nto, fawne• LP USEXTRY end TRY 31v1 implied yields 14.0 130 ! 120 110 100 90 eon- de 1 40 or 40 046 eff e e 3m Masa vi. Phs —360/TRY Ante Daises Sant 4.1 33 34 3./ 3.6 35 3.4 1 33 1 32 ..- - 91 USD/TRY implied and historical volatility 25 200 1$ 0 100 00 .50 .100 2010 2011