Epstein Secrets

idders Indirect Bidders Cover Ratio Stop-out Yield lyr Avg $ 137 52.3% 48% 429% 415 0.070 Mar-16 $13.0 24.6% 0.0% 75.6% 4.34 0.086 Feb-15 $13.0 49.9% 1.9% 48.2% 4.28 0.084 Jan-16 $15.0 46.0% 6.0% 47.1% 3.72 0.084 Dec-14 $13.0 70.1% 6.2% 24.7% 2.90 0.110 Nov-I4 $13.

I bid. I2-year note auction statistics Size Oril Primary Dealers Direct Bidders Indirect Bidders Cover Stop-out 1PM WI FibliO Yield Bid BP Tail fy'Avg $29.0 48.4% 16.7% 349% 3.40 -0.2 Mar-15 $26.0 38.0% 18.3% 45.7% 3.48 0.698 0.599 -0.1 Feb-16 $26.0 38.6% 13.3% 48.2% 3.4

Dealers Bidders Bidders Ratio Yield Bid 1 yr Avg $360 336% 12.6% 537% 2.68 01 Mar-16 $36.0 39.6% 4.7% 66.7% 2.36 1.387 1.376 1.2 Feb-15 $35.0 32.4% 7.5% 60.1% 2.54 1.480 1.477 0.3 Jan- I 5 $35.0 27.4% 9.5% 63.1% 2.49 1.288 1.294 -0.6 Dec-14 $35.0 33.9% 7.3% 58.7%

.1bp. I7.•year note auction statistics Size (Sbr) Primary Dealers Direct Bidders Indirect Bidders Cover Ratio Stopout IPM WI Yield Bid BP Tail 1 yr Avg it 29.0 363% 16.6% 482% 2.61 0.4 Mar-16 $29.0 37.2% 12.3% 50.5% 2.32 1.792 1.781 1.1 Feb-16 $29.0 37.1% 10.5% 52.3% 2.3

idders Indirect Bidders Cover Ratio Stop-out Yield lyr Avg $ 137 52.3% 48% 429% 415 0.070 Mar-16 $13.0 24.6% 0.0% 75.6% 4.34 0.086 Feb-15 $13.0 49.9% 1.9% 48.2% 4.28 0.084 Jan-16 $15.0 46.0% 6.0% 47.1% 3.72 0.084 Dec-14 $13.0 70.1% 6.2% 24.7% 2.90 0.110 Nov-I4 $13.

I bid. I2-year note auction statistics Size Oril Primary Dealers Direct Bidders Indirect Bidders Cover Stop-out 1PM WI FibliO Yield Bid BP Tail fy'Avg $29.0 48.4% 16.7% 349% 3.40 -0.2 Mar-15 $26.0 38.0% 18.3% 45.7% 3.48 0.698 0.599 -0.1 Feb-16 $26.0 38.6% 13.3% 48.2% 3.4

Ratio Stop-out IPM WI BP Tail Yield Bid 1 yr Avg $360 336% 12.6% 537% 2.68 as Mar-16 $36.0 39.8% 4.7% 66.7% 2.36 1.387 1.376 1.2 Feb-15 $35.0 32.4% 7.5% 60.1% 2.54 1.480 1.477 0.3 Jan- I 5 $35.0 27.4% 9.6% 63.1% 2.49 1.288 1.294 -0.6 Dec-14 $35.0 33.9% 7.3% 68.7%

.1bp. I7.•year note auction statistics Size (Sbn) Primary Dealers Direct Bidders Indirect Bidders Cover Ratio Stopout IPM WI Yield Bid BP Tail 1 yr Avg it 29.0 38.3% 16.6% 482% 2.61 0.4 Mar-16 $29.0 37.2% 12.3% 60.6% 2.32 1.792 1.781 1.1 Feb-16 $29.0 37.1% 10.5% 52.3% 2.

2.72 2.237 2.256 -1.9 Apr-16 $ 21.0 32.2% 9.3% 68.6% 2.62 1.926 1.928 -0.3 Mar-16 $ 21.0 31.2% 10.2% 58.6% 2.66 2.139 2.147 -0.8 Feb-15 $ 24.0 27.8% 12.7% 59.5% 262. 2.000 2.011 -1.1 Jan-15 $ 21.0 40.8% 9.2% 50.0% 2.61 1.930 1.917 1.3 Dec-14 $ 21.0 39.3% 6.9% 53.8%

Weekly 10-year note auction statistics Size ($bn) Primary Dealers Direa Bidders Indirect Bidders Cover Ratio Stop.out 1PM WI Yield Bid BP Tail lyr Avg $ 22.0 34.0% MI% 549% 2.65 -a2 Aug-16 $ 24.0 34.0% 6.0% 60.1% 2A0 2.116 2.107 02 Jul-15 $ 21.0 29.8% 12.1% 58.1% 2.72 2.