLOGG CO 113.35 4.45% 30/May/16 3.7863 1.38%

HEWLETT PACKARD CO 103.83 2.65% 1/Jun/16 3.7918 1.76%

METLIFE INC 116.65 6.75% 1/Jun/16 3.7918 2.79%

UNION BK CALIF N A MEDIUM TERM 103.66 3.00% 6/Jun/16 3.8055 2.15%

DEERE JOHN CAP CORP MTNS BE 106.10 2.25% 7/Jun/16 3.8082 0.87%

AMGEN INC 100.59 2.30% 15/Jun/16 3.8301 2.16%

APPLIED MATLS INC 105.24 2.65% 15/Jun/16 3.8301 1.45%

BANK AMER CHRLT NC MTN 99.94 6.00% 15/Jun/16 3.8301 6.02%

CITIGROUP INC 100.22 3.95% 15/Jun/16 3.8301 3.90%

GOLDMAN SACHS GRP INC MTN BE 105.90 6.00% 15/Jun/16 3.8301 4.55%

SBC COMMUNICATIONS INC 117.25 5.63% 15/Jun/16 3.8301 1.66%

BANK AMER CORP 91.00 3.75% 12/Jul/16 3.9041 6.01%

BANK AMER CORP SR INTNOTES BE 95.85 4.00% 15/Jul/16 3.9123 5.02%

GENERAL DYNAMICS CORP 105.30 2.25% 15/Jul/16 3.9123 1.07%

BANK AMER CORP 99.87 6.50% 1/Aug/16 3.9589 6.53%

CATERPILLAR FINL SVCS MTNS BE 103.53 2.05% 1/Aug/16 3.9589 1.27%

AIR PRODS & CHEMS INC 104.44 2.00% 2/Aug/16 3.9616 1.02%

AT&T INC 103.53 2.40% 15/Aug/16 3.9973 1.62%

BANK OF AMERICA CORPORATION 95.67 5.75% 15/Aug/16 3.9973 6.84%

CATERPILLAR INC DEL 119.77 5.70% 15/Aug/16 3.9973 1.35%

COMMONWEALTH EDISON CO 119.16 5.95% 15/Aug/16 3.9973 1.70%

DOMINION RES INC VA NEW 103.32 1.95% 15/Aug/16 3.9973 1.22%

GOLDMAN SACHS GRP INC MTN BE 97.61 3.50% 15/Aug/16 3.9973 4.06%

DISNEY WALT CO MTNS BE 101.51 1.35% 16/Aug/16 4.0000 1.02%

COCA COLA ENTERPRISES INC NEW 103.18 2.00% 19/Aug/16 4.0082 1.30%

BAXTER INTL INC 121.56 5.90% 1/Sep/16 4.0438 1.21%

HERSHEY CO 118.64 5.45% 1/Sep/16 4.0438 1.38%

AMERICA MOVIL SAB DE CV 100.96 2.38% 8/Sep/16 4.0630 2.16%

AMERICAN EXPRESS CO 114.42 5.50% 12/Sep/16 4.0740 2.30%

FRANCE TELECOM SA 100.86 2.75% 14/Sep/16 4.0795 2.56%

AMERICAN INTL GROUP INC 98.30 4.88% 15/Sep/16 4.0822 5.28%

BANK AMER CORP SR INTNOTES BE 98.49 5.45% 15/Sep/16 4.0822 5.81%

BANK AMER CORP SR INTNOTES BE 88.44 3.70% 15/Sep/16 4.0822 6.55%

CONSOLIDATED EDISON CO N Y INC 119.12 5.50% 15/Sep/16 4.0822 1.36%

DEERE JOHN CAP CORP MTNS BE 103.37 1.85% 15/Sep/16 4.0822 1.13%

DISNEY WALT CO MTNS BE 120.59 5.63% 15/Sep/16 4.0822 1.19%

HEWLETT PACKARD CO 104.21 3.00% 15/Sep/16 4.0822 2.07%

NATIONSBANK CORP 104.15 7.80% 15/Sep/16 4.0822 6.77%

WELLS FARGO & CO NEW 108.84 5.13% 15/Sep/16 4.0822 3.12%

AMERICAN EXPRESS CR CORP MTNBE 100.86 2.80% 19/Sep/16 4.0932 2.61%

RIO TINTO FIN USA LTD 103.09 2.25% 20/Sep/16 4.0959 1.58%

STRYKER CORP 103.58 2.00% 30/Sep/16 4.1233 1.23%

GOLDMAN SACHS GROUP INC 105.22 5.75% 1/Oct/16 4.1260 4.53%

INTEL CORP 103.68 1.95% 1/Oct/16 4.1260 1.17%

WESTERN UN CO 114.70 5.93% 1/Oct/16 4.1260 2.67%

PETROBRAS INTL FIN CO 114.00 6.13% 6/Oct/16 4.1397 3.00%

BANK OF AMERICA CORPORATION 96.17 5.63% 14/Oct/16 4.1616 6.55%

ANHEUSER BUSCH COS INC 115.81 5.05% 15/Oct/16 4.1644 1.66%

CONOCOPHILLIPS CDA FDG CO I 119.40 5.63% 15/Oct/16 4.1644 1.48%

WACHOVIA CORP NEW 109.46 5.63% 15/Oct/16 4.1644 3.50%

SIEMENS FIN NV 119.31 5.75% 17/Oct/16 4.1699 1.62%

AMERICAN INTL GROUP INC MTN BE 100.44 5.60% 18/Oct/16 4.1726 5.49%

MORGAN STANLEY 98.46 5.75% 18/Oct/16 4.1726 6.12%

BP CAP MKTS P L C 102.17 2.25% 1/Nov/16 4.2110 1.79%

VERIZON COMMUNICATIONS INC 101.48 2.00% 1/Nov/16 4.2110 1.69%

BECTON DICKINSON & CO 102.18 1.75% 8/Nov/16 4.2301 1.29%

TEVA PHARMACEUTICAL FIN CO B.V 101.95 2.40% 10/Nov/16 4.2356 1.98%

AMGEN INC 100.70 2.50% 15/Nov/16 4.2493 2.35%

BANK AMER CORP SR INTNOTES BE 94.01 3.55% 15/Nov/16 4.2493 4.93%

BOEING CO 112.83 3.75% 20/Nov/16 4.2630 1.09%

EMERSON ELEC CO 118.32 5.13% 1/Dec/16 4.2932 1.33%

GULF POWER CO 117.34 5.30% 1/Dec/16 4.2932 1.67%

DU PONT E I DE NEMOURS & CO 118.92 5.25% 15/Dec/16 4.3315 1.35%

MORGAN STANLEY 96.84 5.45% 9/Jan/17 4.4000 6.18%

APACHE CORP 121.52 5.63% 15/Jan/17 4.4164 1.27%

GOLDMAN SACHS GROUP INC 100.96 5.63% 15/Jan/17 4.4164 5.41%

BEAR STEARNS COS INC 107.28 5.55% 22/Jan/17 4.4356 3.97%

VALE OVERSEAS LTD 113.94 6.25% 23/Jan/17 4.4384 3.28%

SIMON PPTY GROUP LP 102.54 2.80% 30/Jan/17 4.4575 2.28%

PNC FUNDING CORP 109.75 5.63% 1/Feb/17 4.4630 3.54%

CITIGROUP INC 103.80 5.50% 15/Feb/17 4.5014 4.67%

CONSUMERS ENERGY CO 114.50 5.15% 15/Feb/17 4.5014 2.19%

OCCIDENTAL PETE CORP DEL 102.11 1.75% 15/Feb/17 4.5014 1.33%

VODAFONE GROUP PLC NEW 118.66 5.63% 27/Feb/17 4.5342 1.87%

HEWLETT PACKARD CO 116.22 5.40% 1/Mar/17 4.5397 2.12%

CISCO SYS INC 110.23 3.15% 14/Mar/17 4.5753 1.15%

BANK OF AMERICA CORPORATION 93.21 5.42% 15/Mar/17 4.5781 6.97%

COSTCO WHSL CORP NEW 122.42 5.50% 15/Mar/17 4.5781 1.12%

MCDONALDS CORP MED TERM NT BE 120.58 5.30% 15/Mar/17 4.5781 1.26%

VERIZON COMMUNICATIONS INC 118.94 5.50% 1/Apr/17 4.6247 1.76%

NATIONAL RURAL UTILS COOP FIN 116.94 5.45% 10/Apr/17 4.6493 2.09%

MORGAN STANLEY 95.10 5.55% 27/Apr/17 4.6959 6.64%

BURLINGTON NORTHN SANTA FE CP 117.99 5.65% 1/May/17 4.7068 2.12%

MERRILL LYNCH & CO INC 92.57 5.70% 2/May/17 4.7096 7.39%

ROYAL BK OF SCOTLAND PLC 96.27 4.00% 15/May/17 4.7452 4.78%

AMGEN INC 116.99 5.85% 1/Jun/17 4.7918 2.52%

BANK AMER CHRLT NC MTN 96.78 6.10% 15/Jun/17 4.8301 6.81%

NATIONAL SEMICONDUCTOR CORP 124.21 6.60% 15/Jun/17 4.8301 1.97%

PRUDENTIAL FINL INC MTNS BOOK 113.00 6.10% 15/Jun/17 4.8301 3.50%

WELLPOINT INC 117.08 5.88% 15/Jun/17 4.8301 2.55%

JPMORGAN CHASE & CO 111.05 6.13% 27/Jun/17 4.8630 3.90%

BB&T CORP 111.12 4.90% 30/Jun/17 4.8712 2.74%

COOPER US INC 121.77 6.10% 1/Jul/17 4.8740 1.96%

CAMPBELL SOUP CO 109.20 3.05% 15/Jul/17 4.9123 1.35%

HSBC FIN CORP HSBC FIN 110.67 6.00% 15/Jul/17 4.9123 3.87%

BANK AMER CORP SR INTNOTES BE 100.53 6.05% 15/Aug/17 4.9973 5.94%

BANK AMER CORP SR INTNOTES BE 101.24 6.00% 15/Aug/17 4.9973 5.74%

CITIGROUP INC 107.12 6.00% 15/Aug/17 4.9973 4.57%

AMERICAN EXPRESS CO 115.64 6.15% 28/Aug/17 5.0329 3.15%

MERRILL LYNCH CO INC MTN BE 96.75 6.40% 28/Aug/17 5.0329 7.10%

MORGAN STANLEY 99.37 6.25% 28/Aug/17 5.0329 6.38%

BANK OF AMERICA CORPORATION 96.68 6.00% 1/Sep/17 5.0438 6.70%

GOLDMAN SACHS GROUP INC 105.11 6.25% 1/Sep/17 5.0438 5.21%

SCHWAB CHARLES CORP SR MTN BE 119.00 6.38% 1/Sep/17 5.0438 2.78%

PITNEY BOWES INC GLBL MTN 113.10 5.75% 15/Sep/17 5.0822 3.25%

DEERE JOHN CAP CORP MTNS BE 106.71 2.80% 18/Sep/17 5.0904 1.58%

EXELON GENERATION CO LLC 116.78 6.20% 1/Oct/17 5.1260 3.04%

ALABAMA PWR CO 120.35 5.50% 15/Oct/17 5.1644 1.83%

HSBC FIN CORP HSBC FIN 112.18 5.85% 15/Oct/17 5.1644 3.55%

MCDONALDS CORP MED TERM NT BE 124.36 5.80% 15/Oct/17 5.1644 1.46%

DIAGEO CAP PLC 120.71 5.75% 23/Oct/17 5.1863 2.01%

BANK AMER CORP SR INTNOTES BE 95.84 5.10% 15/Nov/17 5.2493 5.94%

CITIGROUP INC 107.73 6.13% 21/Nov/17 5.2658 4.63%

BANK OF AMERICA CORPORATION 94.38 5.75% 1/Dec/17 5.2932 6.91%

NUCOR CORP 121.98 5.75% 1/Dec/17 5.2932 1.86%

PRUDENTIAL FINL INC MTNS BOOK 112.67 6.00% 1/Dec/17 5.2932 3.63%

ROCKWELL AUTOMATION INC 119.11 5.65% 1/Dec/17 5.2932 2.23%

CARDINAL HEALTH INC 117.25 5.85% 15/Dec/17 5.3315 2.73%

TRAVELERS COMPANIES INC 119.15 5.75% 15/Dec/17 5.3315 2.33%

UNITED TECHNOLOGIES CORP 120.44 5.38% 15/Dec/17 5.3315 1.79%

MORGAN STANLEY 97.20 5.95% 28/Dec/17 5.3671 6.51%

AMERITECH CAP FUNDING CORP 124.00 6.45% 15/Jan/18 5.4164 2.23%

AMERICAN INTL GROUP INC MTN BE 99.06 5.85% 16/Jan/18 5.4192 6.03%

GOLDMAN SACHS GROUP INC 101.77 5.95% 18/Jan/18 5.4247 5.60%

AT&T INC 117.76 5.50% 1/Feb/18 5.4630 2.39%

NATIONAL RURAL UTILS COOP FIN 120.06 5.45% 1/Feb/18 5.4630 1.98%

BANK AMER CORP SR INTNOTES BE 93.00 5.10% 15/Feb/18 5.5014 6.47%

HSBC FIN CORP HSBC FIN 106.21 5.60% 15/Feb/18 5.5014 4.45%

VERIZON COMMUNICATIONS INC 119.73 5.50% 15/Feb/18 5.5014 2.09%

CONSUMERS ENERGY CO 120.50 6.88% 1/Mar/18 5.5397 3.23%

HEWLETT PACKARD CO 116.10 5.50% 1/Mar/18 5.5397 2.68%

HONEYWELL INTL INC 118.65 5.30% 1/Mar/18 5.5397 2.10%

MCDONALDS CORP MED TERM NT BE 123.31 5.35% 1/Mar/18 5.5397 1.44%

PETROBRAS INTL FIN CO 110.19 5.88% 1/Mar/18 5.5397 4.02%

KONINKLIJKE PHILIPS ELECTRS NV 119.77 5.75% 11/Mar/18 5.5671 2.34%

ARCHER DANIELS MIDLAND CO 120.58 5.45% 15/Mar/18 5.5781 1.96%

COMPUTER SCIENCES CORP 106.65 6.50% 15/Mar/18 5.5781 5.24%

GOLDMAN SACHS GRP INC MTN BE 101.00 4.00% 15/Mar/18 5.5781 3.82%

MIDAMERICAN ENERGY CO 119.71 5.30% 15/Mar/18 5.5781 1.95%

AMERICAN EXPRESS CO 119.82 7.00% 19/Mar/18 5.5890 3.47%

ANHEUSER BUSCH COS INC 112.33 4.50% 1/Apr/18 5.6247 2.39%

GOLDMAN SACHS GROUP INC 102.69 6.15% 1/Apr/18 5.6247 5.64%

DEERE JOHN CAP CORP MTNS BE 120.88 5.35% 3/Apr/18 5.6301 1.84%

CATERPILLAR FINL SVCS MTNS BE 120.16 5.45% 15/Apr/18 5.6630 2.06%

DELL INC 118.13 5.65% 15/Apr/18 5.6630 2.55%

GTE CORP 122.11 6.84% 15/Apr/18 5.6630 3.00%

ORACLE CORP 123.15 5.75% 15/Apr/18 5.6630 1.88%

VERIZON COMMUNICATIONS INC 121.38 6.10% 15/Apr/18 5.6630 2.46%

MERRILL LYNCH CO INC MTN BE 99.03 6.88% 25/Apr/18 5.6904 7.06%

BANK AMER CORP 92.34 5.65% 1/May/18 5.7068 7.16%

BRISTOL MYERS SQUIBB CO 122.49 5.45% 1/May/18 5.7068 1.73%

COLUMBUS SOUTHERN PWR CO 120.00 6.05% 1/May/18 5.7068 2.64%

ENTERGY GULF STS LA LLC 118.36 6.00% 1/May/18 5.7068 2.85%

PUBLIC SVC CO N H 121.89 6.00% 1/May/18 5.7068 2.31%

AT&T INC 117.70 5.60% 15/May/18 5.7452 2.60%

CITIGROUP INC 107.37 6.13% 15/May/18 5.7452 4.78%

CONOCOPHILLIPS 118.27 5.20% 15/May/18 5.7452 2.15%

GLAXOSMITHKLINE CAP INC 122.77 5.65% 15/May/18 5.7452 1.89%

TRAVELERS COMPANIES INC 119.52 5.80% 15/May/18 5.7452 2.51%

PHILIP MORRIS INTL INC 119.81 5.65% 16/May/18 5.7479 2.33%

AMGEN INC 117.21 6.15% 1/Jun/18 5.7918 3.20%

BAXTER INTL INC 120.09 5.38% 1/Jun/18 5.7918 2.06%

GEORGIA PWR CO 120.53 5.40% 1/Jun/18 5.7918 2.01%

VEOLIA ENVIRONNEMENT 112.48 6.00% 1/Jun/18 5.7918 3.81%

ABN AMRO BK N V AMSTERDAM BRH 94.08 4.65% 4/Jun/18 5.8000 5.75%

BP CAP MKTS AMER INC 110.11 4.20% 15/Jun/18 5.8301 2.51%

FLORIDA POWER CORP 122.14 5.65% 15/Jun/18 5.8301 2.02%

AVON PRODS INC 105.05 4.20% 15/Jul/18 5.9123 3.34%

DU PONT E I DE NEMOURS & CO 127.13 6.00% 15/Jul/18 5.9123 1.66%

KIMBERLY CLARK CORP 127.44 6.25% 15/Jul/18 5.9123 1.83%

MERRILL LYNCH & CO INC 99.56 6.50% 15/Jul/18 5.9123 6.58%

PACIFICORP 121.97 5.65% 15/Jul/18 5.9123 2.08%

RIO TINTO FIN USA LTD 121.47 6.50% 15/Jul/18 5.9123 2.91%

THOMSON REUTERS CORP 121.93 6.50% 15/Jul/18 5.9123 2.84%

DEERE JOHN CAP CORP MTNS BE 125.38 5.75% 10/Sep/18 6.0685 1.76%

AETNA INC 123.61 6.50% 15/Sep/18 6.0822 2.67%

BANK AMER CORP SUB INTNTS BE 101.91 6.35% 15/Sep/18 6.0822 6.00%

BANK AMER CORP SUB INTNTS BE 98.25 6.35% 15/Sep/18 6.0822 6.67%

CATERPILLAR FINL SVCS MTNS BE 130.87 7.05% 1/Oct/18 6.1260 2.17%

PACIFIC GAS & ELEC CO 135.17 8.25% 15/Oct/18 6.1644 2.62%

BROADCOM CORP 102.54 2.70% 1/Nov/18 6.2110 2.30%

KIMBERLY CLARK CORP 134.71 7.50% 1/Nov/18 6.2110 2.08%

NATIONAL RURAL UTILS COOP FIN 128.00 6.55% 1/Nov/18 6.2110 2.17%

SOUTH CAROLINA ELEC & GAS CO 127.75 6.50% 1/Nov/18 6.2110 2.16%

VERIZON COMMUNICATIONS INC 138.74 8.75% 1/Nov/18 6.2110 2.60%

MERRILL LYNCH & CO INC 104.71 6.88% 15/Nov/18 6.2493 6.04%

CATERPILLAR INC DEL 136.36 7.90% 15/Dec/18 6.3315 2.28%

RAYTHEON CO 125.48 6.40% 15/Dec/18 6.3315 2.44%

PACIFICORP 121.94 5.50% 15/Jan/19 6.4164 2.16%

TRANSCANADA CORP 128.32 7.13% 15/Jan/19 6.4164 2.72%

TYCO INTL GROUP S A 131.00 8.50% 15/Jan/19 6.4164 3.54%

WALGREEN CO 121.22 5.25% 15/Jan/19 6.4164 2.04%

AMGEN INC 116.25 5.70% 1/Feb/19 6.4630 3.15%

CONOCOPHILLIPS 124.24 5.75% 1/Feb/19 6.4630 2.09%

MCDONALDS CORP MED TERM NT BE 118.75 5.00% 1/Feb/19 6.4630 2.16%

UNITED TECHNOLOGIES CORP 126.77 6.13% 1/Feb/19 6.4630 2.08%

AT&T INC 120.42 5.80% 15/Feb/19 6.5014 2.67%

BANK AMER CORP SR INTNOTES BE 88.69 5.40% 15/Feb/19 6.5014 7.46%

CATERPILLAR FINL SVCS MTNS BE 130.63 7.15% 15/Feb/19 6.5014 2.48%

CISCO SYS INC 116.90 4.95% 15/Feb/19 6.5014 2.38%

GOLDMAN SACHS GRP INC MTN BE 108.18 7.50% 15/Feb/19 6.5014 6.08%

HONEYWELL INTL INC 118.65 5.00% 15/Feb/19 6.5014 2.19%

METLIFE INC 127.47 7.72% 15/Feb/19 6.5014 3.39%

WELLPOINT INC 126.55 7.00% 15/Feb/19 6.5014 2.89%

ANHEUSER BUSCH COS INC 116.25 5.00% 1/Mar/19 6.5397 2.53%

BP CAP MKTS P L C 114.83 4.75% 10/Mar/19 6.5644 2.51%

BOEING CO 124.71 6.00% 15/Mar/19 6.5781 2.30%

DISNEY WALT CO MTNS BE 122.89 5.50% 15/Mar/19 6.5781 2.10%

DU PONT E I DE NEMOURS & CO 122.17 5.75% 15/Mar/19 6.5781 2.41%

PETROBRAS INTL FIN CO 121.65 7.88% 15/Mar/19 6.5781 4.37%

EATON CORP 130.05 6.95% 20/Mar/19 6.5918 2.43%

BHP BILLITON FIN USA LTD 125.90 6.50% 1/Apr/19 6.6247 2.60%

BARRICK GOLD CORP 126.23 6.95% 1/Apr/19 6.6247 2.95%

VERIZON COMMUNICATIONS INC 124.91 6.35% 1/Apr/19 6.6247 2.60%

DIAMOND OFFSHORE DRILLING INC 117.00 5.88% 1/May/19 6.7068 3.27%

RIO TINTO FIN USA LTD 137.00 9.00% 1/May/19 6.7068 3.33%

AFLAC INC 124.18 8.50% 15/May/19 6.7452 4.63%

CORNING INC 123.72 6.63% 15/May/19 6.7452 3.04%

GOLDMAN SACHS GRP INC MTN BE 112.00 6.75% 15/May/19 6.7452 4.82%

NATIONAL CITY CORP 118.74 6.88% 15/May/19 6.7452 3.95%

ALLSTATE CORP 123.61 7.45% 16/May/19 6.7479 3.79%

AMERICAN EXPRESS CO 130.28 8.13% 20/May/19 6.7589 3.49%

CITIGROUP INC 119.76 8.50% 22/May/19 6.7644 5.27%

BANK AMER CORP 101.15 7.63% 1/Jun/19 6.7918 7.42%

PUBLIC SERVICE CO COLO 121.26 5.13% 1/Jun/19 6.7918 2.05%

TRAVELERS COMPANIES INC 122.90 5.90% 2/Jun/19 6.7945 2.53%

PNC FUNDING CORP 126.28 6.70% 10/Jun/19 6.8164 2.80%

DELL INC 120.06 5.88% 15/Jun/19 6.8301 2.89%

PRUDENTIAL FINL INC MTNS BOOK 118.31 7.38% 15/Jun/19 6.8301 4.49%

LINCOLN NATL CORP IND 121.84 8.75% 1/Jul/19 6.8740 5.22%

ORACLE CORP 118.74 5.00% 8/Jul/19 6.8932 2.30%

POLAND REP 112.18 6.38% 15/Jul/19 6.9123 4.47%

ST JUDE MED INC 115.69 4.88% 15/Jul/19 6.9123 2.59%

BANK AMER CORP SR INTNOTES BE 98.66 6.40% 15/Aug/19 6.9973 6.62%

BANK AMER CORP SR INTNOTES BE 93.12 4.65% 15/Aug/19 6.9973 5.77%

DOMINION RES INC VA NEW 118.81 5.20% 15/Aug/19 6.9973 2.50%

GOLDMAN SACHS GRP INC MTN BE 95.42 4.25% 15/Aug/19 6.9973 4.97%

BANK AMER CORP SR INTNOTES BE 89.94 4.75% 15/Sep/19 7.0822 6.41%

GOLDMAN SACHS GRP INC MTN BE 101.00 5.05% 15/Sep/19 7.0822 4.89%

HALLIBURTON CO 125.59 6.15% 15/Sep/19 7.0822 2.51%

VALE OVERSEAS LTD 110.39 5.63% 15/Sep/19 7.0822 4.06%

MORGAN STANLEY 90.16 5.63% 23/Sep/19 7.1041 7.30%

BURLINGTON NORTHN SANTA FE CP 114.02 4.70% 1/Oct/19 7.1260 2.70%

EMERSON ELEC CO 119.16 4.88% 15/Oct/19 7.1644 2.21%

NATIONAL RURAL UTILS COOP FIN 101.55 3.00% 15/Oct/19 7.1644 2.78%

PROTECTIVE LIFE CORP 111.61 7.38% 15/Oct/19 7.1644 5.53%

DEERE & CO 115.23 4.38% 16/Oct/19 7.1671 2.25%

BOEING CAP CORP 115.50 4.70% 27/Oct/19 7.1973 2.53%

KELLOGG CO 112.25 4.15% 15/Nov/19 7.2493 2.45%

LOCKHEED MARTIN CORP 108.50 4.25% 15/Nov/19 7.2493 3.04%

REINSURANCE GROUP AMER INC 114.00 6.45% 15/Nov/19 7.2493 4.35%

BLACKROCK INC 113.16 5.00% 10/Dec/19 7.3178 3.13%

BANK AMER CORP SR INTNOTES BE 92.50 5.00% 15/Dec/19 7.3315 6.20%

BURLINGTON NORTHN RR CO 105.50 3.80% 1/Jan/20 7.3781 3.03%

BURLINGTON NORTHN RR CO 126.00 6.55% 1/Jan/20 7.3781 2.92%

ANHEUSER BUSCH INBEV WORLDWIDE 120.08 5.38% 15/Jan/20 7.4164 2.61%

BARRICK PD AUSTRALIA FIN PTY L 112.81 4.95% 15/Jan/20 7.4164 3.15%

CISCO SYS INC 115.75 4.45% 15/Jan/20 7.4164 2.31%

CONOCOPHILLIPS 126.23 6.00% 15/Jan/20 7.4164 2.42%

DU PONT E I DE NEMOURS & CO 118.98 4.63% 15/Jan/20 7.4164 2.07%

STRYKER CORP 114.66 4.38% 15/Jan/20 7.4164 2.38%

PETROBRAS INTL FIN CO 108.93 5.75% 20/Jan/20 7.4301 4.43%

BANK AMER CORP SR INTNOTES BE 90.62 4.75% 15/Feb/20 7.5014 6.23%

BOEING CO 118.20 4.88% 15/Feb/20 7.5014 2.42%

LINCOLN NATL CORP IND 113.83 6.25% 15/Feb/20 7.5014 4.24%

AMERIPRISE FINL INC 109.31 5.30% 15/Mar/20 7.5808 3.97%

AMGEN INC 108.67 4.50% 15/Mar/20 7.5808 3.30%

GOLDMAN SACHS GRP INC MTN BE 95.82 5.38% 15/Mar/20 7.5808 6.02%

PHILIP MORRIS INTL INC 114.22 4.50% 26/Mar/20 7.6110 2.59%

COMPASS BK BIRMINGHAM ALA 103.80 5.50% 1/Apr/20 7.6274 4.94%

LOWES COS INC 112.66 4.63% 15/Apr/20 7.6658 2.91%

ROYAL BK OF SCOTLAND PLC 91.80 5.00% 15/Apr/20 7.6658 6.26%

UNITED TECHNOLOGIES CORP 115.69 4.50% 15/Apr/20 7.6658 2.42%

CONSOLIDATED EDISON CO N Y INC 115.57 4.45% 15/Jun/20 7.8329 2.42%

GOLDMAN SACHS GRP INC MTN BE 99.95 6.00% 15/Jun/20 7.8329 6.01%

BANK AMER CORP 89.49 5.63% 1/Jul/20 7.8767 7.29%

MCDONALDS CORP MED TERM NT BE 110.10 3.50% 15/Jul/20 7.9151 2.21%

TARGET CORP 112.03 3.88% 15/Jul/20 7.9151 2.33%

SCHWAB CHARLES CORP NEW 106.90 4.45% 22/Jul/20 7.9342 3.52%

MORGAN STANLEY 88.31 5.50% 24/Jul/20 7.9397 7.35%

CITIGROUP INC 102.76 5.38% 9/Aug/20 7.9836 4.98%

BANK AMER CORP SR INTNOTES BE 93.50 5.00% 15/Aug/20 8.0000 5.97%

BANK AMER CORP SR INTNOTES BE 88.60 4.75% 15/Aug/20 8.0000 6.48%

ROYAL BK SCOTLAND PLC 96.46 5.63% 24/Aug/20 8.0247 6.15%

AETNA INC NEW 106.50 3.95% 1/Sep/20 8.0466 3.10%

BURLINGTON NORTHN SANTA FE CP 105.00 3.60% 1/Sep/20 8.0466 2.95%

ALLERGAN INC 106.73 3.38% 15/Sep/20 8.0849 2.52%

BANK AMER CORP SR INTNOTES BE 92.00 4.75% 15/Sep/20 8.0849 5.93%

HOME DEPOT INC 109.97 3.95% 15/Sep/20 8.0849 2.67%

SVB FINL GROUP 106.85 5.38% 15/Sep/20 8.0849 4.43%

VALE OVERSEAS LTD 103.52 4.63% 15/Sep/20 8.0849 4.14%

ALABAMA PWR CO 108.05 3.38% 1/Oct/20 8.1288 2.36%

AMGEN INC 100.72 3.45% 1/Oct/20 8.1288 3.35%

BP CAP MKTS P L C 114.14 4.50% 1/Oct/20 8.1288 2.69%

BARCLAYS BANK PLC 84.27 5.14% 14/Oct/20 8.1644 7.61%

RAYTHEON CO 104.83 3.13% 15/Oct/20 8.1671 2.52%

UNITEDHEALTH GROUP INC 109.76 3.88% 15/Oct/20 8.1671 2.63%

GEORGIA-PACIFIC LLC 113.10 5.40% 1/Nov/20 8.2137 3.66%

TRAVELERS COMPANIES INC 109.13 3.90% 1/Nov/20 8.2137 2.74%

RIO TINTO FIN USA LTD 105.49 3.50% 2/Nov/20 8.2164 2.80%

BANK AMER CORP SR INTNOTES BE 87.75 4.80% 15/Nov/20 8.2521 6.64%

BOSTON PPTYS LTD PARTNERSHIP 113.36 5.63% 15/Nov/20 8.2521 3.85%

EMERSON ELEC CO 112.89 4.25% 15/Nov/20 8.2521 2.63%

GOLDMAN SACHS GRP INC MTN BE 101.55 5.00% 15/Nov/20 8.2521 4.79%

PRUDENTIAL FINL INC MTNS BOOK 101.17 4.50% 15/Nov/20 8.2521 4.34%

HERSHEY CO 115.34 4.13% 1/Dec/20 8.2959 2.23%

HEWLETT PACKARD CO 102.28 3.75% 1/Dec/20 8.2959 3.45%

AMERICAN INTL GROUP INC 101.75 6.40% 15/Dec/20 8.3342 6.14%

CARDINAL HEALTH INC 110.54 4.63% 15/Dec/20 8.3342 3.27%

KELLOGG CO 107.85 4.00% 15/Dec/20 8.3342 3.00%

BANK AMER CORP 91.00 5.88% 5/Jan/21 8.3918 7.24%

ROYAL BK SCOTLAND PLC 101.04 6.13% 11/Jan/21 8.4082 5.97%

DU PONT E I DE NEMOURS & CO 110.78 3.63% 15/Jan/21 8.4192 2.31%

LLOYDS TSB BK PLC 101.73 6.38% 21/Jan/21 8.4356 6.12%

MORGAN STANLEY 89.56 5.75% 25/Jan/21 8.4466 7.34%

EOG RES INC 112.49 4.10% 1/Feb/21 8.4658 2.56%

OCCIDENTAL PETE CORP DEL 113.08 4.10% 1/Feb/21 8.4658 2.49%

METLIFE INC 110.81 4.75% 8/Feb/21 8.4849 3.37%

ANHEUSER BUSCH INBEV WORLDWIDE 116.53 4.38% 15/Feb/21 8.5041 2.37%

HERSHEY CO 146.41 8.80% 15/Feb/21 8.5041 2.99%

HONEYWELL INTL INC 114.93 4.25% 1/Mar/21 8.5425 2.44%

MCKESSON CORP 115.60 4.75% 1/Mar/21 8.5425 2.82%

SIMON PPTY GROUP LP 109.00 4.38% 1/Mar/21 8.5425 3.24%

THERMO FISHER SCIENTIFIC INC 113.06 4.50% 1/Mar/21 8.5425 2.88%

UNITED TECHNOLOGIES CORP 148.52 8.75% 1/Mar/21 8.5425 2.77%

BP CAP MKTS P L C 115.92 4.74% 11/Mar/21 8.5699 2.78%

DOMINION RES INC VA NEW 115.91 4.45% 15/Mar/21 8.5808 2.52%

VODAFONE GROUP PLC NEW 112.96 4.38% 16/Mar/21 8.5836 2.78%

DELL INC 109.54 4.63% 1/Apr/21 8.6274 3.42%

DU PONT E I DE NEMOURS & CO 114.59 4.25% 1/Apr/21 8.6274 2.49%

VERIZON COMMUNICATIONS INC 111.65 4.60% 1/Apr/21 8.6274 3.15%

ENTERGY LOUISIANA LLC 113.67 4.80% 1/May/21 8.7096 3.11%

BANK AMER CORP 85.80 5.00% 13/May/21 8.7425 7.09%

AT&T INC 109.23 4.45% 15/May/21 8.7479 3.31%

BOSTON PPTYS LTD PARTNERSHIP 102.08 4.13% 15/May/21 8.7479 3.86%

GOLDMAN SACHS GRP INC MTN BE 99.72 4.50% 15/May/21 8.7479 4.54%

REPUBLIC N Y CORP 130.47 9.13% 15/May/21 8.7479 5.04%

RIO TINTO FIN USA LTD 109.33 4.13% 20/May/21 8.7616 2.99%

BLACKROCK INC 107.26 4.25% 24/May/21 8.7726 3.35%

CATERPILLAR INC DEL 110.28 3.90% 27/May/21 8.7808 2.67%

BARRICK NORTH AMERICA FIN LLC 108.43 4.40% 30/May/21 8.7890 3.36%

CINTAS CORP NO 2 109.56 4.30% 1/Jun/21 8.7945 3.13%

DISNEY WALT CO MTNS BE 113.31 3.75% 1/Jun/21 8.7945 2.19%

HEWLETT PACKARD CO 106.28 4.30% 1/Jun/21 8.7945 3.52%

PUBLIC SVC ELEC & GAS CO 150.06 9.25% 1/Jun/21 8.7945 3.12%

REPUBLIC N Y CORP 117.77 9.30% 1/Jun/21 8.7945 6.74%

AMGEN INC 104.25 4.10% 15/Jun/21 8.8329 3.57%

APPLIED MATLS INC 110.47 4.30% 15/Jun/21 8.8329 3.03%

DEERE JOHN CAP CORP MTNS BE 110.11 3.90% 12/Jul/21 8.9068 2.70%

GENERAL DYNAMICS CORP 111.98 3.88% 15/Jul/21 8.9151 2.47%

GOLDMAN SACHS GROUP INC 93.71 5.25% 27/Jul/21 8.9479 6.12%

MORGAN STANLEY 86.80 5.50% 28/Jul/21 8.9507 7.44%

AT&T INC 104.95 3.88% 15/Aug/21 9.0000 3.28%

DISNEY WALT CO MTNS BE 103.16 2.75% 16/Aug/21 9.0027 2.38%

DAIMLER FINANCE NORTH AMER LLC 102.09 3.88% 15/Sep/21 9.0849 3.62%

FLUOR CORP NEW 103.34 3.38% 15/Sep/21 9.0849 2.98%

HEWLETT PACKARD CO 105.72 4.38% 15/Sep/21 9.0849 3.67%

LOCKHEED MARTIN CORP 101.02 3.35% 15/Sep/21 9.0849 3.23%

RIO TINTO FIN USA LTD 104.78 3.75% 20/Sep/21 9.0986 3.18%

BURLINGTON RES INC 145.72 9.13% 1/Oct/21 9.1288 3.57%

INTEL CORP 104.85 3.30% 1/Oct/21 9.1288 2.73%

DEERE JOHN CAP CORP MTNS BE 104.70 3.15% 15/Oct/21 9.1671 2.61%

SMUCKER J M CO 104.23 3.50% 15/Oct/21 9.1671 3.00%

BP CAP MKTS P L C 104.93 3.56% 1/Nov/21 9.2137 2.98%

VERIZON COMMUNICATIONS INC 102.22 3.50% 1/Nov/21 9.2137 3.24%

AIR PRODS & CHEMS INC 104.39 3.00% 3/Nov/21 9.2192 2.50%

TEVA PHARMACEUTICAL FIN IV B V 100.82 3.65% 10/Nov/21 9.2384 3.55%

AMGEN INC 100.06 3.88% 15/Nov/21 9.2521 3.87%

PHILIP MORRIS INTL INC 101.45 2.90% 15/Nov/21 9.2521 2.73%

SIMON PPTY GROUP LP 105.70 4.13% 1/Dec/21 9.2959 3.45%

CITIGROUP INC 97.30 4.50% 14/Jan/22 9.4164 4.84%

MCDONALDS CORP MED TERM NT BE 103.92 2.63% 15/Jan/22 9.4192 2.19%

MICHIGAN BELL TEL CO 131.52 7.85% 15/Jan/22 9.4192 4.03%

ATLANTIC RICHFIELD CO 138.08 8.25% 1/Feb/22 9.4658 3.72%

STATE TREAS REPUBLIC POLAND 101.50 5.00% 23/Mar/22 9.6027 4.81%

GOLDMAN SACHS GRP INC MTN BE 101.57 4.75% 15/May/22 9.7479 4.56%

NEW JERSEY BELL TEL CO 131.16 8.00% 1/Jun/22 9.7945 4.28%

GOLDMAN SACHS GRP INC MTN BE 108.00 5.70% 15/Jun/22 9.8329 4.73%

GOLDMAN SACHS GRP INC MTN BE 103.06 5.00% 15/Aug/22 10.0000 4.64%

COCA COLA ENTERPRISES INC 140.88 8.00% 15/Sep/22 10.0849 3.43%

NUCOR CORP 113.50 4.13% 15/Sep/22 10.0849 2.68%

ALABAMA PWR CO 127.98 5.88% 1/Dec/22 10.2959 2.89%

OCCIDENTAL PETE CORP MTN BK EN 142.00 8.75% 15/Jan/23 10.4192 4.03%

CANADIAN NATL RY CO 147.80 7.63% 15/May/23 10.7479 2.74%

PACIFICORP 134.00 7.26% 21/Jul/23 10.9315 3.65%

LORAL CORP 128.00 7.00% 15/Sep/23 11.0849 4.00%

LOUISIANA LD & EXPL CO 134.00 7.65% 1/Dec/23 11.2959 4.05%

ANR PIPELINE CO 135.00 7.38% 15/Feb/24 11.5041 3.77%

CORNING INC 135.94 7.00% 15/May/24 11.7507 3.43%

GOLDMAN SACHS GRP INC MTN BE 103.54 5.10% 15/Jun/24 11.8356 4.73%

GOLDMAN SACHS GRP INC MTN BE 103.87 5.25% 15/Aug/24 12.0027 4.84%
ENTERGY LOUISIANA LLC 118.07 5.40% 1/Nov/24 12.2164 3.64%

SCOTTISH PWR PLC 109.50 5.81% 15/Mar/25 12.5836 4.83%

BOEING CO 136.00 7.25% 15/Jun/25 12.8356 3.82%

LORAL CORP 133.00 7.63% 15/Jun/25 12.8356 4.37%

GOLDMAN SACHS GRP INC MTN BE 106.05 5.00% 15/Aug/25 13.0027 4.41%

BELLSOUTH TELECOM 123.75 7.00% 1/Oct/25 13.1315 4.65%

GEORGIA PAC CORP 131.06 7.38% 1/Dec/25 13.2986 4.38%

BURLINGTON NORTHN SANTA FE CP 139.04 7.00% 15/Dec/25 13.3370 3.47%

GE GLOBAL INS HLDG CORP 115.25 7.00% 15/Feb/26 13.5068 5.44%

PACIFIC BELL 133.38 7.13% 15/Mar/26 13.5836 4.03%

MORGAN STANLEY 92.45 6.25% 9/Aug/26 13.9863 7.08%

AETNA INC 137.00 7.63% 15/Aug/26 14.0027 4.22%

INDIANA BELL TEL INC 126.40 7.30% 15/Aug/26 14.0027 4.78%

MERRILL LYNCH & CO INC 93.92 6.22% 15/Sep/26 14.0877 6.88%

BANC ONE CORP 125.83 7.63% 15/Oct/26 14.1699 5.12%

COCA COLA ENTERPRISES INC 137.27 6.95% 15/Nov/26 14.2548 3.69%

GOLDMAN SACHS GROUP INC 98.62 5.95% 15/Jan/27 14.4219 6.09%

ARCHER DANIELS MIDLAND CO 142.00 7.50% 15/Mar/27 14.5836 3.84%

GTE CALIF INC 119.00 6.75% 15/May/27 14.7507 4.97%

GTE CALIF INC 120.00 6.75% 15/May/27 14.7507 4.89%

AMERITECH CAP FUNDING CORP 124.00 6.88% 15/Oct/27 15.1699 4.71%

PUGET SOUND ENERGY INC SR MTN 128.00 7.02% 1/Dec/27 15.2986 4.54%

PUGET SOUND ENERGY INC 128.00 7.02% 1/Dec/27 15.2986 4.54%

DAYTON HUDSON CORP 131.00 6.75% 1/Jan/28 15.3836 4.10%

AMERITECH CAP FUNDING CORP 112.91 6.55% 15/Jan/28 15.4219 5.35%

CITIGROUP INC 111.00 6.63% 15/Jan/28 15.4219 5.58%

FLEET FINL GROUP INC NEW 100.25 6.88% 15/Jan/28 15.4219 6.85%

ROCKWELL AUTOMATION INC 141.21 6.70% 15/Jan/28 15.4219 3.37%

CUMMINS INC 128.50 7.13% 1/Mar/28 15.5479 4.61%

NORTHN STS PWR CO MINN 124.00 6.50% 1/Mar/28 15.5479 4.41%

NATIONSBANK CORP 102.08 6.80% 15/Mar/28 15.5863 6.59%

NEW YORK TEL CO 117.00 6.50% 15/Apr/28 15.6712 4.97%

OKLAHOMA GAS & ELEC CO 123.00 6.50% 15/Apr/28 15.6712 4.50%

CINCINNATI FINL CORP 109.27 6.92% 15/May/28 15.7534 6.02%

DOVER CORP 135.78 6.65% 1/Jun/28 15.8000 3.73%

GEORGIA PAC CORP 122.00 7.25% 1/Jun/28 15.8000 5.24%

CATERPILLAR INC DEL 137.09 6.63% 15/Jul/28 15.9205 3.63%

RIO TINTO FIN USA LTD 139.46 7.13% 15/Jul/28 15.9205 3.88%

DAYTON HUDSON CORP 133.85 6.65% 1/Aug/28 15.9671 3.87%

UNITED TECHNOLOGIES CORP 138.00 6.70% 1/Aug/28 15.9671 3.64%

BELL ATLANTIC-PENNSYLVANIA INC 114.00 6.00% 1/Dec/28 16.3014 4.79%

ISRAEL ST 129.63 7.25% 15/Dec/28 16.3397 4.70%

BAKER HUGHES INC 143.51 6.88% 15/Jan/29 16.4247 3.48%

CORNING INC 125.20 6.85% 1/Mar/29 16.5479 4.70%

PUGET SOUND ENERGY INC SR MTN 132.00 7.00% 9/Mar/29 16.5699 4.35%

AT&T CORP 120.54 6.50% 15/Mar/29 16.5863 4.75%

LOWES COS INC 125.13 6.50% 15/Mar/29 16.5863 4.41%

PHILLIPS PETE CO 141.24 7.00% 30/Mar/29 16.6274 3.74%

CONOCO INC 139.16 6.95% 15/Apr/29 16.6712 3.84%

ALLTEL CORP 130.85 6.80% 1/May/29 16.7151 4.27%

ARCHER DANIELS MIDLAND CO 133.05 6.63% 1/May/29 16.7151 3.98%

GOLDMAN SACHS GRP INC MTN BE 104.00 5.25% 15/Jun/29 16.8384 4.91%

ABBEY NATL PLC 93.00 7.95% 26/Oct/29 17.2027 8.73%

GEORGIA PAC CORP 131.56 7.75% 15/Nov/29 17.2575 5.06%

NEW JERSEY BELL TEL CO 133.00 7.85% 15/Nov/29 17.2575 5.04%

GE GLOBAL INS HLDG CORP 121.00 7.75% 15/Jun/30 17.8384 5.88%

GOLDMAN SACHS GRP INC MTN BE 101.50 5.00% 15/Nov/30 18.2575 4.88%

VERIZON GLOBAL FDG CORP 142.88 7.75% 1/Dec/30 18.3014 4.40%

AXA SA 110.50 8.60% 15/Dec/30 18.3397 7.55%

BELL TELEPHONE CO PA 138.00 8.35% 15/Dec/30 18.3397 5.19%

DAIMLER CHRYSLER NORTH AMER HL 145.44 8.50% 18/Jan/31 18.4329 4.83%

AT&T WIRELESS SVCS INC 155.23 8.75% 1/Mar/31 18.5479 4.45%

GEORGIA PAC CORP 146.29 8.88% 15/May/31 18.7534 5.10%

CHESAPEAKE & POTOMAC TEL CO MD 126.00 8.30% 1/Aug/31 18.9671 6.03%

BELLSOUTH CORP 126.71 6.88% 15/Oct/31 19.1726 4.78%

AT&T CORP 146.72 8.00% 15/Nov/31 19.2575 4.44%

GOLDMAN SACHS GRP INC MTN BE 102.78 5.35% 15/Nov/31 19.2575 5.13%

BURLINGTON RES FIN CO 148.71 7.40% 1/Dec/31 19.3014 3.88%

CINGULAR WIRELESS LLC 132.99 7.13% 15/Dec/31 19.3397 4.59%

DISNEY WALT CO MTNS BE 149.01 7.00% 1/Mar/32 19.5507 3.58%

VERIZON NEW YORK INC 126.06 7.38% 1/Apr/32 19.6356 5.27%

CITIGROUP INC 103.25 6.63% 15/Jun/32 19.8411 6.34%

VERIZON GLOBAL FDG CORP 145.87 7.75% 15/Jun/32 19.8411 4.35%

EMERSON ELEC CO 142.41 6.00% 15/Aug/32 20.0082 3.19%

ANHEUSER BUSCH COS INC 137.27 6.80% 20/Aug/32 20.0219 4.11%

DETROIT EDISON CO 123.00 6.35% 15/Oct/32 20.1753 4.62%

TARGET CORP 128.00 6.35% 1/Nov/32 20.2219 4.31%

HSBC HLDGS PLC 110.12 7.35% 27/Nov/32 20.2932 6.46%

GOLDMAN SACHS GRP INC MTN BE 104.00 5.25% 15/Dec/32 20.3425 4.94%

METLIFE INC 120.30 6.50% 15/Dec/32 20.3425 4.94%

ANHEUSER BUSCH COS INC 125.00 5.95% 15/Jan/33 20.4274 4.16%

SOUTH CAROLINA ELEC & GAS CO 123.00 5.80% 15/Jan/33 20.4274 4.15%

BOEING CO 129.21 6.13% 15/Feb/33 20.5123 4.06%

GOLDMAN SACHS GROUP INC 97.02 6.13% 15/Feb/33 20.5123 6.38%

CITIGROUP INC 94.25 5.88% 22/Feb/33 20.5315 6.37%

DOMINION RES INC VA NEW 127.00 6.30% 15/Mar/33 20.5890 4.34%

MICHIGAN CONS GAS CO 114.00 5.70% 15/Mar/33 20.5890 4.66%

TRAVELERS PPTY CAS CORP NEW 132.01 6.38% 15/Mar/33 20.5890 4.11%

WISCONSIN ENERGY CORP 130.00 6.20% 1/Apr/33 20.6356 4.08%

WISCONSIN ELEC PWR CO 121.94 5.63% 15/May/33 20.7562 4.08%

ALLSTATE CORP 107.00 5.35% 1/Jun/33 20.8027 4.82%

CINCINNATI GAS & ELEC CO 108.50 5.40% 15/Jun/33 20.8411 4.76%

CINCINNATI GAS & ELEC CO 113.79 5.38% 15/Jun/33 20.8411 4.38%

VERIZON MD INC 106.12 5.13% 15/Jun/33 20.8411 4.67%

PRUDENTIAL FINL INC MTNS BOOK 108.46 5.75% 15/Jul/33 20.9233 5.10%

ESTEE LAUDER COS INC 128.00 5.75% 15/Oct/33 21.1753 3.85%

CITIGROUP INC 94.97 6.00% 31/Oct/33 21.2192 6.43%

VALE OVERSEAS LTD 134.78 8.25% 17/Jan/34 21.4329 5.51%

CONSOLIDATED EDISON CO N Y INC 120.00 5.70% 1/Feb/34 21.4740 4.29%

GOLDMAN SACHS CAP I 90.75 6.35% 15/Feb/34 21.5123 7.18%

TRANSCANADA CORP 120.94 5.60% 31/Mar/34 21.6329 4.15%

ASSURED GTY US HLDGS INC 105.00 7.00% 1/Jun/34 21.8027 6.57%

BELLSOUTH CORP 121.55 6.55% 15/Jun/34 21.8411 4.95%

METLIFE INC 119.94 6.38% 15/Jun/34 21.8411 4.90%

SBC COMMUNICATIONS INC 121.25 6.45% 15/Jun/34 21.8411 4.88%

PACIFICORP 120.92 5.90% 15/Aug/34 22.0082 4.43%

SBC COMMUNICATIONS INC 119.52 6.15% 15/Sep/34 22.0932 4.74%

BARRICK GOLD CORP 111.98 5.80% 15/Nov/34 22.2603 4.92%

BELLSOUTH CORP 114.64 6.00% 15/Nov/34 22.2603 4.93%

CITIGROUP INC 104.28 5.85% 11/Dec/34 22.3315 5.52%

WELLPOINT INC 122.30 5.95% 15/Dec/34 22.3425 4.40%

LOEWS CORP 112.60 6.00% 1/Feb/35 22.4740 5.07%

BAC CAPITAL TRUST VI 85.50 5.63% 8/Mar/35 22.5699 6.88%

ALLSTATE CORP 119.15 5.55% 9/May/35 22.7397 4.25%

PUGET SOUND ENERGY INC 114.25 5.48% 1/Jun/35 22.8027 4.50%

DOMINION RES INC VA NEW 127.25 5.95% 15/Jun/35 22.8411 4.13%

METLIFE INC 112.20 5.70% 15/Jun/35 22.8411 4.83%

PACIFICORP 114.80 5.25% 15/Jun/35 22.8411 4.25%

MONSANTO CO NEW 124.00 5.50% 30/Jul/35 22.9644 3.93%

MONSANTO FIN CDA CO 118.31 5.50% 30/Jul/35 22.9644 4.26%

WACHOVIA CORP NEW 103.31 5.50% 1/Aug/35 22.9699 5.25%

VERIZON GLOBAL FDG CORP 122.76 5.85% 15/Sep/35 23.0932 4.31%

LOWES COS INC 112.00 5.50% 15/Oct/35 23.1753 4.66%

PLACER DOME INC 125.66 6.45% 15/Oct/35 23.1753 4.66%

MIDAMERICAN ENERGY CO 127.50 5.75% 1/Nov/35 23.2219 3.96%

WELLPOINT INC 122.91 5.85% 15/Jan/36 23.4274 4.31%

CONSOLIDATED EDISON CO N Y INC 135.61 5.85% 15/Mar/36 23.5918 3.63%

TRANSCANADA PIPELINES LTD 127.00 5.85% 15/Mar/36 23.5918 4.09%

UNITEDHEALTH GROUP INC 118.24 5.80% 15/Mar/36 23.5918 4.55%

PRUDENTIAL FINL INC MTNS BOOK 104.02 5.90% 17/Mar/36 23.5973 5.59%

ALLSTATE CORP 117.32 5.95% 1/Apr/36 23.6384 4.74%

GOLDMAN SACHS GROUP INC 93.88 6.45% 1/May/36 23.7205 6.98%

AT&T INC 128.46 6.80% 15/May/36 23.7589 4.81%

BURLINGTON NORTHN SANTA FE CP 140.00 7.29% 1/Jun/36 23.8055 4.56%

CANADIAN NATL RY CO 136.64 6.20% 1/Jun/36 23.8055 3.87%

CONNECTICUT LT & PWR CO 125.00 6.35% 1/Jun/36 23.8055 4.63%

AETNA INC NEW 130.99 6.63% 15/Jun/36 23.8438 4.52%

PUGET SOUND ENERGY INC 141.46 6.72% 15/Jun/36 23.8438 4.04%

ST PAUL TRAVELERS INC 134.00 6.75% 20/Jun/36 23.8575 4.46%

CINTAS CORP NO 2 121.00 6.15% 15/Aug/36 24.0110 4.70%

COCA COLA ENTERPRISES INC 139.00 6.70% 15/Oct/36 24.1781 4.17%

LOWES COS INC 114.38 5.80% 15/Oct/36 24.1781 4.80%

MIDAMERICAN ENERGY CO MTN BE 124.50 5.80% 15/Oct/36 24.1781 4.20%

BRISTOL MYERS SQUIBB CO 133.42 5.88% 15/Nov/36 24.2630 3.79%

WESTERN UN CO 125.43 6.20% 17/Nov/36 24.2685 4.50%

VALE OVERSEAS LTD 119.27 6.88% 21/Nov/36 24.2795 5.45%

WISCONSIN ELEC PWR CO 130.25 5.70% 1/Dec/36 24.3068 3.81%

PRUDENTIAL FINL INC MTNS BOOK 100.52 5.70% 14/Dec/36 24.3425 5.66%

PITNEY BOWES INC GLBL MTN 107.50 5.25% 15/Jan/37 24.4301 4.74%

MERRILL LYNCH & CO INC 88.39 6.11% 29/Jan/37 24.4685 7.11%

GOLDMAN SACHS GRP INC MTN BE 105.00 5.75% 15/Feb/37 24.5151 5.39%

VODAFONE GROUP PLC NEW 133.00 6.15% 27/Feb/37 24.5479 4.05%

PACIFIC GAS & ELEC CO 121.00 5.80% 1/Mar/37 24.5534 4.41%

NATIONSBANK CORP MTN SUB NT BE 108.00 6.98% 7/Mar/37 24.5699 6.34%

PUGET SOUND ENERGY INC 132.38 6.27% 15/Mar/37 24.5918 4.19%

CENTRAL HUDSON GAS & ELEC CORP 117.86 5.80% 23/Mar/37 24.6137 4.60%

VERIZON COMMUNICATIONS INC 127.71 6.25% 1/Apr/37 24.6384 4.42%

CHUBB CORP 123.62 6.00% 11/May/37 24.7479 4.44%

CITIGROUP INC 103.06 5.88% 29/May/37 24.7973 5.65%

TRAVELERS COMPANIES INC 130.81 6.25% 15/Jun/37 24.8438 4.26%

BURLINGTON NORTH SANTA FE MTN 130.52 6.53% 15/Jul/37 24.9260 4.51%

PPL ELEC UTILS CORP 142.00 6.45% 15/Aug/37 25.0110 3.86%

WISCONSIN PWR & LT CO 137.00 6.38% 15/Aug/37 25.0110 4.05%

AT&T INC 125.57 6.50% 1/Sep/37 25.0575 4.77%

ANHEUSER BUSCH COS INC 135.38 6.45% 1/Sep/37 25.0575 4.19%

LOWES COS INC 129.45 6.65% 15/Sep/37 25.0959 4.67%

GOLDMAN SACHS GROUP INC 96.57 6.75% 1/Oct/37 25.1397 7.04%

PACIFICORP 139.12 6.25% 15/Oct/37 25.1781 3.85%

NUCOR CORP 136.60 6.40% 1/Dec/37 25.3068 4.10%

AETNA INC NEW 129.03 6.75% 15/Dec/37 25.3452 4.79%

AT&T INC 122.72 6.30% 15/Jan/38 25.4301 4.77%

ARCHER DANIELS MIDLAND CO 136.58 6.45% 15/Jan/38 25.4301 4.14%

NORDSTROM INC 137.51 7.00% 15/Jan/38 25.4301 4.53%

BANK AMER CORP SUB INTNTS BE 90.99 6.05% 15/Feb/38 25.5151 6.79%

GOLDMAN SACHS GRP INC MTN BE 100.85 5.75% 15/Feb/38 25.5151 5.69%

VERIZON COMMUNICATIONS INC 126.21 6.40% 15/Feb/38 25.5151 4.66%

CITIGROUP INC 112.72 6.88% 5/Mar/38 25.5644 5.91%

KONINKLIJKE PHILIPS ELECTRS NV 134.75 6.88% 11/Mar/38 25.5808 4.59%

DUKE ENERGY CAROLINAS LLC 139.27 6.05% 15/Apr/38 25.6767 3.70%

ORACLE CORP 141.91 6.50% 15/Apr/38 25.6767 3.93%

VERIZON COMMUNICATIONS INC 134.36 6.90% 15/Apr/38 25.6767 4.63%

MERRILL LYNCH & CO INC 102.51 7.75% 14/May/38 25.7562 7.53%

AT&T INC 124.29 6.40% 15/May/38 25.7589 4.77%

ALLSTATE CORP 124.48 6.90% 15/May/38 25.7589 5.19%

CHUBB CORP 132.04 6.50% 15/May/38 25.7589 4.43%

GLAXOSMITHKLINE CAP INC 136.65 6.38% 15/May/38 25.7589 4.09%

PUBLIC SERVICE CO COLO 144.75 6.50% 1/Aug/38 25.9726 3.81%

DUKE ENERGY INDIANA INC 137.91 6.35% 15/Aug/38 26.0110 4.02%

BARRICK NORTH AMERICA FIN LLC 137.03 7.50% 15/Sep/38 26.0959 4.98%

CONOCOPHILLIPS 139.04 6.50% 1/Feb/39 26.4767 4.10%

VERIZON COMMUNICATIONS INC 164.60 8.95% 1/Mar/39 26.5534 4.71%

BOEING CO 147.19 6.88% 15/Mar/39 26.5918 4.01%

VERIZON COMMUNICATIONS INC 142.64 7.35% 1/Apr/39 26.6384 4.59%

ORACLE CORP 134.35 6.13% 8/Jul/39 26.9068 4.05%

CITIGROUP INC 124.46 8.13% 15/Jul/39 26.9260 6.25%

PUGET SOUND ENERGY INC 127.00 5.76% 1/Oct/39 27.1397 4.12%

JPMORGAN CHASE CAP XXVII 105.75 7.00% 1/Nov/39 27.2247 6.55%

VALE OVERSEAS LTD 121.59 6.88% 10/Nov/39 27.2493 5.37%

AFLAC INC 119.38 6.90% 17/Dec/39 27.3507 5.53%

CISCO SYS INC 125.10 5.50% 15/Jan/40 27.4301 4.00%

NSTAR ELEC CO 130.91 5.50% 15/Mar/40 27.5945 3.72%

BURLINGTON NORTHN SANTA FE CP 122.83 5.75% 1/May/40 27.7233 4.34%

LINCOLN NATL CORP IND 111.17 7.00% 15/Jun/40 27.8466 6.16%

PRUDENTIAL FINL INC MTNS BOOK 113.99 6.63% 21/Jun/40 27.8630 5.63%

AFLAC INC 109.44 6.45% 15/Aug/40 28.0137 5.77%

NORTHN STS PWR CO MINN 121.54 4.85% 15/Aug/40 28.0137 3.64%

GEORGIA PWR CO 116.00 4.75% 1/Sep/40 28.0603 3.83%

DELL INC 114.97 5.40% 10/Sep/40 28.0849 4.47%

OGLETHORPE PWR CORP 120.00 5.38% 1/Nov/40 28.2274 4.18%

TRAVELERS COMPANIES INC 118.25 5.35% 1/Nov/40 28.2274 4.25%

BECTON DICKINSON & CO 120.10 5.00% 12/Nov/40 28.2575 3.84%

PRUDENTIAL FINL INC MTNS BOOK 107.47 6.20% 15/Nov/40 28.2658 5.67%

GOLDMAN SACHS GROUP INC 100.14 6.25% 1/Feb/41 28.4795 6.24%

METLIFE INC 114.11 5.88% 6/Feb/41 28.4932 4.96%

BURLINGTON NORTHN SANTA FE CP 114.53 5.05% 1/Mar/41 28.5562 4.18%

ALABAMA PWR CO 131.84 5.50% 15/Mar/41 28.5945 3.71%

PRUDENTIAL FINL INC MTNS BOOK 98.88 5.63% 12/May/41 28.7534 5.70%

APPLIED MATLS INC 120.88 5.85% 15/Jun/41 28.8466 4.56%

GOLDMAN SACHS GRP INC MTN BE 103.30 5.75% 15/Jul/41 28.9288 5.52%

HEWLETT PACKARD CO 118.45 6.00% 15/Sep/41 29.0986 4.83%

VERIZON COMMUNICATIONS INC 106.63 4.75% 1/Nov/41 29.2274 4.35%

AMGEN INC 101.52 5.15% 15/Nov/41 29.2658 5.05%

ANHEUSER BUSCH COS INC 135.00 6.50% 1/May/42 29.7233 4.40%

CATERPILLAR INC DEL 151.00 6.95% 1/May/42 29.7233 4.03%

ANHEUSER BUSCH COS INC 138.85 6.50% 1/Feb/43 30.4795 4.24%

BOEING CO 142.90 6.88% 15/Oct/43 31.1808 4.37%

BELLSOUTH TELECOM 104.75 5.85% 15/Nov/45 33.2685 5.54%

BELLSOUTH TELECOM 123.96 7.00% 1/Dec/95 83.3452 5.64%

CITIGROUP INC 107.55 6.88% 15/Feb/98 85.5562 6.39%

CUMMINS INC 99.25 5.65% 1/Mar/98 85.5945 5.69%

TURITY FOR 1,005 A-RATED BONDS; ON AUGUST 17, 2012

AS A FUNCTION OF TIME TO MATURITY;

AT IS ITS COST OF BORROWING (COST OF DEBT) ?

ANSWER: