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{"sheet":"Exhibit 1","index":1,"n_rows":45,"n_cols":10,"rows_kept":45,"cut":false,"hidden":true,"merged":[[3,7,3,8],[3,2,3,3]]}
[]
["HOW DEBT INCREASES RETURN (ROE)",null,null,null,null,null,"(Assumptions in green)"]
[]
[null,null,"Without Debt",null,null,null,null,"With Debt"]
["Year --------->",0,1,2,3,null,0,1,2,3]
["EBIT (10% of assets)",null,{"$f":"C16*C12","v":10},{"$f":"D16*D12","v":10},{"$f":"E16*E12","v":10},null,null,{"$f":"H16*H12","v":10},{"$f":"I16*I12","v":10},{"$f":"J16*J12","v":10}]
["Financial expenses (6% of debt)",null,{"$f":"6%*C13","v":0},{"$f":"6%*D13","v":0},{"$f":"6%*E13","v":0},null,null,{"$f":"6%*G13","v":3},{"$f":"6%*H13","v":3},{"$f":"6%*I13","v":3}]
["EBT, earnings before taxes",null,{"$f":"C6-C7","v":10},{"$f":"D6-D7","v":10},{"$f":"E6-E7","v":10},null,null,{"$f":"H6-H7","v":7},{"$f":"I6-I7","v":7},{"$f":"J6-J7","v":7}]
["Taxes (t= 30%)",null,{"$f":"0.3*C8","v":3},{"$f":"0.3*D8","v":3},{"$f":"0.3*E8","v":3},null,null,{"$f":"0.3*H8","v":2.1},{"$f":"0.3*I8","v":2.1},{"$f":"0.3*J8","v":2.1}]
["NI, Net Income",null,{"$f":"C8-C9","v":7},{"$f":"D8-D9","v":7},{"$f":"E8-E9","v":7},null,null,{"$f":"H8-H9","v":4.9000000000000004},{"$f":"I8-I9","v":4.9000000000000004},{"$f":"J8-J9","v":4.9000000000000004}]
[]
["Net assets (NA)",100,{"$f":"B12","v":100},100,100,null,100,{"$f":"G12","v":100},{"$f":"H12","v":100},{"$f":"I12","v":100}]
["Debt  (D)",0,0,0,{"$f":"D13","v":0},null,50,{"$f":"G13","v":50},{"$f":"H13","v":50},0]
["Equity  (E)",{"$f":"B12-B13","v":100},100,100,{"$f":"D14","v":100},null,{"$f":"G12-G13","v":50},{"$f":"G14","v":50},{"$f":"H14","v":50},{"$f":"I14","v":50}]
[]
["ROA (EBIT / net assets)",null,0.1,{"$f":"C16","v":0.1},{"$f":"D16","v":0.1},null,null,0.1,{"$f":"H16","v":0.1},{"$f":"I16","v":0.1}]
["ROE (NI / Equity previous year)",null,{"$f":"C10/B14","v":7.0000000000000007E-2},{"$f":"D10/C14","v":7.0000000000000007E-2},{"$f":"E10/D14","v":7.0000000000000007E-2},null,null,{"$f":"H10/G14","v":9.8000000000000004E-2},{"$f":"I10/H14","v":9.8000000000000004E-2},{"$f":"J10/I14","v":9.8000000000000004E-2}]
[]
["CASH FLOWS OF DEBT"]
[null,null,null,null,null,null,0,1,2,3]
["Interest payment and fees",null,null,null,null,null,-0.5,{"$f":"-H7","v":-3},{"$f":"-I7","v":-3},{"$f":"-J7","v":-3}]
["Principal",null,null,null,null,null,50,0,0,-50]
["CF debt (before taxes)",null,null,null,null,null,{"$f":"G21+G22","v":49.5},{"$f":"H21+H22","v":-3},{"$f":"I21+I22","v":-3},{"$f":"J21+J22","v":-53}]
["IRR of Debt or Cost of debt before taxes  =",null,null,{"$f":"IRR(G23:J23)","v":6.376720214970466E-2}]
[]
["AND HOW DEBT ALSO INCREASES RISK (Variability of ROE)"]
[]
[null,null,null,"Without Debt",null,null,null,null,"With Debt"]
["Year --------->",null,"Bad","Normal","Good",null,null,"Bad","Normal","Good"]
["EBIT ",null,5,10,15,null,null,5,10,15]
["Financial expenses (6% of debt)",null,0,0,0,null,null,3,3,3]
["EBT",null,5,10,15,null,null,2,7,12]
["Taxes (t= 30%)",null,{"$f":"0.3*C32","v":1.5},{"$f":"0.3*D32","v":3},{"$f":"0.3*E32","v":4.5},null,null,{"$f":"0.3*H32","v":0.6},{"$f":"0.3*I32","v":2.1},{"$f":"0.3*J32","v":3.5999999999999996}]
["Net Income",null,{"$f":"C32-C33","v":3.5},{"$f":"D32-D33","v":7},{"$f":"E32-E33","v":10.5},null,null,{"$f":"H32-H33","v":1.4},{"$f":"I32-I33","v":4.9000000000000004},{"$f":"J32-J33","v":8.4}]
[]
["Equity  (E)",null,100,100,100,null,null,50,50,50]
[]
["ROE  (Net Income / Equity)",null,{"$f":"C34/C36","v":3.5000000000000003E-2},{"$f":"D34/D36","v":7.0000000000000007E-2},{"$f":"E34/E36","v":0.105},null,null,{"$f":"H34/H36","v":2.7999999999999997E-2},{"$f":"I34/I36","v":9.8000000000000004E-2},{"$f":"J34/J36","v":0.16800000000000001}]
[]
["WACC CALCULATION"]
[]
["For year 1. ",null,null,"W","K",null,null,"W  x  K"]
["Debt (after taxes)",50,null,{"$f":"B43/B45","v":0.5},{"$f":"D24*(1-0.3)","v":4.4637041504793258E-2},null,null,{"$f":"D43*E43","v":2.2318520752396629E-2}]
["Equity",50,null,{"$f":"B44/B45","v":0.5},0.14000000000000001,null,null,{"$f":"D44*E44","v":7.0000000000000007E-2}]
["Total financing",{"$f":"B43+B44","v":100},null,{"$f":"D43+D44","v":1},null,null,null,{"$f":"H43+H44","v":9.2318520752396632E-2}]

{"sheet":"Exh 1","index":2,"n_rows":49,"n_cols":10,"rows_kept":49,"cut":false,"hidden":false,"merged":[[4,2,4,3],[4,7,4,8]]}
[null,null,null,"Exhibit 1 Example of Debt vs Equity"]
[]
["HOW DEBT INCREASES RETURN (ROE)",null,null,null,null,null,"(Assumptions in green)"]
[]
[null,null,"Without Debt",null,null,null,null,"With Debt"]
["Year --------->",0,1,2,3,null,0,1,2,3]
["EBIT (10% of assets)",null,{"$f":"C17*C13","v":10},{"$f":"D17*D13","v":10},{"$f":"E17*E13","v":10},null,null,{"$f":"H17*H13","v":10},{"$f":"I17*I13","v":10},{"$f":"J17*J13","v":10}]
["Financial expenses (6% of debt)",null,{"$f":"6%*C14","v":0},{"$f":"6%*D14","v":0},{"$f":"6%*E14","v":0},null,null,{"$f":"$H$19*G14","v":3},{"$f":"$H$19*H14","v":3},3]
["EBT, earnings before taxes",null,{"$f":"C7-C8","v":10},{"$f":"D7-D8","v":10},{"$f":"E7-E8","v":10},null,null,{"$f":"H7-H8","v":7},{"$f":"I7-I8","v":7},{"$f":"J7-J8","v":7}]
["Taxes (t= 30%)",null,{"$f":"0.3*C9","v":3},{"$f":"0.3*D9","v":3},{"$f":"0.3*E9","v":3},null,null,{"$f":"0.3*H9","v":2.1},{"$f":"0.3*I9","v":2.1},{"$f":"0.3*J9","v":2.1}]
["NI, Net Income",null,{"$f":"C9-C10","v":7},{"$f":"D9-D10","v":7},{"$f":"E9-E10","v":7},null,null,{"$f":"H9-H10","v":4.9000000000000004},{"$f":"I9-I10","v":4.9000000000000004},{"$f":"J9-J10","v":4.9000000000000004}]
[]
["Net assets (NA)",100,{"$f":"B13","v":100},100,100,null,100,{"$f":"G13","v":100},{"$f":"H13","v":100},{"$f":"I13","v":100}]
["Debt  (D)",0,0,0,{"$f":"D14","v":0},null,50,{"$f":"G14","v":50},{"$f":"H14","v":50},0]
["Equity  (E)",{"$f":"B13-B14","v":100},100,100,{"$f":"D15","v":100},null,{"$f":"G13-G14","v":50},{"$f":"G15","v":50},{"$f":"H15","v":50},{"$f":"I15","v":50}]
[]
["ROA (EBIT / net assets)",null,0.1,{"$f":"$C$17","v":0.1},{"$f":"$C$17","v":0.1},null,null,{"$f":"$C$17","v":0.1},{"$f":"$C$17","v":0.1},{"$f":"I17","v":0.1}]
["ROE (NI / Equity previous year)",null,{"$f":"C11/B15","v":7.0000000000000007E-2},{"$f":"D11/C15","v":7.0000000000000007E-2},{"$f":"E11/D15","v":7.0000000000000007E-2},null,null,{"$f":"H11/G15","v":9.8000000000000004E-2},{"$f":"I11/H15","v":9.8000000000000004E-2},{"$f":"J11/I15","v":9.8000000000000004E-2}]
["Interest rate",null,null,null,null,null,null,0.06]
[]
["CASH FLOWS OF DEBT",null,null,null,null,null,0,1,2,3]
["Interest payment and fees",null,null,null,null,null,-0.5,{"$f":"-H8","v":-3},{"$f":"-I8","v":-3},{"$f":"-J8","v":-3}]
["Principal",null,null,null,null,null,50,0,0,-50]
["CF debt (before taxes)",null,null,null,null,null,{"$f":"G22+G23","v":49.5},{"$f":"H22+H23","v":-3},{"$f":"I22+I23","v":-3},{"$f":"J22+J23","v":-53}]
["IRR of Debt or Cost of debt before taxes  =",null,null,{"$f":"IRR(G24:J24)","v":6.376720214970466E-2}]
[]
[]
["AND HOW DEBT ALSO INCREASES RISK (Variability of ROE)"]
[]
[null,null,null,"Without Debt",null,null,null,null,"With Debt"]
["Year --------->",null,"Bad","Normal","Good",null,null,"Bad","Normal","Good"]
["EBIT ",null,0,10,20,null,null,{"$f":"C32","v":0},{"$f":"D32","v":10},20]
["Financial expenses (6% of debt)",null,0,0,0,null,null,{"$f":"H8","v":3},{"$f":"I8","v":3},3]
["EBT",null,5,10,15,null,null,2,7,12]
["Taxes (t= 30%)",null,{"$f":"0.3*C34","v":1.5},{"$f":"0.3*D34","v":3},{"$f":"0.3*E34","v":4.5},null,null,{"$f":"0.3*H34","v":0.6},{"$f":"0.3*I34","v":2.1},{"$f":"0.3*J34","v":3.5999999999999996}]
["Net Income",null,{"$f":"C34-C35","v":3.5},{"$f":"D34-D35","v":7},{"$f":"E34-E35","v":10.5},null,null,{"$f":"H34-H35","v":1.4},{"$f":"I34-I35","v":4.9000000000000004},{"$f":"J34-J35","v":8.4}]
[]
["Equity  (E)",null,100,100,100,null,null,50,50,50]
[]
["ROE  (Net Income / Equity)",null,{"$f":"C36/C38","v":3.5000000000000003E-2},{"$f":"D36/D38","v":7.0000000000000007E-2},{"$f":"E36/E38","v":0.105},null,null,{"$f":"H36/H38","v":2.7999999999999997E-2},{"$f":"I36/I38","v":9.8000000000000004E-2},{"$f":"J36/J38","v":0.16800000000000001}]
[]
["WACC CALCULATION"]
[]
["For year 1. ",null,null,"W","Cost (K)",null,null,"W  x  K"]
["Debt (after taxes)",50,null,{"$f":"B45/B47","v":0.5},{"$f":"D25*(1-0.3)","v":4.4637041504793258E-2},null,null,{"$f":"D45*E45","v":2.2318520752396629E-2}]
["Equity",50,null,{"$f":"B46/B47","v":0.5},0.14000000000000001,null,null,{"$f":"D46*E46","v":7.0000000000000007E-2}]
["Debt + equity",{"$f":"B45+B46","v":100},null,{"$f":"D45+D46","v":1},null,null,null,{"$f":"H45+H46","v":9.2318520752396632E-2}]
[]
[null,null,null,null,null,null,null,null,null,"© E.M. Abascal 2023"]

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[null,null,null,"Anexo 1 Ejemplo de Deuda vs Capital"]
[]
["    COMO LA DEUDA AUMENTA LA RENTABILIDAD (el ROE)",null,null,null,null,null,"(Hipótesis en verde)"]
[]
[null,null,"Sin deuda",null,null,null,null,"Con deuda"]
["Año --------->",0,1,2,3,null,0,1,2,3]
["EBIT (10% del activo)",null,{"$f":"C17*C13","v":10},{"$f":"D17*D13","v":10},{"$f":"E17*E13","v":10},null,null,{"$f":"H17*H13","v":10},{"$f":"I17*I13","v":10},{"$f":"J17*J13","v":10}]
["Gastos financieros (6% de la deuda)",null,{"$f":"6%*C14","v":0},{"$f":"6%*D14","v":0},{"$f":"6%*E14","v":0},null,null,{"$f":"$H$19*G14","v":3},{"$f":"$H$19*H14","v":3},3]
["BAT, Beneficio antes de impuestos",null,{"$f":"C7-C8","v":10},{"$f":"D7-D8","v":10},{"$f":"E7-E8","v":10},null,null,{"$f":"H7-H8","v":7},{"$f":"I7-I8","v":7},{"$f":"J7-J8","v":7}]
["Impuestos (t = 30%)",null,{"$f":"0.3*C9","v":3},{"$f":"0.3*D9","v":3},{"$f":"0.3*E9","v":3},null,null,{"$f":"0.3*H9","v":2.1},{"$f":"0.3*I9","v":2.1},{"$f":"0.3*J9","v":2.1}]
["BN, Beneficio neto",null,{"$f":"C9-C10","v":7},{"$f":"D9-D10","v":7},{"$f":"E9-E10","v":7},null,null,{"$f":"H9-H10","v":4.9000000000000004},{"$f":"I9-I10","v":4.9000000000000004},{"$f":"J9-J10","v":4.9000000000000004}]
[]
["Activo neto (AN)",100,{"$f":"B13","v":100},100,100,null,100,{"$f":"G13","v":100},{"$f":"H13","v":100},{"$f":"I13","v":100}]
["Deuda (D)",0,0,0,{"$f":"D14","v":0},null,50,{"$f":"G14","v":50},{"$f":"H14","v":50},0]
["Equity (E) o Patrimonio",{"$f":"B13-B14","v":100},100,100,{"$f":"D15","v":100},null,{"$f":"G13-G14","v":50},{"$f":"G15","v":50},{"$f":"H15","v":50},{"$f":"I15","v":50}]
[]
["RONA (EBIT / AN)",null,0.1,{"$f":"$C$17","v":0.1},{"$f":"$C$17","v":0.1},null,null,{"$f":"$C$17","v":0.1},{"$f":"$C$17","v":0.1},{"$f":"I17","v":0.1}]
["ROE = BN / RP año anterior",null,{"$f":"C11/B15","v":7.0000000000000007E-2},{"$f":"D11/C15","v":7.0000000000000007E-2},{"$f":"E11/D15","v":7.0000000000000007E-2},null,null,{"$f":"H11/G15","v":9.8000000000000004E-2},{"$f":"I11/H15","v":9.8000000000000004E-2},{"$f":"J11/I15","v":9.8000000000000004E-2}]
["Tipo de interés",null,null,null,null,null,null,0.06]
[]
["CASH FLOWS DE LA DEUDA",null,null,null,null,null,0,1,2,3]
["Intereses y comisiones",null,null,null,null,null,-0.5,{"$f":"-H8","v":-3},{"$f":"-I8","v":-3},{"$f":"-J8","v":-3}]
["Principal",null,null,null,null,null,50,0,0,-50]
["CF de la Deuda  (antes de impuestos)",null,null,null,null,null,{"$f":"G22+G23","v":49.5},{"$f":"H22+H23","v":-3},{"$f":"I22+I23","v":-3},{"$f":"J22+J23","v":-53}]
["TIR de la Deuda, antes de impuestos  =",null,null,{"$f":"IRR(G24:J24)","v":6.376720214970466E-2}]
[]
[]
["Y COMO LA DEUDA AUMENTA TAMBIÉN EL RIESGO (la variabilidad de la ROE)"]
[]
[null,null,null,"Sin deuda",null,null,null,null,"Con deuda"]
["Año --------->",null,"Malo","Normal","Bueno",null,null,"Malo","Normal","Bueno"]
["EBIT (10% del activo)",null,0,10,20,null,null,{"$f":"C32","v":0},{"$f":"D32","v":10},20]
["Gastos financieros (6% de la deuda)",null,0,0,0,null,null,{"$f":"H8","v":3},{"$f":"I8","v":3},3]
["BAT, Beneficio antes de impuestos",null,5,10,15,null,null,2,7,12]
["Impuestos (t = 30%)",null,{"$f":"0.3*C34","v":1.5},{"$f":"0.3*D34","v":3},{"$f":"0.3*E34","v":4.5},null,null,{"$f":"0.3*H34","v":0.6},{"$f":"0.3*I34","v":2.1},{"$f":"0.3*J34","v":3.5999999999999996}]
["BN, Beneficio neto",null,{"$f":"C34-C35","v":3.5},{"$f":"D34-D35","v":7},{"$f":"E34-E35","v":10.5},null,null,{"$f":"H34-H35","v":1.4},{"$f":"I34-I35","v":4.9000000000000004},{"$f":"J34-J35","v":8.4}]
[]
["Equity o Capital (E)",null,100,100,100,null,null,50,50,50]
[]
["ROE  (Benef. / Capital)",null,{"$f":"C36/C38","v":3.5000000000000003E-2},{"$f":"D36/D38","v":7.0000000000000007E-2},{"$f":"E36/E38","v":0.105},null,null,{"$f":"H36/H38","v":2.7999999999999997E-2},{"$f":"I36/I38","v":9.8000000000000004E-2},{"$f":"J36/J38","v":0.16800000000000001}]
[]
["CALCULO DEL WACC"]
[]
["Cálculo para el año 1 y 2.",null,null,"W","Coste (K)",null,null,"W  x  K"]
["Deuda (desp de impuestos)",50,null,{"$f":"B45/B47","v":0.5},{"$f":"D25*(1-0.3)","v":4.4637041504793258E-2},null,null,{"$f":"D45*E45","v":2.2318520752396629E-2}]
["Capital o equity",50,null,{"$f":"B46/B47","v":0.5},0.14000000000000001,null,null,{"$f":"D46*E46","v":7.0000000000000007E-2}]
["Deuda + equity",{"$f":"B45+B46","v":100},null,{"$f":"D45+D46","v":1},null,null,null,{"$f":"H45+H46","v":9.2318520752396632E-2}]
[]
[null,null,null,null,null,null,null,null,null,"© E.M. Abascal 2023"]

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[null,null,null,"Anexo 1 Exemplo de Divida vs Capital"]
[]
["    COMO A DÍVIDA AUMENTA A RENTABILIDADE (ROE)",null,null,null,null,null,"(Hipóteses em negrito verde)"]
[]
[null,null,"       Sem dívida",null,null,null,null,"      Com dívida"]
["Ano --------->",0,1,2,3,null,0,1,2,3]
["EBIT (10% do ativo)",null,{"$f":"C17*C13","v":10},{"$f":"D17*D13","v":10},{"$f":"E17*E13","v":10},null,null,{"$f":"H17*H13","v":10},{"$f":"I17*I13","v":10},{"$f":"J17*J13","v":10}]
["Despesas financeiras (6% da dívida)",null,{"$f":"6%*C14","v":0},{"$f":"6%*D14","v":0},{"$f":"6%*E14","v":0},null,null,{"$f":"$H$19*G14","v":3},{"$f":"$H$19*H14","v":3},3]
["EBT, Lucro antes dos impostos",null,{"$f":"C7-C8","v":10},{"$f":"D7-D8","v":10},{"$f":"E7-E8","v":10},null,null,{"$f":"H7-H8","v":7},{"$f":"I7-I8","v":7},{"$f":"J7-J8","v":7}]
["Impostos (t = 30%)",null,{"$f":"0.3*C9","v":3},{"$f":"0.3*D9","v":3},{"$f":"0.3*E9","v":3},null,null,{"$f":"0.3*H9","v":2.1},{"$f":"0.3*I9","v":2.1},{"$f":"0.3*J9","v":2.1}]
["LL, Lucro líquido",null,{"$f":"C9-C10","v":7},{"$f":"D9-D10","v":7},{"$f":"E9-E10","v":7},null,null,{"$f":"H9-H10","v":4.9000000000000004},{"$f":"I9-I10","v":4.9000000000000004},{"$f":"J9-J10","v":4.9000000000000004}]
[]
["Ativo líquido (AL)",100,{"$f":"B13","v":100},100,100,null,100,{"$f":"G13","v":100},{"$f":"H13","v":100},{"$f":"I13","v":100}]
["Dívida (D)",0,0,0,{"$f":"D14","v":0},null,50,{"$f":"G14","v":50},{"$f":"H14","v":50},0]
["Recursos próprios (RP)",{"$f":"B13-B14","v":100},100,100,{"$f":"D15","v":100},null,{"$f":"G13-G14","v":50},{"$f":"G15","v":50},{"$f":"H15","v":50},{"$f":"I15","v":50}]
[]
["ROA (EBIT / AL)",null,0.1,{"$f":"$C$17","v":0.1},{"$f":"$C$17","v":0.1},null,null,{"$f":"$C$17","v":0.1},{"$f":"$C$17","v":0.1},{"$f":"I17","v":0.1}]
["ROE = LL / RP ano anterior",null,{"$f":"C11/B15","v":7.0000000000000007E-2},{"$f":"D11/C15","v":7.0000000000000007E-2},{"$f":"E11/D15","v":7.0000000000000007E-2},null,null,{"$f":"H11/G15","v":9.8000000000000004E-2},{"$f":"I11/H15","v":9.8000000000000004E-2},{"$f":"J11/I15","v":9.8000000000000004E-2}]
["Juros",null,null,null,null,null,null,0.06]
[]
["CASH FLOWS DA DÍVIDA",null,null,null,null,null,0,1,2,3]
["Juros e comissões",null,null,null,null,null,-0.5,{"$f":"-H8","v":-3},{"$f":"-I8","v":-3},{"$f":"-J8","v":-3}]
["Principal",null,null,null,null,null,50,0,0,-50]
["CF da Dívida  (antes de impostos)",null,null,null,null,null,{"$f":"G22+G23","v":49.5},{"$f":"H22+H23","v":-3},{"$f":"I22+I23","v":-3},{"$f":"J22+J23","v":-53}]
["TIR da dívida, antes de impostos  =",null,null,{"$f":"IRR(G24:J24)","v":6.376720214970466E-2}]
[]
[]
["E COMO A DÍVIDA AUMENTA TAMBÉM O RISCO (a variabilidade do ROE)"]
[]
[null,null,null,"   Sem dívida",null,null,null,null,"Com dívida"]
["Ano --------->",null,"Pior","Normal","Melhor",null,null,"Pior","Normal","Melhor"]
["EBIT (10% do ativo)",null,0,10,20,null,null,{"$f":"C32","v":0},{"$f":"D32","v":10},20]
["Despesas financeiras (6% de la deuda)",null,0,0,0,null,null,{"$f":"H8","v":3},{"$f":"I8","v":3},3]
["EBT, Lucro antes dos impostos",null,5,10,15,null,null,2,7,12]
["Impostos (t = 30%)",null,{"$f":"0.3*C34","v":1.5},{"$f":"0.3*D34","v":3},{"$f":"0.3*E34","v":4.5},null,null,{"$f":"0.3*H34","v":0.6},{"$f":"0.3*I34","v":2.1},{"$f":"0.3*J34","v":3.5999999999999996}]
["LL, Lucro líquido",null,{"$f":"C34-C35","v":3.5},{"$f":"D34-D35","v":7},{"$f":"E34-E35","v":10.5},null,null,{"$f":"H34-H35","v":1.4},{"$f":"I34-I35","v":4.9000000000000004},{"$f":"J34-J35","v":8.4}]
[]
["Equity ou Capital (E)",null,100,100,100,null,null,50,50,50]
[]
["ROE  (Lucro Líq. / Capital)",null,{"$f":"C36/C38","v":3.5000000000000003E-2},{"$f":"D36/D38","v":7.0000000000000007E-2},{"$f":"E36/E38","v":0.105},null,null,{"$f":"H36/H38","v":2.7999999999999997E-2},{"$f":"I36/I38","v":9.8000000000000004E-2},{"$f":"J36/J38","v":0.16800000000000001}]
[]
["CÁLCULO DO WACC"]
[]
["Cálculo para o ano 1 e 2",null,null,"W","Custo (K)",null,null,"W  x  K"]
["Dívida (depois de impostos)",50,null,{"$f":"B45/B47","v":0.5},{"$f":"D25*(1-0.3)","v":4.4637041504793258E-2},null,null,{"$f":"D45*E45","v":2.2318520752396629E-2}]
["Capital",50,null,{"$f":"B46/B47","v":0.5},0.14000000000000001,null,null,{"$f":"D46*E46","v":7.0000000000000007E-2}]
["Divida + Equity",{"$f":"B45+B46","v":100},null,{"$f":"D45+D46","v":1},null,null,null,{"$f":"H45+H46","v":9.2318520752396632E-2}]
[]
[null,null,null,null,null,null,null,null,null,"© E.M. Abascal 2023"]

{"sheet":"Questions","index":5,"n_rows":52,"n_cols":5,"rows_kept":52,"cut":false,"hidden":false,"merged":[]}
[null,"Chapter 9. Self-assessment questions"]
[null,"Answer the following questions. Write your answers in column C. T or F (true or false)."]
[null,"Check your answers by clicking on the 2 with box in the upper left corner; or in the cross with a box above column F."]
[null,"Column E will be displayed with the correct answer. If you have less than 30 points, it is recommended to review Chapter 1."]
[null,"Correct answer = 1 point. No response = 0 points. Wrong answer =",0]
[null,"© IESE. E.M. Abascal 2023. Version 26/9/23"]
[null,null,"Answer","Your","Correct"]
[null,"QUESTIONS","T or F","Points","Answer"]
[1,"The cost of debt (Kd) is the IRR of the cash flows produced by debt. T or F?",null,{"$f":"IF(C9=\"\",0,IF(C9=E9,1,$C$5))","v":0},"T"]
[{"$f":"A9+1","v":2},"The cost of debt is always equal to the interest payment divided by the principal of the debt. T or F?",null,{"$f":"IF(C10=\"\",0,IF(C10=E10,1,$C$5))","v":0},"F"]
[{"$f":"A10+1","v":3},"Debt always increases the ROE. T or F?",null,0,"F"]
[4,"Debt increases ROE only if Kd < RONA. T or F?",null,0,"T"]
[5,"The ROE comes from two sources: RONA and leverage. T or F?",null,0,"T"]
[6,"An increase in ROE due to debt always produces an increase in the value of the company. T or F?",null,0,"F"]
[7,"An increase in leverage decreases the risks of the company. T or F?",null,0,"F"]
[8,"In the long run the cost of equity is usually smaller than the cost of debt. T or F?",null,0,"F"]
[9,"One way to measure financial risk is the EBIT/financial expenses ratio. T or F?",null,0,"T"]
[10,"Companies with big operational risks are allowed to have more financial risks. T or F?",null,0,"F"]
[11,"Common sense rules that you may have leverage such that you can pay the interest and principal even in bad years. T or F?",null,0,"T"]
[12,"Business practice rules that you do not need to repay the debt because at maturity it will renewed by the bank. T or F?",null,0,"F"]
[13,"Common sense advises that you should ask for a loan only when you are in a position of extreme necessity, not before. T or F?",null,0,"F"]
[14,"You must always finance FA with long-term debt. T or F?",null,0,"F"]
[15,"You should set up the maturity of your loan so that you can repay the principal. T or F?",null,0,"T"]
[16,"If you want a ten-year loan, you will have to pay at least the prevailing interest rate on the ten-year government bond. T or F?",null,0,"T"]
[17,"You may borrow at variable or fixed rates. T or F?",null,0,"T"]
[18,"If you borrow in a foreign currency at a lower rate, you increase your return but you also increase your risk. T or F?",null,0,"T"]
[19,"It makes sense to borrow in a foreign currency if you have revenue in that currency. T or F?",null,0,"T"]
[20,"A corporate bond usually has a maturity of less than 18 months. T or F?",null,0,"F"]
[21,"Commercial paper usually has a maturity of less than 18 months. T or F?",null,0,"T"]
[22,"In the long run the cost of equity (Ke) is whatever return the shareholders require from the company in order to be happy and continue to hold their shares in the company. T or F?",null,0,"T"]
[23,"The historical ROE may give an indication of your cost of equity if you are not a listed company. T or F?",null,0,"F"]
[24,"The Ke is very similar in every industry and every country, because otherwise investors would move their money from oneindustry to another or from one country to another. T or F?",null,null,"F"]
[25,"The market return of the stock is always the best estimator of the Ke of a company. T or F?",null,0,"F"]
[26,"Market return and ROE are very similar. T or F?",null,0,"F"]
[27,"The market return of a stock is based solely on the performance of the company. T or F?",null,0,"F"]
[28,"The CAPM states that the risk premium of a stock is a function of the risk premium of the market. T or F?",null,0,"T"]
[29,"The risk premium is usually calculated as the market return minus the risk-free rate. T or F?",null,0,"T"]
[30,"Aggressive stocks have a beta smaller than 1. T or F?",null,0,"F"]
[31,"Usually, debt gives more flexibility than equity. T or F?",null,0,"F"]
[32,"Usually, debt brings more risk than equity T or F?",null,0,"T"]
[33,"Usually, debt is less costly than equity. T or F?",null,0,"T"]
[34,"It is prudent to borrow in the currency with the lowest rates. T or F?",null,0,"F"]
[35,"For all practical purposes you may assume that required return is the same as expected return and historical return. T or F?",null,0,"F"]
[36,"The current assets must always be financed with short-term debt and the FA with long-term debt.",null,0,"F"]
[37,"A long-term loan is always more expensive than a short-term loan, as it has more risk, due to the long term.",null,0,"F"]
[38,"A consumer loan is always more expensive than a mortgage because it has more risk",null,0,"T"]
[39,"If a company seeks financing, it is normal for it to increase capital",null,0,"F"]
[40,"It can be assumed that the cost of capital is the historical ROE that the company has had.",null,0,"F"]
[]
[]
[null,"TOTAL GRADE OBTAINED",null,{"$f":"SUM(D9:D48)","v":0}]
[null,"Highest possible rating",null,40]

{"sheet":"Preguntas","index":6,"n_rows":53,"n_cols":22,"rows_kept":53,"cut":false,"hidden":true,"merged":[]}
[null,"Cap 9. Prguntas de autoevaluación"]
[null,"Contesta el siguiente cuestionario. Escribe tus respuestas en la columna C. V o F (verdadero o falso)."]
[null,"Comprueba tus respuestas pinchando en el 2 con recuadro de la esquina superior izquierda; o en la cruz con recuadro encima de la columna F. ",null,null,null,null,1,"V",6,"F",11,"V",16,"V",21,"V",26,"F",31,"F",36,"F"]
[null,"Se desplegará la columna E con la respuesta correcta. Si tienes menos de 30 puntos se recomienda repasar el Cap 1. ",null,null,null,null,2,"F",7,"F",12,"F",17,"V",22,"V",27,"F",32,"V",37,"F"]
[null,"Respuesta correcta = 1 punto. No respuesta = 0 puntos. Respuesta incorrecta =",0,null,null,null,3,"F",8,"F",13,"F",18,"V",23,"F",28,"V",33,"V",38,"V"]
[null,"© IESE. E.M. Abascal 2023. Versión 26/9/23",null,null,null,null,4,"V",9,"V",14,"F",19,"V",24,"F",29,"V",34,"F",39,"F"]
[null,null,"Respuestas","Calificación ","Respuesta",null,5,"V",10,"F",15,"V",20,"F",25,"F",30,"F",35,"F",40,"F"]
[null,"PREGUNTAS","V o F","Obtenida","Correcta"]
[1,"El coste de la deuda (Kd) es la TIR de los flujos de caja producidos por la deuda.","V",{"$f":"IF(C9=\"\",0,IF(C9=E9,1,$C$5))","v":1},"V","T"]
[{"$f":"A9+1","v":2},"El coste de la deuda siempre es igual al pago de intereses dividido entre el principal de la deuda.","F",{"$f":"IF(C10=\"\",0,IF(C10=E10,1,$C$5))","v":1},"F","F"]
[{"$f":"A10+1","v":3},"La deuda siempre incrementa el ROE.","F",1,"F","F"]
[4,"La deuda incrementa el ROE sólo si Kd < RONA.","V",1,"V","T"]
[5,"El ROE proviene de dos fuentes, RONA y apalancamiento.","V",1,"V","T"]
[6,"Un incremento del ROE debido a la deuda siempre produce un aumento del valor de la compañía.","F",1,"F","F"]
[7,"Un aumento del apalancamiento disminuye el riesgo de la compañía.","F",1,"F","F"]
[8,"A la larga, el coste de los fondos propios es habitualmente inferior al coste de la deuda.","F",1,"F","F"]
[9,"Una manera de medir el riesgo financiero es el ratio EBIT/gastos financieros.","V",1,"V","T"]
[10,"A las compañías con un gran riesgo operativo se les permite un mayor riesgo financiero.","F",1,"F","F"]
[11,"El sentido común nos dice que deberíamos tener el apalancamiento que nos permita pagar los intereses y principal, incluso en años malos.","V",1,"V","T"]
[{"$f":"A19+1","v":12},"En la práctica puedes asumir que no es necesario devolver la deuda, porque a su vencimiento ésta será renovada por el banco; basta con pagar los intereses.","F",1,"F","F"]
[13,"El sentido común nos dice que hay que pedir un préstamo sólo en casos de extrema necesidad, y no antes.","F",1,"F","F"]
[14,"Siempre tienes que financiar el activo a largo plazo con deuda a largo plazo.","F",1,"F","F"]
[15,"Fija el vencimiento del préstamo de manera que puedas devolver el principal.","V",1,"V","T"]
[16,"Si quieres un préstamo a 10 años, tendrás que pagar al menos el tipo de interés de los bonos del gobierno a 10 años.","V",1,"V","T"]
[17,"Puedes pedir prestado a tipo fijo o variable.","V",1,"V","T"]
[18,"Si pides prestado en una moneda extranjera a menor tipo de interés, incrementarás tu rentabilidad pero aumentará tu riesgo.","V",1,"V","T"]
[19,"Tiene sentido pedir prestado en moneda extranjera si tienes ingresos en esa moneda.","V",1,"V","T"]
[20,"Un bono corporativo habitualmente tiene un vencimiento inferior a 18 meses.","F",1,"F","F"]
[21,"Los pagarés de empresa tienen un vencimiento inferior a 18 meses.","V",1,"V","T"]
[22,"A la larga, el coste de los fondos propios (Ke) es toda aquella rentabilidad que exija el accionista a la compañía para ser feliz y mantener las acciones de la compañía.","V",1,"V","T"]
[23,"El ROE histórico puede darnos una aproximación del coste de los fondos propios, en el caso de compañías no cotizadas.","F",1,"F","F"]
[24,"La Ke es muy similar en cada sector y en cada país, porque sino los inversores moverían su dinero de un sector a otro o de un país a otro.","F",1,"F","F"]
[25,"La rentabilidad de mercado de una acción es la mejor estimación del Ke de una compañía.","F",1,"F","F"]
[26,"La rentabilidad de mercado y el ROE son similares.","F",1,"F","F"]
[27,"La rentabilidad de mercado de una acción está basada únicamente en la evolución de la compañía.","F",1,"F","F"]
[28,"El CAPM dice que la prima de riesgo de una acción es una función de la prima de riesgo del mercado.","V",1,"V","T"]
[29,"La prima de riesgo se calcula habitualmente como la rentabilidad de mercado menos la tasa libre de riesgo.","V",1,"V","T"]
[30,"Las acciones agresivas tienen una beta inferior a 1.","F",1,"F","F"]
[31,"Habitualmente la deuda da más flexibilidad que los fondos propios.","F",1,"F","F"]
[32,"Habitualmente la deuda aporta más riesgo que los fondos propios.","V",1,"V","T"]
[33,"Habitualmente la deuda es más barata que los fondos propios.","V",1,"V","T"]
[34,"Es prudente el pedir prestado en la moneda con tipos de interés más bajos.","F",1,"F","F"]
[35,"Desde un punto de vista práctico, puedes asumir que rentabilidad requerida, histórica y esperada, son la misma cosa.","F",1,"F","F"]
[36,"El circulante hay que financiarlo siempre con deuda a corto y el AF con deuda a largo. ","F",1,"F","F"]
[37,"Un préstamo a largo plazo siempre es más caro que un prestamos a corto, ues tiene más riesgo, debido al largo plazo","F",1,"F","F"]
[38,"Un préstamo al consumo es siempre más caro que una hipoteca pues tiene más riesgo","V",1,"V","T"]
[39,"Si una compañía busca financiación lo normal es que amplie capital","F",1,"F","F"]
[40,"Se puede asumir que el coste del capital es el ROE histórico que ha tenido la empresa.","F",1,"F","F"]
[]
[]
[]
[null,"TOTAL CALIFICACION OBTENIDA",null,{"$f":"SUM(D9:D48)","v":40}]
[null,"Máxima calificación posible",null,40]

{"sheet":"Perguntas","index":7,"n_rows":53,"n_cols":26,"rows_kept":53,"cut":false,"hidden":true,"merged":[]}
[null,"Cap 9. Perguntas de autoavaliação"]
[null,"Responda ao seguinte questionário. Escreva suas respostas na coluna C. V ou F (verdadeiro ou falso)."]
[null,"Verifique suas respostas clicando no 2 com o quadro no canto superior esquerdo; ou na cruz com o quadro acima da coluna F.",null,null,null,null,null,null,null,null,1,"V",6,"F",11,"V",16,"V",21,"V",26,"F",31,"F",36,"F"]
[null,"A coluna E se abrirá com a resposta correta. Se você tiver menos de 30 pontos, é recomendável revisar o Capítulo 1.",null,null,null,null,null,null,null,null,2,"F",7,"F",12,"F",17,"V",22,"V",27,"F",32,"V",37,"F"]
[null,"Resposta correta = 1 ponto. Sem resposta = 0 pontos. Resposta incorreta =",0,null,null,null,null,null,null,null,3,"F",8,"F",13,"F",18,"V",23,"F",28,"V",33,"V",38,"V"]
[null,"© IESE. E.M. Abascal 2023. Versão 26/9/23",null,null,null,null,null,null,null,null,4,"V",9,"V",14,"F",19,"V",24,"F",29,"V",34,"F",39,"F"]
[null,null,"Respostas","Pontuação","Resposta",null,null,null,null,null,5,"V",10,"F",15,"V",20,"F",25,"F",30,"F",35,"F",40,"F"]
[null,"PERGUNTAS","V ou F","Obtida","Correta"]
[1,"O custo da dívida (Kd) é a TIR dos fluxos de caixa produzidos pela dívida.",null,{"$f":"IF(C9=\"\",0,IF(C9=E9,1,$C$5))","v":0},"V"]
[{"$f":"A9+1","v":2},"O custo da dívida é sempre igual ao pagamento de juros dividido pelo principal da dívida.",null,{"$f":"IF(C10=\"\",0,IF(C10=E10,1,$C$5))","v":0},"F"]
[{"$f":"A10+1","v":3},"A dívida sempre aumenta o ROE.",null,0,"F"]
[4,"A dívida aumenta o ROE apenas se Kd < RONA.",null,0,"V"]
[5,"O ROE provém de duas fontes, RONA e alavancagem.",null,0,"V"]
[6,"Um aumento do ROE devido à dívida sempre gera um aumento no valor da empresa.",null,0,"F"]
[7,"Um aumento da alavancagem diminui o risco da empresa.",null,0,"F"]
[8,"A longo prazo, o custo dos fundos próprios é habitualmente inferior ao custo da dívida.",null,0,"F"]
[9,"Uma maneira de medir o risco financeiro é a relação entre EBIT/despesas financeiras.",null,0,"V"]
[10,"As empresas com grande risco operacional são permitidas maior risco financeiro.",null,0,"F"]
[11,"O senso comum nos diz que devemos ter a alavancagem que nos permita pagar os juros e o principal, mesmo em anos ruins.",null,0,"V"]
[{"$f":"A19+1","v":12},"Na prática, pode-se presumir que não é necessário reembolsar a dívida, pois no vencimento ela será renovada pelo banco; basta pagar os juros.",null,0,"F"]
[13,"O senso comum nos diz que só devemos tomar um empréstimo em casos de extrema necessidade, e não antes.",null,0,"F"]
[14,"Sempre financie o ativo de longo prazo com dívida de longo prazo.",null,0,"F"]
[15,"Defina o vencimento do empréstimo de forma que você possa reembolsar o principal.",null,0,"V"]
[16,"Se você quiser um empréstimo de 10 anos, terá que pagar pelo menos a taxa de juros dos títulos do governo a 10 anos.",null,0,"V"]
[17,"Você pode pedir emprestado a uma taxa fixa ou variável.",null,0,"V"]
[18,"Se pedir emprestado em uma moeda estrangeira com uma taxa de juros mais baixa, aumentará sua rentabilidade, mas aumentará seu risco.",null,0,"V"]
[19,"Faz sentido pedir emprestado em moeda estrangeira se você tiver receitas nessa moeda.",null,0,"V"]
[20,"Um título corporativo geralmente tem um vencimento inferior a 18 meses.",null,0,"F"]
[21,"As notas promissórias das empresas têm um vencimento inferior a 18 meses.",null,0,"V"]
[22,"A longo prazo, o custo dos fundos próprios (Ke) é todo aquele retorno exigido pelo acionista para ser feliz e manter as ações da empresa.",null,0,"V"]
[23,"O ROE histórico pode nos dar uma aproximação do custo dos fundos próprios, no caso de empresas não listadas.",null,0,"F"]
[24,"O Ke é muito semelhante em cada setor e em cada país, porque, do contrário, os investidores moveriam seu dinheiro de um setor para outro ou de um país para outro.",null,0,"F"]
[25,"O retorno de mercado de uma ação é a melhor estimativa do Ke de uma empresa.",null,0,"F"]
[26,"O retorno de mercado e o ROE são semelhantes.",null,0,"F"]
[27,"O retorno de mercado de uma ação está baseado unicamente na evolução da empresa.",null,0,"F"]
[28,"O CAPM diz que o prêmio de risco de uma ação é uma função do prêmio de risco do mercado.",null,0,"V"]
[29,"O prêmio de risco geralmente é calculado como o retorno de mercado menos a taxa livre de risco.",null,0,"V"]
[30,"Ações agressivas têm um beta inferior a 1.",null,0,"F"]
[31,"Normalmente, a dívida proporciona mais flexibilidade do que os fundos próprios.",null,0,"F"]
[32,"Normalmente, a dívida implica mais risco do que os fundos próprios.",null,0,"V"]
[33,"Normalmente, a dívida é mais barata do que os fundos próprios.",null,0,"V"]
[34,"É prudente pedir emprestado na moeda com as taxas de juros mais baixas.",null,0,"F"]
[35,"Do ponto de vista prático, pode-se presumir que a rentabilidade exigida, histórica e esperada são a mesma coisa.",null,0,"F"]
[36,"O capital de giro deve ser sempre financiado com dívida de curto prazo e os ativos fixos com dívida de longo prazo.",null,0,"F"]
[37,"Um empréstimo de longo prazo é sempre mais caro que um empréstimo de curto prazo, pois tem mais risco, devido ao longo prazo.",null,0,"F"]
[38,"Um empréstimo ao consumo é sempre mais caro que uma hipoteca porque tem mais risco.",null,0,"V"]
[39,"Se uma empresa está buscando financiamento, o normal é que ela aumente seu capital.",null,0,"F"]
[40,"Pode-se presumir que o custo de capital é o ROE histórico que a empresa teve.",null,0,"F"]
[]
[]
[]
[null,"PONTUAÇÃO TOTAL OBTIDA",null,{"$f":"SUM(D9:D48)","v":0}]
[null,"Máxima Pontuação Possível",null,40]

{"sheet":"Rates","index":8,"n_rows":832,"n_cols":17,"rows_kept":832,"cut":false,"hidden":false,"merged":[]}
[null,"Central Banks",null,null,null,"Tbond 10 Y Yield"]
["Date","FED","ECB",null,"TB US","GERMANY","SPAIN"]
["1954-07-31",0.25]
["1954-08-31",1.44]
["1954-09-30",1.44]
["1954-10-31",1.1299999999999999]
["1954-11-30",1.38]
["1954-12-31",1.44]
["1955-01-31",1.44]
["1955-02-28",1.44]
["1955-03-31",1.44]
["1955-04-30",1.69]
["1955-05-31",1.69]
["1955-06-30",1.69]
["1955-07-31",1.75]
["1955-08-31",2]
["1955-09-30",2.19]
["1955-10-31",2.25]
["1955-11-30",2.44]
["1955-12-31",2.5]
["1956-01-31",2.5]
["1956-02-29",2.5]
["1956-03-31",2.5]
["1956-04-30",2.75]
["1956-05-31",2.75]
["1956-06-30",2.75]
["1956-07-31",2.69]
["1956-08-31",3]
["1956-09-30",3]
["1956-10-31",3]
["1956-11-30",3]
["1956-12-31",3]
["1957-01-31",3]
["1957-02-28",3]
["1957-03-31",2.94]
["1957-04-30",3]
["1957-05-31",3]
["1957-06-30",3]
["1957-07-31",2.88]
["1957-08-31",3.5]
["1957-09-30",3.5]
["1957-10-31",3.5]
["1957-11-30",3]
["1957-12-31",3]
["1958-01-31",1.5]
["1958-02-28",0.5]
["1958-03-31",0.5]
["1958-04-30",0.25]
["1958-05-31",0.13]
["1958-06-30",0.5]
["1958-07-31",0.38]
["1958-08-31",1.75]
["1958-09-30",1.5]
["1958-10-31",2]
["1958-11-30",2.5]
["1958-12-31",2.38]
["1959-01-31",2.5]
["1959-02-28",2.5]
["1959-03-31",3]
["1959-04-30",3]
["1959-05-31",3.25]
["1959-06-30",3]
["1959-07-31",3.5]
["1959-08-31",3.5]
["1959-09-30",3]
["1959-10-31",4]
["1959-11-30",4]
["1959-12-31",4]
["1960-01-31",4]
["1960-02-29",4]
["1960-03-31",4]
["1960-04-30",4]
["1960-05-31",3.5]
["1960-06-30",3.5]
["1960-07-31",3.25]
["1960-08-31",3]
["1960-09-30",3]
["1960-10-31",2.75]
["1960-11-30",0.25]
["1960-12-31",3]
["1961-01-31",2.25]
["1961-02-28",2]
["1961-03-31",2]
["1961-04-30",0.5]
["1961-05-31",1]
["1961-06-30",0.5]
["1961-07-31",2.5]
["1961-08-31",1.75]
["1961-09-30",1.5]
["1961-10-31",2]
["1961-11-30",1.75]
["1961-12-31",2.5]
["1962-01-31",1.5,null,null,4.12]
["1962-02-28",2.75,null,null,4]
["1962-03-31",2.75,null,null,3.9]
["1962-04-30",2.5,null,null,3.86]
["1962-05-31",2.75,null,null,3.89]
["1962-06-30",2.75,null,null,4]
["1962-07-31",2.75,null,null,4.0199999999999996]
["1962-08-31",3,null,null,3.96]
["1962-09-30",2.75,null,null,3.94]
["1962-10-31",3,null,null,3.92]
["1962-11-30",2.88,null,null,3.92]
["1962-12-31",3,null,null,3.84]
["1963-01-31",3,null,null,3.86]
["1963-02-28",3,null,null,3.94]
["1963-03-31",3,null,null,3.95]
["1963-04-30",3,null,null,3.95]
["1963-05-31",3,null,null,3.96]
["1963-06-30",3,null,null,4]
["1963-07-31",3.5,null,null,3.99]
["1963-08-31",3.5,null,null,4.01,null,"Avg 99-08"]
["1963-09-30",3.5,null,null,4.07,null,"Min"]
["1963-10-31",3.5,null,null,4.13,null,"Max"]
["1963-11-30",3.5,null,null,4.08]
["1963-12-31",3.25,null,null,4.1500000000000004,null,"Avg 99-08"]
["1964-01-31",3.5,null,null,4.17,null,"Min"]
["1964-02-29",3.5,null,null,4.18,null,"Max"]
["1964-03-31",3.5,null,null,4.25]
["1964-04-30",3.5,null,null,4.22]
["1964-05-31",3.5,null,null,4.1900000000000004]
["1964-06-30",3.5,null,null,4.1500000000000004]
["1964-07-31",3.5,null,null,4.2]
["1964-08-31",3.5,null,null,4.21]
["1964-09-30",2.75,null,null,4.18]
["1964-10-31",3.5,null,null,4.16]
["1964-11-30",4,null,null,4.1900000000000004]
["1964-12-31",4,null,null,4.1900000000000004]
["1965-01-31",4,null,null,4.1900000000000004]
["1965-02-28",4,null,null,4.22]
["1965-03-31",4,null,null,4.2]
["1965-04-30",4.13,null,null,4.21]
["1965-05-31",4.13,null,null,4.2300000000000004]
["1965-06-30",4.13,null,null,4.2]
["1965-07-31",4.13,null,null,4.21]
["1965-08-31",4,null,null,4.2699999999999996]
["1965-09-30",4.13,null,null,4.3600000000000003]
["1965-10-31",4.13,null,null,4.41]
["1965-11-30",4.13,null,null,4.46]
["1965-12-31",4.63,null,null,4.62]
["1966-01-31",4.5,null,null,4.6500000000000004]
["1966-02-28",4.63,null,null,5.0199999999999996]
["1966-03-31",4.75,null,null,4.8]
["1966-04-30",4.63,null,null,4.79]
["1966-05-31",4.75,null,null,4.8099999999999996]
["1966-06-30",5.5,null,null,4.9000000000000004]
["1966-07-31",5.75,null,null,5.05]
["1966-08-31",4.5,null,null,5.51]
["1966-09-30",5.75,null,null,4.99]
["1966-10-31",5.75,null,null,4.97]
["1966-11-30",5.75,null,null,5.15]
["1966-12-31",5,null,null,4.66]
["1967-01-31",4,null,null,4.47]
["1967-02-28",4.75,null,null,4.72]
["1967-03-31",4.5,null,null,4.5199999999999996]
["1967-04-30",4,null,null,4.78]
["1967-05-31",4.13,null,null,4.84]
["1967-06-30",3.5,null,null,5.2]
["1967-07-31",3.75,null,null,5.18]
["1967-08-31",4,null,null,5.27]
["1967-09-30",3.75,null,null,5.31]
["1967-10-31",4.13,null,null,5.57]
["1967-11-30",4.5,null,null,5.67]
["1967-12-31",4.5,null,null,5.7]
["1968-01-31",4.75,null,null,5.53]
["1968-02-29",4.75,null,null,5.56]
["1968-03-31",5.25,null,null,5.76]
["1968-04-30",6.25,null,null,5.73]
["1968-05-31",6.13,null,null,5.95]
["1968-06-30",5.5,null,null,5.64]
["1968-07-31",6,null,null,5.41]
["1968-08-31",5.75,null,null,5.43]
["1968-09-30",5.5,null,null,5.46]
["1968-10-31",6,null,null,5.62]
["1968-11-30",6,null,null,5.78]
["1968-12-31",4,null,null,6.2]
["1969-01-31",6.38,null,null,6.09]
["1969-02-28",7,null,null,6.26]
["1969-03-31",6.25,null,null,6.3]
["1969-04-30",8,null,null,6.21]
["1969-05-31",9.3800000000000008,null,null,6.56]
["1969-06-30",7.5,null,null,6.66]
["1969-07-31",8.75,null,null,6.72]
["1969-08-31",9.75,null,null,6.83]
["1969-09-30",8.5,null,null,7.45]
["1969-10-31",9,null,null,7]
["1969-11-30",9.25,null,null,7.29]
["1969-12-31",5,null,null,8.0500000000000007]
["1970-01-31",9.3800000000000008,null,null,7.77]
["1970-02-28",8.5,null,null,6.9]
["1970-03-31",7.5,null,null,6.98]
["1970-04-30",8.5,null,null,7.78]
["1970-05-31",7.88,null,null,7.95]
["1970-06-30",5.75,null,null,7.76]
["1970-07-31",6.75,null,null,7.39]
["1970-08-31",6.5,null,null,7.49]
["1970-09-30",5,null,null,7.3]
["1970-10-31",6.13,null,null,7.31]
["1970-11-30",5.5,null,null,6.48]
["1970-12-31",3,null,null,6.56]
["1971-01-31",4,null,null,6.09]
["1971-02-28",3.38,null,null,6.14]
["1971-03-31",4.5,null,null,5.54]
["1971-04-30",4.25,null,null,6.07]
["1971-05-31",4.88,null,null,6.38]
["1971-06-30",4.75,null,null,6.67]
["1971-07-31",5.5,null,null,6.88]
["1971-08-31",5.75,null,null,6.33]
["1971-09-30",5.38,null,null,6.08]
["1971-10-31",5.13,null,null,5.87]
["1971-11-30",4.25,null,null,5.95]
["1971-12-31",3,null,null,5.9]
["1972-01-31",3.13,null,null,6.08]
["1972-02-29",3.25,null,null,6.04]
["1972-03-31",4,null,null,6.12]
["1972-04-30",4.3099999999999996,null,null,6.14]
["1972-05-31",4.75,null,null,6.04]
["1972-06-30",4.5,null,null,6.14]
["1972-07-31",4.5,null,null,6.12]
["1972-08-31",5.13,null,null,6.34]
["1972-09-30",4.88,null,null,6.54]
["1972-10-31",4.88,null,null,6.42]
["1972-11-30",5.19,null,null,6.27]
["1972-12-31",5.5,null,null,6.41]
["1973-01-31",6.5,null,null,6.55]
["1973-02-28",7.5,null,null,6.64]
["1973-03-31",7.38,null,null,6.68]
["1973-04-30",7.63,null,null,6.69]
["1973-05-31",8.1300000000000008,null,null,6.93]
["1973-06-30",8.8800000000000008,null,null,6.94]
["1973-07-31",11.22,null,null,7.35]
["1973-08-31",11.22,null,null,7.26]
["1973-09-30",10.82,null,null,6.9]
["1973-10-31",10.61,null,null,6.72]
["1973-11-30",10.34,null,null,6.7]
["1973-12-31",9.83,null,null,6.91]
["1974-01-31",9.31,null,null,7.02]
["1974-02-28",8.8699999999999992,null,null,7.01]
["1974-03-31",9.9499999999999993,null,null,7.41]
["1974-04-30",11,null,null,7.65]
["1974-05-31",11.64,null,null,7.52]
["1974-06-30",13.31,null,null,7.64]
["1974-07-31",12.06,null,null,7.85]
["1974-08-31",11.6,null,null,8.15]
["1974-09-30",11.11,null,null,7.94]
["1974-10-31",9.66,null,null,7.84]
["1974-11-30",9.4700000000000006,null,null,7.64]
["1974-12-31",3.87,null,null,7.39]
["1975-01-31",6.76,null,null,7.59]
["1975-02-28",6.07,null,null,7.46]
["1975-03-31",5.39,null,null,8.08]
["1975-04-30",7.03,null,null,8.34]
["1975-05-31",5.23,null,null,8.18]
["1975-06-30",5.97,null,null,7.95]
["1975-07-31",6.23,null,null,8.1300000000000008]
["1975-08-31",6.13,null,null,8.2200000000000006]
["1975-09-30",6.22,null,null,8.4600000000000009]
["1975-10-31",5.65,null,null,7.98]
["1975-11-30",5.29,null,null,8.14]
["1975-12-31",5.37,null,null,7.75]
["1976-01-31",4.84,null,null,7.82]
["1976-02-29",4.8899999999999997,null,null,7.77]
["1976-03-31",5.07,null,null,7.64]
["1976-04-30",5.0999999999999996,null,null,7.61]
["1976-05-31",5.67,null,null,7.96]
["1976-06-30",5.71,null,null,7.86]
["1976-07-31",5.32,null,null,7.85]
["1976-08-31",5.31,null,null,7.72]
["1976-09-30",5.31,null,null,7.56]
["1976-10-31",5.0199999999999996,null,null,7.42]
["1976-11-30",4.6900000000000004,null,null,7.02]
["1976-12-31",4.17,null,null,6.84]
["1977-01-31",4.6500000000000004,null,null,7.4]
["1977-02-28",4.7300000000000004,null,null,7.45]
["1977-03-31",4.72,null,null,7.47]
["1977-04-30",5.12,null,null,7.45]
["1977-05-31",5.47,null,null,7.38]
["1977-06-30",5.64,null,null,7.19]
["1977-07-31",5.86,null,null,7.42]
["1977-08-31",6.03,null,null,7.25]
["1977-09-30",6.46,null,null,7.39]
["1977-10-31",6.6,null,null,7.56]
["1977-11-30",6.56,null,null,7.55]
["1977-12-31",6.53,null,null,7.82]
["1978-01-31",6.79,null,null,7.97]
["1978-02-28",6.83,null,null,8.0399999999999991]
["1978-03-31",6.97,null,null,8.11]
["1978-04-30",7.25,null,null,8.24]
["1978-05-31",7.43,null,null,8.42]
["1978-06-30",8.01,null,null,8.57]
["1978-07-31",8,null,null,8.5500000000000007]
["1978-08-31",8.4,null,null,8.3699999999999992]
["1978-09-30",8.9,null,null,8.56]
["1978-10-31",9.35,null,null,8.7799999999999994]
["1978-11-30",9.94,null,null,8.86]
["1978-12-31",10.84,null,null,9.15]
["1979-01-31",10.57,null,null,8.9600000000000009]
["1979-02-28",10.24,null,null,9.17]
["1979-03-31",10.07,null,null,9.06]
["1979-04-30",10.43,null,null,9.32]
["1979-05-31",10.31,null,null,9.01]
["1979-06-30",10.54,null,null,8.81]
["1979-07-31",10.81,null,null,9.02]
["1979-08-31",11.29,null,null,9.14]
["1979-09-30",12.16,null,null,9.44]
["1979-10-31",14.82,null,null,10.78]
["1979-11-30",13.96,null,null,10.34]
["1979-12-31",14.77,null,null,10.41]
["1980-01-31",13.4,null,null,11.21]
["1980-02-29",16.329999999999998,null,null,12.72]
["1980-03-31",19.850000000000001,null,null,12.72]
["1980-04-30",14.64,null,null,10.67]
["1980-05-31",11.06,null,null,10.24]
["1980-06-30",10.44,null,null,10.039999999999999]
["1980-07-31",9.93,null,null,10.45]
["1980-08-31",10.74,null,null,11.55]
["1980-09-30",13.19,null,null,12.07]
["1980-10-31",13.77,null,null,12.48]
["1980-11-30",18.559999999999999,null,null,12.72]
["1980-12-31",22,null,null,12.2]
["1981-01-31",17.25,null,null,12.8]
["1981-02-28",15.53,null,null,13.43]
["1981-03-31",14.63,null,null,13.36]
["1981-04-30",18.920000000000002,null,null,14.05]
["1981-05-31",17.559999999999999,null,null,13.5]
["1981-06-30",18.64,null,null,13.68]
["1981-07-31",17.46,null,null,14.61]
["1981-08-31",16.829999999999998,null,null,15.25]
["1981-09-30",16.579999999999998,null,null,15.76]
["1981-10-31",14.44,null,null,15.06]
["1981-11-30",12.44,null,null,12.92]
["1981-12-31",13.13,null,null,14.12]
["1982-01-31",14.21,null,null,14.14]
["1982-02-28",13.74,null,null,14.03]
["1982-03-31",16.8,null,null,14.16]
["1982-04-30",15.28,null,null,13.87]
["1982-05-31",13.38,null,null,13.71]
["1982-06-30",14.58,null,null,14.61]
["1982-07-31",11.41,null,null,13.83]
["1982-08-31",10.63,null,null,12.77]
["1982-09-30",12.17,null,null,11.8]
["1982-10-31",9.41,null,null,10.71]
["1982-11-30",8.93,null,null,10.78]
["1982-12-31",11.2,null,null,10.47]
["1983-01-31",8.56,null,null,10.71]
["1983-02-28",8.5299999999999994,null,null,10.27]
["1983-03-31",10.81,null,null,10.6]
["1983-04-30",8.84,null,null,10.27]
["1983-05-31",8.94,null,null,10.62]
["1983-06-30",10.06,null,null,10.99]
["1983-07-31",9.52,null,null,11.76]
["1983-08-31",9.59,null,null,11.86]
["1983-09-30",10.59,null,null,11.5]
["1983-10-31",9.43,null,null,11.68]
["1983-11-30",9.34,null,null,11.58]
["1983-12-31",9.92,null,null,11.79]
["1984-01-31",9.35,null,null,11.63]
["1984-02-29",9.4499999999999993,null,null,12.04]
["1984-03-31",10.24,null,null,12.41]
["1984-04-30",10.9,null,null,12.79]
["1984-05-31",10.81,null,null,13.89]
["1984-06-30",10.85,null,null,13.84]
["1984-07-31",11.83,null,null,12.95]
["1984-08-31",11.64,null,null,12.83]
["1984-09-30",11.23,null,null,12.47]
["1984-10-31",9.99,null,null,11.95]
["1984-11-30",8.92,null,null,11.42]
["1984-12-31",8.74,null,null,11.46]
["1985-01-31",8.73,null,null,11.11]
["1985-02-28",8.74,null,null,11.91]
["1985-03-31",8.58,null,null,11.65]
["1985-04-30",8.58,null,null,11.47]
["1985-05-31",7.64,null,null,10.46]
["1985-06-30",7.95,null,null,10.25]
["1985-07-31",8.61,null,null,10.67]
["1985-08-31",7.8,null,null,10.119999999999999]
["1985-09-30",8.84,null,null,10.220000000000001]
["1985-10-31",8.08,null,null,10.11]
["1985-11-30",8.5399999999999991,null,null,9.59]
["1985-12-31",7.75,null,null,8.99]
["1986-01-31",7.75,null,null,9.09]
["1986-02-28",7.75,null,null,8.1300000000000008]
["1986-03-31",7.25,null,null,7.49]
["1986-04-30",6.75,null,null,7.38]
["1986-05-31",6.8125,null,null,7.99]
["1986-06-30",6.875,null,null,7.38]
["1986-07-31",6.375,null,null,7.41]
["1986-08-31",5.875,null,null,6.95]
["1986-09-30",5.875,null,null,7.54]
["1986-10-31",5.875,null,null,7.41]
["1986-11-30",5.875,null,null,7.15]
["1986-12-31",5.875,null,null,7.17]
["1987-01-31",6,null,null,7.13]
["1987-02-28",6,null,null,7.19]
["1987-03-31",6,null,null,7.33]
["1987-04-30",6.5,null,null,8.35]
["1987-05-31",6.75,null,null,8.49]
["1987-06-30",6.75,null,null,8.34]
["1987-07-31",6.625,null,null,8.61]
["1987-08-31",6.75,null,null,9.0090000000000003]
["1987-09-30",7.3125,null,null,9.6319999999999997]
["1987-10-31",7.3125,null,null,8.9130000000000003]
["1987-11-30",6.8125,null,null,9.077]
["1987-12-31",6.8125,null,null,8.8580000000000005]
["1988-01-31",6.625,null,null,8.2720000000000002]
["1988-02-29",6.5,null,null,8.1519999999999992]
["1988-03-31",6.75,null,null,8.5449999999999999]
["1988-04-30",6.75,null,null,8.8670000000000009]
["1988-05-31",7.25,null,null,9.2420000000000009]
["1988-06-30",7.4375,null,null,8.8719999999999999]
["1988-07-31",7.6875,null,null,9.1189999999999998]
["1988-08-31",8.125,null,null,9.3030000000000008]
["1988-09-30",8.125,null,null,8.9809999999999999]
["1988-10-31",8.125,null,null,8.6839999999999993]
["1988-11-30",8.375,null,null,9.1359999999999992]
["1988-12-31",8.6875,null,null,9.1850000000000005]
["1989-01-31",9,null,null,8.9589999999999996]
["1989-02-28",9.75,null,null,9.3230000000000004]
["1989-03-31",9.75,null,null,9.3640000000000008]
["1989-04-30",9.75,null,null,9.0180000000000007]
["1989-05-31",9.8125,null,null,8.6539999999999999]
["1989-06-30",9.5625,null,null,8.1140000000000008]
["1989-07-31",9.0625,null,null,7.8570000000000002]
["1989-08-31",9.0625,null,null,8.2650000000000006]
["1989-09-30",9.0625,null,null,8.3030000000000008]
["1989-10-31",8.75,null,null,7.9370000000000003]
["1989-11-30",8.5,null,null,7.8739999999999997]
["1989-12-31",8.25,null,null,7.9329999999999998]
["1990-01-31",8.25,null,null,8.516]
["1990-02-28",8.25,null,null,8.5269999999999992]
["1990-03-31",8.25,null,null,8.6210000000000004]
["1990-04-30",8.25,null,null,9.0730000000000004]
["1990-05-31",8.25,null,null,8.6419999999999995]
["1990-06-30",8.25,null,null,8.423]
["1990-07-31",8,null,null,8.4250000000000007]
["1990-08-31",8,null,null,8.8089999999999993]
["1990-09-30",8,null,null,8.81]
["1990-10-31",7.75,null,null,8.6989999999999998]
["1990-11-30",7.5,null,null,8.3450000000000006]
["1990-12-31",7,null,null,8.1270000000000007]
["1991-01-31",6.75,null,null,8.0389999999999997]
["1991-02-28",6.25,null,null,8.0449999999999999]
["1991-03-31",6,null,null,8.0640000000000001]
["1991-04-30",5.75,null,null,8.07]
["1991-05-31",5.75,null,null,8.0690000000000008]
["1991-06-30",5.75,null,null,8.2319999999999993]
["1991-07-31",5.75,null,null,8.1950000000000003]
["1991-08-31",5.5,null,null,7.742]
["1991-09-30",5.25,null,null,7.4880000000000004]
["1991-10-31",5,null,null,7.4939999999999998]
["1991-11-30",4.75,null,null,7.3739999999999997]
["1991-12-31",4,null,null,6.819]
["1992-01-31",4,null,null,7.2409999999999997]
["1992-02-29",4,null,null,7.2519999999999998]
["1992-03-31",4,null,null,7.5209999999999999]
["1992-04-30",3.75,null,null,7.5839999999999996]
["1992-05-31",3.75,null,null,7.3220000000000001]
["1992-06-30",3.75,null,null,7.1059999999999999]
["1992-07-31",3.25,null,null,6.6159999999999997]
["1992-08-31",3.25,null,null,6.6260000000000003]
["1992-09-30",3,null,null,6.3650000000000002,7.4720000000000004,13.51]
["1992-10-31",3,null,null,6.6719999999999997,7.3520000000000003,12.464]
["1992-11-30",3,null,null,6.9139999999999997,7.3550000000000004,12.728]
["1992-12-31",3,null,null,6.64,7.1980000000000004,12.516]
["1993-01-31",3,null,null,6.3609999999999998,7.069,11.86]
["1993-02-28",3,null,null,6.0140000000000002,6.71,11.67]
["1993-03-31",3,null,null,6.0369999999999999,6.673,11.38]
["1993-04-30",3,null,null,5.9630000000000001,6.7910000000000004,11.65]
["1993-05-31",3,null,null,6.11,6.9,10.968999999999999]
["1993-06-30",3,null,null,5.766,6.617,10.167]
["1993-07-31",3,null,null,5.7869999999999999,6.5469999999999997,10.005000000000001]
["1993-08-31",3,null,null,5.4779999999999998,6.1749999999999998,8.8829999999999991]
["1993-09-30",3,null,null,5.3460000000000001,6.0970000000000004,9.0640000000000001]
["1993-10-31",3,null,null,5.42,5.891,8.4239999999999995]
["1993-11-30",3,null,null,5.74,5.8780000000000001,8.5609999999999999]
["1993-12-31",3,null,null,5.694,5.532,8.0090000000000003]
["1994-01-31",3,null,null,5.6340000000000003,5.694,7.75]
["1994-02-28",3.25,null,null,6.133,6.1059999999999999,8.6300000000000008]
["1994-03-31",3.5,null,null,6.71,6.3280000000000003,9.0500000000000007]
["1994-04-30",3.75,null,null,7.04,6.5510000000000002,9.19]
["1994-05-31",4.25,null,null,7.1139999999999999,6.952,9.84]
["1994-06-30",4.25,null,null,7.23,7.0819999999999999,10.51]
["1994-07-31",4.25,null,null,7.1020000000000003,6.8230000000000004,10.41]
["1994-08-31",4.75,null,null,7.2359999999999998,7.2249999999999996,10.97]
["1994-09-30",4.75,null,null,7.62,7.5979999999999999,11.138999999999999]
["1994-10-31",4.75,null,null,7.7949999999999999,7.6319999999999997,11.116]
["1994-11-30",5.5,null,null,7.9320000000000004,7.319,11.132999999999999]
["1994-12-31",5.5,null,null,7.7969999999999997,7.6210000000000004,11.779]
["1995-01-31",5.5,null,null,7.6159999999999997,7.4379999999999997,11.738]
["1995-02-28",6,null,null,7.2060000000000004,7.3620000000000001,11.760999999999999]
["1995-03-31",6,null,null,7.1280000000000001,7.1890000000000001,12.272]
["1995-04-30",6,null,null,7.0529999999999999,7.0389999999999997,11.997]
["1995-05-31",6,null,null,6.24,6.6470000000000002,11.583]
["1995-06-30",6,null,null,6.2460000000000004,6.94,11.786]
["1995-07-31",5.75,null,null,6.4610000000000003,6.7850000000000001,11.247]
["1995-08-31",5.75,null,null,6.3540000000000001,6.7149999999999999,11.07]
["1995-09-30",5.75,null,null,6.165,6.6029999999999998,10.932]
["1995-10-31",5.75,null,null,6.0369999999999999,6.44,10.85]
["1995-11-30",5.75,null,null,5.8289999999999997,6.1689999999999996,10.298999999999999]
["1995-12-31",5.5,null,null,5.5739999999999998,6.0309999999999997,9.7360000000000007]
["1996-01-31",5.25,null,null,5.6779999999999999,5.8959999999999999,9.5679999999999996]
["1996-02-29",5.25,null,null,6.1029999999999998,6.3879999999999999,9.6539999999999999]
["1996-03-31",5.25,null,null,6.3230000000000004,6.4379999999999997,9.7309999999999999]
["1996-04-30",5.25,null,null,6.5830000000000002,6.3390000000000004,9.1359999999999992]
["1996-05-31",5.25,null,null,6.77,6.4960000000000004,9.1959999999999997]
["1996-06-30",5.25,null,null,6.7140000000000004,6.5049999999999999,8.8209999999999997]
["1996-07-31",5.25,null,null,6.9160000000000004,6.3730000000000002,8.9060000000000006]
["1996-08-31",5.25,null,null,6.8040000000000003,6.3860000000000001,8.8480000000000008]
["1996-09-30",5.25,null,null,6.6769999999999996,6.0960000000000001,7.9180000000000001]
["1996-10-31",5.25,null,null,6.3819999999999997,6,7.7880000000000003]
["1996-11-30",5.25,null,null,6.0439999999999996,5.6440000000000001,7.0259999999999998]
["1996-12-31",5.25,null,null,6.2889999999999997,5.7789999999999999,6.8040000000000003]
["1997-01-31",5.25,null,null,6.6150000000000002,5.7510000000000003,6.6920000000000002]
["1997-02-28",5.25,null,null,6.548,5.5209999999999999,6.91]
["1997-03-31",5.5,null,null,6.8970000000000002,6.0049999999999999,7.1310000000000002]
["1997-04-30",5.5,null,null,6.758,5.827,6.8630000000000004]
["1997-05-31",5.5,null,null,6.742,5.9210000000000003,6.6849999999999996]
["1997-06-30",5.5,null,null,6.4530000000000003,5.71,6.37]
["1997-07-31",5.5,null,null,6.0979999999999999,5.52,6.18]
["1997-08-31",5.5,null,null,6.335,5.6970000000000001,6.33]
["1997-09-30",5.5,null,null,6.0940000000000003,5.5220000000000002,5.8819999999999997]
["1997-10-31",5.5,null,null,5.8819999999999997,5.5970000000000004,6.04]
["1997-11-30",5.5,null,null,5.8630000000000004,5.4539999999999997,5.8]
["1997-12-31",5.5,null,null,5.7590000000000003,5.3609999999999998,5.6319999999999997]
["1998-01-31",5.5,null,null,5.5640000000000001,5.0529999999999999,5.3289999999999997]
["1998-02-28",5.5,null,null,5.6239999999999997,4.9710000000000001,5.1760000000000002]
["1998-03-31",5.5,null,null,5.6829999999999998,4.9210000000000003,5.1029999999999998]
["1998-04-30",5.5,null,null,5.8070000000000004,4.9800000000000004,5.23]
["1998-05-31",5.5,null,null,5.5540000000000003,4.867,5.0510000000000002]
["1998-06-30",5.5,null,null,5.4550000000000001,4.7839999999999998,5.016]
["1998-07-31",5.5,null,null,5.524,4.625,4.899]
["1998-08-31",5.5,null,null,5.0620000000000003,4.2130000000000001,4.6660000000000004]
["1998-09-30",5.25,null,null,4.5659999999999998,3.831,4.2729999999999997]
["1998-10-31",5,null,null,4.4989999999999997,4.1630000000000003,4.4790000000000001]
["1998-11-30",4.75,null,null,4.8079999999999998,3.96,4.2549999999999999]
["1998-12-31",4.75,null,null,4.6740000000000004,3.86,3.9820000000000002]
["1999-01-31",4.75,3,null,4.649,3.6459999999999999,3.831]
["1999-02-28",4.75,3,null,5.2770000000000001,4.0149999999999997,4.2329999999999997]
["1999-03-31",4.75,3,null,5.2590000000000003,4.0039999999999996,4.2560000000000002]
["1999-04-30",4.75,2.5,null,5.2089999999999996,3.911,4.133]
["1999-05-31",4.75,2.5,null,5.62,4.1159999999999997,4.4160000000000004]
["1999-06-30",5,2.5,null,5.9240000000000004,4.4850000000000003,4.774]
["1999-07-31",5,2.5,null,5.8719999999999999,4.8090000000000002,5.1550000000000002]
["1999-08-31",5.25,2.5,null,5.8449999999999998,4.9029999999999996,5.21]
["1999-09-30",5.25,2.5,null,5.9589999999999996,5.0819999999999999,5.3540000000000001]
["1999-10-31",5.25,2.5,null,6.0179999999999998,5.157,5.3810000000000002]
["1999-11-30",5.5,3,null,6.2,5.1340000000000003,5.3780000000000001]
["1999-12-31",5.5,3,null,6.3860000000000001,5.4989999999999997,5.5720000000000001]
["2000-01-31",5.5,3,null,6.6369999999999996,5.5380000000000003,5.774]
["2000-02-29",5.75,3.25,null,6.4089999999999998,5.5,5.7249999999999996]
["2000-03-31",6,3.5,null,6.157,5.2169999999999996,5.4470000000000001]
["2000-04-30",6,3.75,null,6.2140000000000004,5.3019999999999996,5.5270000000000001]
["2000-05-31",6.5,3.75,null,6.3220000000000001,5.2080000000000002,5.4669999999999996]
["2000-06-30",6.5,4.25,null,6.0309999999999997,5.2030000000000003,5.5529999999999999]
["2000-07-31",6.5,4.25,null,6.0330000000000004,5.2030000000000003,5.4870000000000001]
["2000-08-31",6.5,4.25,null,5.806,5.2960000000000003,5.6159999999999997]
["2000-09-30",6.5,4.5,null,5.7830000000000004,5.2290000000000001,5.5309999999999997,null,"CENTRAL BANK INTEREST RATES"]
["2000-10-31",6.5,4.75,null,5.7110000000000003,5.2169999999999996,5.5069999999999997,null,null,"USA","EU"]
["2000-11-30",6.5,4.75,null,5.5259999999999998,5.0069999999999997,5.2750000000000004,null,"Avg 99-2008",{"$f":"AVERAGE(B537:B656)","v":3.4343750000000002},{"$f":"AVERAGE(C537:C656)","v":3.0979166666666669}]
["2000-12-31",6.5,4.75,null,5.1100000000000003,4.8410000000000002,5.149,null,"Avg 09-23",{"$f":"AVERAGE(B657:B832)","v":0.81534090909090906},{"$f":"AVERAGE(C657:C832)","v":0.55596590909090871}]
["2001-01-31",5.5,4.75,null,5.2990000000000004,4.7949999999999999,5.0730000000000004]
["2001-02-28",5.5,4.75,null,4.9039999999999999,4.7590000000000003,5.048]
["2001-03-31",5,4.75,null,4.9989999999999997,4.702,4.9569999999999999]
["2001-04-30",4.5,4.75,null,5.3239999999999998,5.0330000000000004,5.343]
["2001-05-31",4,4.5,null,5.5129999999999999,5.173,5.45]
["2001-06-30",3.75,4.5,null,5.3650000000000002,5.1029999999999998,5.4219999999999997]
["2001-07-31",3.75,4.5,null,5.0960000000000001,4.88,5.1840000000000002]
["2001-08-31",3.5,4.25,null,4.766,4.7859999999999996,5.0869999999999997]
["2001-09-30",3,3.75,null,4.5819999999999999,4.7859999999999996,5.09]
["2001-10-31",2.5,3.75,null,4.4820000000000002,4.399,4.6440000000000001]
["2001-11-30",2,3.25,null,4.7619999999999996,4.5590000000000002,4.8410000000000002]
["2001-12-31",1.75,3.25,null,5.1109999999999998,5.0010000000000003,5.1790000000000003]
["2002-01-31",1.75,3.25,null,4.9400000000000004,4.9130000000000003,5.0730000000000004]
["2002-02-28",1.75,3.25,null,4.8739999999999997,4.9459999999999997,5.1139999999999999]
["2002-03-31",1.75,3.25,null,5.4020000000000001,5.2530000000000001,5.4169999999999998]
["2002-04-30",1.75,3.25,null,5.1070000000000002,5.1340000000000003,5.2990000000000004]
["2002-05-31",1.75,3.25,null,5.0650000000000004,5.1840000000000002,5.3449999999999998]
["2002-06-30",1.75,3.25,null,4.8090000000000002,4.9489999999999998,5.1219999999999999]
["2002-07-31",1.75,3.25,null,4.5350000000000001,4.7549999999999999,4.9119999999999999]
["2002-08-31",1.75,3.25,null,4.1420000000000003,4.5549999999999997,4.7030000000000003]
["2002-09-30",1.75,3.25,null,3.6619999999999999,4.2679999999999998,4.4580000000000002]
["2002-10-31",1.75,3.25,null,3.9369999999999998,4.4749999999999996,4.5999999999999996]
["2002-11-30",1.25,3.25,null,4.2110000000000003,4.4829999999999997,4.5640000000000001]
["2002-12-31",1.25,2.75,null,3.8109999999999999,4.1890000000000001,4.2670000000000003]
["2003-01-31",1.25,2.75,null,4.0229999999999997,4.0750000000000002,4.1210000000000004]
["2003-02-28",1.25,2.75,null,3.6920000000000002,3.8969999999999998,3.9079999999999999]
["2003-03-31",1.25,2.5,null,3.9,4.0369999999999999,4.0410000000000004]
["2003-04-30",1.25,2.5,null,3.931,4.0679999999999996,4.1529999999999996]
["2003-05-31",1.25,2.5,null,3.3330000000000002,3.6930000000000001,3.79]
["2003-06-30",1,2,null,3.5430000000000001,3.7970000000000002,3.8679999999999999,null,"USA","GER","SPA",null,null,"DEUDA PUBLICA 2022"]
["2003-07-31",1,2,null,4.4370000000000003,4.2050000000000001,4.2489999999999997,"Avg 99-08",{"$f":"AVERAGE(E537:E656)","v":4.6778583333333321},{"$f":"AVERAGE(F537:F656)","v":4.2876749999999975},4.4391333333333352,null,null,"Deuda%","Deuda bill","PIB"]
["2003-08-31",1,2,null,4.4630000000000001,4.1669999999999998,4.1989999999999998,"Min",{"$f":"MIN(E537:E656)","v":2.101},{"$f":"MIN(F537:F656)","v":2.944},3.0779999999999998,null,"Spain",113,1502,{"$f":"O592/N592*100","v":1329.2035398230089},{"$f":"O592/P592","v":1.1299999999999999}]
["2003-09-30",1,2,null,4.0780000000000003,4.01,4.0270000000000001,"Max",{"$f":"MAX(E537:E656)","v":6.6369999999999996},{"$f":"MAX(F537:F656)","v":5.5380000000000003},5.774,null,"Germany",66,2563,{"$f":"O593/N593*100","v":3883.3333333333335},{"$f":"O593/P593","v":0.65999999999999992}]
["2003-10-31",1,2,null,4.2969999999999997,4.3280000000000003,4.3250000000000002,null,null,null,null,null,"France",102,2990,2931.3725490196075,1.02]
["2003-11-30",1,2,null,4.33,4.468,4.4619999999999997,"Avg 99-08",{"$f":"AVERAGE(E657:E832)","v":2.3784999999999998},{"$f":"AVERAGE(F657:F832)","v":1.1057329545454551},2.6461306818181831,null,"UK",111,2950,2657.6576576576576,1.1100000000000001]
["2003-12-31",1,2,null,4.242,4.3010000000000002,4.2910000000000004,"Min",{"$f":"MIN(E657:E832)","v":0.58099999999999996},{"$f":"MIN(F657:F832)","v":-0.70699999999999996},5.5E-2,null,"Italy",144,2757,1914.5833333333333,1.44]
["2004-01-31",1,2,null,4.1840000000000002,4.2359999999999998,4.2370000000000001,"Max",{"$f":"MAX(E657:E832)","v":4.1120000000000001},{"$f":"MAX(F657:F832)","v":3.5950000000000002},6.75,null,"TOTAL",{"$f":"AVERAGE(N592:N596)","v":107.2},{"$f":"SUM(O592:O596)","v":12762},{"$f":"SUM(P592:P596)","v":12716.150413166941}]
["2004-02-29",1,2,null,3.9780000000000002,4.0380000000000003,4.0330000000000004]
["2004-03-31",1,2,null,3.891,3.9209999999999998,4.0069999999999997,"August 2023",4.1120000000000001,2.4710000000000001,3.488]
["2004-04-30",1,2,null,4.5389999999999997,4.2130000000000001,4.2270000000000003]
["2004-05-31",1,2,null,4.657,4.3760000000000003,4.4029999999999996]
["2004-06-30",1.25,2,null,4.6920000000000002,4.3129999999999997,4.3289999999999997]
["2004-07-31",1.25,2,null,4.5780000000000003,4.2140000000000004,4.2370000000000001]
["2004-08-31",1.5,2,null,4.2309999999999999,4.0179999999999998,4.0469999999999997]
["2004-09-30",1.75,2,null,4.0919999999999996,3.9870000000000001,4.0049999999999999]
["2004-10-31",1.75,2,null,4.0289999999999999,3.8679999999999999,3.875]
["2004-11-30",2,2,null,4.3280000000000003,3.786,3.7389999999999999]
["2004-12-31",2.25,2,null,4.3239999999999998,3.6859999999999999,3.7170000000000001]
["2005-01-31",2.25,2,null,4.1390000000000002,3.5329999999999999,3.5590000000000002]
["2005-02-28",2.5,2,null,4.3680000000000003,3.718,3.7450000000000001]
["2005-03-31",2.75,2,null,4.5860000000000003,3.6259999999999999,3.645]
["2005-04-30",2.75,2,null,4.1989999999999998,3.3929999999999998,3.4329999999999998]
["2005-05-31",3,2,null,4.0720000000000001,3.28,3.266]
["2005-06-30",3.25,2,null,3.9860000000000002,3.1349999999999998,3.109]
["2005-07-31",3.25,2,null,4.282,3.2349999999999999,3.2320000000000002]
["2005-08-31",3.5,2,null,4.1740000000000004,3.1070000000000002,3.0779999999999998]
["2005-09-30",3.75,2,null,4.2969999999999997,3.145,3.1379999999999999]
["2005-10-31",3.75,2,null,4.5730000000000004,3.3889999999999998,3.3660000000000001]
["2005-11-30",4,2,null,4.4820000000000002,3.4430000000000001,3.472]
["2005-12-31",4.25,2.25,null,4.367,3.2989999999999999,3.3210000000000002]
["2006-01-31",4.5,2.25,null,4.508,3.4729999999999999,3.484]
["2006-02-28",4.5,2.25,null,4.5490000000000004,3.492,3.5089999999999999]
["2006-03-31",4.75,2.5,null,4.8090000000000002,3.774,3.806]
["2006-04-30",4.75,2.5,null,5.0670000000000002,3.964,3.9660000000000002]
["2006-05-31",5,2.5,null,5.0540000000000003,3.96,3.9849999999999999]
["2006-06-30",5.25,2.75,null,5.2030000000000003,4.08,4.0579999999999998]
["2006-07-31",5.25,2.75,null,4.99,3.9220000000000002,3.9220000000000002]
["2006-08-31",5.25,3,null,4.7859999999999996,3.7679999999999998,3.76]
["2006-09-30",5.25,3,null,4.6340000000000003,3.698,3.72]
["2006-10-31",5.25,3.25,null,4.6760000000000002,3.7530000000000001,3.786]
["2006-11-30",5.25,3.25,null,4.524,3.6909999999999998,3.7309999999999999]
["2006-12-31",5.25,3.5,null,4.7039999999999997,3.9529999999999998,4.0140000000000002]
["2007-01-31",5.25,3.5,null,4.8940000000000001,4.0999999999999996,4.1529999999999996]
["2007-02-28",5.25,3.5,null,4.5540000000000003,3.96,4.0060000000000002]
["2007-03-31",5.25,3.75,null,4.6349999999999998,4.0469999999999997,4.1100000000000003]
["2007-04-30",5.25,3.75,null,4.7,4.1520000000000001,4.2060000000000004]
["2007-05-31",5.25,3.75,null,4.8849999999999998,4.4050000000000002,4.4560000000000004]
["2007-06-30",5.25,4,null,5.0279999999999996,4.5620000000000003,4.6219999999999999]
["2007-07-31",5.25,4,null,4.7649999999999997,4.3449999999999998,4.4429999999999996]
["2007-08-31",5.25,4,null,4.5570000000000004,4.2530000000000001,4.3579999999999997]
["2007-09-30",4.75,4,null,4.5869999999999997,4.3369999999999997,4.415]
["2007-10-31",4.5,4,null,4.383,4.2290000000000001,4.3550000000000004]
["2007-11-30",4.5,4,null,3.9390000000000001,4.1130000000000004,4.3029999999999999]
["2007-12-31",4.25,4,null,4.0869999999999997,4.3239999999999998,4.4059999999999997]
["2008-01-31",3,4,null,3.67,3.9430000000000001,4.0890000000000004]
["2008-02-29",3,4,null,3.524,3.9209999999999998,4.149]
["2008-03-31",2.25,4,null,3.4409999999999998,3.9060000000000001,4.2320000000000002]
["2008-04-30",2,4,null,3.823,4.125,4.4000000000000004]
["2008-05-31",2,4,null,4.0789999999999997,4.4400000000000004,4.633]
["2008-06-30",2,4,null,3.9729999999999999,4.6230000000000002,4.9050000000000002]
["2008-07-31",2,4.25,null,4.0439999999999996,4.38,4.6719999999999997]
["2008-08-31",2,4.25,null,3.827,4.1639999999999997,4.5389999999999997]
["2008-09-30",2,4.25,null,3.585,4.0110000000000001,4.5839999999999996]
["2008-10-31",1,3.75,null,3.8620000000000001,3.8540000000000001,4.6189999999999998]
["2008-11-30",1,3.25,null,2.9239999999999999,3.2480000000000002,3.8809999999999998]
["2008-12-31",0.125,2.5,null,2.101,2.944,3.8220000000000001]
["2009-01-31",0.125,2,null,2.8620000000000001,3.2890000000000001,4.3970000000000002]
["2009-02-28",0.125,2,null,3.0169999999999999,3.1019999999999999,4.3019999999999996]
["2009-03-31",0.125,1.5,null,2.7639999999999998,3.0019999999999998,4.0590000000000002]
["2009-04-30",0.125,1.25,null,3.113,3.1890000000000001,3.9260000000000002]
["2009-05-31",0.125,1,null,3.4609999999999999,3.5950000000000002,4.3780000000000001]
["2009-06-30",0.125,1,null,3.4790000000000001,3.3809999999999998,4.1349999999999998]
["2009-07-31",0.125,1,null,3.6640000000000001,3.3359999999999999,3.8330000000000002]
["2009-08-31",0.125,1,null,3.4489999999999998,3.2440000000000002,3.7690000000000001]
["2009-09-30",0.125,1,null,3.2930000000000001,3.2269999999999999,3.8119999999999998]
["2009-10-31",0.125,1,null,3.496,3.2480000000000002,3.7919999999999998]
["2009-11-30",0.125,1,null,3.2069999999999999,3.1549999999999998,3.746]
["2009-12-31",0.125,1,null,3.7989999999999999,3.3980000000000001,3.992]
["2010-01-31",0.125,1,null,3.5840000000000001,3.1989999999999998,4.1360000000000001]
["2010-02-28",0.125,1,null,3.617,3.109,3.87]
["2010-03-31",0.125,1,null,3.8679999999999999,3.0950000000000002,3.8170000000000002]
["2010-04-30",0.125,1,null,3.7320000000000002,2.98,4.0369999999999999]
["2010-05-31",0.125,1,null,3.3029999999999999,2.6680000000000001,4.3129999999999997]
["2010-06-30",0.125,1,null,2.9529999999999998,2.5750000000000002,4.5869999999999997]
["2010-07-31",0.125,1,null,2.9870000000000001,2.6789999999999998,4.2329999999999997]
["2010-08-31",0.125,1,null,2.6469999999999998,2.109,4.0629999999999997]
["2010-09-30",0.125,1,null,2.5009999999999999,2.286,4.1340000000000003]
["2010-10-31",0.125,1,null,2.6030000000000002,2.5099999999999998,4.2]
["2010-11-30",0.125,1,null,2.8260000000000001,2.6819999999999999,5.5919999999999996]
["2010-12-31",0.125,1,null,3.3570000000000002,2.9580000000000002,5.4560000000000004]
["2011-01-31",0.125,1,null,3.3290000000000002,3.1680000000000001,5.3929999999999998]
["2011-02-28",0.125,1,null,3.4220000000000002,3.1659999999999999,5.3840000000000003]
["2011-03-31",0.125,1,null,3.4870000000000001,3.3650000000000002,5.3040000000000003]
["2011-04-30",0.125,1.25,null,3.29,3.2410000000000001,5.28]
["2011-05-31",0.125,1.25,null,3.0720000000000001,3.0289999999999999,5.3689999999999998]
["2011-06-30",0.125,1.25,null,3.121,3.012,5.4340000000000002]
["2011-07-31",0.125,1.5,null,2.7930000000000001,2.544,6.0839999999999996]
["2011-08-31",0.125,1.5,null,2.2639999999999998,2.2210000000000001,5.0609999999999999]
["2011-09-30",0.125,1.5,null,2.0019999999999998,1.8859999999999999,5.1369999999999996]
["2011-10-31",0.125,1.5,null,2.3239999999999998,2.0369999999999999,5.5750000000000002]
["2011-11-30",0.125,1.25,null,1.988,2.2810000000000001,6.335]
["2011-12-31",0.125,1,null,1.899,1.8160000000000001,5.1150000000000002]
["2012-01-31",0.125,1,null,1.891,1.8089999999999999,5.0039999999999996]
["2012-02-29",0.125,1,null,1.974,1.8340000000000001,4.97]
["2012-03-31",0.125,1,null,2.1589999999999998,1.8049999999999999,5.3460000000000001]
["2012-04-30",0.125,1,null,1.9359999999999999,1.6639999999999999,5.7809999999999997]
["2012-05-31",0.125,1,null,1.748,1.2190000000000001,6.5209999999999999]
["2012-06-30",0.125,1,null,1.643,1.605,6.45]
["2012-07-31",0.125,0.75,null,1.5449999999999999,1.292,6.7130000000000001]
["2012-08-31",0.125,0.75,null,1.6519999999999999,1.347,6.75]
["2012-09-30",0.125,0.75,null,1.633,1.423,5.9619999999999997]
["2012-10-31",0.125,0.75,null,1.7210000000000001,1.4830000000000001,5.6440000000000001]
["2012-11-30",0.125,0.75,null,1.62,1.37,5.3579999999999997]
["2012-12-31",0.125,0.75,null,1.7010000000000001,1.3049999999999999,5.3120000000000003]
["2013-01-31",0.125,0.75,null,1.9650000000000001,1.681,5.2320000000000002]
["2013-02-28",0.125,0.75,null,1.881,1.46,5.1280000000000001]
["2013-03-31",0.125,0.75,null,1.8520000000000001,1.28,5.0570000000000004]
["2013-04-30",0.125,0.75,null,1.667,1.2070000000000001,4.117]
["2013-05-31",0.125,0.5,null,2.1190000000000002,1.514,4.4459999999999997]
["2013-06-30",0.125,0.5,null,2.4740000000000002,1.73,4.7839999999999998]
["2013-07-31",0.125,0.5,null,2.5990000000000002,1.6759999999999999,4.66]
["2013-08-31",0.125,0.5,null,2.762,1.86,4.5259999999999998]
["2013-09-30",0.125,0.5,null,2.6280000000000001,1.78,4.3140000000000001]
["2013-10-31",0.125,0.5,null,2.5030000000000001,1.6779999999999999,4.0579999999999998]
["2013-11-30",0.125,0.25,null,2.7410000000000001,1.6930000000000001,4.1219999999999999]
["2013-12-31",0.125,0.25,null,3.0059999999999998,1.9410000000000001,4.1449999999999996]
["2014-01-31",0.125,0.25,null,2.6749999999999998,1.657,3.6720000000000002]
["2014-02-28",0.125,0.25,null,2.66,1.627,3.5169999999999999]
["2014-03-31",0.125,0.25,null,2.7229999999999999,1.57,3.2429999999999999]
["2014-04-30",0.125,0.25,null,2.6970000000000001,1.47,3.036]
["2014-05-31",0.125,0.25,null,2.4700000000000002,1.355,2.8570000000000002]
["2014-06-30",0.125,0.15,null,2.536,1.252,2.6680000000000001]
["2014-07-31",0.125,0.15,null,2.4620000000000002,1.1659999999999999,2.5219999999999998]
["2014-08-31",0.125,0.15,null,2.3450000000000002,0.88800000000000001,2.226]
["2014-09-30",0.125,0.05,null,2.4790000000000001,0.94599999999999995,2.1619999999999999]
["2014-10-31",0.125,0.05,null,2.3210000000000002,0.84699999999999998,2.1070000000000002]
["2014-11-30",0.125,0.05,null,2.173,0.70199999999999996,1.913]
["2014-12-31",0.125,0.05,null,2.2040000000000002,0.54100000000000004,1.61]
["2015-01-31",0.125,0.05,null,1.756,0.314,1.4490000000000001]
["2015-02-28",0.125,0.05,null,1.996,0.32400000000000001,1.26]
["2015-03-31",0.125,0.05,null,1.96,0.185,1.2350000000000001]
["2015-04-30",0.125,0.05,null,2.0459999999999998,0.36299999999999999,1.508]
["2015-05-31",0.125,0.05,null,2.1230000000000002,0.48599999999999999,1.8420000000000001]
["2015-06-30",0.125,0.05,null,2.3279999999999998,0.77,2.274]
["2015-07-31",0.125,0.05,null,2.2890000000000001,0.64700000000000002,1.845]
["2015-08-31",0.125,0.05,null,2.1840000000000002,0.79400000000000004,2.0960000000000001]
["2015-09-30",0.125,0.05,null,2.06,0.59,1.89]
["2015-10-31",0.125,0.05,null,2.1720000000000002,0.52500000000000002,1.675]
["2015-11-30",0.125,0.05,null,2.222,0.47499999999999998,1.5309999999999999]
["2015-12-31",0.375,0.05,null,2.3069999999999999,0.63400000000000001,1.7809999999999999]
["2016-01-31",0.375,0.05,null,1.93,0.33500000000000002,1.5169999999999999]
["2016-02-29",0.375,0.05,null,1.74,0.109,1.528]
["2016-03-31",0.375,0,null,1.8120000000000001,0.155,1.4379999999999999]
["2016-04-30",0.375,0,null,1.819,0.28000000000000003,1.6]
["2016-05-31",0.375,0,null,1.835,0.14699999999999999,1.486]
["2016-06-30",0.375,0,null,1.476,-0.127,1.2290000000000001]
["2016-07-31",0.375,0,null,1.458,-0.12,1.016]
["2016-08-31",0.375,0,null,1.5660000000000001,-6.0999999999999999E-2,1.0109999999999999]
["2016-09-30",0.375,0,null,1.556,-0.11700000000000001,0.88300000000000001]
["2016-10-31",0.375,0,null,1.845,0.16600000000000001,1.216]
["2016-11-30",0.375,0,null,2.302,0.27900000000000003,1.5489999999999999]
["2016-12-31",0.625,0,null,2.4769999999999999,0.20699999999999999,1.391]
["2017-01-31",0.625,0,null,2.4809999999999999,0.437,1.6060000000000001]
["2017-02-28",0.625,0,null,2.3580000000000001,0.20599999999999999,1.6419999999999999]
["2017-03-31",0.875,0,null,2.387,0.33,1.655]
["2017-04-30",0.875,0,null,2.282,0.32700000000000001,1.6459999999999999]
["2017-05-31",0.875,0,null,2.25,0.3,1.5289999999999999]
["2017-06-30",1.125,0,null,2.2669999999999999,0.47,1.5269999999999999]
["2017-07-31",1.125,0,null,2.2869999999999999,0.53100000000000003,1.492]
["2017-08-31",1.125,0,null,2.1360000000000001,0.36299999999999999,1.4450000000000001]
["2017-09-30",1.125,0,null,2.3260000000000001,0.46100000000000002,1.615]
["2017-10-31",1.125,0,null,2.4279999999999999,0.36299999999999999,1.4590000000000001]
["2017-11-30",1.125,0,null,2.3759999999999999,0.376,1.4490000000000001]
["2017-12-31",1.375,0,null,2.411,0.42399999999999999,1.5660000000000001]
["2018-01-31",1.375,0,null,2.6989999999999998,0.69299999999999995,1.4159999999999999]
["2018-02-28",1.375,0,null,2.8679999999999999,0.66200000000000003,1.5369999999999999]
["2018-03-31",1.625,0,null,2.7440000000000002,0.49399999999999999,1.1619999999999999]
["2018-04-30",1.625,0,null,2.9569999999999999,0.56299999999999994,1.2769999999999999]
["2018-05-31",1.625,0,null,2.7679999999999998,0.34300000000000003,1.4970000000000001]
["2018-06-30",1.875,0,null,2.851,0.308,1.33]
["2018-07-31",1.875,0,null,2.9620000000000002,0.443,1.4139999999999999]
["2018-08-31",1.875,0,null,2.8820000000000001,0.33200000000000002,1.4890000000000001]
["2018-09-30",2.125,0,null,3.056,0.47399999999999998,1.508]
["2018-10-31",2.125,0,null,3.0870000000000002,0.38400000000000001,1.5649999999999999]
["2018-11-30",2.125,0,null,3.0350000000000001,0.309,1.5129999999999999]
["2018-12-31",2.375,0,null,2.738,0.246,1.4219999999999999]
["2019-01-31",2.375,0,null,2.7120000000000002,0.156,1.2010000000000001]
["2019-02-28",2.375,0,null,2.7109999999999999,0.186,1.1830000000000001]
["2019-03-31",2.375,0,null,2.4140000000000001,-7.0999999999999994E-2,1.105]
["2019-04-30",2.375,0,null,2.536,1.4E-2,1.0049999999999999]
["2019-05-31",2.375,0,null,2.2360000000000002,-0.20100000000000001,0.71499999999999997]
["2019-06-30",2.375,0,null,2,-0.32600000000000001,0.39500000000000002]
["2019-07-31",2.375,0,null,2.0550000000000002,-0.436,0.29099999999999998]
["2019-08-31",2.125,0,null,1.516,-0.70699999999999996,0.11700000000000001]
["2019-09-30",1.875,0,null,1.673,-0.56999999999999995,0.15]
["2019-10-31",1.625,0,null,1.835,-0.40100000000000002,0.24199999999999999]
["2019-11-30",1.625,0,null,1.776,-0.35399999999999998,0.42399999999999999]
["2019-12-31",1.625,0,null,1.873,-0.187,0.46899999999999997]
["2020-01-31",1.625,0,null,1.5940000000000001,-0.442,0.22700000000000001]
["2020-02-29",1.625,0,null,1.1259999999999999,-0.61199999999999999,0.28299999999999997]
["2020-03-31",0.125,0,null,0.74399999999999999,-0.45700000000000002,0.68400000000000005]
["2020-04-30",0.125,0,null,0.627,-0.58599999999999997,0.73099999999999998]
["2020-05-31",0.125,0,null,0.64400000000000002,-0.44700000000000001,0.57299999999999995]
["2020-06-30",0.125,0,null,0.63600000000000001,-0.46,0.47399999999999998]
["2020-07-31",0.125,0,null,0.58099999999999996,-0.53300000000000003,0.34]
["2020-08-31",0.125,0,null,0.72899999999999998,-0.39600000000000002,0.40799999999999997]
["2020-09-30",0.125,0,null,0.64500000000000002,-0.52,0.252]
["2020-10-31",0.125,0,null,0.83599999999999997,-0.624,0.13700000000000001]
["2020-11-30",0.125,0,null,0.84199999999999997,-0.57199999999999995,0.08]
["2020-12-31",0.125,0,null,0.93500000000000005,-0.57499999999999996,5.5E-2]
["2021-01-31",0.125,0,null,1.0940000000000001,-0.51600000000000001,0.10100000000000001]
["2021-02-28",0.125,0,null,1.456,-0.25900000000000001,0.42699999999999999]
["2021-03-31",0.125,0,null,1.7210000000000001,-0.29699999999999999,0.33600000000000002]
["2021-04-30",0.125,0,null,1.64,-0.19900000000000001,0.48199999999999998]
["2021-05-31",0.125,0,null,1.593,-0.183,0.47199999999999998]
["2021-06-30",0.125,0,null,1.48,-0.20300000000000001,0.42199999999999999]
["2021-07-31",0.125,0,null,1.2689999999999999,-0.45800000000000002,0.27200000000000002]
["2021-08-31",0.125,0,null,1.3120000000000001,-0.38,0.34300000000000003]
["2021-09-30",0.125,0,null,1.5389999999999999,-0.19500000000000001,0.46300000000000002]
["2021-10-31",0.125,0,null,1.556,-0.151,0.622]
["2021-11-30",0.125,0,null,1.5289999999999999,-0.34100000000000003,0.40699999999999997]
["2021-12-31",0.125,0,null,1.5429999999999999,-0.17899999999999999,0.59499999999999997]
["2022-01-31",0.125,0,null,1.78,1.4E-2,0.75700000000000001]
["2022-02-28",0.125,0,null,1.839,0.156,1.153]
["2022-03-31",0.375,0,null,2.4,0.55400000000000005,1.4470000000000001]
["2022-04-30",0.375,0,null,2.8849999999999998,0.93799999999999994,1.9770000000000001]
["2022-05-31",0.875,0,null,2.7490000000000001,1.125,2.2320000000000002]
["2022-06-30",1.625,0,null,3.093,1.367,2.4609999999999999]
["2022-07-31",2.375,0.5,null,2.6419999999999999,0.82699999999999996,1.9330000000000001]
["2022-08-31",2.375,0.5,null,3.11,1.5349999999999999,2.7330000000000001]
["2022-09-30",3.125,1.25,null,3.7469999999999999,2.1110000000000002,3.2949999999999999]
["2022-10-31",3.125,1.25,null,4.01,2.157,3.238]
["2022-11-30",3.875,2,null,3.7480000000000002,1.946,2.9630000000000001]
["2022-12-31",4.375,2.5,null,3.835,2.5619999999999998,3.6480000000000001]
["2023-01-31",4.375,2.5,null,3.5179999999999998,2.2759999999999998,3.319]
["2023-02-28",4.625,3,null,3.9140000000000001,2.6339999999999999,3.673]
["2023-03-31",4.875,3.5,null,3.5659999999999998,2.31,3.3250000000000002]
["2023-04-30",4.875,3.5,null,3.4279999999999999,2.3199999999999998,3.3650000000000002]
["2023-05-31",5.125,3.75,null,3.7959999999999998,2.2690000000000001,3.3340000000000001]
["2023-06-30",5.125,4,null,3.8439999999999999,2.3940000000000001,3.3849999999999998]
["2023-07-31",5.375,4,null,3.9590000000000001,2.4670000000000001,3.516]
["2023-08-31",5.375,4.25,null,4.1120000000000001,2.4710000000000001,3.488]

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[]
[null,null,null,null,null,null,null,null,"Debt /","EBITA /",null,"Cash Flow /","EBITA /","Operating",null,"(FFO + Int Exp) /","EBITA / ","CAPEX /","Revenue"]
[null,null,null,null,null,null,null,null,"EBITDA","Inter.Expen","Revenue","Net Debt","Revenue","Margin","FFO/Debt","/ Int Exp","Averg Assets","Depreciation","Volatility"]
[null,null,null,null,null,null,null,"Aaa",1.5,16.600000000000001,125.8,0.442,0.32200000000000001,0.25600000000000001,0.65900000000000003,19.3,0.16800000000000001,1.4,16]
[null,null,null,null,null,null,null,"Aa",1.4,19.7,72.400000000000006,0.39200000000000002,0.19400000000000001,0.185,0.65,21.9,0.115,1.4,10.3]
[null,"Moody's","S&P","Explicación","Explanation",null,null,"A",2.1,11.7,20.2,0.32300000000000001,0.14799999999999999,0.13300000000000001,0.39200000000000002,13.6,0.104,1.3,9.9]
[null,"Investment grade",null,"Investment grade","Investment grade",null,null,"Baa",2.8,6.6,8,0.251,0.153,0.13200000000000001,0.29599999999999999,8.5,8.8999999999999996E-2,1.3,11.7]
[null,"AAA","AAA","Nivel mínimo de riesgo crediticio","Minimum level of credit risk",null,null,"Ba",3.5,3.7,3.2,0.20300000000000001,0.14799999999999999,0.124,0.22,5.4,8.8999999999999996E-2,1.3,15.6]
[null,"Aa1/Aa2/Aa3","AA+/AA/AA-","Nivel muy bajo de riesgo crediticio","Very low level of credit risk",null,null,"B",5.6,1.8,0.8,8.5999999999999993E-2,0.13600000000000001,8.8999999999999996E-2,9.4E-2,2.4,7.0999999999999994E-2,1.1000000000000001,18.5]
[null,"A1/A2/A3","A+/A/A-","Nivel bajo de riesgo crediticio","Low level of credit risk",null,null,"Caa-C",7.9,0.7,0.7,2.9000000000000001E-2,6.7000000000000004E-2,0.04,3.5999999999999997E-2,1.4,0.05,0.9,13.8]
[null,"Baa1/Baa2/Baa3","BBB+/BBB/BBB-","Riesgo crediticio moderado","Moderate credit risk",null,null,"*Table reports September 2019 median values: from Moody's Financial Metrics Key Ratios By Rating And Industry For Global Non-Financial Corporations."]
[null,"Speculative grade",null,"Speculative grade","Speculative grade"]
[null,"Ba1/Ba2/Ba3","BB+/BB/BB-","Riesgo crediticio sustancial","Substantial credit risk"]
[null,"B1/B2/B3","B+/B/B-","Riesgo crediticio alto","High credit risk"]
[null,"Caa1/Caa2/Caa3","CCC+/CCC/CCC-","Riesgo crediticio muy alto","Very high credit risk"]
[null,"Ca","CC","Es probable que esté en situación de incumplimiento o muy cerca de estarlo, pero existe la posibilidad de recuperar el capital","probably in default or very close to it, but there is a possibility of recovering the capital"]
[null,"C","SD/D","En incumplimiento, con pocas posibilidades de recuperar el capital","In default, with little chance of recovering capital"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"OLD TABLES. EDITION 2012"]
[]
["Table 1","10Y Gov. Bond",null,null,"2Y Gov. Bond",null,null,"Spread 10 to 2Y"]
["2000-11","USA","GER","SPA","USA","GER","SPA","USA","GER","SPA"]
["Max.",6.7,5.5,6.1,6.7,5.2,5.3,2.8,2.2000000000000002,2.7]
["Min.",1.9,1.9,3.1,0.2,0.5,1.4,-0.5,0,0.1]
["Average",4.2,3.9,4.4000000000000004,2.8,2.9,3.2,1.4,1.1000000000000001,1.2]
["1993-99"]
["Max.",7.9,7.6,12.3,7.7,6.5,12.7,2.2000000000000002,2.7,1.9]
["Min.",4.4000000000000004,3.6,3.9,3.8,2.7,2.7,0,0.4,-1]
["Average",6.2,5.8,8,5.5,4.5,7,0.6,1.4,0.9]
[]
[]
["Table 2. Standard & Poor’s Rating, 2001-03"]
["Average ratios for every grade, during 2001-03 for US industrial long-term debt"]
[]
[null,"Ratio/ Ratings","EBIT interest coverage","EBITDA interest coverage","FFO / Total debt (%)","FOCF / Total debt","Total debt / EBITDA","Return on capital","Total debt / capital (%)"]
[null,"Description","EBIT / Interests","EBITDA / Interests","CFO / Debt","FCF after tax / Debt","Debt / EBITDA","EBIT / Net assets","Debt / (Debt + Equity)"]
["Investment Grade","AAA",23.8,25.3,1.6779999999999999,1.0409999999999999,0.2,0.35100000000000003,6.2E-2]
[null,"AA",13.6,17.100000000000001,0.77500000000000002,0.41099999999999998,1.1000000000000001,0.26899999999999996,0.34799999999999998]
[null,"A",6.9,9.4,0.432,0.254,1.7,0.16800000000000001,0.39799999999999996]
[null,"BBB",4.2,5.9,0.34599999999999997,0.16900000000000001,2.4,0.13400000000000001,0.45600000000000002]
["Speculative Grade","BB",2.2999999999999998,3.1,0.2,7.9000000000000001E-2,3.8,0.10300000000000001,0.57200000000000006]
[null,"B",0.9,1.6,0.10100000000000001,2.5999999999999999E-2,5.6,6.7000000000000004E-2,0.74199999999999999]
[null,"CCC",0.4,0.9,2.9000000000000001E-2,-8.9999999999999993E-3,7.4,2.3E-2,1.012]
[]
[]
["Tables 3 & 4. Moody's Financial Metrics Key Ratios by Rating and Industry."]
["For Global Non-Financial Corporations. 2008"]
[]
[null,"Ratio/ Ratings","EBITA/ Average AT","Operating Margin","EBITA Margin","EBITA/ IntExp","(FFO+IntExp)/ IntExp"]
["Investment Grade","Aaa",0.153,0.14899999999999999,0.14799999999999999,17,15.5]
[null,"Aa ",0.156,0.17,0.17499999999999999,13.7,15.5]
[null,"A",0.125,0.13800000000000001,0.152,8.1999999999999993,9.6]
[null,"Baa",0.10100000000000001,0.126,0.13900000000000001,5.0999999999999996,6.6]
["Speculative Grade","Ba ",9.6000000000000002E-2,0.122,0.13400000000000001,3.4,4.7]
[null,"B",7.2999999999999995E-2,8.5000000000000006E-2,9.4E-2,1.5,2.6]
[null,"Caa-C",0.02,1.6E-2,2.4E-2,0.3,1.5]
[]
[]
[]
[null,"Ratio/ Ratings","Debt/ EBITDA","Debt/ BookCap","FFO/ NetDebt","RCF/ NetDebt","CAPEX/ DepExp","Rev Vol"]
["Investment Grade","Aaa",0.9,0.22700000000000001,1.173,0.96299999999999997,1.6,5.6]
[null,"Aa ",1,0.32500000000000001,0.68400000000000005,0.38400000000000001,1.4,4.4000000000000004]
[null,"A",1.7,0.39100000000000001,0.438,0.38700000000000001,1.3,5.5]
[null,"Baa",2.4,0.44800000000000001,0.29199999999999998,0.27700000000000002,1.2,7.2]
["Speculative Grade","Ba ",3.3,0.53500000000000003,0.218,0.2,1.2,10.7]
[null,"B",5,0.70199999999999996,0.12,0.11700000000000001,1.1000000000000001,9.1999999999999993]
[null,"Caa-C",6.3,0.92500000000000004,4.2999999999999997E-2,4.5999999999999999E-2,0.9,11.1]
[]
["Definitions:"]
[]
["EBITA / Average Assets"]
["EBITA / Average of Current and Previous Year Assets"]
["EBITA / Interest Expense"]
["EBITA / Interest Expense"]
["EBITA Margin"]
["EBITA / Net Revenue"]
["(FFO + Interest Expense) / Interest Expense"]
["(Funds From Operations + Interest Expense) / Interest Expense"]
["FFO / Debt"]
["Funds From Operations / (Short-Term Debt + Long-Term Debt)"]
["RCF / Debt"]
["(FFO - Preferred Dividends - Common Dividends - Minority Dividends) / (Short-Term Debt + Long-Term Debt)"]
["Debt / EBITDA"]
["(Short-Term Debt + Long-Term Debt) / EBITDA"]
["Debt / Book Capitalization"]
["(Short-Term Debt + Long-Term Debt) /"]
["(Short-Term Debt + Long-Term Debt + Deferred Taxes + Minority Interest + Book Equity)"]
["Operating Margin"]
["Operating Profit / Net Revenue"]
["CAPEX / Depreciation Expense"]
["CAPEX / Depreciation Expense"]
["Revenue Volatility"]
["Standard Deviation of Trailing Five Years of Net Revenue Growth"]
[]
[]
["Average ROE and market Return, during 1995-2002, for Telecom Compnaies (in %)"]
[]
[null,"ATT","Bell","BT","Telefónica","Sprint","SBC","Berizon"]
["ROE in %",9,20,9,5,6,28,24]
["Market Return in %",8,17,8,29,18,6,5]
[]
[]
[]
[]
[]
["OLD VERSION MOODY'S 2006. NOT TO BE INCLUDEN IN THE BOOK. ",null,null,null,null,null,null,null,"Summary"]
[null,null,null,null,null,null,null,null,"Invest. Grade","Speculative"]
[null,null,null,null,null,null,null,null,6.5,2.1]
["Table 3. Moody's ratings July 2006",null,null,null,null,null,null,null,2.4,1.4]
["Median ratios for every grade",null,null,null,null,null,null,null,0.436,0.66800000000000004]
[null,null,"Investment-Grade",null,null,null,"Speculative-Grade",null,{"$f":"I120/(1-I120)","v":0.77304964539007082},2.0120481927710845]
["Ratio","Description","Aaa-Aa","A","Baa","Ba","B","Caa-C",{"$f":"I119*I121","v":1.8553191489361698},2.8168674698795182]
["Interest Coverage","(EBIT / Interests)",16,8.6,5.4,3.7,1.9,0.7,0.28399999999999997,0.127]
["Asset Coverage","Assets / Debt",3.7,2.4,2.2999999999999998,2,1.3,1,{"$f":"I125*I122","v":0.11688510638297869},5.3520481927710847E-2]
["Leverage","Debt / (Debt + Equity)",0.316,0.41699999999999998,0.44800000000000001,0.498,0.68700000000000006,0.92200000000000004,6.3E-2,1.9E-2]
["Leverage-1*","Debt / Equity (times)",0.46198830409356728,0.71526586620926247,0.81159420289855067,0.99203187250996017,2.1948881789137387,11.820512820512828,7.8E-2,2.1000000000000001E-2]
["Leverage-2*","Assets / Equity",1.709356725146199,1.71663807890223,1.8666666666666665,1.9840637450199203,2.8533546325878603,11.820512820512828,4.5999999999999999E-2,3.9E-2]
["Cash Flow-to-Debt","CFO / Debt",0.52400000000000002,0.32600000000000001,0.25800000000000001,0.216,0.121,6.4000000000000001E-2,6.6,5.9]
["Return on Equity*","Net Income / Equity",0.19828538011695909,0.12874785591766724,9.8933333333333318E-2,8.7298804780876496E-2,4.8507028753993625E-2,-0.24823076923076942]
["Return on Assets","Net Income / Assets",0.11600000000000001,7.4999999999999997E-2,5.2999999999999999E-2,4.3999999999999997E-2,1.7000000000000001E-2,-2.1000000000000001E-2]
["Profit","Net Income / Sales",0.11799999999999999,0.09,6.7000000000000004E-2,0.05,0.02,-2.5999999999999999E-2]
["Liquidity","Cash / Total Assets",7.8E-2,4.7E-2,0.04,4.2999999999999997E-2,3.9E-2,3.3000000000000002E-2]
["Revenue Stability",null,7.2,7.3,6.1,5.2,6.1,7.3]
["* Ratios included and calculated by the author, not by Moody's"]
[]
["Detailed calculation of every ratio"]
["• Interest Coverage:"]
["(EBIT - Interest Capitalized + (1/3)*Rental Expense) / (Interest Expense + (1/3)*Rental Expense +Preferred Dividends/0.65)"]
["• Asset Coverage:"]
["(Total Assets - Goodwill - Intangibles) / Total Debt"]
["• Leverage:"]
[" (Total Debt + 8*Rental Expense) / (Total Debt + 8*Rental Expense + Deferred Taxes + Minority Interest + Total Equity)"]
["• Cash Flow/Debt:"]
[" (Net After-Tax Income Before X-Items + Depreciations - Dividends) / (Total Debt + 8*Rental Expense)"]
["• Return on Assets:"]
[" Net After-Tax Income Before X-Items / 2 Year Average Assets"]
["• Profit:"]
[" Net After-Tax Income Before X-Items / Net Sales"]
["• Liquidity:"]
[" Cash & Market Securities / Total Assets"]
["• Revenue Stability:"]
[" 5 Year Average Net Sales / 5 Year Standard Deviation Net Sales"]
["See example of this ratio ---->",null,"Years","Sales A","Change","Sales B"]
["Sales for companies A (stable) a B (volatile)",null,1,100,null,100]
[null,null,2,110,{"$f":"D155/D154-1","v":0.10000000000000009},140,{"$f":"F155/F154-1","v":0.39999999999999991}]
[null,null,3,115,{"$f":"D156/D155-1","v":4.5454545454545414E-2},160,{"$f":"F156/F155-1","v":0.14285714285714279}]
[null,null,4,110,{"$f":"D157/D156-1","v":-4.3478260869565188E-2},110,{"$f":"F157/F156-1","v":-0.3125}]
[null,null,5,105,{"$f":"D158/D157-1","v":-4.5454545454545414E-2},90,{"$f":"F158/F157-1","v":-0.18181818181818177}]
[null,null,"Average",{"$f":"AVERAGE(D154:D158)","v":108},{"$f":"AVERAGE(E154:E158)","v":1.4130434782608725E-2},{"$f":"AVERAGE(F154:F158)","v":120},{"$f":"AVERAGE(G154:G158)","v":1.2134740259740234E-2}]
[null,null,"St. Dev",{"$f":"STDEV(D154:D159)","v":5.0990195135927845},{"$f":"STDEV(E154:E159)","v":6.1692612654633168E-2},{"$f":"STDEV(F154:F159)","v":26.076809620810597},{"$f":"STDEV(G154:G159)","v":0.27862755464072914}]
[null,null,"Average / st dev",{"$f":"D159/D160","v":21.180542594923878},{"$f":"E159/E160","v":0.22904581561026688},{"$f":"F159/F160","v":4.6017899330842225},{"$f":"G159/G160","v":4.3551831316135041E-2}]

{"sheet":"Taxas","index":10,"n_rows":832,"n_cols":17,"rows_kept":832,"cut":false,"hidden":true,"merged":[]}
[null,"Central Banks",null,null,null,"Tbond 10 Y Yield"]
["Date","FED","BCE",null,"EUA","ALEMANHA","ESPANHA"]
["1954-07-31",0.25]
["1954-08-31",1.44]
["1954-09-30",1.44]
["1954-10-31",1.1299999999999999]
["1954-11-30",1.38]
["1954-12-31",1.44]
["1955-01-31",1.44]
["1955-02-28",1.44]
["1955-03-31",1.44]
["1955-04-30",1.69]
["1955-05-31",1.69]
["1955-06-30",1.69]
["1955-07-31",1.75]
["1955-08-31",2]
["1955-09-30",2.19]
["1955-10-31",2.25]
["1955-11-30",2.44]
["1955-12-31",2.5]
["1956-01-31",2.5]
["1956-02-29",2.5]
["1956-03-31",2.5]
["1956-04-30",2.75]
["1956-05-31",2.75]
["1956-06-30",2.75]
["1956-07-31",2.69]
["1956-08-31",3]
["1956-09-30",3]
["1956-10-31",3]
["1956-11-30",3]
["1956-12-31",3]
["1957-01-31",3]
["1957-02-28",3]
["1957-03-31",2.94]
["1957-04-30",3]
["1957-05-31",3]
["1957-06-30",3]
["1957-07-31",2.88]
["1957-08-31",3.5]
["1957-09-30",3.5]
["1957-10-31",3.5]
["1957-11-30",3]
["1957-12-31",3]
["1958-01-31",1.5]
["1958-02-28",0.5]
["1958-03-31",0.5]
["1958-04-30",0.25]
["1958-05-31",0.13]
["1958-06-30",0.5]
["1958-07-31",0.38]
["1958-08-31",1.75]
["1958-09-30",1.5]
["1958-10-31",2]
["1958-11-30",2.5]
["1958-12-31",2.38]
["1959-01-31",2.5]
["1959-02-28",2.5]
["1959-03-31",3]
["1959-04-30",3]
["1959-05-31",3.25]
["1959-06-30",3]
["1959-07-31",3.5]
["1959-08-31",3.5]
["1959-09-30",3]
["1959-10-31",4]
["1959-11-30",4]
["1959-12-31",4]
["1960-01-31",4]
["1960-02-29",4]
["1960-03-31",4]
["1960-04-30",4]
["1960-05-31",3.5]
["1960-06-30",3.5]
["1960-07-31",3.25]
["1960-08-31",3]
["1960-09-30",3]
["1960-10-31",2.75]
["1960-11-30",0.25]
["1960-12-31",3]
["1961-01-31",2.25]
["1961-02-28",2]
["1961-03-31",2]
["1961-04-30",0.5]
["1961-05-31",1]
["1961-06-30",0.5]
["1961-07-31",2.5]
["1961-08-31",1.75]
["1961-09-30",1.5]
["1961-10-31",2]
["1961-11-30",1.75]
["1961-12-31",2.5]
["1962-01-31",1.5,null,null,4.12]
["1962-02-28",2.75,null,null,4]
["1962-03-31",2.75,null,null,3.9]
["1962-04-30",2.5,null,null,3.86]
["1962-05-31",2.75,null,null,3.89]
["1962-06-30",2.75,null,null,4]
["1962-07-31",2.75,null,null,4.0199999999999996]
["1962-08-31",3,null,null,3.96]
["1962-09-30",2.75,null,null,3.94]
["1962-10-31",3,null,null,3.92]
["1962-11-30",2.88,null,null,3.92]
["1962-12-31",3,null,null,3.84]
["1963-01-31",3,null,null,3.86]
["1963-02-28",3,null,null,3.94]
["1963-03-31",3,null,null,3.95]
["1963-04-30",3,null,null,3.95]
["1963-05-31",3,null,null,3.96]
["1963-06-30",3,null,null,4]
["1963-07-31",3.5,null,null,3.99]
["1963-08-31",3.5,null,null,4.01,null,"Avg 99-08"]
["1963-09-30",3.5,null,null,4.07,null,"Min"]
["1963-10-31",3.5,null,null,4.13,null,"Max"]
["1963-11-30",3.5,null,null,4.08]
["1963-12-31",3.25,null,null,4.1500000000000004,null,"Avg 99-08"]
["1964-01-31",3.5,null,null,4.17,null,"Min"]
["1964-02-29",3.5,null,null,4.18,null,"Max"]
["1964-03-31",3.5,null,null,4.25]
["1964-04-30",3.5,null,null,4.22]
["1964-05-31",3.5,null,null,4.1900000000000004]
["1964-06-30",3.5,null,null,4.1500000000000004]
["1964-07-31",3.5,null,null,4.2]
["1964-08-31",3.5,null,null,4.21]
["1964-09-30",2.75,null,null,4.18]
["1964-10-31",3.5,null,null,4.16]
["1964-11-30",4,null,null,4.1900000000000004]
["1964-12-31",4,null,null,4.1900000000000004]
["1965-01-31",4,null,null,4.1900000000000004]
["1965-02-28",4,null,null,4.22]
["1965-03-31",4,null,null,4.2]
["1965-04-30",4.13,null,null,4.21]
["1965-05-31",4.13,null,null,4.2300000000000004]
["1965-06-30",4.13,null,null,4.2]
["1965-07-31",4.13,null,null,4.21]
["1965-08-31",4,null,null,4.2699999999999996]
["1965-09-30",4.13,null,null,4.3600000000000003]
["1965-10-31",4.13,null,null,4.41]
["1965-11-30",4.13,null,null,4.46]
["1965-12-31",4.63,null,null,4.62]
["1966-01-31",4.5,null,null,4.6500000000000004]
["1966-02-28",4.63,null,null,5.0199999999999996]
["1966-03-31",4.75,null,null,4.8]
["1966-04-30",4.63,null,null,4.79]
["1966-05-31",4.75,null,null,4.8099999999999996]
["1966-06-30",5.5,null,null,4.9000000000000004]
["1966-07-31",5.75,null,null,5.05]
["1966-08-31",4.5,null,null,5.51]
["1966-09-30",5.75,null,null,4.99]
["1966-10-31",5.75,null,null,4.97]
["1966-11-30",5.75,null,null,5.15]
["1966-12-31",5,null,null,4.66]
["1967-01-31",4,null,null,4.47]
["1967-02-28",4.75,null,null,4.72]
["1967-03-31",4.5,null,null,4.5199999999999996]
["1967-04-30",4,null,null,4.78]
["1967-05-31",4.13,null,null,4.84]
["1967-06-30",3.5,null,null,5.2]
["1967-07-31",3.75,null,null,5.18]
["1967-08-31",4,null,null,5.27]
["1967-09-30",3.75,null,null,5.31]
["1967-10-31",4.13,null,null,5.57]
["1967-11-30",4.5,null,null,5.67]
["1967-12-31",4.5,null,null,5.7]
["1968-01-31",4.75,null,null,5.53]
["1968-02-29",4.75,null,null,5.56]
["1968-03-31",5.25,null,null,5.76]
["1968-04-30",6.25,null,null,5.73]
["1968-05-31",6.13,null,null,5.95]
["1968-06-30",5.5,null,null,5.64]
["1968-07-31",6,null,null,5.41]
["1968-08-31",5.75,null,null,5.43]
["1968-09-30",5.5,null,null,5.46]
["1968-10-31",6,null,null,5.62]
["1968-11-30",6,null,null,5.78]
["1968-12-31",4,null,null,6.2]
["1969-01-31",6.38,null,null,6.09]
["1969-02-28",7,null,null,6.26]
["1969-03-31",6.25,null,null,6.3]
["1969-04-30",8,null,null,6.21]
["1969-05-31",9.3800000000000008,null,null,6.56]
["1969-06-30",7.5,null,null,6.66]
["1969-07-31",8.75,null,null,6.72]
["1969-08-31",9.75,null,null,6.83]
["1969-09-30",8.5,null,null,7.45]
["1969-10-31",9,null,null,7]
["1969-11-30",9.25,null,null,7.29]
["1969-12-31",5,null,null,8.0500000000000007]
["1970-01-31",9.3800000000000008,null,null,7.77]
["1970-02-28",8.5,null,null,6.9]
["1970-03-31",7.5,null,null,6.98]
["1970-04-30",8.5,null,null,7.78]
["1970-05-31",7.88,null,null,7.95]
["1970-06-30",5.75,null,null,7.76]
["1970-07-31",6.75,null,null,7.39]
["1970-08-31",6.5,null,null,7.49]
["1970-09-30",5,null,null,7.3]
["1970-10-31",6.13,null,null,7.31]
["1970-11-30",5.5,null,null,6.48]
["1970-12-31",3,null,null,6.56]
["1971-01-31",4,null,null,6.09]
["1971-02-28",3.38,null,null,6.14]
["1971-03-31",4.5,null,null,5.54]
["1971-04-30",4.25,null,null,6.07]
["1971-05-31",4.88,null,null,6.38]
["1971-06-30",4.75,null,null,6.67]
["1971-07-31",5.5,null,null,6.88]
["1971-08-31",5.75,null,null,6.33]
["1971-09-30",5.38,null,null,6.08]
["1971-10-31",5.13,null,null,5.87]
["1971-11-30",4.25,null,null,5.95]
["1971-12-31",3,null,null,5.9]
["1972-01-31",3.13,null,null,6.08]
["1972-02-29",3.25,null,null,6.04]
["1972-03-31",4,null,null,6.12]
["1972-04-30",4.3099999999999996,null,null,6.14]
["1972-05-31",4.75,null,null,6.04]
["1972-06-30",4.5,null,null,6.14]
["1972-07-31",4.5,null,null,6.12]
["1972-08-31",5.13,null,null,6.34]
["1972-09-30",4.88,null,null,6.54]
["1972-10-31",4.88,null,null,6.42]
["1972-11-30",5.19,null,null,6.27]
["1972-12-31",5.5,null,null,6.41]
["1973-01-31",6.5,null,null,6.55]
["1973-02-28",7.5,null,null,6.64]
["1973-03-31",7.38,null,null,6.68]
["1973-04-30",7.63,null,null,6.69]
["1973-05-31",8.1300000000000008,null,null,6.93]
["1973-06-30",8.8800000000000008,null,null,6.94]
["1973-07-31",11.22,null,null,7.35]
["1973-08-31",11.22,null,null,7.26]
["1973-09-30",10.82,null,null,6.9]
["1973-10-31",10.61,null,null,6.72]
["1973-11-30",10.34,null,null,6.7]
["1973-12-31",9.83,null,null,6.91]
["1974-01-31",9.31,null,null,7.02]
["1974-02-28",8.8699999999999992,null,null,7.01]
["1974-03-31",9.9499999999999993,null,null,7.41]
["1974-04-30",11,null,null,7.65]
["1974-05-31",11.64,null,null,7.52]
["1974-06-30",13.31,null,null,7.64]
["1974-07-31",12.06,null,null,7.85]
["1974-08-31",11.6,null,null,8.15]
["1974-09-30",11.11,null,null,7.94]
["1974-10-31",9.66,null,null,7.84]
["1974-11-30",9.4700000000000006,null,null,7.64]
["1974-12-31",3.87,null,null,7.39]
["1975-01-31",6.76,null,null,7.59]
["1975-02-28",6.07,null,null,7.46]
["1975-03-31",5.39,null,null,8.08]
["1975-04-30",7.03,null,null,8.34]
["1975-05-31",5.23,null,null,8.18]
["1975-06-30",5.97,null,null,7.95]
["1975-07-31",6.23,null,null,8.1300000000000008]
["1975-08-31",6.13,null,null,8.2200000000000006]
["1975-09-30",6.22,null,null,8.4600000000000009]
["1975-10-31",5.65,null,null,7.98]
["1975-11-30",5.29,null,null,8.14]
["1975-12-31",5.37,null,null,7.75]
["1976-01-31",4.84,null,null,7.82]
["1976-02-29",4.8899999999999997,null,null,7.77]
["1976-03-31",5.07,null,null,7.64]
["1976-04-30",5.0999999999999996,null,null,7.61]
["1976-05-31",5.67,null,null,7.96]
["1976-06-30",5.71,null,null,7.86]
["1976-07-31",5.32,null,null,7.85]
["1976-08-31",5.31,null,null,7.72]
["1976-09-30",5.31,null,null,7.56]
["1976-10-31",5.0199999999999996,null,null,7.42]
["1976-11-30",4.6900000000000004,null,null,7.02]
["1976-12-31",4.17,null,null,6.84]
["1977-01-31",4.6500000000000004,null,null,7.4]
["1977-02-28",4.7300000000000004,null,null,7.45]
["1977-03-31",4.72,null,null,7.47]
["1977-04-30",5.12,null,null,7.45]
["1977-05-31",5.47,null,null,7.38]
["1977-06-30",5.64,null,null,7.19]
["1977-07-31",5.86,null,null,7.42]
["1977-08-31",6.03,null,null,7.25]
["1977-09-30",6.46,null,null,7.39]
["1977-10-31",6.6,null,null,7.56]
["1977-11-30",6.56,null,null,7.55]
["1977-12-31",6.53,null,null,7.82]
["1978-01-31",6.79,null,null,7.97]
["1978-02-28",6.83,null,null,8.0399999999999991]
["1978-03-31",6.97,null,null,8.11]
["1978-04-30",7.25,null,null,8.24]
["1978-05-31",7.43,null,null,8.42]
["1978-06-30",8.01,null,null,8.57]
["1978-07-31",8,null,null,8.5500000000000007]
["1978-08-31",8.4,null,null,8.3699999999999992]
["1978-09-30",8.9,null,null,8.56]
["1978-10-31",9.35,null,null,8.7799999999999994]
["1978-11-30",9.94,null,null,8.86]
["1978-12-31",10.84,null,null,9.15]
["1979-01-31",10.57,null,null,8.9600000000000009]
["1979-02-28",10.24,null,null,9.17]
["1979-03-31",10.07,null,null,9.06]
["1979-04-30",10.43,null,null,9.32]
["1979-05-31",10.31,null,null,9.01]
["1979-06-30",10.54,null,null,8.81]
["1979-07-31",10.81,null,null,9.02]
["1979-08-31",11.29,null,null,9.14]
["1979-09-30",12.16,null,null,9.44]
["1979-10-31",14.82,null,null,10.78]
["1979-11-30",13.96,null,null,10.34]
["1979-12-31",14.77,null,null,10.41]
["1980-01-31",13.4,null,null,11.21]
["1980-02-29",16.329999999999998,null,null,12.72]
["1980-03-31",19.850000000000001,null,null,12.72]
["1980-04-30",14.64,null,null,10.67]
["1980-05-31",11.06,null,null,10.24]
["1980-06-30",10.44,null,null,10.039999999999999]
["1980-07-31",9.93,null,null,10.45]
["1980-08-31",10.74,null,null,11.55]
["1980-09-30",13.19,null,null,12.07]
["1980-10-31",13.77,null,null,12.48]
["1980-11-30",18.559999999999999,null,null,12.72]
["1980-12-31",22,null,null,12.2]
["1981-01-31",17.25,null,null,12.8]
["1981-02-28",15.53,null,null,13.43]
["1981-03-31",14.63,null,null,13.36]
["1981-04-30",18.920000000000002,null,null,14.05]
["1981-05-31",17.559999999999999,null,null,13.5]
["1981-06-30",18.64,null,null,13.68]
["1981-07-31",17.46,null,null,14.61]
["1981-08-31",16.829999999999998,null,null,15.25]
["1981-09-30",16.579999999999998,null,null,15.76]
["1981-10-31",14.44,null,null,15.06]
["1981-11-30",12.44,null,null,12.92]
["1981-12-31",13.13,null,null,14.12]
["1982-01-31",14.21,null,null,14.14]
["1982-02-28",13.74,null,null,14.03]
["1982-03-31",16.8,null,null,14.16]
["1982-04-30",15.28,null,null,13.87]
["1982-05-31",13.38,null,null,13.71]
["1982-06-30",14.58,null,null,14.61]
["1982-07-31",11.41,null,null,13.83]
["1982-08-31",10.63,null,null,12.77]
["1982-09-30",12.17,null,null,11.8]
["1982-10-31",9.41,null,null,10.71]
["1982-11-30",8.93,null,null,10.78]
["1982-12-31",11.2,null,null,10.47]
["1983-01-31",8.56,null,null,10.71]
["1983-02-28",8.5299999999999994,null,null,10.27]
["1983-03-31",10.81,null,null,10.6]
["1983-04-30",8.84,null,null,10.27]
["1983-05-31",8.94,null,null,10.62]
["1983-06-30",10.06,null,null,10.99]
["1983-07-31",9.52,null,null,11.76]
["1983-08-31",9.59,null,null,11.86]
["1983-09-30",10.59,null,null,11.5]
["1983-10-31",9.43,null,null,11.68]
["1983-11-30",9.34,null,null,11.58]
["1983-12-31",9.92,null,null,11.79]
["1984-01-31",9.35,null,null,11.63]
["1984-02-29",9.4499999999999993,null,null,12.04]
["1984-03-31",10.24,null,null,12.41]
["1984-04-30",10.9,null,null,12.79]
["1984-05-31",10.81,null,null,13.89]
["1984-06-30",10.85,null,null,13.84]
["1984-07-31",11.83,null,null,12.95]
["1984-08-31",11.64,null,null,12.83]
["1984-09-30",11.23,null,null,12.47]
["1984-10-31",9.99,null,null,11.95]
["1984-11-30",8.92,null,null,11.42]
["1984-12-31",8.74,null,null,11.46]
["1985-01-31",8.73,null,null,11.11]
["1985-02-28",8.74,null,null,11.91]
["1985-03-31",8.58,null,null,11.65]
["1985-04-30",8.58,null,null,11.47]
["1985-05-31",7.64,null,null,10.46]
["1985-06-30",7.95,null,null,10.25]
["1985-07-31",8.61,null,null,10.67]
["1985-08-31",7.8,null,null,10.119999999999999]
["1985-09-30",8.84,null,null,10.220000000000001]
["1985-10-31",8.08,null,null,10.11]
["1985-11-30",8.5399999999999991,null,null,9.59]
["1985-12-31",7.75,null,null,8.99]
["1986-01-31",7.75,null,null,9.09]
["1986-02-28",7.75,null,null,8.1300000000000008]
["1986-03-31",7.25,null,null,7.49]
["1986-04-30",6.75,null,null,7.38]
["1986-05-31",6.8125,null,null,7.99]
["1986-06-30",6.875,null,null,7.38]
["1986-07-31",6.375,null,null,7.41]
["1986-08-31",5.875,null,null,6.95]
["1986-09-30",5.875,null,null,7.54]
["1986-10-31",5.875,null,null,7.41]
["1986-11-30",5.875,null,null,7.15]
["1986-12-31",5.875,null,null,7.17]
["1987-01-31",6,null,null,7.13]
["1987-02-28",6,null,null,7.19]
["1987-03-31",6,null,null,7.33]
["1987-04-30",6.5,null,null,8.35]
["1987-05-31",6.75,null,null,8.49]
["1987-06-30",6.75,null,null,8.34]
["1987-07-31",6.625,null,null,8.61]
["1987-08-31",6.75,null,null,9.0090000000000003]
["1987-09-30",7.3125,null,null,9.6319999999999997]
["1987-10-31",7.3125,null,null,8.9130000000000003]
["1987-11-30",6.8125,null,null,9.077]
["1987-12-31",6.8125,null,null,8.8580000000000005]
["1988-01-31",6.625,null,null,8.2720000000000002]
["1988-02-29",6.5,null,null,8.1519999999999992]
["1988-03-31",6.75,null,null,8.5449999999999999]
["1988-04-30",6.75,null,null,8.8670000000000009]
["1988-05-31",7.25,null,null,9.2420000000000009]
["1988-06-30",7.4375,null,null,8.8719999999999999]
["1988-07-31",7.6875,null,null,9.1189999999999998]
["1988-08-31",8.125,null,null,9.3030000000000008]
["1988-09-30",8.125,null,null,8.9809999999999999]
["1988-10-31",8.125,null,null,8.6839999999999993]
["1988-11-30",8.375,null,null,9.1359999999999992]
["1988-12-31",8.6875,null,null,9.1850000000000005]
["1989-01-31",9,null,null,8.9589999999999996]
["1989-02-28",9.75,null,null,9.3230000000000004]
["1989-03-31",9.75,null,null,9.3640000000000008]
["1989-04-30",9.75,null,null,9.0180000000000007]
["1989-05-31",9.8125,null,null,8.6539999999999999]
["1989-06-30",9.5625,null,null,8.1140000000000008]
["1989-07-31",9.0625,null,null,7.8570000000000002]
["1989-08-31",9.0625,null,null,8.2650000000000006]
["1989-09-30",9.0625,null,null,8.3030000000000008]
["1989-10-31",8.75,null,null,7.9370000000000003]
["1989-11-30",8.5,null,null,7.8739999999999997]
["1989-12-31",8.25,null,null,7.9329999999999998]
["1990-01-31",8.25,null,null,8.516]
["1990-02-28",8.25,null,null,8.5269999999999992]
["1990-03-31",8.25,null,null,8.6210000000000004]
["1990-04-30",8.25,null,null,9.0730000000000004]
["1990-05-31",8.25,null,null,8.6419999999999995]
["1990-06-30",8.25,null,null,8.423]
["1990-07-31",8,null,null,8.4250000000000007]
["1990-08-31",8,null,null,8.8089999999999993]
["1990-09-30",8,null,null,8.81]
["1990-10-31",7.75,null,null,8.6989999999999998]
["1990-11-30",7.5,null,null,8.3450000000000006]
["1990-12-31",7,null,null,8.1270000000000007]
["1991-01-31",6.75,null,null,8.0389999999999997]
["1991-02-28",6.25,null,null,8.0449999999999999]
["1991-03-31",6,null,null,8.0640000000000001]
["1991-04-30",5.75,null,null,8.07]
["1991-05-31",5.75,null,null,8.0690000000000008]
["1991-06-30",5.75,null,null,8.2319999999999993]
["1991-07-31",5.75,null,null,8.1950000000000003]
["1991-08-31",5.5,null,null,7.742]
["1991-09-30",5.25,null,null,7.4880000000000004]
["1991-10-31",5,null,null,7.4939999999999998]
["1991-11-30",4.75,null,null,7.3739999999999997]
["1991-12-31",4,null,null,6.819]
["1992-01-31",4,null,null,7.2409999999999997]
["1992-02-29",4,null,null,7.2519999999999998]
["1992-03-31",4,null,null,7.5209999999999999]
["1992-04-30",3.75,null,null,7.5839999999999996]
["1992-05-31",3.75,null,null,7.3220000000000001]
["1992-06-30",3.75,null,null,7.1059999999999999]
["1992-07-31",3.25,null,null,6.6159999999999997]
["1992-08-31",3.25,null,null,6.6260000000000003]
["1992-09-30",3,null,null,6.3650000000000002,7.4720000000000004,13.51]
["1992-10-31",3,null,null,6.6719999999999997,7.3520000000000003,12.464]
["1992-11-30",3,null,null,6.9139999999999997,7.3550000000000004,12.728]
["1992-12-31",3,null,null,6.64,7.1980000000000004,12.516]
["1993-01-31",3,null,null,6.3609999999999998,7.069,11.86]
["1993-02-28",3,null,null,6.0140000000000002,6.71,11.67]
["1993-03-31",3,null,null,6.0369999999999999,6.673,11.38]
["1993-04-30",3,null,null,5.9630000000000001,6.7910000000000004,11.65]
["1993-05-31",3,null,null,6.11,6.9,10.968999999999999]
["1993-06-30",3,null,null,5.766,6.617,10.167]
["1993-07-31",3,null,null,5.7869999999999999,6.5469999999999997,10.005000000000001]
["1993-08-31",3,null,null,5.4779999999999998,6.1749999999999998,8.8829999999999991]
["1993-09-30",3,null,null,5.3460000000000001,6.0970000000000004,9.0640000000000001]
["1993-10-31",3,null,null,5.42,5.891,8.4239999999999995]
["1993-11-30",3,null,null,5.74,5.8780000000000001,8.5609999999999999]
["1993-12-31",3,null,null,5.694,5.532,8.0090000000000003]
["1994-01-31",3,null,null,5.6340000000000003,5.694,7.75]
["1994-02-28",3.25,null,null,6.133,6.1059999999999999,8.6300000000000008]
["1994-03-31",3.5,null,null,6.71,6.3280000000000003,9.0500000000000007]
["1994-04-30",3.75,null,null,7.04,6.5510000000000002,9.19]
["1994-05-31",4.25,null,null,7.1139999999999999,6.952,9.84]
["1994-06-30",4.25,null,null,7.23,7.0819999999999999,10.51]
["1994-07-31",4.25,null,null,7.1020000000000003,6.8230000000000004,10.41]
["1994-08-31",4.75,null,null,7.2359999999999998,7.2249999999999996,10.97]
["1994-09-30",4.75,null,null,7.62,7.5979999999999999,11.138999999999999]
["1994-10-31",4.75,null,null,7.7949999999999999,7.6319999999999997,11.116]
["1994-11-30",5.5,null,null,7.9320000000000004,7.319,11.132999999999999]
["1994-12-31",5.5,null,null,7.7969999999999997,7.6210000000000004,11.779]
["1995-01-31",5.5,null,null,7.6159999999999997,7.4379999999999997,11.738]
["1995-02-28",6,null,null,7.2060000000000004,7.3620000000000001,11.760999999999999]
["1995-03-31",6,null,null,7.1280000000000001,7.1890000000000001,12.272]
["1995-04-30",6,null,null,7.0529999999999999,7.0389999999999997,11.997]
["1995-05-31",6,null,null,6.24,6.6470000000000002,11.583]
["1995-06-30",6,null,null,6.2460000000000004,6.94,11.786]
["1995-07-31",5.75,null,null,6.4610000000000003,6.7850000000000001,11.247]
["1995-08-31",5.75,null,null,6.3540000000000001,6.7149999999999999,11.07]
["1995-09-30",5.75,null,null,6.165,6.6029999999999998,10.932]
["1995-10-31",5.75,null,null,6.0369999999999999,6.44,10.85]
["1995-11-30",5.75,null,null,5.8289999999999997,6.1689999999999996,10.298999999999999]
["1995-12-31",5.5,null,null,5.5739999999999998,6.0309999999999997,9.7360000000000007]
["1996-01-31",5.25,null,null,5.6779999999999999,5.8959999999999999,9.5679999999999996]
["1996-02-29",5.25,null,null,6.1029999999999998,6.3879999999999999,9.6539999999999999]
["1996-03-31",5.25,null,null,6.3230000000000004,6.4379999999999997,9.7309999999999999]
["1996-04-30",5.25,null,null,6.5830000000000002,6.3390000000000004,9.1359999999999992]
["1996-05-31",5.25,null,null,6.77,6.4960000000000004,9.1959999999999997]
["1996-06-30",5.25,null,null,6.7140000000000004,6.5049999999999999,8.8209999999999997]
["1996-07-31",5.25,null,null,6.9160000000000004,6.3730000000000002,8.9060000000000006]
["1996-08-31",5.25,null,null,6.8040000000000003,6.3860000000000001,8.8480000000000008]
["1996-09-30",5.25,null,null,6.6769999999999996,6.0960000000000001,7.9180000000000001]
["1996-10-31",5.25,null,null,6.3819999999999997,6,7.7880000000000003]
["1996-11-30",5.25,null,null,6.0439999999999996,5.6440000000000001,7.0259999999999998]
["1996-12-31",5.25,null,null,6.2889999999999997,5.7789999999999999,6.8040000000000003]
["1997-01-31",5.25,null,null,6.6150000000000002,5.7510000000000003,6.6920000000000002]
["1997-02-28",5.25,null,null,6.548,5.5209999999999999,6.91]
["1997-03-31",5.5,null,null,6.8970000000000002,6.0049999999999999,7.1310000000000002]
["1997-04-30",5.5,null,null,6.758,5.827,6.8630000000000004]
["1997-05-31",5.5,null,null,6.742,5.9210000000000003,6.6849999999999996]
["1997-06-30",5.5,null,null,6.4530000000000003,5.71,6.37]
["1997-07-31",5.5,null,null,6.0979999999999999,5.52,6.18]
["1997-08-31",5.5,null,null,6.335,5.6970000000000001,6.33]
["1997-09-30",5.5,null,null,6.0940000000000003,5.5220000000000002,5.8819999999999997]
["1997-10-31",5.5,null,null,5.8819999999999997,5.5970000000000004,6.04]
["1997-11-30",5.5,null,null,5.8630000000000004,5.4539999999999997,5.8]
["1997-12-31",5.5,null,null,5.7590000000000003,5.3609999999999998,5.6319999999999997]
["1998-01-31",5.5,null,null,5.5640000000000001,5.0529999999999999,5.3289999999999997]
["1998-02-28",5.5,null,null,5.6239999999999997,4.9710000000000001,5.1760000000000002]
["1998-03-31",5.5,null,null,5.6829999999999998,4.9210000000000003,5.1029999999999998]
["1998-04-30",5.5,null,null,5.8070000000000004,4.9800000000000004,5.23]
["1998-05-31",5.5,null,null,5.5540000000000003,4.867,5.0510000000000002]
["1998-06-30",5.5,null,null,5.4550000000000001,4.7839999999999998,5.016]
["1998-07-31",5.5,null,null,5.524,4.625,4.899]
["1998-08-31",5.5,null,null,5.0620000000000003,4.2130000000000001,4.6660000000000004]
["1998-09-30",5.25,null,null,4.5659999999999998,3.831,4.2729999999999997]
["1998-10-31",5,null,null,4.4989999999999997,4.1630000000000003,4.4790000000000001]
["1998-11-30",4.75,null,null,4.8079999999999998,3.96,4.2549999999999999]
["1998-12-31",4.75,null,null,4.6740000000000004,3.86,3.9820000000000002]
["1999-01-31",4.75,3,null,4.649,3.6459999999999999,3.831]
["1999-02-28",4.75,3,null,5.2770000000000001,4.0149999999999997,4.2329999999999997]
["1999-03-31",4.75,3,null,5.2590000000000003,4.0039999999999996,4.2560000000000002]
["1999-04-30",4.75,2.5,null,5.2089999999999996,3.911,4.133]
["1999-05-31",4.75,2.5,null,5.62,4.1159999999999997,4.4160000000000004]
["1999-06-30",5,2.5,null,5.9240000000000004,4.4850000000000003,4.774]
["1999-07-31",5,2.5,null,5.8719999999999999,4.8090000000000002,5.1550000000000002]
["1999-08-31",5.25,2.5,null,5.8449999999999998,4.9029999999999996,5.21]
["1999-09-30",5.25,2.5,null,5.9589999999999996,5.0819999999999999,5.3540000000000001]
["1999-10-31",5.25,2.5,null,6.0179999999999998,5.157,5.3810000000000002]
["1999-11-30",5.5,3,null,6.2,5.1340000000000003,5.3780000000000001]
["1999-12-31",5.5,3,null,6.3860000000000001,5.4989999999999997,5.5720000000000001]
["2000-01-31",5.5,3,null,6.6369999999999996,5.5380000000000003,5.774]
["2000-02-29",5.75,3.25,null,6.4089999999999998,5.5,5.7249999999999996]
["2000-03-31",6,3.5,null,6.157,5.2169999999999996,5.4470000000000001]
["2000-04-30",6,3.75,null,6.2140000000000004,5.3019999999999996,5.5270000000000001]
["2000-05-31",6.5,3.75,null,6.3220000000000001,5.2080000000000002,5.4669999999999996]
["2000-06-30",6.5,4.25,null,6.0309999999999997,5.2030000000000003,5.5529999999999999]
["2000-07-31",6.5,4.25,null,6.0330000000000004,5.2030000000000003,5.4870000000000001]
["2000-08-31",6.5,4.25,null,5.806,5.2960000000000003,5.6159999999999997]
["2000-09-30",6.5,4.5,null,5.7830000000000004,5.2290000000000001,5.5309999999999997,null,"CENTRAL BANK INTEREST RATES"]
["2000-10-31",6.5,4.75,null,5.7110000000000003,5.2169999999999996,5.5069999999999997,null,null,"USA","EU"]
["2000-11-30",6.5,4.75,null,5.5259999999999998,5.0069999999999997,5.2750000000000004,null,"Avg 99-2008",{"$f":"AVERAGE(B537:B656)","v":3.4343750000000002},{"$f":"AVERAGE(C537:C656)","v":3.0979166666666669}]
["2000-12-31",6.5,4.75,null,5.1100000000000003,4.8410000000000002,5.149,null,"Avg 09-23",{"$f":"AVERAGE(B657:B832)","v":0.81534090909090906},{"$f":"AVERAGE(C657:C832)","v":0.55596590909090871}]
["2001-01-31",5.5,4.75,null,5.2990000000000004,4.7949999999999999,5.0730000000000004]
["2001-02-28",5.5,4.75,null,4.9039999999999999,4.7590000000000003,5.048]
["2001-03-31",5,4.75,null,4.9989999999999997,4.702,4.9569999999999999]
["2001-04-30",4.5,4.75,null,5.3239999999999998,5.0330000000000004,5.343]
["2001-05-31",4,4.5,null,5.5129999999999999,5.173,5.45]
["2001-06-30",3.75,4.5,null,5.3650000000000002,5.1029999999999998,5.4219999999999997]
["2001-07-31",3.75,4.5,null,5.0960000000000001,4.88,5.1840000000000002]
["2001-08-31",3.5,4.25,null,4.766,4.7859999999999996,5.0869999999999997]
["2001-09-30",3,3.75,null,4.5819999999999999,4.7859999999999996,5.09]
["2001-10-31",2.5,3.75,null,4.4820000000000002,4.399,4.6440000000000001]
["2001-11-30",2,3.25,null,4.7619999999999996,4.5590000000000002,4.8410000000000002]
["2001-12-31",1.75,3.25,null,5.1109999999999998,5.0010000000000003,5.1790000000000003]
["2002-01-31",1.75,3.25,null,4.9400000000000004,4.9130000000000003,5.0730000000000004]
["2002-02-28",1.75,3.25,null,4.8739999999999997,4.9459999999999997,5.1139999999999999]
["2002-03-31",1.75,3.25,null,5.4020000000000001,5.2530000000000001,5.4169999999999998]
["2002-04-30",1.75,3.25,null,5.1070000000000002,5.1340000000000003,5.2990000000000004]
["2002-05-31",1.75,3.25,null,5.0650000000000004,5.1840000000000002,5.3449999999999998]
["2002-06-30",1.75,3.25,null,4.8090000000000002,4.9489999999999998,5.1219999999999999]
["2002-07-31",1.75,3.25,null,4.5350000000000001,4.7549999999999999,4.9119999999999999]
["2002-08-31",1.75,3.25,null,4.1420000000000003,4.5549999999999997,4.7030000000000003]
["2002-09-30",1.75,3.25,null,3.6619999999999999,4.2679999999999998,4.4580000000000002]
["2002-10-31",1.75,3.25,null,3.9369999999999998,4.4749999999999996,4.5999999999999996]
["2002-11-30",1.25,3.25,null,4.2110000000000003,4.4829999999999997,4.5640000000000001]
["2002-12-31",1.25,2.75,null,3.8109999999999999,4.1890000000000001,4.2670000000000003]
["2003-01-31",1.25,2.75,null,4.0229999999999997,4.0750000000000002,4.1210000000000004]
["2003-02-28",1.25,2.75,null,3.6920000000000002,3.8969999999999998,3.9079999999999999]
["2003-03-31",1.25,2.5,null,3.9,4.0369999999999999,4.0410000000000004]
["2003-04-30",1.25,2.5,null,3.931,4.0679999999999996,4.1529999999999996]
["2003-05-31",1.25,2.5,null,3.3330000000000002,3.6930000000000001,3.79]
["2003-06-30",1,2,null,3.5430000000000001,3.7970000000000002,3.8679999999999999,null,"USA","GER","SPA",null,null,"DEUDA PUBLICA 2022"]
["2003-07-31",1,2,null,4.4370000000000003,4.2050000000000001,4.2489999999999997,"Avg 99-08",{"$f":"AVERAGE(E537:E656)","v":4.6778583333333321},{"$f":"AVERAGE(F537:F656)","v":4.2876749999999975},4.4391333333333352,null,null,"Deuda%","Deuda bill","PIB"]
["2003-08-31",1,2,null,4.4630000000000001,4.1669999999999998,4.1989999999999998,"Min",{"$f":"MIN(E537:E656)","v":2.101},{"$f":"MIN(F537:F656)","v":2.944},3.0779999999999998,null,"Spain",113,1502,{"$f":"O592/N592*100","v":1329.2035398230089},{"$f":"O592/P592","v":1.1299999999999999}]
["2003-09-30",1,2,null,4.0780000000000003,4.01,4.0270000000000001,"Max",{"$f":"MAX(E537:E656)","v":6.6369999999999996},{"$f":"MAX(F537:F656)","v":5.5380000000000003},5.774,null,"Germany",66,2563,{"$f":"O593/N593*100","v":3883.3333333333335},{"$f":"O593/P593","v":0.65999999999999992}]
["2003-10-31",1,2,null,4.2969999999999997,4.3280000000000003,4.3250000000000002,null,null,null,null,null,"France",102,2990,2931.3725490196075,1.02]
["2003-11-30",1,2,null,4.33,4.468,4.4619999999999997,"Avg 99-08",{"$f":"AVERAGE(E657:E832)","v":2.3784999999999998},{"$f":"AVERAGE(F657:F832)","v":1.1057329545454551},2.6461306818181831,null,"UK",111,2950,2657.6576576576576,1.1100000000000001]
["2003-12-31",1,2,null,4.242,4.3010000000000002,4.2910000000000004,"Min",{"$f":"MIN(E657:E832)","v":0.58099999999999996},{"$f":"MIN(F657:F832)","v":-0.70699999999999996},5.5E-2,null,"Italy",144,2757,1914.5833333333333,1.44]
["2004-01-31",1,2,null,4.1840000000000002,4.2359999999999998,4.2370000000000001,"Max",{"$f":"MAX(E657:E832)","v":4.1120000000000001},{"$f":"MAX(F657:F832)","v":3.5950000000000002},6.75,null,"TOTAL",{"$f":"AVERAGE(N592:N596)","v":107.2},{"$f":"SUM(O592:O596)","v":12762},{"$f":"SUM(P592:P596)","v":12716.150413166941}]
["2004-02-29",1,2,null,3.9780000000000002,4.0380000000000003,4.0330000000000004]
["2004-03-31",1,2,null,3.891,3.9209999999999998,4.0069999999999997,"August 2023",4.1120000000000001,2.4710000000000001,3.488]
["2004-04-30",1,2,null,4.5389999999999997,4.2130000000000001,4.2270000000000003]
["2004-05-31",1,2,null,4.657,4.3760000000000003,4.4029999999999996]
["2004-06-30",1.25,2,null,4.6920000000000002,4.3129999999999997,4.3289999999999997]
["2004-07-31",1.25,2,null,4.5780000000000003,4.2140000000000004,4.2370000000000001]
["2004-08-31",1.5,2,null,4.2309999999999999,4.0179999999999998,4.0469999999999997]
["2004-09-30",1.75,2,null,4.0919999999999996,3.9870000000000001,4.0049999999999999]
["2004-10-31",1.75,2,null,4.0289999999999999,3.8679999999999999,3.875]
["2004-11-30",2,2,null,4.3280000000000003,3.786,3.7389999999999999]
["2004-12-31",2.25,2,null,4.3239999999999998,3.6859999999999999,3.7170000000000001]
["2005-01-31",2.25,2,null,4.1390000000000002,3.5329999999999999,3.5590000000000002]
["2005-02-28",2.5,2,null,4.3680000000000003,3.718,3.7450000000000001]
["2005-03-31",2.75,2,null,4.5860000000000003,3.6259999999999999,3.645]
["2005-04-30",2.75,2,null,4.1989999999999998,3.3929999999999998,3.4329999999999998]
["2005-05-31",3,2,null,4.0720000000000001,3.28,3.266]
["2005-06-30",3.25,2,null,3.9860000000000002,3.1349999999999998,3.109]
["2005-07-31",3.25,2,null,4.282,3.2349999999999999,3.2320000000000002]
["2005-08-31",3.5,2,null,4.1740000000000004,3.1070000000000002,3.0779999999999998]
["2005-09-30",3.75,2,null,4.2969999999999997,3.145,3.1379999999999999]
["2005-10-31",3.75,2,null,4.5730000000000004,3.3889999999999998,3.3660000000000001]
["2005-11-30",4,2,null,4.4820000000000002,3.4430000000000001,3.472]
["2005-12-31",4.25,2.25,null,4.367,3.2989999999999999,3.3210000000000002]
["2006-01-31",4.5,2.25,null,4.508,3.4729999999999999,3.484]
["2006-02-28",4.5,2.25,null,4.5490000000000004,3.492,3.5089999999999999]
["2006-03-31",4.75,2.5,null,4.8090000000000002,3.774,3.806]
["2006-04-30",4.75,2.5,null,5.0670000000000002,3.964,3.9660000000000002]
["2006-05-31",5,2.5,null,5.0540000000000003,3.96,3.9849999999999999]
["2006-06-30",5.25,2.75,null,5.2030000000000003,4.08,4.0579999999999998]
["2006-07-31",5.25,2.75,null,4.99,3.9220000000000002,3.9220000000000002]
["2006-08-31",5.25,3,null,4.7859999999999996,3.7679999999999998,3.76]
["2006-09-30",5.25,3,null,4.6340000000000003,3.698,3.72]
["2006-10-31",5.25,3.25,null,4.6760000000000002,3.7530000000000001,3.786]
["2006-11-30",5.25,3.25,null,4.524,3.6909999999999998,3.7309999999999999]
["2006-12-31",5.25,3.5,null,4.7039999999999997,3.9529999999999998,4.0140000000000002]
["2007-01-31",5.25,3.5,null,4.8940000000000001,4.0999999999999996,4.1529999999999996]
["2007-02-28",5.25,3.5,null,4.5540000000000003,3.96,4.0060000000000002]
["2007-03-31",5.25,3.75,null,4.6349999999999998,4.0469999999999997,4.1100000000000003]
["2007-04-30",5.25,3.75,null,4.7,4.1520000000000001,4.2060000000000004]
["2007-05-31",5.25,3.75,null,4.8849999999999998,4.4050000000000002,4.4560000000000004]
["2007-06-30",5.25,4,null,5.0279999999999996,4.5620000000000003,4.6219999999999999]
["2007-07-31",5.25,4,null,4.7649999999999997,4.3449999999999998,4.4429999999999996]
["2007-08-31",5.25,4,null,4.5570000000000004,4.2530000000000001,4.3579999999999997]
["2007-09-30",4.75,4,null,4.5869999999999997,4.3369999999999997,4.415]
["2007-10-31",4.5,4,null,4.383,4.2290000000000001,4.3550000000000004]
["2007-11-30",4.5,4,null,3.9390000000000001,4.1130000000000004,4.3029999999999999]
["2007-12-31",4.25,4,null,4.0869999999999997,4.3239999999999998,4.4059999999999997]
["2008-01-31",3,4,null,3.67,3.9430000000000001,4.0890000000000004]
["2008-02-29",3,4,null,3.524,3.9209999999999998,4.149]
["2008-03-31",2.25,4,null,3.4409999999999998,3.9060000000000001,4.2320000000000002]
["2008-04-30",2,4,null,3.823,4.125,4.4000000000000004]
["2008-05-31",2,4,null,4.0789999999999997,4.4400000000000004,4.633]
["2008-06-30",2,4,null,3.9729999999999999,4.6230000000000002,4.9050000000000002]
["2008-07-31",2,4.25,null,4.0439999999999996,4.38,4.6719999999999997]
["2008-08-31",2,4.25,null,3.827,4.1639999999999997,4.5389999999999997]
["2008-09-30",2,4.25,null,3.585,4.0110000000000001,4.5839999999999996]
["2008-10-31",1,3.75,null,3.8620000000000001,3.8540000000000001,4.6189999999999998]
["2008-11-30",1,3.25,null,2.9239999999999999,3.2480000000000002,3.8809999999999998]
["2008-12-31",0.125,2.5,null,2.101,2.944,3.8220000000000001]
["2009-01-31",0.125,2,null,2.8620000000000001,3.2890000000000001,4.3970000000000002]
["2009-02-28",0.125,2,null,3.0169999999999999,3.1019999999999999,4.3019999999999996]
["2009-03-31",0.125,1.5,null,2.7639999999999998,3.0019999999999998,4.0590000000000002]
["2009-04-30",0.125,1.25,null,3.113,3.1890000000000001,3.9260000000000002]
["2009-05-31",0.125,1,null,3.4609999999999999,3.5950000000000002,4.3780000000000001]
["2009-06-30",0.125,1,null,3.4790000000000001,3.3809999999999998,4.1349999999999998]
["2009-07-31",0.125,1,null,3.6640000000000001,3.3359999999999999,3.8330000000000002]
["2009-08-31",0.125,1,null,3.4489999999999998,3.2440000000000002,3.7690000000000001]
["2009-09-30",0.125,1,null,3.2930000000000001,3.2269999999999999,3.8119999999999998]
["2009-10-31",0.125,1,null,3.496,3.2480000000000002,3.7919999999999998]
["2009-11-30",0.125,1,null,3.2069999999999999,3.1549999999999998,3.746]
["2009-12-31",0.125,1,null,3.7989999999999999,3.3980000000000001,3.992]
["2010-01-31",0.125,1,null,3.5840000000000001,3.1989999999999998,4.1360000000000001]
["2010-02-28",0.125,1,null,3.617,3.109,3.87]
["2010-03-31",0.125,1,null,3.8679999999999999,3.0950000000000002,3.8170000000000002]
["2010-04-30",0.125,1,null,3.7320000000000002,2.98,4.0369999999999999]
["2010-05-31",0.125,1,null,3.3029999999999999,2.6680000000000001,4.3129999999999997]
["2010-06-30",0.125,1,null,2.9529999999999998,2.5750000000000002,4.5869999999999997]
["2010-07-31",0.125,1,null,2.9870000000000001,2.6789999999999998,4.2329999999999997]
["2010-08-31",0.125,1,null,2.6469999999999998,2.109,4.0629999999999997]
["2010-09-30",0.125,1,null,2.5009999999999999,2.286,4.1340000000000003]
["2010-10-31",0.125,1,null,2.6030000000000002,2.5099999999999998,4.2]
["2010-11-30",0.125,1,null,2.8260000000000001,2.6819999999999999,5.5919999999999996]
["2010-12-31",0.125,1,null,3.3570000000000002,2.9580000000000002,5.4560000000000004]
["2011-01-31",0.125,1,null,3.3290000000000002,3.1680000000000001,5.3929999999999998]
["2011-02-28",0.125,1,null,3.4220000000000002,3.1659999999999999,5.3840000000000003]
["2011-03-31",0.125,1,null,3.4870000000000001,3.3650000000000002,5.3040000000000003]
["2011-04-30",0.125,1.25,null,3.29,3.2410000000000001,5.28]
["2011-05-31",0.125,1.25,null,3.0720000000000001,3.0289999999999999,5.3689999999999998]
["2011-06-30",0.125,1.25,null,3.121,3.012,5.4340000000000002]
["2011-07-31",0.125,1.5,null,2.7930000000000001,2.544,6.0839999999999996]
["2011-08-31",0.125,1.5,null,2.2639999999999998,2.2210000000000001,5.0609999999999999]
["2011-09-30",0.125,1.5,null,2.0019999999999998,1.8859999999999999,5.1369999999999996]
["2011-10-31",0.125,1.5,null,2.3239999999999998,2.0369999999999999,5.5750000000000002]
["2011-11-30",0.125,1.25,null,1.988,2.2810000000000001,6.335]
["2011-12-31",0.125,1,null,1.899,1.8160000000000001,5.1150000000000002]
["2012-01-31",0.125,1,null,1.891,1.8089999999999999,5.0039999999999996]
["2012-02-29",0.125,1,null,1.974,1.8340000000000001,4.97]
["2012-03-31",0.125,1,null,2.1589999999999998,1.8049999999999999,5.3460000000000001]
["2012-04-30",0.125,1,null,1.9359999999999999,1.6639999999999999,5.7809999999999997]
["2012-05-31",0.125,1,null,1.748,1.2190000000000001,6.5209999999999999]
["2012-06-30",0.125,1,null,1.643,1.605,6.45]
["2012-07-31",0.125,0.75,null,1.5449999999999999,1.292,6.7130000000000001]
["2012-08-31",0.125,0.75,null,1.6519999999999999,1.347,6.75]
["2012-09-30",0.125,0.75,null,1.633,1.423,5.9619999999999997]
["2012-10-31",0.125,0.75,null,1.7210000000000001,1.4830000000000001,5.6440000000000001]
["2012-11-30",0.125,0.75,null,1.62,1.37,5.3579999999999997]
["2012-12-31",0.125,0.75,null,1.7010000000000001,1.3049999999999999,5.3120000000000003]
["2013-01-31",0.125,0.75,null,1.9650000000000001,1.681,5.2320000000000002]
["2013-02-28",0.125,0.75,null,1.881,1.46,5.1280000000000001]
["2013-03-31",0.125,0.75,null,1.8520000000000001,1.28,5.0570000000000004]
["2013-04-30",0.125,0.75,null,1.667,1.2070000000000001,4.117]
["2013-05-31",0.125,0.5,null,2.1190000000000002,1.514,4.4459999999999997]
["2013-06-30",0.125,0.5,null,2.4740000000000002,1.73,4.7839999999999998]
["2013-07-31",0.125,0.5,null,2.5990000000000002,1.6759999999999999,4.66]
["2013-08-31",0.125,0.5,null,2.762,1.86,4.5259999999999998]
["2013-09-30",0.125,0.5,null,2.6280000000000001,1.78,4.3140000000000001]
["2013-10-31",0.125,0.5,null,2.5030000000000001,1.6779999999999999,4.0579999999999998]
["2013-11-30",0.125,0.25,null,2.7410000000000001,1.6930000000000001,4.1219999999999999]
["2013-12-31",0.125,0.25,null,3.0059999999999998,1.9410000000000001,4.1449999999999996]
["2014-01-31",0.125,0.25,null,2.6749999999999998,1.657,3.6720000000000002]
["2014-02-28",0.125,0.25,null,2.66,1.627,3.5169999999999999]
["2014-03-31",0.125,0.25,null,2.7229999999999999,1.57,3.2429999999999999]
["2014-04-30",0.125,0.25,null,2.6970000000000001,1.47,3.036]
["2014-05-31",0.125,0.25,null,2.4700000000000002,1.355,2.8570000000000002]
["2014-06-30",0.125,0.15,null,2.536,1.252,2.6680000000000001]
["2014-07-31",0.125,0.15,null,2.4620000000000002,1.1659999999999999,2.5219999999999998]
["2014-08-31",0.125,0.15,null,2.3450000000000002,0.88800000000000001,2.226]
["2014-09-30",0.125,0.05,null,2.4790000000000001,0.94599999999999995,2.1619999999999999]
["2014-10-31",0.125,0.05,null,2.3210000000000002,0.84699999999999998,2.1070000000000002]
["2014-11-30",0.125,0.05,null,2.173,0.70199999999999996,1.913]
["2014-12-31",0.125,0.05,null,2.2040000000000002,0.54100000000000004,1.61]
["2015-01-31",0.125,0.05,null,1.756,0.314,1.4490000000000001]
["2015-02-28",0.125,0.05,null,1.996,0.32400000000000001,1.26]
["2015-03-31",0.125,0.05,null,1.96,0.185,1.2350000000000001]
["2015-04-30",0.125,0.05,null,2.0459999999999998,0.36299999999999999,1.508]
["2015-05-31",0.125,0.05,null,2.1230000000000002,0.48599999999999999,1.8420000000000001]
["2015-06-30",0.125,0.05,null,2.3279999999999998,0.77,2.274]
["2015-07-31",0.125,0.05,null,2.2890000000000001,0.64700000000000002,1.845]
["2015-08-31",0.125,0.05,null,2.1840000000000002,0.79400000000000004,2.0960000000000001]
["2015-09-30",0.125,0.05,null,2.06,0.59,1.89]
["2015-10-31",0.125,0.05,null,2.1720000000000002,0.52500000000000002,1.675]
["2015-11-30",0.125,0.05,null,2.222,0.47499999999999998,1.5309999999999999]
["2015-12-31",0.375,0.05,null,2.3069999999999999,0.63400000000000001,1.7809999999999999]
["2016-01-31",0.375,0.05,null,1.93,0.33500000000000002,1.5169999999999999]
["2016-02-29",0.375,0.05,null,1.74,0.109,1.528]
["2016-03-31",0.375,0,null,1.8120000000000001,0.155,1.4379999999999999]
["2016-04-30",0.375,0,null,1.819,0.28000000000000003,1.6]
["2016-05-31",0.375,0,null,1.835,0.14699999999999999,1.486]
["2016-06-30",0.375,0,null,1.476,-0.127,1.2290000000000001]
["2016-07-31",0.375,0,null,1.458,-0.12,1.016]
["2016-08-31",0.375,0,null,1.5660000000000001,-6.0999999999999999E-2,1.0109999999999999]
["2016-09-30",0.375,0,null,1.556,-0.11700000000000001,0.88300000000000001]
["2016-10-31",0.375,0,null,1.845,0.16600000000000001,1.216]
["2016-11-30",0.375,0,null,2.302,0.27900000000000003,1.5489999999999999]
["2016-12-31",0.625,0,null,2.4769999999999999,0.20699999999999999,1.391]
["2017-01-31",0.625,0,null,2.4809999999999999,0.437,1.6060000000000001]
["2017-02-28",0.625,0,null,2.3580000000000001,0.20599999999999999,1.6419999999999999]
["2017-03-31",0.875,0,null,2.387,0.33,1.655]
["2017-04-30",0.875,0,null,2.282,0.32700000000000001,1.6459999999999999]
["2017-05-31",0.875,0,null,2.25,0.3,1.5289999999999999]
["2017-06-30",1.125,0,null,2.2669999999999999,0.47,1.5269999999999999]
["2017-07-31",1.125,0,null,2.2869999999999999,0.53100000000000003,1.492]
["2017-08-31",1.125,0,null,2.1360000000000001,0.36299999999999999,1.4450000000000001]
["2017-09-30",1.125,0,null,2.3260000000000001,0.46100000000000002,1.615]
["2017-10-31",1.125,0,null,2.4279999999999999,0.36299999999999999,1.4590000000000001]
["2017-11-30",1.125,0,null,2.3759999999999999,0.376,1.4490000000000001]
["2017-12-31",1.375,0,null,2.411,0.42399999999999999,1.5660000000000001]
["2018-01-31",1.375,0,null,2.6989999999999998,0.69299999999999995,1.4159999999999999]
["2018-02-28",1.375,0,null,2.8679999999999999,0.66200000000000003,1.5369999999999999]
["2018-03-31",1.625,0,null,2.7440000000000002,0.49399999999999999,1.1619999999999999]
["2018-04-30",1.625,0,null,2.9569999999999999,0.56299999999999994,1.2769999999999999]
["2018-05-31",1.625,0,null,2.7679999999999998,0.34300000000000003,1.4970000000000001]
["2018-06-30",1.875,0,null,2.851,0.308,1.33]
["2018-07-31",1.875,0,null,2.9620000000000002,0.443,1.4139999999999999]
["2018-08-31",1.875,0,null,2.8820000000000001,0.33200000000000002,1.4890000000000001]
["2018-09-30",2.125,0,null,3.056,0.47399999999999998,1.508]
["2018-10-31",2.125,0,null,3.0870000000000002,0.38400000000000001,1.5649999999999999]
["2018-11-30",2.125,0,null,3.0350000000000001,0.309,1.5129999999999999]
["2018-12-31",2.375,0,null,2.738,0.246,1.4219999999999999]
["2019-01-31",2.375,0,null,2.7120000000000002,0.156,1.2010000000000001]
["2019-02-28",2.375,0,null,2.7109999999999999,0.186,1.1830000000000001]
["2019-03-31",2.375,0,null,2.4140000000000001,-7.0999999999999994E-2,1.105]
["2019-04-30",2.375,0,null,2.536,1.4E-2,1.0049999999999999]
["2019-05-31",2.375,0,null,2.2360000000000002,-0.20100000000000001,0.71499999999999997]
["2019-06-30",2.375,0,null,2,-0.32600000000000001,0.39500000000000002]
["2019-07-31",2.375,0,null,2.0550000000000002,-0.436,0.29099999999999998]
["2019-08-31",2.125,0,null,1.516,-0.70699999999999996,0.11700000000000001]
["2019-09-30",1.875,0,null,1.673,-0.56999999999999995,0.15]
["2019-10-31",1.625,0,null,1.835,-0.40100000000000002,0.24199999999999999]
["2019-11-30",1.625,0,null,1.776,-0.35399999999999998,0.42399999999999999]
["2019-12-31",1.625,0,null,1.873,-0.187,0.46899999999999997]
["2020-01-31",1.625,0,null,1.5940000000000001,-0.442,0.22700000000000001]
["2020-02-29",1.625,0,null,1.1259999999999999,-0.61199999999999999,0.28299999999999997]
["2020-03-31",0.125,0,null,0.74399999999999999,-0.45700000000000002,0.68400000000000005]
["2020-04-30",0.125,0,null,0.627,-0.58599999999999997,0.73099999999999998]
["2020-05-31",0.125,0,null,0.64400000000000002,-0.44700000000000001,0.57299999999999995]
["2020-06-30",0.125,0,null,0.63600000000000001,-0.46,0.47399999999999998]
["2020-07-31",0.125,0,null,0.58099999999999996,-0.53300000000000003,0.34]
["2020-08-31",0.125,0,null,0.72899999999999998,-0.39600000000000002,0.40799999999999997]
["2020-09-30",0.125,0,null,0.64500000000000002,-0.52,0.252]
["2020-10-31",0.125,0,null,0.83599999999999997,-0.624,0.13700000000000001]
["2020-11-30",0.125,0,null,0.84199999999999997,-0.57199999999999995,0.08]
["2020-12-31",0.125,0,null,0.93500000000000005,-0.57499999999999996,5.5E-2]
["2021-01-31",0.125,0,null,1.0940000000000001,-0.51600000000000001,0.10100000000000001]
["2021-02-28",0.125,0,null,1.456,-0.25900000000000001,0.42699999999999999]
["2021-03-31",0.125,0,null,1.7210000000000001,-0.29699999999999999,0.33600000000000002]
["2021-04-30",0.125,0,null,1.64,-0.19900000000000001,0.48199999999999998]
["2021-05-31",0.125,0,null,1.593,-0.183,0.47199999999999998]
["2021-06-30",0.125,0,null,1.48,-0.20300000000000001,0.42199999999999999]
["2021-07-31",0.125,0,null,1.2689999999999999,-0.45800000000000002,0.27200000000000002]
["2021-08-31",0.125,0,null,1.3120000000000001,-0.38,0.34300000000000003]
["2021-09-30",0.125,0,null,1.5389999999999999,-0.19500000000000001,0.46300000000000002]
["2021-10-31",0.125,0,null,1.556,-0.151,0.622]
["2021-11-30",0.125,0,null,1.5289999999999999,-0.34100000000000003,0.40699999999999997]
["2021-12-31",0.125,0,null,1.5429999999999999,-0.17899999999999999,0.59499999999999997]
["2022-01-31",0.125,0,null,1.78,1.4E-2,0.75700000000000001]
["2022-02-28",0.125,0,null,1.839,0.156,1.153]
["2022-03-31",0.375,0,null,2.4,0.55400000000000005,1.4470000000000001]
["2022-04-30",0.375,0,null,2.8849999999999998,0.93799999999999994,1.9770000000000001]
["2022-05-31",0.875,0,null,2.7490000000000001,1.125,2.2320000000000002]
["2022-06-30",1.625,0,null,3.093,1.367,2.4609999999999999]
["2022-07-31",2.375,0.5,null,2.6419999999999999,0.82699999999999996,1.9330000000000001]
["2022-08-31",2.375,0.5,null,3.11,1.5349999999999999,2.7330000000000001]
["2022-09-30",3.125,1.25,null,3.7469999999999999,2.1110000000000002,3.2949999999999999]
["2022-10-31",3.125,1.25,null,4.01,2.157,3.238]
["2022-11-30",3.875,2,null,3.7480000000000002,1.946,2.9630000000000001]
["2022-12-31",4.375,2.5,null,3.835,2.5619999999999998,3.6480000000000001]
["2023-01-31",4.375,2.5,null,3.5179999999999998,2.2759999999999998,3.319]
["2023-02-28",4.625,3,null,3.9140000000000001,2.6339999999999999,3.673]
["2023-03-31",4.875,3.5,null,3.5659999999999998,2.31,3.3250000000000002]
["2023-04-30",4.875,3.5,null,3.4279999999999999,2.3199999999999998,3.3650000000000002]
["2023-05-31",5.125,3.75,null,3.7959999999999998,2.2690000000000001,3.3340000000000001]
["2023-06-30",5.125,4,null,3.8439999999999999,2.3940000000000001,3.3849999999999998]
["2023-07-31",5.375,4,null,3.9590000000000001,2.4670000000000001,3.516]
["2023-08-31",5.375,4.25,null,4.1120000000000001,2.4710000000000001,3.488]

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[]
[null,null,null,null,null,null,null,null,null,"Dívida /","EBITA /",null,"FC / ","EBITA /","Margem","FCO /","(FCO + Desp. Juros)","EBITA / ","CAPEX /","Volatilidade"]
[null,null,null,null,null,null,null,null,null,"EBITDA","Desp. Juros","Receita","Dívida Líq","Receita","Operacional","Dívida","/ Desp Juros","Ativos Médios","Depreciação","Receita"]
[null,null,null,null,null,null,null,null,"Aaa",1.5,16.600000000000001,125.8,0.442,0.32200000000000001,0.25600000000000001,0.65900000000000003,19.3,0.16800000000000001,1.4,16]
[null,null,null,null,null,null,null,null,"Aa",1.4,19.7,72.400000000000006,0.39200000000000002,0.19400000000000001,0.185,0.65,21.9,0.115,1.4,10.3]
[null,"Moody's","S&P","Explicação","Explicación","Explanation",null,null,"A",2.1,11.7,20.2,0.32300000000000001,0.14799999999999999,0.13300000000000001,0.39200000000000002,13.6,0.104,1.3,9.9]
[null,"Investment grade",null,"Grau de Investimento","Investment grade","Investment grade",null,null,"Baa",2.8,6.6,8,0.251,0.153,0.13200000000000001,0.29599999999999999,8.5,8.8999999999999996E-2,1.3,11.7]
[null,"AAA","AAA","Nivel mínimo de risco de crédito","Nivel mínimo de riesgo crediticio","Minimum level of credit risk",null,null,"Ba",3.5,3.7,3.2,0.20300000000000001,0.14799999999999999,0.124,0.22,5.4,8.8999999999999996E-2,1.3,15.6]
[null,"Aa1/Aa2/Aa3","AA+/AA/AA-","Nivel muito baixo de risco de crédito","Nivel muy bajo de riesgo crediticio","Very low level of credit risk",null,null,"B",5.6,1.8,0.8,8.5999999999999993E-2,0.13600000000000001,8.8999999999999996E-2,9.4E-2,2.4,7.0999999999999994E-2,1.1000000000000001,18.5]
[null,"A1/A2/A3","A+/A/A-","Nivel baixo de risco de crédito","Nivel bajo de riesgo crediticio","Low level of credit risk",null,null,"Caa-C",7.9,0.7,0.7,2.9000000000000001E-2,6.7000000000000004E-2,0.04,3.5999999999999997E-2,1.4,0.05,0.9,13.8]
[null,"Baa1/Baa2/Baa3","BBB+/BBB/BBB-","Risco de crédito moderado","Riesgo crediticio moderado","Moderate credit risk",null,null,"*Tabelamostra os valores medianos de set. de 2019: da Moody's Financial Metrics Key Ratios By Rating And Industry For Global Non-Financial Corporations."]
[null,"Speculative grade",null,"Grau especulativo","Speculative grade","Speculative grade"]
[null,"Ba1/Ba2/Ba3","BB+/BB/BB-","Risco de crédito substancial","Riesgo crediticio sustancial","Substantial credit risk"]
[null,"B1/B2/B3","B+/B/B-","Risco de crédito alto","Riesgo crediticio alto","High credit risk"]
[null,"Caa1/Caa2/Caa3","CCC+/CCC/CCC-","Risco de crédito muito alto","Riesgo crediticio muy alto","Very high credit risk"]
[null,"Ca","CC","É provável que esteja em situação de inadimplência ou muito perto de estar, mas existe a possibilidade de recuperar o capital.","Es probable que esté en situación de incumplimiento o muy cerca de estarlo, pero existe la posibilidad de recuperar el capital","probably in default or very close to it, but there is a possibility of recovering the capital"]
[null,"C","SD/D","Em default, com poucas possibilidades de recuperação do capital.","En incumplimiento, con pocas posibilidades de recuperar el capital","In default, with little chance of recovering capital"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"OLD TABLES. EDITION 2012"]
[]
["Table 1","10Y Gov. Bond",null,null,"2Y Gov. Bond",null,null,"Spread 10 to 2Y"]
["2000-11","USA","GER","SPA","USA","GER","SPA","USA","GER","SPA"]
["Max.",6.7,5.5,6.1,6.7,5.2,5.3,2.8,2.2000000000000002,2.7]
["Min.",1.9,1.9,3.1,0.2,0.5,1.4,-0.5,0,0.1]
["Average",4.2,3.9,4.4000000000000004,2.8,2.9,3.2,1.4,1.1000000000000001,1.2]
["1993-99"]
["Max.",7.9,7.6,12.3,7.7,6.5,12.7,2.2000000000000002,2.7,1.9]
["Min.",4.4000000000000004,3.6,3.9,3.8,2.7,2.7,0,0.4,-1]
["Average",6.2,5.8,8,5.5,4.5,7,0.6,1.4,0.9]
[]
[]
["Table 2. Standard & Poor’s Rating, 2001-03"]
["Average ratios for every grade, during 2001-03 for US industrial long-term debt"]
[]
[null,"Ratio/ Ratings","EBIT interest coverage","EBITDA interest coverage","FFO / Total debt (%)","FOCF / Total debt","Total debt / EBITDA","Return on capital","Total debt / capital (%)"]
[null,"Description","EBIT / Interests","EBITDA / Interests","CFO / Debt","FCF after tax / Debt","Debt / EBITDA","EBIT / Net assets","Debt / (Debt + Equity)"]
["Investment Grade","AAA",23.8,25.3,1.6779999999999999,1.0409999999999999,0.2,0.35100000000000003,6.2E-2]
[null,"AA",13.6,17.100000000000001,0.77500000000000002,0.41099999999999998,1.1000000000000001,0.26899999999999996,0.34799999999999998]
[null,"A",6.9,9.4,0.432,0.254,1.7,0.16800000000000001,0.39799999999999996]
[null,"BBB",4.2,5.9,0.34599999999999997,0.16900000000000001,2.4,0.13400000000000001,0.45600000000000002]
["Speculative Grade","BB",2.2999999999999998,3.1,0.2,7.9000000000000001E-2,3.8,0.10300000000000001,0.57200000000000006]
[null,"B",0.9,1.6,0.10100000000000001,2.5999999999999999E-2,5.6,6.7000000000000004E-2,0.74199999999999999]
[null,"CCC",0.4,0.9,2.9000000000000001E-2,-8.9999999999999993E-3,7.4,2.3E-2,1.012]
[]
[]
["Tables 3 & 4. Moody's Financial Metrics Key Ratios by Rating and Industry."]
["For Global Non-Financial Corporations. 2008"]
[]
[null,"Ratio/ Ratings","EBITA/ Average AT","Operating Margin","EBITA Margin","EBITA/ IntExp","(FFO+IntExp)/ IntExp"]
["Investment Grade","Aaa",0.153,0.14899999999999999,0.14799999999999999,17,15.5]
[null,"Aa ",0.156,0.17,0.17499999999999999,13.7,15.5]
[null,"A",0.125,0.13800000000000001,0.152,8.1999999999999993,9.6]
[null,"Baa",0.10100000000000001,0.126,0.13900000000000001,5.0999999999999996,6.6]
["Speculative Grade","Ba ",9.6000000000000002E-2,0.122,0.13400000000000001,3.4,4.7]
[null,"B",7.2999999999999995E-2,8.5000000000000006E-2,9.4E-2,1.5,2.6]
[null,"Caa-C",0.02,1.6E-2,2.4E-2,0.3,1.5]
[]
[]
[]
[null,"Ratio/ Ratings","Debt/ EBITDA","Debt/ BookCap","FFO/ NetDebt","RCF/ NetDebt","CAPEX/ DepExp","Rev Vol"]
["Investment Grade","Aaa",0.9,0.22700000000000001,1.173,0.96299999999999997,1.6,5.6]
[null,"Aa ",1,0.32500000000000001,0.68400000000000005,0.38400000000000001,1.4,4.4000000000000004]
[null,"A",1.7,0.39100000000000001,0.438,0.38700000000000001,1.3,5.5]
[null,"Baa",2.4,0.44800000000000001,0.29199999999999998,0.27700000000000002,1.2,7.2]
["Speculative Grade","Ba ",3.3,0.53500000000000003,0.218,0.2,1.2,10.7]
[null,"B",5,0.70199999999999996,0.12,0.11700000000000001,1.1000000000000001,9.1999999999999993]
[null,"Caa-C",6.3,0.92500000000000004,4.2999999999999997E-2,4.5999999999999999E-2,0.9,11.1]
[]
["Definitions:"]
[]
["EBITA / Average Assets"]
["EBITA / Average of Current and Previous Year Assets"]
["EBITA / Interest Expense"]
["EBITA / Interest Expense"]
["EBITA Margin"]
["EBITA / Net Revenue"]
["(FFO + Interest Expense) / Interest Expense"]
["(Funds From Operations + Interest Expense) / Interest Expense"]
["FFO / Debt"]
["Funds From Operations / (Short-Term Debt + Long-Term Debt)"]
["RCF / Debt"]
["(FFO - Preferred Dividends - Common Dividends - Minority Dividends) / (Short-Term Debt + Long-Term Debt)"]
["Debt / EBITDA"]
["(Short-Term Debt + Long-Term Debt) / EBITDA"]
["Debt / Book Capitalization"]
["(Short-Term Debt + Long-Term Debt) /"]
["(Short-Term Debt + Long-Term Debt + Deferred Taxes + Minority Interest + Book Equity)"]
["Operating Margin"]
["Operating Profit / Net Revenue"]
["CAPEX / Depreciation Expense"]
["CAPEX / Depreciation Expense"]
["Revenue Volatility"]
["Standard Deviation of Trailing Five Years of Net Revenue Growth"]
[]
[]
["Average ROE and market Return, during 1995-2002, for Telecom Compnaies (in %)"]
[]
[null,"ATT","Bell","BT","Telefónica","Sprint","SBC","Berizon"]
["ROE in %",9,20,9,5,6,28,24]
["Market Return in %",8,17,8,29,18,6,5]
[]
[]
[]
[]
[]
["OLD VERSION MOODY'S 2006. NOT TO BE INCLUDEN IN THE BOOK. ",null,null,null,null,null,null,null,"Summary"]
[null,null,null,null,null,null,null,null,"Invest. Grade","Speculative"]
[null,null,null,null,null,null,null,null,6.5,2.1]
["Table 3. Moody's ratings July 2006",null,null,null,null,null,null,null,2.4,1.4]
["Median ratios for every grade",null,null,null,null,null,null,null,0.436,0.66800000000000004]
[null,null,"Investment-Grade",null,null,null,"Speculative-Grade",null,{"$f":"I120/(1-I120)","v":0.77304964539007082},2.0120481927710845]
["Ratio","Description","Aaa-Aa","A","Baa","Ba","B","Caa-C",{"$f":"I119*I121","v":1.8553191489361698},2.8168674698795182]
["Interest Coverage","(EBIT / Interests)",16,8.6,5.4,3.7,1.9,0.7,0.28399999999999997,0.127]
["Asset Coverage","Assets / Debt",3.7,2.4,2.2999999999999998,2,1.3,1,{"$f":"I125*I122","v":0.11688510638297869},5.3520481927710847E-2]
["Leverage","Debt / (Debt + Equity)",0.316,0.41699999999999998,0.44800000000000001,0.498,0.68700000000000006,0.92200000000000004,6.3E-2,1.9E-2]
["Leverage-1*","Debt / Equity (times)",0.46198830409356728,0.71526586620926247,0.81159420289855067,0.99203187250996017,2.1948881789137387,11.820512820512828,7.8E-2,2.1000000000000001E-2]
["Leverage-2*","Assets / Equity",1.709356725146199,1.71663807890223,1.8666666666666665,1.9840637450199203,2.8533546325878603,11.820512820512828,4.5999999999999999E-2,3.9E-2]
["Cash Flow-to-Debt","CFO / Debt",0.52400000000000002,0.32600000000000001,0.25800000000000001,0.216,0.121,6.4000000000000001E-2,6.6,5.9]
["Return on Equity*","Net Income / Equity",0.19828538011695909,0.12874785591766724,9.8933333333333318E-2,8.7298804780876496E-2,4.8507028753993625E-2,-0.24823076923076942]
["Return on Assets","Net Income / Assets",0.11600000000000001,7.4999999999999997E-2,5.2999999999999999E-2,4.3999999999999997E-2,1.7000000000000001E-2,-2.1000000000000001E-2]
["Profit","Net Income / Sales",0.11799999999999999,0.09,6.7000000000000004E-2,0.05,0.02,-2.5999999999999999E-2]
["Liquidity","Cash / Total Assets",7.8E-2,4.7E-2,0.04,4.2999999999999997E-2,3.9E-2,3.3000000000000002E-2]
["Revenue Stability",null,7.2,7.3,6.1,5.2,6.1,7.3]
["* Ratios included and calculated by the author, not by Moody's"]
[]
["Detailed calculation of every ratio"]
["• Interest Coverage:"]
["(EBIT - Interest Capitalized + (1/3)*Rental Expense) / (Interest Expense + (1/3)*Rental Expense +Preferred Dividends/0.65)"]
["• Asset Coverage:"]
["(Total Assets - Goodwill - Intangibles) / Total Debt"]
["• Leverage:"]
[" (Total Debt + 8*Rental Expense) / (Total Debt + 8*Rental Expense + Deferred Taxes + Minority Interest + Total Equity)"]
["• Cash Flow/Debt:"]
[" (Net After-Tax Income Before X-Items + Depreciations - Dividends) / (Total Debt + 8*Rental Expense)"]
["• Return on Assets:"]
[" Net After-Tax Income Before X-Items / 2 Year Average Assets"]
["• Profit:"]
[" Net After-Tax Income Before X-Items / Net Sales"]
["• Liquidity:"]
[" Cash & Market Securities / Total Assets"]
["• Revenue Stability:"]
[" 5 Year Average Net Sales / 5 Year Standard Deviation Net Sales"]
["See example of this ratio ---->",null,"Years","Sales A","Change","Sales B"]
["Sales for companies A (stable) a B (volatile)",null,1,100,null,100]
[null,null,2,110,{"$f":"D155/D154-1","v":0.10000000000000009},140,{"$f":"F155/F154-1","v":0.39999999999999991}]
[null,null,3,115,{"$f":"D156/D155-1","v":4.5454545454545414E-2},160,{"$f":"F156/F155-1","v":0.14285714285714279}]
[null,null,4,110,{"$f":"D157/D156-1","v":-4.3478260869565188E-2},110,{"$f":"F157/F156-1","v":-0.3125}]
[null,null,5,105,{"$f":"D158/D157-1","v":-4.5454545454545414E-2},90,{"$f":"F158/F157-1","v":-0.18181818181818177}]
[null,null,"Average",{"$f":"AVERAGE(D154:D158)","v":108},{"$f":"AVERAGE(E154:E158)","v":1.4130434782608725E-2},{"$f":"AVERAGE(F154:F158)","v":120},{"$f":"AVERAGE(G154:G158)","v":1.2134740259740234E-2}]
[null,null,"St. Dev",{"$f":"STDEV(D154:D159)","v":5.0990195135927845},{"$f":"STDEV(E154:E159)","v":6.1692612654633168E-2},{"$f":"STDEV(F154:F159)","v":26.076809620810597},{"$f":"STDEV(G154:G159)","v":0.27862755464072914}]
[null,null,"Average / st dev",{"$f":"D159/D160","v":21.180542594923878},{"$f":"E159/E160","v":0.22904581561026688},{"$f":"F159/F160","v":4.6017899330842225},{"$f":"G159/G160","v":4.3551831316135041E-2}]