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 |       PREDICTED TRADING BAND FOR T-Bonds (12)        AFTER 11-23-90-F       |
 |          |LAST PRED|   ACTUAL  |  DAY 1 |  DAY 2 |  DAY 3 |  DAY 4 |  DAY 5 |
 | .........|.........|...........|........|........|........|........|....... |
 | High(80%)|   95.18 |           |  94.92 |  95.31 |  95.24 |  95.40 |  95.54 |
 | High(60%)|   94.90 |Hi-  94.53 |  94.64 |  94.84 |  94.80 |  94.83 |  94.96 |
 | Low (60%)|   94.27 |Lo-  94.28 |  94.17 |  94.19 |  94.20 |  93.96 |  94.04 |
 | Low (80%)|   93.98 |           |  93.88 |  93.75 |  93.78 |  93.39 |  93.48 |
 |  Chance of trading hi >  94.53 |  48%      54%      53%      51%      56%   |
 |  Chance of trading lo <  94.28 |  48%      44%      43%      52%      49%   |
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 |       PREDICTED TRADING BAND FOR T-Notes (12)        AFTER 11-23-90-F       |
 |          |LAST PRED|   ACTUAL  |  DAY 1 |  DAY 2 |  DAY 3 |  DAY 4 |  DAY 5 |
 | .........|.........|...........|........|........|........|........|....... |
 | High(80%)|   98.51 |           |  98.33 |  98.58 |  98.56 |  98.64 |  98.75 |
 | High(60%)|   98.32 |Hi-  98.06 |  98.14 |  98.28 |  98.26 |  98.27 |  98.36 |
 | Low (60%)|   97.90 |Lo-  97.91 |  97.85 |  97.84 |  97.87 |  97.73 |  97.76 |
 | Low (80%)|   97.72 |           |  97.66 |  97.54 |  97.58 |  97.35 |  97.37 |
 |  Chance of trading hi >  98.06 |  49%      55%      54%      52%      57%   |
 |  Chance of trading lo <  97.91 |  47%      45%      42%      50%      48%   |
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 |       PREDICTED TRADING BAND FOR T-Bills ( 3)        AFTER 11-23-90-F       |
 |          |LAST PRED|   ACTUAL  |  DAY 1 |  DAY 2 |  DAY 3 |  DAY 4 |  DAY 5 |
 | .........|.........|...........|........|........|........|........|....... |
 | High(80%)|   93.74 |           |  93.75 |  93.82 |  93.78 |  93.75 |  93.77 |
 | High(60%)|   93.69 |Hi-  93.68 |  93.71 |  93.75 |  93.71 |  93.69 |  93.70 |
 | Low (60%)|   93.49 |Lo-  93.61 |  93.62 |  93.61 |  93.58 |  93.55 |  93.55 |
 | Low (80%)|   93.45 |           |  93.58 |  93.55 |  93.53 |  93.48 |  93.49 |
 |  Chance of trading hi >  93.68 |  52%      63%      49%      43%      46%   |
 |  Chance of trading lo <  93.61 |  35%      40%      49%      59%      58%   |
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 |       PREDICTED TRADING BAND FOR EuroDollar (12)     AFTER 11-23-90-F       |
 |          |LAST PRED|   ACTUAL  |  DAY 1 |  DAY 2 |  DAY 3 |  DAY 4 |  DAY 5 |
 | .........|.........|...........|........|........|........|........|....... |
 | High(80%)|   92.08 |           |  92.06 |  92.10 |  92.09 |  92.09 |  92.11 |
 | High(60%)|   92.04 |Hi-  92.01 |  92.03 |  92.04 |  92.03 |  92.04 |  92.05 |
 | Low (60%)|   91.97 |Lo-  91.97 |  91.95 |  91.95 |  91.94 |  91.93 |  91.94 |
 | Low (80%)|   91.94 |           |  91.92 |  91.90 |  91.90 |  91.86 |  91.87 |
 |  Chance of trading hi >  92.01 |  49%      50%      48%      49%      53%   |
 |  Chance of trading lo <  91.97 |  52%      45%      51%      53%      50%   |
 |-----------------------------------------------------------------------------|
 |       PREDICTED TRADING BAND FOR Muni Bond Index (12)AFTER 11-23-90-F       |
 |          |LAST PRED|   ACTUAL  |  DAY 1 |  DAY 2 |  DAY 3 |  DAY 4 |  DAY 5 |
 | .........|.........|...........|........|........|........|........|....... |
 | High(80%)|   92.07 |           |  91.78 |  92.12 |  92.01 |  92.20 |  92.22 |
 | High(60%)|   91.86 |Hi-  91.50 |  91.57 |  91.76 |  91.69 |  91.73 |  91.79 |
 | Low (60%)|   91.27 |Lo-  91.28 |  91.16 |  91.21 |  91.21 |  90.98 |  91.02 |
 | Low (80%)|   91.03 |           |  90.93 |  90.83 |  90.86 |  90.45 |  90.51 |
 |  Chance of trading hi >  91.50 |  46%      55%      53%      50%      54%   |
 |  Chance of trading lo <  91.28 |  50%      43%      44%      52%      51%   |
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