%PDF-1.3
%
1 0 obj
<<
/Lang (en)
/Metadata 2 0 R
/Names 3 0 R
/Outlines 4 0 R
/PageLabels <<
/Nums [0 5 0 R 1 6 0 R 2 7 0 R 3 8 0 R 4 9 0 R
5 10 0 R 6 11 0 R 7 12 0 R 8 13 0 R 9 14 0 R
10 15 0 R 11 16 0 R 12 17 0 R 13 18 0 R 14 19 0 R
15 20 0 R 16 21 0 R 17 22 0 R]
>>
/PageLayout /OneColumn
/PageMode /UseOutlines
/Pages 23 0 R
/Type /Catalog
/ViewerPreferences <<
/DisplayDocTitle true
>>
>>
endobj
24 0 obj
<<
/Author <492E20416E61676E6F73746F753B20542E20537175617274696E69A73B20442E204B616E646861693B20442E204761726C61736368656C6C69A7B6>
/CreationDate (D:20210407211311+05'30')
/Creator (LaTeX with hyperref package + hypdvips)
/Keywords (Financial time series; correlation modelling; correlation matrices; community detection; credit default swaps; applications to default risk; multi-factor models\))
/ModDate (D:20210407220144+05'30')
/Producer <4163726F6261742044697374696C6C657220382E312E30202857696E646F7773293B206D6F646966696564207573696E6720695465787453686172709220352E352E3820A9323030302D323031352069546578742047726F7570204E5620284147504C2D76657273696F6E29>
/Subject (Quantitative Finance, 2021. doi: 10.1080/14697688.2021.1890807)
/Title (Uncovering the mesoscale structure of the credit default swap market to improve portfolio risk model)
>>
endobj
2 0 obj
<<
/Length 33571
/Subtype /XML
/Type /Metadata
>>
stream
application/pdf
10.1080/14697688.2021.1890807
en
Taylor & Francis
Uncovering the mesoscale structure of the credit default swap market to improve portfolio risk modelling
I. Anagnostou; T. Squartini§; D. Kandhai; D. Garlaschelli§¶
T. Squartini{{\xmlsect}}
D. Kandhai{{\xmldagger}}{{\xmlDagger}}
D. Garlaschelli{{\xmlsect}}{{\xmlpara}}
Quantitative Finance, 2021. doi: 10.1080/14697688.2021.1890807
Financial time series
correlation modelling
correlation matrices
community detection
credit default swaps
applications to default risk
multi-factor models)
LaTeX with hyperref package + hypdvips
2021-04-07T21:13:11+05:30
2021-04-07T22:01:44+05:30
2021-04-07T22:01:44+05:30
256
60
JPEG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uuid:9CE796B54B06DF1184AFE35671691C5A
uuid:2e692eb7-117d-43f2-a091-1a40422fa75c
uuid:C040557EB920DE119E40AB38B26ECA98
uuid:BF40557EB920DE119E40AB38B26ECA98
1
False
True
198.000000
54.000000
Points
Black
Default Swatch Group
0
White
CMYK
PROCESS
0.000000
0.000000
0.000000
0.000000
Black
CMYK
PROCESS
0.000000
0.000000
0.000000
100.000000
80% Black
CMYK
PROCESS
0.000000
0.000000
0.000000
80.000001
60% Black
CMYK
PROCESS
0.000000
0.000000
0.000000
60.000002
40% Black
CMYK
PROCESS
0.000000
0.000000
0.000000
39.999998
20% Black
CMYK
PROCESS
0.000000
0.000000
0.000000
19.999999
Red M=100 Y=100
CMYK
PROCESS
0.000000
100.000000
100.000000
0.000000
75% Red M=75 Y=75
CMYK
PROCESS
0.000000
75.000000
75.000000
0.000000
50% Red M=50 Y=50
CMYK
PROCESS
0.000000
50.000000
50.000000
0.000000
25% Red M=25 Y=25
CMYK
PROCESS
0.000000
25.000000
25.000000
0.000000
Green C=80 Y=100
CMYK
PROCESS
80.000001
0.000000
100.000000
0.000000
75% Green C=60 Y=75
CMYK
PROCESS
60.000002
0.000000
75.000000
0.000000
50% Green C=40 Y=50
CMYK
PROCESS
39.999998
0.000000
50.000000
0.000000
25% Green C=20 Y=25
CMYK
PROCESS
19.999999
0.000000
25.000000
0.000000
Blue C=100 M=50
CMYK
PROCESS
100.000000
50.000000
0.000000
0.000000
75% Blue C=75 M=37.5
CMYK
PROCESS
75.000000
37.500000
0.000000
0.000000
50% Blue C=50 M=25
CMYK
PROCESS
50.000000
25.000000
0.000000
0.000000
25% Blue C=25 M=12.5
CMYK
PROCESS
25.000000
12.500000
0.000000
0.000000
Orange M=50 Y=100
CMYK
PROCESS
0.000000
50.000000
100.000000
0.000000
75% Orange M=37.5 Y=75
CMYK
PROCESS
0.000000
37.500000
75.000000
0.000000
50% Orange M=25 Y=50
CMYK
PROCESS
0.000000
25.000000
50.000000
0.000000
25% Orange M=12.5 Y=25
CMYK
PROCESS
0.000000
12.500000
25.000000
0.000000
Violet C=50 M=90
CMYK
PROCESS
50.000000
90.000004
0.000000
0.000000
75% Violet C=37.5 M=67.5
CMYK
PROCESS
37.500000
67.500001
0.000000
0.000000
50% Violet C=25 M=45
CMYK
PROCESS
25.000000
44.999999
0.000000
0.000000
25% Violet C=12.5 M=22.5
CMYK
PROCESS
12.500000
22.500002
0.000000
0.000000
Azure C=80
CMYK
PROCESS
80.000001
0.000000
0.000000
0.000000
75% Azure C=60
CMYK
PROCESS
60.000002
0.000000
0.000000
0.000000
50% Azure C=40
CMYK
PROCESS
39.999998
0.000000
0.000000
0.000000
25% Azure C=20
CMYK
PROCESS
19.999999
0.000000
0.000000
0.000000
Yellow
CMYK
PROCESS
0.000000
0.000000
100.000000
0.000000
75% Yellow
CMYK
PROCESS
0.000000
0.000000
75.000000
0.000000
50% Yellow
CMYK
PROCESS
0.000000
0.000000
50.000000
0.000000
25% Yellow
CMYK
PROCESS
0.000000
0.000000
25.000000
0.000000
Acrobat Distiller 8.1.0 (Windows); modified using iTextSharp™ 5.5.8 ©2000-2015 iText Group NV (AGPL-version)
Financial time series; correlation modelling; correlation matrices; community detection; credit default swaps; applications to default risk; multi-factor models)
Journal
Quantitative Finance
Copyright Taylor & Francis
xxxx-xxxx
xxxx-xxxx
0
0
1
18
10.1080/14697688.2021.1890807
https://doi.org/14697688.2021.1890807
VoR
10.1080/14697688.2021.1890807
2021-04-08
True
www.tandfonline.com
10.1080/14697688.2021.1890807
2021-04-08
True
www.tandfonline.com
endstream
endobj
3 0 obj
<<
/Dests 25 0 R
/EmbeddedFiles 26 0 R
>>
endobj
4 0 obj
<<
/Count 18
/First 27 0 R
/Last 28 0 R
>>
endobj
5 0 obj
<<
/S /D
>>
endobj
6 0 obj
<<
/S /D
/St 2
>>
endobj
7 0 obj
<<
/S /D
/St 3
>>
endobj
8 0 obj
<<
/S /D
/St 4
>>
endobj
9 0 obj
<<
/S /D
/St 5
>>
endobj
10 0 obj
<<
/S /D
/St 6
>>
endobj
11 0 obj
<<
/S /D
/St 7
>>
endobj
12 0 obj
<<
/S /D
/St 8
>>
endobj
13 0 obj
<<
/S /D
/St 9
>>
endobj
14 0 obj
<<
/S /D
/St 10
>>
endobj
15 0 obj
<<
/S /D
/St 11
>>
endobj
16 0 obj
<<
/S /D
/St 12
>>
endobj
17 0 obj
<<
/S /D
/St 13
>>
endobj
18 0 obj
<<
/S /D
/St 14
>>
endobj
19 0 obj
<<
/S /D
/St 15
>>
endobj
20 0 obj
<<
/S /D
/St 16
>>
endobj
21 0 obj
<<
/S /D
/St 17
>>
endobj
22 0 obj
<<
/S /D
/St 18
>>
endobj
23 0 obj
<<
/Count 19
/Kids [29 0 R 30 0 R]
/Type /Pages
>>
endobj
25 0 obj
<<
/Kids [31 0 R 32 0 R 33 0 R]
>>
endobj
26 0 obj
<<
/Kids [34 0 R]
>>
endobj
27 0 obj
<<
/Dest (section.1)
/Next 35 0 R
/Parent 4 0 R
/Title (1. Introduction)
>>
endobj
28 0 obj
<<
/Dest (section*.44)
/Parent 4 0 R
/Prev 36 0 R
/Title (Appendix 2. Empirical pairwise correlations)
>>
endobj
29 0 obj
<<
/Count 11
/Kids [37 0 R 38 0 R 39 0 R 40 0 R 41 0 R 42 0 R 43 0 R 44 0 R 45 0 R 46 0 R
47 0 R]
/Parent 23 0 R
/Type /Pages
>>
endobj
30 0 obj
<<
/Count 8
/Kids [48 0 R 49 0 R 50 0 R 51 0 R 52 0 R 53 0 R 54 0 R 55 0 R]
/Parent 23 0 R
/Type /Pages
>>
endobj
31 0 obj
<<
/Limits [(AF1) (CIT0027)]
/Names [(AF1) 56 0 R (AF2) 57 0 R (AF3) 58 0 R (AF4) 59 0 R (AMS.1) 60 0 R
(AMS.10) 61 0 R (AMS.11) 62 0 R (AMS.12) 63 0 R (AMS.13) 64 0 R (AMS.14) 65 0 R
(AMS.15) 66 0 R (AMS.16) 67 0 R (AMS.17) 68 0 R (AMS.18) 69 0 R (AMS.19) 70 0 R
(AMS.2) 71 0 R (AMS.20) 72 0 R (AMS.21) 73 0 R (AMS.22) 74 0 R (AMS.23) 75 0 R
(AMS.24) 76 0 R (AMS.25) 77 0 R (AMS.26) 78 0 R (AMS.27) 79 0 R (AMS.28) 80 0 R
(AMS.3) 81 0 R (AMS.30) 82 0 R (AMS.31) 83 0 R (AMS.32) 84 0 R (AMS.33) 85 0 R
(AMS.34) 86 0 R (AMS.35) 87 0 R (AMS.36) 88 0 R (AMS.37) 89 0 R (AMS.4) 90 0 R
(AMS.8) 91 0 R (AMS.9) 92 0 R (CIT0001) 93 0 R (CIT0002) 94 0 R (CIT0003) 95 0 R
(CIT0004) 96 0 R (CIT0005) 97 0 R (CIT0006) 98 0 R (CIT0007) 99 0 R (CIT0008) 100 0 R
(CIT0009) 101 0 R (CIT0010) 102 0 R (CIT0011) 103 0 R (CIT0012) 104 0 R (CIT0013) 105 0 R
(CIT0014) 106 0 R (CIT0015) 107 0 R (CIT0016) 108 0 R (CIT0017) 109 0 R (CIT0018) 110 0 R
(CIT0019) 111 0 R (CIT0020) 112 0 R (CIT0021) 113 0 R (CIT0022) 114 0 R (CIT0023) 115 0 R
(CIT0024) 116 0 R (CIT0025) 117 0 R (CIT0026) 118 0 R (CIT0027) 119 0 R]
>>
endobj
32 0 obj
<<
/Limits [(CIT0028) (table.4)]
/Names [(CIT0028) 120 0 R (CIT0029) 121 0 R (CIT0030) 122 0 R (CIT0031) 123 0 R (CIT0032) 124 0 R
(CIT0033) 125 0 R (Doc-Start) 126 0 R (Hfootnote.1) 127 0 R (clscount.1) 128 0 R (corr1) 129 0 R
(equation.3.1) 130 0 R (equation.4.1) 131 0 R (figure.1) 132 0 R (figure.10) 133 0 R (figure.2) 134 0 R
(figure.3) 135 0 R (figure.4) 136 0 R (figure.5) 137 0 R (figure.6) 138 0 R (figure.7) 139 0 R
(figure.8) 140 0 R (figure.9) 141 0 R (figure.A.1) 142 0 R (page.1) 143 0 R (page.10) 144 0 R
(page.11) 145 0 R (page.12) 146 0 R (page.13) 147 0 R (page.14) 148 0 R (page.15) 149 0 R
(page.16) 150 0 R (page.17) 151 0 R (page.18) 152 0 R (page.2) 153 0 R (page.3) 154 0 R
(page.4) 155 0 R (page.5) 156 0 R (page.6) 157 0 R (page.7) 158 0 R (page.8) 159 0 R
(page.9) 160 0 R (section*.38) 161 0 R (section*.39) 162 0 R (section*.40) 163 0 R (section*.41) 164 0 R
(section*.42) 165 0 R (section*.43) 166 0 R (section*.44) 167 0 R (section.1) 168 0 R (section.2) 169 0 R
(section.3) 170 0 R (section.4) 171 0 R (section.5) 172 0 R (subsection.2.1) 173 0 R (subsection.2.2) 174 0 R
(subsection.3.1) 175 0 R (subsection.3.2) 176 0 R (subsection.4.1) 177 0 R (subsection.4.2) 178 0 R (subsection.4.3) 179 0 R
(table.1) 180 0 R (table.2) 181 0 R (table.3) 182 0 R (table.4) 183 0 R]
>>
endobj
33 0 obj
<<
/Limits [(table.5) (table.A.1)]
/Names [(table.5) 184 0 R (table.6) 185 0 R (table.7) 186 0 R (table.A.1) 187 0 R]
>>
endobj
34 0 obj
<<
/Limits [ ]
/Names [ 188 0 R]
>>
endobj
35 0 obj
<<
/Count 2
/Dest (section.2)
/First 189 0 R
/Last 190 0 R
/Next 191 0 R
/Parent 4 0 R
/Prev 27 0 R
/Title (2. Preliminary definitions)
>>
endobj
36 0 obj
<<
/Dest (section*.43)
/Next 28 0 R
/Parent 4 0 R
/Prev 192 0 R
/Title (Appendix 1. Full regression results on the basis of equation \(28\))
>>
endobj
37 0 obj
<<
/Resources 193 0 R
/Type /Page
/MediaBox [0 0 634.32 833.04]
/CropBox [0 0 634.32 833.04]
/BleedBox [0 0 634.32 833.04]
/TrimBox [0 0 634.32 833.04]
/Parent 29 0 R
/Annots [194 0 R 195 0 R 196 0 R 197 0 R 198 0 R 199 0 R 200 0 R 201 0 R 202 0 R 203 0 R]
/Contents 204 0 R
>>
endobj
38 0 obj
<<
/Annots [205 0 R 206 0 R 207 0 R 208 0 R 209 0 R 210 0 R 211 0 R 212 0 R 213 0 R 214 0 R
215 0 R 216 0 R 217 0 R 218 0 R 219 0 R 220 0 R 221 0 R 222 0 R 223 0 R 224 0 R
225 0 R 226 0 R 227 0 R 228 0 R 229 0 R 230 0 R]
/Contents [231 0 R 232 0 R 233 0 R 234 0 R 235 0 R 236 0 R 237 0 R 238 0 R]
/CropBox [0 0 595.276 842.457]
/MediaBox [0 0 595.276 841.89]
/Parent 29 0 R
/Resources <<
/ColorSpace <<
/CS0 [/ICCBased 239 0 R]
/CS1 [/Separation /Black [/ICCBased 239 0 R]
240 0 R]
>>
/ExtGState <<
/GS0 241 0 R
>>
/Font <<
/T1_0 242 0 R
/T1_1 243 0 R
/T1_2 244 0 R
/T1_3 245 0 R
>>
/ProcSet [/PDF /Text]
/Properties <<
/MC0 246 0 R
/MC1 247 0 R
/MC2 248 0 R
/MC3 249 0 R
/MC4 250 0 R
/MC5 251 0 R
>>
/Shading <<
/Sh0 252 0 R
>>
>>
/Rotate 0
/Thumb 253 0 R
/Type /Page
>>
endobj
39 0 obj
<<
/Annots [254 0 R 255 0 R 256 0 R 257 0 R 258 0 R 259 0 R 260 0 R 261 0 R 262 0 R 263 0 R
264 0 R 265 0 R 266 0 R 267 0 R 268 0 R 269 0 R]
/Contents 270 0 R
/CropBox [0 0 595.276 842.457]
/MediaBox [0 0 595.276 841.89]
/Parent 29 0 R
/Resources <<
/ColorSpace <<
/CS0 [/ICCBased 239 0 R]
>>
/ExtGState <<
/GS0 241 0 R
>>
/Font <<
/T1_0 243 0 R
/T1_1 242 0 R
/T1_2 245 0 R
/T1_3 271 0 R
>>
/ProcSet [/PDF /Text]
>>
/Rotate 0
/Thumb 272 0 R
/Type /Page
>>
endobj
40 0 obj
<<
/Annots [273 0 R 274 0 R 275 0 R]
/Contents 276 0 R
/CropBox [0 0 595.276 842.457]
/MediaBox [0 0 595.276 841.89]
/Parent 29 0 R
/Resources <<
/ColorSpace <<
/CS0 [/ICCBased 239 0 R]
>>
/ExtGState <<
/GS0 241 0 R
>>
/Font <<
/T1_0 242 0 R
/T1_1 243 0 R
/T1_2 271 0 R
/T1_3 245 0 R
/T1_4 244 0 R
/T1_5 277 0 R
/T1_6 278 0 R
>>
/ProcSet [/PDF /Text]
>>
/Rotate 0
/Thumb 279 0 R
/Type /Page
>>
endobj
41 0 obj
<<
/Annots [280 0 R 281 0 R 282 0 R 283 0 R 284 0 R 285 0 R 286 0 R 287 0 R 288 0 R 289 0 R
290 0 R 291 0 R]
/Contents 292 0 R
/CropBox [0 0 595.276 842.457]
/MediaBox [0 0 595.276 841.89]
/Parent 29 0 R
/Resources <<
/ColorSpace <<
/CS0 [/ICCBased 239 0 R]
>>
/ExtGState <<
/GS0 241 0 R
>>
/Font <<
/T1_0 243 0 R
/T1_1 242 0 R
/T1_2 277 0 R
/T1_3 278 0 R
/T1_4 244 0 R
/T1_5 245 0 R
>>
/ProcSet [/PDF /Text]
>>
/Rotate 0
/Thumb 293 0 R
/Type /Page
>>
endobj
42 0 obj
<<
/Annots [294 0 R 295 0 R 296 0 R 297 0 R 298 0 R]
/Contents 299 0 R
/CropBox [0 0 595.276 842.457]
/MediaBox [0 0 595.276 841.89]
/Parent 29 0 R
/Resources <<
/ColorSpace <<
/CS0 [/ICCBased 239 0 R]
>>
/ExtGState <<
/GS0 241 0 R
/GS1 300 0 R
>>
/Font <<
/T1_0 242 0 R
/T1_1 243 0 R
/T1_2 277 0 R
/T1_3 244 0 R
/T1_4 301 0 R
/T1_5 278 0 R
/T1_6 245 0 R
/T1_7 271 0 R
>>
/ProcSet [/PDF /Text]
/Properties <<
/MC0 302 0 R
>>
>>
/Rotate 0
/Thumb 303 0 R
/Type /Page
>>
endobj
43 0 obj
<<
/Annots [304 0 R 305 0 R 306 0 R 307 0 R 308 0 R 309 0 R]
/Contents 310 0 R
/CropBox [0 0 595.276 842.457]
/MediaBox [0 0 595.276 841.89]
/Parent 29 0 R
/Resources <<
/ColorSpace <<
/CS0 [/ICCBased 239 0 R]
>>
/ExtGState <<
/GS0 241 0 R
/GS1 300 0 R
>>
/Font <<
/T1_0 243 0 R
/T1_1 242 0 R
>>
/ProcSet [/PDF /Text /ImageC]
/Properties <<
/MC0 311 0 R
/MC1 312 0 R
/MC10 313 0 R
/MC11 314 0 R
/MC12 315 0 R
/MC13 316 0 R
/MC14 317 0 R
/MC15 318 0 R
/MC16 319 0 R
/MC17 320 0 R
/MC18 321 0 R
/MC19 322 0 R
/MC2 323 0 R
/MC20 324 0 R
/MC21 325 0 R
/MC22 326 0 R
/MC23 327 0 R
/MC24 328 0 R
/MC25 329 0 R
/MC26 330 0 R
/MC27 331 0 R
/MC28 332 0 R
/MC29 333 0 R
/MC3 334 0 R
/MC30 335 0 R
/MC31 336 0 R
/MC32 337 0 R
/MC33 338 0 R
/MC34 339 0 R
/MC35 340 0 R
/MC36 341 0 R
/MC37 342 0 R
/MC38 343 0 R
/MC39 344 0 R
/MC4 345 0 R
/MC40 346 0 R
/MC5 347 0 R
/MC6 348 0 R
/MC7 349 0 R
/MC8 350 0 R
/MC9 351 0 R
>>
/XObject <<
/Im0 352 0 R
>>
>>
/Rotate 0
/Thumb 353 0 R
/Type /Page
>>
endobj
44 0 obj
<<
/Annots [354 0 R 355 0 R]
/Contents 356 0 R
/CropBox [0 0 595.276 842.457]
/MediaBox [0 0 595.276 841.89]
/Parent 29 0 R
/Resources <<
/ColorSpace <<
/CS0 [/ICCBased 239 0 R]
>>
/ExtGState <<
/GS0 241 0 R
/GS1 300 0 R
>>
/Font <<
/T1_0 242 0 R
/T1_1 243 0 R
>>
/ProcSet [/PDF /Text /ImageC]
/Properties <<
/MC0 357 0 R
/MC1 358 0 R
/MC10 359 0 R
/MC11 360 0 R
/MC12 361 0 R
/MC13 362 0 R
/MC14 363 0 R
/MC15 364 0 R
/MC16 365 0 R
/MC17 366 0 R
/MC18 367 0 R
/MC19 368 0 R
/MC2 369 0 R
/MC20 370 0 R
/MC21 371 0 R
/MC22 372 0 R
/MC23 373 0 R
/MC24 374 0 R
/MC25 375 0 R
/MC26 376 0 R
/MC3 377 0 R
/MC4 378 0 R
/MC5 379 0 R
/MC6 380 0 R
/MC7 381 0 R
/MC8 382 0 R
/MC9 383 0 R
>>
/XObject <<
/Im0 384 0 R
>>
>>
/Rotate 0
/Thumb 385 0 R
/Type /Page
>>
endobj
45 0 obj
<<
/Annots [386 0 R]
/Contents 387 0 R
/CropBox [0 0 595.276 842.457]
/MediaBox [0 0 595.276 841.89]
/Parent 29 0 R
/Resources <<
/ColorSpace <<
/CS0 [/ICCBased 239 0 R]
>>
/ExtGState <<
/GS0 241 0 R
/GS1 300 0 R
>>
/Font <<
/T1_0 243 0 R
/T1_1 242 0 R
>>
/ProcSet [/PDF /Text /ImageC]
/Properties <<
/MC0 388 0 R
/MC1 389 0 R
/MC10 390 0 R
/MC11 391 0 R
/MC12 392 0 R
/MC13 393 0 R
/MC14 394 0 R
/MC15 395 0 R
/MC16 396 0 R
/MC17 397 0 R
/MC18 398 0 R
/MC19 399 0 R
/MC2 400 0 R
/MC20 401 0 R
/MC21 402 0 R
/MC22 403 0 R
/MC23 404 0 R
/MC24 405 0 R
/MC25 406 0 R
/MC3 407 0 R
/MC4 408 0 R
/MC5 409 0 R
/MC6 410 0 R
/MC7 411 0 R
/MC8 412 0 R
/MC9 413 0 R
>>
/XObject <<
/Im0 414 0 R
>>
>>
/Rotate 0
/Thumb 415 0 R
/Type /Page
>>
endobj
46 0 obj
<<
/Annots [416 0 R 417 0 R 418 0 R 419 0 R 420 0 R 421 0 R 422 0 R]
/Contents 423 0 R
/CropBox [0 0 595.276 842.457]
/MediaBox [0 0 595.276 841.89]
/Parent 29 0 R
/Resources <<
/ColorSpace <<
/CS0 [/ICCBased 239 0 R]
>>
/ExtGState <<
/GS0 241 0 R
>>
/Font <<
/T1_0 242 0 R
/T1_1 243 0 R
/T1_2 244 0 R
/T1_3 277 0 R
/T1_4 301 0 R
/T1_5 278 0 R
>>
/ProcSet [/PDF /Text /ImageC]
/Properties <<
/MC0 424 0 R
>>
/XObject <<
/Im0 425 0 R
/Im1 426 0 R
/Im2 427 0 R
/Im3 428 0 R
/Im4 429 0 R
/Im5 430 0 R
/Im6 431 0 R
/Im7 432 0 R
>>
>>
/Rotate 0
/Thumb 433 0 R
/Type /Page
>>
endobj
47 0 obj
<<
/Annots [434 0 R 435 0 R 436 0 R 437 0 R 438 0 R 439 0 R 440 0 R 441 0 R]
/Contents 442 0 R
/CropBox [0 0 595.276 842.457]
/MediaBox [0 0 595.276 841.89]
/Parent 29 0 R
/Resources <<
/ColorSpace <<
/CS0 [/ICCBased 239 0 R]
>>
/ExtGState <<
/GS0 241 0 R
>>
/Font <<
/T1_0 243 0 R
/T1_1 242 0 R
/T1_2 277 0 R
>>
/ProcSet [/PDF /Text /ImageC]
/Properties <<
/MC0 443 0 R
/MC1 444 0 R
>>
/Shading <<
/Sh0 445 0 R
/Sh1 446 0 R
/Sh10 447 0 R
/Sh11 448 0 R
/Sh12 449 0 R
/Sh13 450 0 R
/Sh14 451 0 R
/Sh15 452 0 R
/Sh16 453 0 R
/Sh17 454 0 R
/Sh18 455 0 R
/Sh19 456 0 R
/Sh2 457 0 R
/Sh20 458 0 R
/Sh21 459 0 R
/Sh22 460 0 R
/Sh3 461 0 R
/Sh4 462 0 R
/Sh5 463 0 R
/Sh6 464 0 R
/Sh7 465 0 R
/Sh8 466 0 R
/Sh9 467 0 R
>>
/XObject <<
/Im0 468 0 R
/Im1 469 0 R
/Im2 470 0 R
/Im3 471 0 R
/Im4 472 0 R
/Im5 473 0 R
/Im6 474 0 R
/Im7 475 0 R
/Im8 476 0 R
>>
>>
/Rotate 0
/Thumb 477 0 R
/Type /Page
>>
endobj
48 0 obj
<<
/Annots [478 0 R 479 0 R 480 0 R 481 0 R 482 0 R 483 0 R]
/Contents 484 0 R
/CropBox [0 0 595.276 842.457]
/MediaBox [0 0 595.276 841.89]
/Parent 30 0 R
/Resources <<
/ColorSpace <<
/CS0 [/ICCBased 239 0 R]
>>
/ExtGState <<
/GS0 241 0 R
>>
/Font <<
/T1_0 242 0 R
/T1_1 243 0 R
/T1_2 245 0 R
/T1_3 271 0 R
/T1_4 277 0 R
/T1_5 244 0 R
/T1_6 278 0 R
/T1_7 301 0 R
/T1_8 485 0 R
/T1_9 486 0 R
>>
/ProcSet [/PDF /Text /ImageC]
/Properties <<
/MC0 487 0 R
>>
/XObject <<
/Im0 488 0 R
>>
>>
/Rotate 0
/Thumb 489 0 R
/Type /Page
>>
endobj
49 0 obj
<<
/Annots [490 0 R 491 0 R 492 0 R 493 0 R 494 0 R]
/Contents 495 0 R
/CropBox [0 0 595.276 842.457]
/MediaBox [0 0 595.276 841.89]
/Parent 30 0 R
/Resources <<
/ColorSpace <<
/CS0 [/ICCBased 239 0 R]
>>
/ExtGState <<
/GS0 241 0 R
>>
/Font <<
/T1_0 243 0 R
/T1_1 242 0 R
/T1_2 244 0 R
/T1_3 277 0 R
/T1_4 301 0 R
/T1_5 485 0 R
>>
/ProcSet [/PDF /Text]
>>
/Rotate 0
/Thumb 496 0 R
/Type /Page
>>
endobj
50 0 obj
<<
/Annots [497 0 R 498 0 R 499 0 R 500 0 R 501 0 R]
/Contents 502 0 R
/CropBox [0 0 595.276 842.457]
/MediaBox [0 0 595.276 841.89]
/Parent 30 0 R
/Resources <<
/ColorSpace <<
/CS0 [/ICCBased 239 0 R]
>>
/ExtGState <<
/GS0 241 0 R
/GS1 300 0 R
>>
/Font <<
/T1_0 242 0 R
/T1_1 243 0 R
/T1_2 271 0 R
/T1_3 277 0 R
>>
/ProcSet [/PDF /Text]
/Properties <<
/MC0 503 0 R
>>
>>
/Rotate 0
/Thumb 504 0 R
/Type /Page
>>
endobj
51 0 obj
<<
/Annots [505 0 R 506 0 R 507 0 R 508 0 R 509 0 R 510 0 R 511 0 R 512 0 R]
/Contents 513 0 R
/CropBox [0 0 595.276 842.457]
/MediaBox [0 0 595.276 841.89]
/Parent 30 0 R
/Resources <<
/ColorSpace <<
/CS0 [/ICCBased 239 0 R]
>>
/ExtGState <<
/GS0 241 0 R
>>
/Font <<
/T1_0 243 0 R
/T1_1 242 0 R
/T1_2 277 0 R
/T1_3 244 0 R
/T1_4 278 0 R
/T1_5 486 0 R
>>
/ProcSet [/PDF /Text]
>>
/Rotate 0
/Thumb 514 0 R
/Type /Page
>>
endobj
52 0 obj
<<
/Annots [515 0 R]
/Contents 516 0 R
/CropBox [0 0 595.276 842.457]
/MediaBox [0 0 595.276 841.89]
/Parent 30 0 R
/Resources <<
/ColorSpace <<
/CS0 [/ICCBased 239 0 R]
>>
/ExtGState <<
/GS0 241 0 R
/GS1 300 0 R
>>
/Font <<
/T1_0 242 0 R
/T1_1 243 0 R
/T1_2 245 0 R
>>
/ProcSet [/PDF /Text]
/Properties <<
/MC0 517 0 R
>>
>>
/Rotate 0
/Thumb 518 0 R
/Type /Page
>>
endobj
53 0 obj
<<
/Annots [519 0 R 520 0 R 521 0 R 522 0 R 523 0 R]
/Contents 524 0 R
/CropBox [0 0 595.276 842.457]
/MediaBox [0 0 595.276 841.89]
/Parent 30 0 R
/Resources <<
/ColorSpace <<
/CS0 [/ICCBased 239 0 R]
>>
/ExtGState <<
/GS0 241 0 R
>>
/Font <<
/T1_0 243 0 R
/T1_1 242 0 R
/T1_2 245 0 R
/T1_3 277 0 R
/T1_4 525 0 R
>>
/ProcSet [/PDF /Text]
/Properties <<
/MC0 526 0 R
/MC1 527 0 R
/MC2 528 0 R
/MC3 529 0 R
>>
>>
/Rotate 0
/Thumb 530 0 R
/Type /Page
>>
endobj
54 0 obj
<<
/Contents 531 0 R
/CropBox [0 0 595.276 842.457]
/MediaBox [0 0 595.276 841.89]
/Parent 30 0 R
/Resources <<
/ColorSpace <<
/CS0 [/ICCBased 239 0 R]
>>
/ExtGState <<
/GS0 241 0 R
>>
/Font <<
/T1_0 242 0 R
/T1_1 243 0 R
/T1_2 245 0 R
/T1_3 244 0 R
/T1_4 277 0 R
>>
/ProcSet [/PDF /Text]
>>
/Rotate 0
/Thumb 532 0 R
/Type /Page
>>
endobj
55 0 obj
<<
/Contents 533 0 R
/CropBox [0 0 595.276 842.457]
/MediaBox [0 0 595.276 841.89]
/Parent 30 0 R
/Resources <<
/ColorSpace <<
/CS0 [/ICCBased 239 0 R]
>>
/ExtGState <<
/GS0 241 0 R
/GS1 300 0 R
>>
/Font <<
/T1_0 243 0 R
/T1_1 242 0 R
/T1_2 245 0 R
>>
/ProcSet [/PDF /Text]
/Properties <<
/MC0 534 0 R
>>
>>
/Rotate 0
/Thumb 535 0 R
/Type /Page
>>
endobj
56 0 obj
<<
/D [38 0 R /XYZ 137 577 null]
>>
endobj
57 0 obj
<<
/D [38 0 R /XYZ 178 565 null]
>>
endobj
58 0 obj
<<
/D [38 0 R /XYZ 190 553 null]
>>
endobj
59 0 obj
<<
/D [38 0 R /XYZ 138 541 null]
>>
endobj
60 0 obj
<<
/D [40 0 R /XYZ 288 151 null]
>>
endobj
61 0 obj
<<
/D [41 0 R /XYZ 279 648 null]
>>
endobj
62 0 obj
<<
/D [41 0 R /XYZ 279 75 null]
>>
endobj
63 0 obj
<<
/D [41 0 R /XYZ 537 733 null]
>>
endobj
64 0 obj
<<
/D [41 0 R /XYZ 532 601 null]
>>
endobj
65 0 obj
<<
/D [41 0 R /XYZ 533 534 null]
>>
endobj
66 0 obj
<<
/D [41 0 R /XYZ 532 289 null]
>>
endobj
67 0 obj
<<
/D [41 0 R /XYZ 532 250 null]
>>
endobj
68 0 obj
<<
/D [41 0 R /XYZ 532 207 null]
>>
endobj
69 0 obj
<<
/D [42 0 R /XYZ 283 219 null]
>>
endobj
70 0 obj
<<
/D [42 0 R /XYZ 541 473 null]
>>
endobj
71 0 obj
<<
/D [40 0 R /XYZ 546 130 null]
>>
endobj
72 0 obj
<<
/D [42 0 R /XYZ 541 348 null]
>>
endobj
73 0 obj
<<
/D [42 0 R /XYZ 541 291 null]
>>
endobj
74 0 obj
<<
/D [46 0 R /XYZ 283 360 null]
>>
endobj
75 0 obj
<<
/D [46 0 R /XYZ 283 222 null]
>>
endobj
76 0 obj
<<
/D [46 0 R /XYZ 283 146 null]
>>
endobj
77 0 obj
<<
/D [46 0 R /XYZ 541 479 null]
>>
endobj
78 0 obj
<<
/D [48 0 R /XYZ 283 257 null]
>>
endobj
79 0 obj
<<
/D [48 0 R /XYZ 541 720 null]
>>
endobj
80 0 obj
<<
/D [48 0 R /XYZ 541 610 null]
>>
endobj
81 0 obj
<<
/D [40 0 R /XYZ 546 71 null]
>>
endobj
82 0 obj
<<
/D [48 0 R /XYZ 541 453 null]
>>
endobj
83 0 obj
<<
/D [48 0 R /XYZ 541 275 null]
>>
endobj
84 0 obj
<<
/D [49 0 R /XYZ 274 143 null]
>>
endobj
85 0 obj
<<
/D [49 0 R /XYZ 532 459 null]
>>
endobj
86 0 obj
<<
/D [49 0 R /XYZ 532 398 null]
>>
endobj
87 0 obj
<<
/D [49 0 R /XYZ 532 312 null]
>>
endobj
88 0 obj
<<
/D [49 0 R /XYZ 532 253 null]
>>
endobj
89 0 obj
<<
/D [51 0 R /XYZ 532 287 null]
>>
endobj
90 0 obj
<<
/D [41 0 R /XYZ 279 764 null]
>>
endobj
91 0 obj
<<
/D [41 0 R /XYZ 279 707 null]
>>
endobj
92 0 obj
<<
/D [41 0 R /XYZ 279 677 null]
>>
endobj
93 0 obj
<<
/D [53 0 R /XYZ 42 189 null]
>>
endobj
94 0 obj
<<
/D [53 0 R /XYZ 42 159 null]
>>
endobj
95 0 obj
<<
/D [53 0 R /XYZ 42 139 null]
>>
endobj
96 0 obj
<<
/D [53 0 R /XYZ 42 109 null]
>>
endobj
97 0 obj
<<
/D [53 0 R /XYZ 42 79 null]
>>
endobj
98 0 obj
<<
/D [53 0 R /XYZ 300 769 null]
>>
endobj
99 0 obj
<<
/D [53 0 R /XYZ 300 739 null]
>>
endobj
100 0 obj
<<
/D [53 0 R /XYZ 300 709 null]
>>
endobj
101 0 obj
<<
/D [53 0 R /XYZ 300 679 null]
>>
endobj
102 0 obj
<<
/D [53 0 R /XYZ 300 649 null]
>>
endobj
103 0 obj
<<
/D [53 0 R /XYZ 300 629 null]
>>
endobj
104 0 obj
<<
/D [53 0 R /XYZ 300 609 null]
>>
endobj
105 0 obj
<<
/D [53 0 R /XYZ 300 589 null]
>>
endobj
106 0 obj
<<
/D [53 0 R /XYZ 300 569 null]
>>
endobj
107 0 obj
<<
/D [53 0 R /XYZ 300 539 null]
>>
endobj
108 0 obj
<<
/D [53 0 R /XYZ 300 519 null]
>>
endobj
109 0 obj
<<
/D [53 0 R /XYZ 300 489 null]
>>
endobj
110 0 obj
<<
/D [53 0 R /XYZ 300 469 null]
>>
endobj
111 0 obj
<<
/D [53 0 R /XYZ 300 449 null]
>>
endobj
112 0 obj
<<
/D [53 0 R /XYZ 300 419 null]
>>
endobj
113 0 obj
<<
/D [53 0 R /XYZ 300 389 null]
>>
endobj
114 0 obj
<<
/D [53 0 R /XYZ 300 369 null]
>>
endobj
115 0 obj
<<
/D [53 0 R /XYZ 300 349 null]
>>
endobj
116 0 obj
<<
/D [53 0 R /XYZ 300 319 null]
>>
endobj
117 0 obj
<<
/D [53 0 R /XYZ 300 289 null]
>>
endobj
118 0 obj
<<
/D [53 0 R /XYZ 300 249 null]
>>
endobj
119 0 obj
<<
/D [53 0 R /XYZ 300 239 null]
>>
endobj
120 0 obj
<<
/D [53 0 R /XYZ 300 219 null]
>>
endobj
121 0 obj
<<
/D [53 0 R /XYZ 300 189 null]
>>
endobj
122 0 obj
<<
/D [53 0 R /XYZ 300 159 null]
>>
endobj
123 0 obj
<<
/D [53 0 R /XYZ 300 139 null]
>>
endobj
124 0 obj
<<
/D [53 0 R /XYZ 300 109 null]
>>
endobj
125 0 obj
<<
/D [53 0 R /XYZ 300 79 null]
>>
endobj
126 0 obj
<<
/D [38 0 R /XYZ 50 246 null]
>>
endobj
127 0 obj
<<
/D [39 0 R /XYZ 306 84 null]
>>
endobj
128 0 obj
<<
/D [38 0 R /XYZ 50 246 null]
>>
endobj
129 0 obj
<<
/D [38 0 R /XYZ 50 84 null]
>>
endobj
130 0 obj
<<
/D [40 0 R /XYZ 119 151 null]
>>
endobj
131 0 obj
<<
/D [48 0 R /XYZ 152 257 null]
>>
endobj
132 0 obj
<<
/D [42 0 R /XYZ 89 631 null]
>>
endobj
133 0 obj
<<
/D [52 0 R /XYZ 94 481 null]
>>
endobj
134 0 obj
<<
/D [43 0 R /XYZ 80 506 null]
>>
endobj
135 0 obj
<<
/D [44 0 R /XYZ 88 388 null]
>>
endobj
136 0 obj
<<
/D [45 0 R /XYZ 79 398 null]
>>
endobj
137 0 obj
<<
/D [46 0 R /XYZ 88 595 null]
>>
endobj
138 0 obj
<<
/D [47 0 R /XYZ 80 589 null]
>>
endobj
139 0 obj
<<
/D [47 0 R /XYZ 79 93 null]
>>
endobj
140 0 obj
<<
/D [48 0 R /XYZ 88 592 null]
>>
endobj
141 0 obj
<<
/D [50 0 R /XYZ 88 361 null]
>>
endobj
142 0 obj
<<
/D [55 0 R /XYZ 86 537 null]
>>
endobj
143 0 obj
<<
/D [38 0 R /XYZ 49 799 null]
>>
endobj
144 0 obj
<<
/D [47 0 R /XYZ 41 799 null]
>>
endobj
145 0 obj
<<
/D [48 0 R /XYZ 49 799 null]
>>
endobj
146 0 obj
<<
/D [49 0 R /XYZ 41 799 null]
>>
endobj
147 0 obj
<<
/D [50 0 R /XYZ 49 799 null]
>>
endobj
148 0 obj
<<
/D [51 0 R /XYZ 41 799 null]
>>
endobj
149 0 obj
<<
/D [52 0 R /XYZ 49 799 null]
>>
endobj
150 0 obj
<<
/D [53 0 R /XYZ 41 799 null]
>>
endobj
151 0 obj
<<
/D [54 0 R /XYZ 49 799 null]
>>
endobj
152 0 obj
<<
/D [55 0 R /XYZ 41 799 null]
>>
endobj
153 0 obj
<<
/D [39 0 R /XYZ 41 799 null]
>>
endobj
154 0 obj
<<
/D [40 0 R /XYZ 49 799 null]
>>
endobj
155 0 obj
<<
/D [41 0 R /XYZ 41 799 null]
>>
endobj
156 0 obj
<<
/D [42 0 R /XYZ 49 799 null]
>>
endobj
157 0 obj
<<
/D [43 0 R /XYZ 41 799 null]
>>
endobj
158 0 obj
<<
/D [44 0 R /XYZ 49 799 null]
>>
endobj
159 0 obj
<<
/D [45 0 R /XYZ 41 799 null]
>>
endobj
160 0 obj
<<
/D [46 0 R /XYZ 49 799 null]
>>
endobj
161 0 obj
<<
/D [53 0 R /XYZ 42 563 null]
>>
endobj
162 0 obj
<<
/D [53 0 R /XYZ 42 501 null]
>>
endobj
163 0 obj
<<
/D [53 0 R /XYZ 42 307 null]
>>
endobj
164 0 obj
<<
/D [53 0 R /XYZ 42 207 null]
>>
endobj
165 0 obj
<<
/D [54 0 R /XYZ 50 763 null]
>>
endobj
166 0 obj
<<
/D [54 0 R /XYZ 50 739 null]
>>
endobj
167 0 obj
<<
/D [55 0 R /XYZ 42 763 null]
>>
endobj
168 0 obj
<<
/D [38 0 R /XYZ 50 246 null]
>>
endobj
169 0 obj
<<
/D [39 0 R /XYZ 300 314 null]
>>
endobj
170 0 obj
<<
/D [40 0 R /XYZ 50 285 null]
>>
endobj
171 0 obj
<<
/D [48 0 R /XYZ 50 372 null]
>>
endobj
172 0 obj
<<
/D [52 0 R /XYZ 50 156 null]
>>
endobj
173 0 obj
<<
/D [39 0 R /XYZ 300 290 null]
>>
endobj
174 0 obj
<<
/D [40 0 R /XYZ 50 720 null]
>>
endobj
175 0 obj
<<
/D [40 0 R /XYZ 50 261 null]
>>
endobj
176 0 obj
<<
/D [42 0 R /XYZ 308 135 null]
>>
endobj
177 0 obj
<<
/D [48 0 R /XYZ 50 348 null]
>>
endobj
178 0 obj
<<
/D [48 0 R /XYZ 308 137 null]
>>
endobj
179 0 obj
<<
/D [50 0 R /XYZ 308 153 null]
>>
endobj
180 0 obj
<<
/D [40 0 R /XYZ 351 770 null]
>>
endobj
181 0 obj
<<
/D [43 0 R /XYZ 79 447 null]
>>
endobj
182 0 obj
<<
/D [43 0 R /XYZ 341 447 null]
>>
endobj
183 0 obj
<<
/D [50 0 R /XYZ 144 768 null]
>>
endobj
184 0 obj
<<
/D [50 0 R /XYZ 370 313 null]
>>
endobj
185 0 obj
<<
/D [51 0 R /XYZ 78 770 null]
>>
endobj
186 0 obj
<<
/D [51 0 R /XYZ 78 668 null]
>>
endobj
187 0 obj
<<
/D [54 0 R /XYZ 93 697 null]
>>
endobj
188 0 obj
<<
/EF <<
/F 536 0 R
>>
/F (folder.joboptions)
/Type /Filespec
/UF
>>
endobj
189 0 obj
<<
/Dest (subsection.2.1)
/Next 190 0 R
/Parent 35 0 R
/Title (2.1. Credit default swaps)
>>
endobj
190 0 obj
<<
/Dest (subsection.2.2)
/Parent 35 0 R
/Prev 189 0 R
/Title (2.2. Description of the data-set)
>>
endobj
191 0 obj
<<
/Count 2
/Dest (section.3)
/First 537 0 R
/Last 538 0 R
/Next 539 0 R
/Parent 4 0 R
/Prev 35 0 R
/Title (3. Community detection on CDS correlation matrices)
>>
endobj
192 0 obj
<<
/Dest (section*.41)
/Next 36 0 R
/Parent 4 0 R
/Prev 540 0 R
/Title (References)
>>
endobj
193 0 obj
<<
/Font <<
/F60 541 0 R
/F54 542 0 R
/F59 543 0 R
>>
/ProcSet [/PDF /ImageB /ImageC /Text]
/XObject <<
/Im8 544 0 R
/Im11 545 0 R
/Im12 546 0 R
/Im4 547 0 R
/Im6 548 0 R
/Im14 549 0 R
/Im9 550 0 R
/Im3 551 0 R
/Im1 552 0 R
/Im10 553 0 R
/Im5 554 0 R
/Im2 555 0 R
/Im7 556 0 R
/Im13 557 0 R
>>
/ColorSpace <<
/DefaultRGB [/ICCBased 558 0 R]
>>
>>
endobj
194 0 obj
<<
/Type /Annot
/Subtype /Link
/Rect [155.875 42.905 478.444 51.896]
/C [0 0 0]
/Border [0 0 0]
/A 559 0 R
/H /I
>>
endobj
195 0 obj
<<
/Type /Annot
/Subtype /Link
/Rect [283.176 688.444 437.72 696.436]
/C [0 0 0]
/Border [0 0 0]
/A 560 0 R
/H /I
>>
endobj
196 0 obj
<<
/Type /Annot
/Subtype /Link
/Rect [217.59 500.664 367.67 510.034]
/C [0 0 0]
/Border [0 0 0]
/A 561 0 R
/H /I
>>
endobj
197 0 obj
<<
/Type /Annot
/Subtype /Link
/Rect [202.3 480.094 427.29 490.084]
/C [0 0 0]
/Border [0 0 0]
/A 562 0 R
/H /I
>>
endobj
198 0 obj
<<
/Type /Annot
/Subtype /Link
/Rect [106.6 338.569 124.18 347.56]
/C [0 0 0]
/Border [0 0 0]
/A 563 0 R
/H /I
>>
endobj
199 0 obj
<<
/Type /Annot
/Subtype /Link
/Rect [131.8 338.055 286.982 347.046]
/C [0 0 0]
/Border [0 0 0]
/A 563 0 R
/H /I
>>
endobj
200 0 obj
<<
/Type /Annot
/Subtype /Link
/Rect [106.6 291.211 122.36 300.202]
/C [0 0 0]
/Border [0 0 0]
/A 564 0 R
/H /I
>>
endobj
201 0 obj
<<
/Type /Annot
/Subtype /Link
/Rect [131.8 295.155 230.84 304.146]
/C [0 0 0]
/Border [0 0 0]
/A 564 0 R
/H /I
>>
endobj
202 0 obj
<<
/Type /Annot
/Subtype /Link
/Rect [106.6 245.691 125.16 254.682]
/C [0 0 0]
/Border [0 0 0]
/A 565 0 R
/H /I
>>
endobj
203 0 obj
<<
/Type /Annot
/Subtype /Link
/Rect [131.8 252.255 232.586 261.246]
/C [0 0 0]
/Border [0 0 0]
/A 565 0 R
/H /I
>>
endobj
204 0 obj
<<
/Length 1873
/Filter /FlateDecode
>>
stream
xYˎ5߯H.0(+ Ȁߧ\e!hn\c'}6AtV٠!Dty<Ǫz|7bwXF{j'[cbݵxx??T|h×Ҿ[+a{zO<ܽ]$L$7w'}NRd`ު&C^*xzD/unr=`SfigD#|'߲fҬI켈3aE$r[wO",_yYU(Y+Zk~]OtVQ5 YXkVOJ4!W~5UOMO69D\M-b).;yr~UNs2L3DVVKҒ
V%m
|%_}d/5{ fGJYϾjKVB_5t$J0,.Tc]ݕڶ*sB#\Ư`+[ݜ.cM!Dj qK#MY/,:fPŇu*V;鲅dLʺ<{orP]V.5:|{>/Cs|%`(p8`x=~0ķ$PPj:'UӿS6mնWW`L? $ChVih)TeInYA&sſEG*nr>4Ud;)-