Good work Myles. Kinda confirms my highly unscientific instincts to stick to B.C.D's but also indicates might not be worth going beyond D2 though in practice supply is limited so you get what you can to some extent. Would be really interested to have the standard deviations for the default rate estimates from Harmoney. Could flex the default rates +/- 50% (though suspect more downside than upside at this point in the cycle)and see what returns that yields...