swap spread seasonals (Change since Jan-1) 8 -4 .....~2005-2014 1%7-2014 awe 2015 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Sent Dann an IS&P Index seasonals (Change since Dec-31) 8% 6% 4% 2% 0% -2% .4% 000.002005-2014 1997-2010 • .2015 Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun