Jul kin* Data* lent SY10Y Implied vol seasonals (Change since Dec-31) ---1997 2014 2015 -2 -6 J n Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Secon Dane beast 2Y swap spread seasonals (Change since Jan-1) 8 6 4 2 0 -2 -4 -6 J n Feb Mar Apr May Jun Jul Aug Sep Oct NOV Dec -rm.-2005-2014 —199