Credit Crisis Indicators

Updated: As of Oct. 21, 2006

www.investmentbankeronlife.com

DISCLAIMER:

This presentation, to be embedded on my blog, is a Powerpoint remake of the interactive graphic prepared (and updated daily) by AMANDA COX and KEVIN QUEALY on

www.nytimes.com/interactive.

In the following slides are 5 credit market indicators as of Oct. 21, 2008, which capture the severity of the financial crisis better than stock

market indices could.

www.investmentbankeronlife.com

3-Month Treasury:

1.07%

-0.01

www.investmentbankeronlife.com

A lower yield indicates greater concern about the financial system.

Sources: Bloomberg; Federal Reserve

3-Month Libor:3.83%

-0.23Higher rates mean banks are less willing to lend money to one another.

Sources: Bloomberg; Federal Reserve

www.investmentbankeronlife.com

TED Spread:2.77%

-0.22

www.investmentbankeronlife.com

TED is the difference between TBills and 3-month Libor. Higher spreads indicate anxiety.

Sources: Bloomberg; Federal Reserve

High-Yield Bonds: 20.87%

-0.29Higher bond yields indicate less willingness to lend to businesses.

Sources: Bloomberg; Federal Reserve

www.investmentbankeronlife.com

Overnight Commercial Paper: 1.15%

-0.05

www.investmentbankeronlife.com

Higher rates have made it more difficult for businesses to obtain money for everyday expenses.

Sources: Bloomberg; Federal Reserve