100 199D 1991 1994 1996 1998 2000 1031 1034 1006 2008 1010 1012 - TOUT Spread — Defaults — Treasury Coupon Sowce: SWAMI and U135. 41 nl 19 5oretby 1012 UBS Chief Investment Office November 2012 4 EFTA_R1_02073874 EFTA02702207 UBS CIO WM Research is published by Wealth Management 8 Swiss Ba