Testing term structure estimation methods:evidence from the UK STRIPs market

Prices and yields of UK government zero-coupon bonds are used to test alternative yield curve estimation models. Zero-coupon bonds permit a more pure comparison, as the models are providing only the interpolation service and also not making estimation feasible. It is found that better yield curves estimates are obtained by fitting to the yield curve directly rather than fitting first to the discount function. A simple procedure to set the smoothness of the fitted curves is developed, and a positive relationship between oversmoothness and the fitting error is identified. A cubic spline function fitted directly to the yield curve provides the best overall balance of fitting error and smoothness, both along the yield curve and within local maturity regions.

Soredial dispersal from individual soralia in the lichen Hypogymnia physodes (L.) Nyl.

Soredial dispersal from individual soralia of Hypogymnia physodes (L.) Nyl. was studied in the field under natural conditions and by exposing the soralia to an electric fan. Individual soralia were placed on the adhesive surface of dust particle collectors which were pinned to vertical boards in the field. The majority of soredia that were deposited on the adhesive strips during the experiments were found within 1 cm of the source soralium. Deposition was studied over 6 successive days under natural conditions. Significantly fewer soredia were deposited from soralia after removal of mature accumulations and from soralia taken from moist thalli compared with soralia from air dry thalli. In addition, there was a decline in soredial deposition over the 6 days. The influence of wind speed and initial thallus moisture content on soredial deposition over short intervals of time was studied using an electric fan. More soredia and larger soredial clusters were deposited from air dry than moist soralia at all wind speeds. Variation in wind speed between 4 and 9 m/sec had little effect on soredial deposition. Deposition of soredia was also studied using the fan over successive 5-min intervals. Large numbers of soredia were deposited during the first 5-min period. Deposition then declined but recovered after about four 5-min periods. In all experiments there were differences between individual soralia in total numbers of soredia deposited and in the pattern of deposition over time. These results suggest (1) soredia accumulate on soralia and these deposits may be gradually or rapidly depleted in the field, (2) that after the release of soredial accumulations some newly exposed soredia may be rapidly dispersed, (3) a high initial thallus moisture content inhibits soredial release and (4) variation in wind speed is less important than moisture in influencing soredial deposition. The results may help to explain the intermittent pattern of soredial deposition and the poor correlations between deposition and climatic factors observed previously in the field. © 1992.

Dispersal in a population of the lichen Hypogymnia physodes

Dispersal of a Hypogymnia physodes (L.) Nyl. population was studied on an isolated Prunus blireiana L. tree at a site in North Seattle, U.S.A. Lichen propagules were trapped on adhesive strips pinned to four sites on the tree for 7 successive days. Soredia of H. physodes were frequently deposited on the strips but thallus fragments were rare. More soredia were deposited on the upper and lower branches than on the trunk, few soredia were deposited on the underside of the branches. The total daily deposition of soredia on the tree was positively correlated with average daily wind speed. Dispersal downwind from the tree was studied with squares of adhesive contact paper pinned to boards and located at intervals up to 25 m from the tree. Soredia and a few thallus fragments were recorded 25 m and 10 m, respectively, downwind on a day when average wind speed was 10.3 m/sec. The dispersal of soredia by wind from four individual thalli was studied over 10 successive days. Soredia were deposited from each thallus on each day mostly within 2 cm of the source. Higher wind speeds were necessary to dispersae soredia on days when the relative humidity was high. Soredia and thallus fragments were also dispersed by splash dispersal. More soredia were splashed furthest at a splash height of 90 cm. These results suggest that initial colonization of the tree by H. physodes may have occurred by wind-dispersed soredia. Subsequent spread probably occurred from established thalli mainly by the dispersal of soredia by wind and rain splash.

The influence of climate on the dispersal of lichen soredia

The relationship between the daily deposition of soredia of Hypogymnia physodes (L.) Nyl. and local climatic records was studied in the field during three periods at a site in Seattle, WA, U.S.A: (1) 11 August – 16 September 1986 (Study A); (2) 16 December – 11 January 1987 (Study B) and (3) 8 July 1988 – 30 January 1989 (Study C). The soredia were trapped on adhesive strips placed at various locations on a Prunus blireiana L. tree for 24 hr periods. A correlation matrix of the data from all three studies revealed a negative correlation between soredial deposition and relative humidity; and a positive correlation with rainfall and temperature. A multiple regression and forward stepwise regression analysis selected relative humidity as the most significant climatic variable, i.e. more soredia tended to be deposited when relative humidity was low. Analysis of individual studies by multiple regression revealed: (1) no significant relationships between soredial deposition and climate in Study A; (2) positive relationships with temperature and wind speed in Study B and (3) positive relationships with wind speed and rainfall in the summer/autumn months of Study C; in the winter months no relationships with climate were found because few soredia were deposited. The data suggest that in the field seasonal photoperiod differences combined with moderately high temperatures and high relative humidity may promote soredial formation and accumulation on thalli prior to soredia dispersal. In addition, low relative humidity may promote soredial release while wind and raindrops may be possible agents of dispersal.

Dispersal, establishment and survival of soredia and fragments of the lichen, Hypogymnia physodes (L.) Nyl.

Dispersal, establishment and survival were studied in a population of Hypogymnia physodes (L.) Nyl. growing on an isolated tree (Prunus blireiana L.) at a site in North Seattle, U.S.A. Lichen propagules were trapped daily on adhesive strips pinned to various sites on the tree over a period of 36 days. Both soredia and fragments were deposited on the strips, particularly on the upper branches of the tree, with soredia being considerably more numerous than fragments. Daily variation in total soredia deposited did not correlate with 10 climatic variables including wind speed, relative humidity and average temperature. Establishment and survival of propagules were studied by introducing soredia and fragments into various sites on the bark and by observing the distribution of small thalli in different microsites. Microtopography of bark significantly influenced establishment and survival. Survival was poor on smooth bark compared with survival on algal or lichen crusts and on rough bark. Survival of soredia did not vary significantly at different locations on the tree. It is likely that colonization of the tree by H. physodes occurs largely by soredia. Colonization appears to be limited more by the range of dispersal over the tree than by differential survival over different parts of the tree.

The ecology of algae in relation to river water equality surveillance

The broad objectives of the work were to develop standard methods for the routine biological surveillance of river water quality, using the non-planktonic algae. Studies on sampling methodology indicated that natural substrata should be sampled directly wherever possible, but for routine purposes, only a semi-quantitative approach was found to be feasible. Artificial substrata were considered to be useful for sample collection in deeper waters, and of three different types tested, Polythene strips were selected for further investigation essentially on grounds of practicality. These were tested in the deeper reaches of a wide range of river types and water qualities: 26 pool sites in 14 different rivers were studied over a period of 9 months. At each site, the assemblages developing on 3 strips following a 4, or less commonly, an 3 week immersion period were analysed quantitatively. Where possible, the natural substrata were also sampled semi-quantitatively at each site, and at a nearby riffle. The results of this survey were very fragmentary: many strips failed to yield useful data, and the results were often difficult to interpret, and of limited value for water quality surveillance purposes. In one river, the Churnet, the natural substrata at 14 riffle sites were sampled semi-quantitatively on 14 occasions at intervals of 4 weeks. In this survey, the results were more readily interpreted in relation to water quality, and no special data processing was found to be necessary or helpful. Further studies carried out on the filamentous green alga Cladophora showed that this alga may have some value as a bioaccumulation indicator for metals, and as a bioassay organism for the assessment of the algal growth promoting potential of natural river waters.

Local and systemic delivery of a novel group of inhibitors of transglutaminase enzyme: A potential approach for treating of catheter-related complications and liver fibrosis

The present thesis investigates targeted (locally and systemically) delivery of a novel group of inhibitors of enzyme transglutaminases (TGs). TGs are a widely distributed group of enzymes that catalyse the formation of isopeptide bonds between the y-carboxamide group of protein-bound glutamines and the a-amino group of protein-bound lysines or polyamines. The first group of the novel inhibitors tested were the tluorescently labelled inhibitors of Factor XIIIa (FXIIIa). These small, non-toxic inhibitors have the potential to prevent stabilisation of thrombi by FXIIIa and consequently increase the natural rate of thrombolysis, in addition it reduces staphylococcal colonisation of catheters by inhibiting their FXIIIa¬mediated cross-linking to blood clot proteins on the central venous catheter (CVCs) surface. The aim of this work was to incorporate the FXIIIa inhibitor either within coating of polyurethane (PU) catheters or to integrate it into silicone catheters, so as to reduce the incidence of thrombotic occlusion and associated bacterial infection in CVCs. The initial work focused on the incorporation of FXIIIa inhibitors within polymeric coatings of PU catheters. After defining the key characteristics desired for an effective polymeric-coating, polyvinylpyrrolidone (PVP), poly(lactic-co-glycolic acid) (PLGA) or their combination were studies as polymers of choice for coating of the catheters_ The coating was conducted by dip-coating method in a polymer solution containing the inhibitor. Upon incubation of the inhibitor-and polymer-coated strips in buffer, PVP was dissolved instantly, generating fast and significant drug release, whilst PLGA did not dissolve, yielding a slow and an insufficient amount of drug release. Nevertheless, the drug release profile was enhanced upon employing a blend solution of PVP and PLGA. The second part of the study was to incorporate the FXIIIa inhibitor into a silicone elastomer; results demonstrated that FXIIIa inhibitor can be incorporated and released from silicone by using citric acid (CA) and sodium bicarbonate (SB) as additives and the drug release rate can be controlled by the amount of incorporated additives in the silicone matrix. Furthermore, it was deemed that the inhibitor was still biologically active subsequent to being released from the silicone elastomer strips. Morphological analysis confirmed the formation of channels and cracks inside the specimens upon the addition of CA and SB. Nevertheless, the tensile strength, in addition to Young's modulus of silicone elastomer strips, decreased constantly with an increasing amount of amalgamated CA/ SB in the formulations. According to our results, incorporation of FXIIIa inhibitor into catheters and other medical implant devices could offer new perspectives in preventing bio-material associated infections and thrombosis. The use of tissue transglutaminase (T02) inhibitor for treating of liver fibrosis was also investigated. Liver fibrosis is characterized by increased synthesis and decreased degradation of the extracellular matrix (ECM). Transglutaminase-mediated covalent cross-linking is involved in the stabilization of ECM in human liver fibrosis. Thus, TG2 inhibitors may be used to counteract the decreased degradation of the ECM. The potential of a liposome based drug delivery system for site specific delivery of the fluorescent TG2 inhibitor into the liver was investigated; results indicated that the TG2 inhibitor can be successfully integrated into liposomes and delivered to the liver, therefore demonstrating that liposomes can be employed for site-specific delivery of TG2 inhibitors into the liver and TG2 inhibitor incorporating liposomes could offer a new approach in treating liver fibrosis and its end stage disease cirrhosis.

Another angle on contact lens surface analysis

Purpose: Dynamic contact angle (DCA) methods have advantages over other contact angle methodologies, not least that they can provide more than single contact angle values. Here we illustrate the use of DCA analysis to provide “fingerprint” characterisation of contact lens surfaces, and the way that different materials change in the early stages of wear. Method: The DCA method involves attaching to a microbalance weighted strips cut from a lens. The strips are then cyclically inserted into and removed from an aqueous solution. Conventionally, readings of force taken from linear portions of the resultant dipping curves are translated into advancing (CAa) and receding contact (CAr) angles. Additionally, analysis of the force versus immersion profile provides a “fingerprint” characterisation of the state of the lens surface. Results: CAa and CAr values from DCA traces provide a useful means of differentiating gross differences in hydrophilicity and molecular mobility of surfaces under particular immersion and emersion conditions, such as dipping rate and dwell times. Typical values for etafilcon A (CAa:63.1; CAr:37) and balafilcon B (CAa:118.4; CAr:36.4) illustrate this. Surface modifications induced in lens manufacture are observed to produce not only changes in these value, which may be small, but also changes in the DCA “fingerprint” (slope, undulations, length of plateau). Interestingly, similar changes are induced in the first few hours of lens wear with some lens-patient combinations. Conclusions: Although single parameter contact angles are useful for material characterisation, information of potential clinical interest can be obtained from more detailed analysis of DCA traces.

Sex steroids and intestinal amino acid transport in rainbow trout, Salmo airdneri Richardson

The effects of sane anabolic and naturally-occuring sex steroids on intestinal transport of leucine have been studied in rainbow trout (Sallno gairdneri), in vivo (gut perfusion), and in vitro (everted gut sacs or intestinal strips). Administration of 17a-methyltestosterone (Mr) by injection for a prolo03ed period of time, enhanced intestinal transport and accumulation of leucine. 11-ketotestosterone (KT) or MT treatment in vitro, by direct addition to incubation media, elicited significant short-term increases in active transport of leucine, without effecting intestinal accumulation. Luminal administration of Mr in vivo similarly elicited short-term responses, without effecting leucine accumulation in the intestine or other peripheral tissues. However; neither MT nor KT significantly affected intestinal transport of water in trout. Although long term injection of oestradiol (E2) enhanced intestinal transport and accumulation of leucine, E2 treatment in vitro was without effect. Addition of ouabain or 2,4,dinitrophenol in the presence of MT abolished steroid-stimulated leucine transform, in vitro. No significant differences were observed between immature male or female trout with respect to either transport of leucine and water, or intestinal granular cell density. However, 'apparent' Na+ absorption and percentage fold height were higher in females, while total intestinal thickness and enterocyte heights were greater in males. These sex differences were essentially abolished. after gonadectany. It is suggested that the short-term effects of the androgenic steroids might be partly mediated through increased activity of Na+,K+,ATPase, and that steroid-induced growth promotion in fish may,to sane extent, be a consequence of enhanced efficiency of intestinal function.

A method for systematic artifact selection decision making

Artifact selection decisions typically involve the selection of one from a number of possible/candidate options (decision alternatives). In order to support such decisions, it is important to identify and recognize relevant key issues of problem solving and decision making (Albers, 1996; Harris, 1998a, 1998b; Jacobs & Holten, 1995; Loch & Conger, 1996; Rumble, 1991; Sauter, 1999; Simon, 1986). Sauter classifies four problem solving/decision making styles: (1) left-brain style, (2) right-brain style, (3) accommodating, and (4) integrated (Sauter, 1999). The left-brain style employs analytical and quantitative techniques and relies on rational and logical reasoning. In an effort to achieve predictability and minimize uncertainty, problems are explicitly defined, solution methods are determined, orderly information searches are conducted, and analysis is increasingly refined. Left-brain style decision making works best when it is possible to predict/control, measure, and quantify all relevant variables, and when information is complete. In direct contrast, right-brain style decision making is based on intuitive techniques—it places more emphasis on feelings than facts. Accommodating decision makers use their non-dominant style when they realize that it will work best in a given situation. Lastly, integrated style decision makers are able to combine the left- and right-brain styles—they use analytical processes to filter information and intuition to contend with uncertainty and complexity.

A method for systematic artifact selection decision making

Artifact selection decisions typically involve the selection of one from a number of possible/candidate options (decision alternatives). In order to support such decisions, it is important to identify and recognize relevant key issues of problem solving and decision making (Albers, 1996; Harris, 1998a, 1998b; Jacobs & Holten, 1995; Loch & Conger, 1996; Rumble, 1991; Sauter, 1999; Simon, 1986). Sauter classifies four problem solving/decision making styles: (1) left-brain style, (2) right-brain style, (3) accommodating, and (4) integrated (Sauter, 1999). The left-brain style employs analytical and quantitative techniques and relies on rational and logical reasoning. In an effort to achieve predictability and minimize uncertainty, problems are explicitly defined, solution methods are determined, orderly information searches are conducted, and analysis is increasingly refined. Left-brain style decision making works best when it is possible to predict/control, measure, and quantify all relevant variables, and when information is complete. In direct contrast, right-brain style decision making is based on intuitive techniques—it places more emphasis on feelings than facts. Accommodating decision makers use their non-dominant style when they realize that it will work best in a given situation. Lastly, integrated style decision makers are able to combine the left- and right-brain styles—they use analytical processes to filter information and intuition to contend with uncertainty and complexity.

Clinical evaluation of a novel test strip technology for blood glucose monitoring:accuracy at hypoglycaemic glucose levels

Aim: To evaluate OneTouch® Verio™ test strip performance at hypoglycaemic blood glucose (BG) levels (<3.9mmol/L [<70mg/dL]) at seven clinical studies. Methods: Trained clinical staff performed duplicate capillary BG monitoring system tests on 700 individuals with type 1 and type 2 diabetes using blood from a single fingerstick lancing. BG reference values were obtained using a YSI 2300 STAT™ Glucose Analyzer. The number and percentage of BG values within ±0.83. mmol/L (±15. mg/dL) and ±0.56. mmol/L (±10. mg/dL) were calculated at BG concentrations of <3.9. mmol/L (<70. mg/dL), <3.3. mmol/L (<60. mg/dL), and <2.8. mmol/L (<50. mg/dL). Results: At BG concentrations <3.9. mmol/L (<70. mg/dL), 674/674 (100%) of meter results were within ±0.83. mmol/L (±15. mg/dL) and 666/674 (98.8%) were within ±0.56. mmol/L (±10. mg/dL) of reference values. At BG concentrations <3.3. mmol/L (<60. mg/dL), and <2.8. mmol/L (<50. mg/dL), 358/358 (100%) and 270/270 (100%) were within ±0.56. mmol/L (±10. mg/dL) of reference values, respectively. Conclusion: In this analysis of data from seven independent studies, OneTouch Verio test strips provide highly accurate results at hypoglycaemic BG levels. © 2012 Elsevier Ireland Ltd.

Linear Fresnel mirror solar concentrator with tracking

Solar energy is the most abundant, widely distributed and clean renewable energy resource. Since the insolation intensity is only in the range of 0.5 - 1.0 kW/m2, solar concentrators are required for attaining temperatures appropriate for medium and high temperature applications. The concentrated energy is transferred through an absorber to a thermal fluid such as air, water or other fluids for various uses. This paper describes design and development of a 'Linear Fresnel Mirror Solar Concentrator' (LFMSC) using long thin strips of mirrors to focus sunlight on to a fixed receiver located at a common focal line. Our LFMSC system comprises a reflector (concentrator), receiver (target) and an innovative solar tracking mechanism. Reflectors are mirror strips, mounted on tubes which are fixed to a base frame. The tubes can be rotated to align the strips to focus solar radiation on the receiver (target). The latter comprises a coated tube carrying water and covered by a glass plate. This is mounted at an elevation of few meters above the horizontal, parallel to the plane of the mirrors. The reflector is oriented along north-south axis. The most difficult task is tracking. This is achieved by single axis tracking using a four bar link mechanism. Thus tracking has been made simple and easy to operate. The LFMSC setup is used for generating steam for a variety of applications. © 2013 The Authors. Published by Elsevier Ltd.

Resveratrol stimulates hydrogen sulfide (H2S) formation to relax murine corpus cavernosum

Introduction: Resveratrol (RVT) found in red wine protects against erectile dysfunction and relaxes penile tissue (corpus cavernosum) via a nitric oxide (NO) independent pathway. However, the mechanism remains to be elucidated. Hydrogen sulfide (H2S) is a potent vasodilator and neuromodulator generated in corpus cavernosum. Aims: We investigated whether RVT caused the relaxation of mice corpus cavernosum (MCC) through H2S. Methods: H2S formation is measured by methylene blue assay and vascular reactivity experiments have been performed by DMT strip myograph in CD1 MCC strips. Main Outcome Measures: Endothelial NO synthase (eNOS) inhibitor Nω-Nitro-L-arginine (L-NNA, 0.1mM) or H2S inhibitor aminooxyacetic acid (AOAA, 2mM) which inhibits both cystathionine-β-synthase (CBS) and cystathionine-gamma-lyase (CSE) enzyme or combination of AOAA with PAG (CSE inhibitor) has been used in the presence/absence of RVT (0.1mM, 30min) to elucidate the role of NO or H2S pathways on the effects of RVT in MCC. Concentration-dependent relaxations to RVT, L-cysteine, sodium hydrogen sulfide (NaHS) and acetylcholine (ACh) were studied. Results: Exposure of murine corpus cavernosum to RVT increased both basal and L-cysteine-stimulated H2S formation. Both of these effects were reversed by AOAA but not by L-NNA. RVT caused concentration-dependent relaxation of MCC and that RVT-induced relaxation was significantly inhibited by AOAA or AOAA+PAG but not by L-NNA. L-cysteine caused concentration-dependent relaxations, which are inhibited by AOAA or AOAA+PAG significantly. Incubation of MCC with RVT significantly increased L-cysteine-induced relaxation, and this effect was inhibited by AOAA+PAG. However, RVT did not alter the effect of exogenous H2S (NaHS) or ACh-induced relaxations. Conclusions: These results demonstrate that RVT-induced relaxation is at least partly dependent on H2S formation and acts independent of eNOS pathway. In phosphodiesterase 5 inhibitor (PDE-5i) nonresponder population, combination therapy with RVT may reverse erectile dysfunction via stimulating endogenous H2S formation. Yetik-Anacak G, Dereli MV, Sevin G, Ozzayim O, Erac Y, and Ahmed A. Resveratrol stimulates hydrogen sulfide (H2S) formation to relax murine corpus cavernosum.

Surface microbial consortia from Livarot, a French smear-ripened cheese

The surface microflora (902 isolates) of Livarot cheeses from three dairies was investigated during ripening. Yeasts were mainly identified by Fourier transform infrared spectroscopy. Geotrichum candidum was the dominating yeast among 10 species. Bacteria were identified using Biotype 100 strips, dereplicated by repetitive extragenic palindromic PCR (rep-PCR); 156 representative strains were identified by either BOX-PCR or (GTG) 55-PCR, and when appropriate by 16S rDNA sequencing and SDS-PAGE analysis. Gram-positive bacteria accounted for 65% of the isolates and were mainly assigned to the genera Arthrobacter, Brevibacterium, Corynebacterium, and Staphylococcus. New taxa related to the genera Agrococcus and Leucobacter were found. Yeast and Gram-positive bacteria strains deliberately added as smearing agents were sometimes undetected during ripening. Thirty-two percent of the isolates were Gram-negative bacteria, which showed a high level of diversity and mainly included members of the genera Alcaligenes, Hafnia, Proteus, Pseudomonas, and Psychrobacter. Whatever the milk used (pasteurized or unpasteurized), similar levels of biodiversity were observed in the three dairies, all of which had efficient cleaning procedures and good manufacturing practices. It appears that some of the Gramnegative bacteria identified should now be regarded as potentially useful in some cheese technologies. The assessment of their positive versus negative role should be objectively examined.