— demonstrating the curve `smoothness' we seek. (May. June 2011 no loss days for methodology system vs. S&P -3.18% in May, June) I Ewa Curve Lire Ecaray Cleve 1.10e 1 OS 107 II 09:35 • 0600 II 16:15/ 501103 60000 30030 20000 O 1003 ' .10CO3 100 200 303 900 SOO KO 700 103 900 1000 1100 1200