Spread Changes Research Articles

The transition between coastal and offshore areas in the North Sea unraveled by suspended particle composition

Identifying the mechanisms that contribute to the variability of suspended particulate matter concentrations in coastal areas is important but difficult, especially due to the complexity of physical and biogeochemical interactions involved. Our study addresses this complexity and investigates changes in the horizontal spread and composition of particles, focusing on cross-coastal gradients in the southern North Sea and the English Channel. A semi-empirical model is applied on in situ data of SPM and its organic fraction to resolve the relationship between organic and inorganic suspended particles. The derived equations are applied onto remote sensing products of SPM concentration, which provide monthly synoptic maps of particulate organic matter concentrations (here, particulate organic nitrogen) at the surface together with their labile and less reactive fractions. Comparing these fractions of particulate organic matter reveals their characteristic features along the coastal-offshore gradient, with an area of increased settling rate for particles generally observed between 5 and 30 km from the coast. We identify this area as the transition zone between coastal and offshore waters with respect to particle dynamics. Presumably, in that area, the turbulence range and particle composition favor particle settling, while hydrodynamic processes tend to transport particles of the seabed back towards the coast. Bathymetry plays an important role in controlling the range of turbulent dissipation energy values in the water column, and we observe that the transition zone in the southern North Sea is generally confined to water depths below 20 m. Seasonal variations in suspended particle dynamics are linked to biological processes enhancing particle flocculation, which do not affect the location of the transition zone. We identify the criteria that allow a transition zone and discuss the cases where it is not observed in the domain. The impact of these particle dynamics on coastal carbon storage and export is discussed.

Examining the impact of central clearing and swap execution facilities on interest rate swap spreads and their determinants

This study explores how the determinants of interest rate swap spreads have changed since the implementation of Title VII of the Dodd-Frank Act of 2010. Utilizing ordinary least squares (OLS) regression, we analyze key variable effects at different stages of the regulation. Through this approach, we offer valuable insights into the impact of central clearing and trading on swap execution facilities (SEFs) and swap spreads. First, contrary to previous empirical evidence, increases in swap volatility correspond to a tightening, rather than a widening, of swap spreads after the implementation of SEF trading. This result suggests the SEF framework may enhance the appeal of swaps as a safe-haven and hedging instrument. Second, we observe that the Treasury liquidity premium (TLP) no longer significantly influences swap spreads after the implementation of SEF trading. Third, after SEF trading occurs, the curve slope and swap volatility remain the only significant drivers of swap spreads. Last, a difference-in-difference analysis reveals that the regulation did not materially impact changes in swap spreads; instead, they align with the observed trend of spread tightening in the overall markets. These results signify significant departures from previous research findings (Grinblatt, 2001; Fehle, 2003; Tah, 2022), holding importance for academic scholars and practitioners in swap pricing and risk management.

Exploring the gut microbiome and immunological landscape in kidney cancer: a Mendelian randomization analysis.

Kidney cancer (KC) is a significant health burden globally, with over 400,000 new cases estimated in 2020. The prognosis of KC is influenced by various factors, including tumor spread, pathological characteristics, and molecular genetic changes. Recent studies have emphasized the involvement of gut microbiota and the immune system's contribution in the onset of KC. This extensive research endeavor sought to investigate the potential associations between diverse immune cell phenotypes, specific gut microbiota species, and their impact on the risk of developing KC, alongside the examination of circulating inflammatory proteins. Adhering to the STROBE-MR guidelines, our investigation involved a two-stage Mendelian randomization (2SMR) analysis grounded on three fundamental assumptions: relevance, independence, and exclusion restriction. The exposure data utilized in this study originated from genome-wide association studies (GWAS) specifically designed to explore immune traits, inflammatory proteins, and gut microbiota compositions. Our analysis identified 25 immune phenotypes, 4 circulating inflammatory proteins, and 12 gut microbiota features that exhibited significant causal associations with KC (P < 0.05). 10 immune phenotypes were protective against KC, while 15 were risk factors. Among the inflammatory proteins, CCL28 and IL-2 were protective, whereas FGF-23 and β-NGF were risk factors. Gut microbiota features associated with reduced KC risk included biosynthetic pathways involving amino acids and specific bacterial genera, whereas others, like Butyrivibrio crossotus and Odoribacter splanchnicus, were risk factors. Immune, inflammatory, and gut microbiota factors impact KC development. Identified factors hint at biomarkers and therapeutic targets. It is very important to understand the relationship between these factors and KC.

Decrypting the thermal effects on the electric field-induced material formation process on Cr thin films

Controlled electrochemical reactions on chromium (Cr) thin films have been employed to create micro- and nano-scale patterns using a scanning probe-based patterning process called electrolithography (ELG). The electrochemical reaction produces a liquid material. The ELG process, being a local anodic oxidation-based technique, is significantly affected by several factors, including various ambient conditions. In this article, we explore the effects of temperature on the said electrochemical reaction-induced liquid material formation process. Keeping other ambient conditions constant, the temperature is varied over a large range, and we observe that a 40 °C change in temperature results in a 20-time change in the radial spread of the liquid region. This observation is thereafter explained by the effect of temperature on three different parameters affecting the rate of electrochemical reaction. Thus, based on this study, we can say that temperature is one of the most crucial parameters which can be used to confine the lateral spread of the formed liquid region and thereby improve the resolution of the patterns created using the ELG technique.

Modeling impact of vaccination on COVID-19 dynamics in St. Louis

ABSTRACT The region of St. Louis, Missouri, has displayed a high level of heterogeneity in COVID-19 cases, hospitalization, and vaccination coverage. We investigate how human mobility, vaccination, and time-varying transmission rates influenced SARS-CoV-2 transmission in five counties in the St. Louis area. A COVID-19 model with a system of ordinary differential equations was developed to illustrate the dynamics with a fully vaccinated class. Using the weekly number of vaccinations, cases, and hospitalization data from five counties in the greater St. Louis area in 2021, parameter estimation for the model was completed. The transmission coefficients for each county changed four times in that year to fit the model and the changing behaviour. We predicted the changes in disease spread under scenarios with increased vaccination coverage. SafeGraph local movement data were used to connect the forces of infection across various counties.

The Impact of Fluctuations in the Pounds Value on Commercial Banks Activities Based on Mini-budget and Banks Interest Rate Hikes

Since August 2022, the British pound exchange rate has continued to decline due to multiple factors such as the global epidemic and the Russia-Ukraine war. Against the background of the cost of living crisis with high inflation, especially the sharp rise in energy costs, the British government issued a new tax cut, namely the mini-budget, but the implementation effect is very poor; Subsequently, the Bank of England adopted successive interest rate hikes in an attempt to stabilize the value of the pound and temper the general situation of inflation. This paper critically evaluates the impact of the fluctuation of the value of sterling on the activities of commercial banks in the financial market and analyzes the reasons, advantages, and disadvantages. Commercial banks can benefit from sterling volatility in several ways, such as generating higher trading revenues, enhancing asset liquidity, attracting more capital inflows and trading opportunities, and increasing equity market capitalization. On the other hand, a similar sterling appreciation could have multiple negative effects on commercial banking operations, including risk management, net profits, policy interest rates, and international competition. For the development prospects of commercial banks, it is recommended that in the context of the overall global economic downturn, timely adjust their operations and strategies to adapt to these changes, to withstand the business risks related to exchange rate fluctuations, such as changes in interest rates, interest spreads, and capital costs.

Macroeconomic news and sovereign interest rate spreads before and during quantitative easing

ABSTRACT This paper studies how macroeconomic news affected the spreads of Italian sovereign bonds before and during the quantitative easing by the European Central Bank. Daily changes in the bond spreads are regressed on macroeconomic news shocks, where the news shocks are computed as the difference between the published data and the preceding private-sector forecasts. The analysis shows that macroeconomic news shocks had economically and statistically significant effects on Italian bond spreads in 2012–2014 before quantitative easing, while the effects were negligible afterwards although with a partial exception of a period in 2019 when the net asset purchases were paused.

Ongoing harlequin toad declines suggest the amphibian extinction crisis is still an emergency

Biodiversity loss is extreme in amphibians. Despite ongoing conservation action, it is difficult to determine where we stand in overcoming their extinction crisis. Among the most threatened amphibians are the 131 Neotropical harlequin toads. Many of them declined since the 1980s with several considered possibly extinct. Recently, more than 30 species have been rediscovered, raising hope for a reversing trend in the amphibian extinction crisis. We use past and present data available for harlequin toads (Atelopus), to examine whether the amphibian extinction crisis is still in an emergency state. Since 2004 no species has improved its population status, suggesting that recovery efforts have not been successful. Threats include habitat change, pathogen spread and climate change. More mitigation strategies need implementation, especially habitat protection and disease management, combined with captive conservation breeding. With harlequin toads serving as a model, it is clear that the amphibian extinction crisis is still underway.

Review on Diagnostic Methods of Infectious Coryza in Chickens

The total poultry population in Ethiopia is estimated to be 51.35 million. The Poultry sector is a fastest growing among the animal production activities offers an opportunity to feed the fastest growing human population and provide income resources for poor farmers. There are different diseases which can affect chicken. Among the bacterial diseases, Infectious Coryza (IC) is an acute and contagious respiratory disease of chickens caused by the bacteria, Avibacterium paragallinarum. IC is distributed worldwide and typically transmitted by direct contact, airborne droplets and contamination of drinking water. But Egg transmission does not occur. The initial step in the pathogenesis of infectious coryza is adherence to and colonization of the nasal mucosa. The diagnosis can be based on a history of rapid disease spread, clinical symptoms, and pathological changes caused by IC. Diagnostic methods for IC include direct isolation, the HI test for serovar A and Polymerase Chain Reaction (PCR). Diagnosis of Avibacterium paragallinarum have been proposed as alternatives to conventional serotyping by the Page scheme. The HI test, which is one of the most widely used serological test, is often utilized to detect changes in antibody titers in cases of field infection or vaccination, and is useful for evaluating the prevalence of IC in certain areas. Rapid and accurate detection of respiratory IC has become a challenge because of the involvement of more than one agent with similar clinical signs and lesions, which complicates diagnostic decisions, as well as treatment and control strategies.

Dynamic Micropatterning Reveals Substrate-Dependent Differences in the Geometric Control of Cell Polarization and Migration.

Cells are highly dynamic and adopt variable shapes and sizes. These variations are biologically important but challenging to investigate in a spatiotemporally controlled manner. Micropatterning, confining cells on microfabricated substrates with defined geometries and molecular compositions, is a powerful tool for controlling cell shape and interactions. However, conventional binary micropatterns are static and fail to address dynamic changes in cell polarity, spreading, and migration. Here, a method for dynamic micropatterning is reported, where the non-adhesive surface surrounding adhesive micropatterns is rapidly converted to support specific cell-matrix interactions while allowing simultaneous imaging of the cells. The technique is based on ultraviolet photopatterning of biotinylated polyethylene glycol-grafted poly-L-lysine, and it is simple, inexpensive, and compatible with a wide range of streptavidin-conjugated ligands. Experiments using biotinylation-based dynamic micropatterns reveal that distinct extracellular matrix ligands and bivalent integrin-clustering antibodies support different degrees of front-rear polarity in human glioblastoma cells, which correlates to altered directionality and persistence upon release and migration on fibronectin. Unexpectedly, however, neither an asymmetric cell shape nor centrosome orientation can fully predict the future direction of migration. Taken together, biotinylation-based dynamic micropatterns allow easily accessible and highly customizable control over cell morphology and motility.

Upper limb neurodynamic mobilization disperses intraneural fluid in cervical nerve roots: A human cadaveric investigation

BackgroundCervical radiculopathy is a common cause of neck pain with resultant intraneural edema and impaired nerve function. One strategy to treat radiculopathy is neurodynamic mobilization (NDM); however, little is known about the effect of this treatment on nerve tissue fluid dynamics. ObjectiveInvestigate the impact of upper limb, median nerve-biased NDM on longitudinal intraneural fluid dispersion in the C5,C6,C7 nerve roots in un-embalmed cadavers. DesignIn situ repeated measures. MethodsHuman cadavers (n = 8) were dissected to expose and inject C5,C6,C7 cervical nerve roots with a dying agent. Initial longitudinal dye spread was recorded after dye spread stabilization. Cadavers were taken through 150 repetitions of upper limb, median nerve-biased NDM followed by dye spread re-measurement. Paired-samples t-tests with Bonferroni correction (α = 0.017) were used to compare pre-vs post-NDM dye spread measurements at C5,C6,C7 nerve roots; a one-way repeated measures ANOVA (α = 0.05) was used to examine differences between change scores for C5,C6,C7 nerve roots. ResultsMedian nerve-biased NDM resulted in significant intraneural longitudinal dye spread at C5 and C6 nerve roots of 0.6 ± 0.6 mm and 3.4 ± 3.9 mm, respectively (p < 0.014). Dye spread was not significant at C7 nerve root (0.4 ± 0.7 mm). There was no between root difference in change of longitudinal dye spread between C5, C6, and C7 nerve roots. ConclusionsThe results of this study show median nerve-biased NDM produced internal fluid movement within C5 and C6 cervical nerve roots. Results provide insight regarding possible mechanism of action and feasibility of NDM in treatment of patients with cervical radiculopathy.

Monitoring water spread and aquatic vegetation using earth observational data for Nani-High Altitude Lake (N-HAL) of Uttarakhand State, India

The lakes are facing anthropogenic pressure and losing its natural characteristics. Hence, the evaluation of lake water quality is a thrust area of research. The Nani-High Altitude Lake (N-HAL) was aimed to study during pre- and post-monsoon (March and October) period (2017–2022) using earth observation data based on false color composite (FCC) and spectral indices. The Sentinel-2 A/B data of 10 m spatial resolution was considered for monitoring and mapping of high-altitude lake. The FCC images were used to map and monitor changes in water spread and aquatic vegetation. Further, three spectral indices, namely, Normalized Difference Vegetation Index (NDVI), Normalized Difference Water Index (NDWI), and Normalized Difference Turbidity Index (NDTI), were applied to delineate water bodies and aquatic macrophytic vegetation (recorded are the Potamogeton pectinatus, Potamogeton crispus, Polygonum glabrum, Polygonum amphibium and Polygonum hydropiper (Water pepper). Results reveal that the water surface extent has changed from 2017 to 2022, depending on the pre- and post-monsoon rainfall pattern during the study period. During a flood year on 18-20, October 2021, in the area resulting into a drastic reduction in the aquatic vegetation and suspended particles. This lake needs immediate conservation and management policies.

Uncertain tone, asset volatility and credit default swap spreads

We examine the relationship between uncertain linguistic tone and credit default swap (CDS) spreads. Using an event study approach, we first show that uncertain linguistic tone in 10-Q/K filings is positively associated with CDS spread changes incremental to positive and negative tone and incremental to the response implied by equity market reactions to the same information. We further demonstrate that the relationship of uncertain tone to CDS spreads manifests largely through its impact on asset volatility. We show that this effect is driven by firms with high leverage and is stronger among firms with shorter relative to longer maturities. Our findings contribute to growing research into credit market reactions to non-quantitative information by demonstrating a positive relationship between credit market responses and uncertainty disclosure language, and that this relationship is mediated by investors’ implied asset volatility estimates.

Determinants of credit default swap spread changes: The sell-side perspective

This study revisits the credit spread puzzle using credit default swap spread changes between 2002 and 2020. We find that credit-related structural variables account for only 13.8% of the variation in credit default swap spread changes. There exists a single dominant common component that explains 49.8% of the regression residuals. Sell-side risk-bearing constraints are closely related to the unknown common component and significantly improve the explanatory power of credit default swap spread changes, particularly the commonality between them.

Role of Spatial Impurity Spread on the Transition Dynamics of Doped GaAs Quantum Dot in Presence of Noise

The present study thoroughly explores the time‐average population transfer rate (TAPTR) of impurity‐doped GaAs quantum dot (QD) pursuing the change in the spatial impurity spread (SIS). The said excitation rate is studied under the influence of Gaussian white noise (GWN). The rise of the ground‐state electronic density takes place due to different types of time‐changing fluctuations, viz. simple sinusoidal field, time‐dependent confinement potential, and time‐dependent magnetic field. GWN couples with the QD by additive and multiplicative modes. In this work, the joint influence of SIS and GWN and its pathway of inclusion and the nature of the time‐dependent perturbations are examined on the attributes of the TAPTR. The TAPTR curves are composed of steadfast rise, steadfast diminish, maximization (relevant to generation of large nonlinear optical properties), minimization, and saturation (suggesting dynamic freezing). The findings elucidate the means of fine‐tuning the TAPTR among the doped GaAs QD eigenstates in presence of noise, when the SIS undergoes a gradual change.

Impact of El-Nino and La-Nina Episodes on Rainfall Variability and Crop Yield

El Nino and La Nina events have an impact on the Indian monsoon in terms of less rainfall than average and more rainfall in La Nina years. El-Nino events are more likely to see rainfall variability during the monsoon and depressions over the Bay of Bengal (July-August). ENSO is a disruption in ocean surface temperatures and atmospheric circulation over the Pacific Ocean leading to wide spread changes in rainfall/precipitation regimes around the world. El Nino years' effects on crop production in India as a result of lower rainfall during the south-west monsoon. In the kharif season (June to September), crops suffer from moisture and have lower yields in El-Nino years, but the opposite in La-Nina years. The El Nino is associate with the possibility of drought like situation at many occasions and La Nina is the opposite of El-Nino events.

Excess Return of US Mutual Funds

The paper examines the factors that contribute to the outperformance of mutual funds in relation to the market, with a particular emphasis on the macroeconomic indicators as the key variables of interest. The paper begins by providing a comprehensive literature review on various factors that can impact the performance of mutual funds. The discussion encompasses a wide range of topics, including skill presence, diseconomies of scale, and other challenges associated with generating excess returns for investors.In the second part of the paper, an empirical analysis is conducted using actively managed US mutual funds to establish a relationship between fund performance and macro-variables, specifically focusing on term and credit spreads. Furthermore, the study considers different returns on positive and negative changes in spreads. The sample consists of funds that primarily invest in various sectors within the United States, with the Standard and Poor's 500 (S&amp;P 500) serving as the benchmark. To assess the performance of funds with active strategies, panel data models are applied, with the excess return over the benchmark as the dependent variable. Different subperiods, including the financial crisis and the COVID-19 period, are examined. Notably, the impact of variables during the pandemic period differs significantly from other subperiods. The findings indicate that positive and negative changes in the spread between corporate bond yields have significant and positive effects across almost all periods, which has practical implications for potential investors. It suggests that active professional portfolio managers have been successful in uncertain periods. To control for external shocks and funds' cross-correlation, double-clustered standard errors are employed, and a series of robustness checks confirm the stability of the results.

Viscoelasticity microenvironment constructed by self-crosslinking hyaluronan hybrid hydrogels regulates chondrogenic differentiation of mesenchymal stem cells

Chondrogenic differentiation of stem cells can be regulated by mechanical properties of biomaterials. Here, hybrid hydrogels, composed of sulfhydrylated hyaluronan (HA-SH) with different molecular weight and collagen I (Col Ⅰ), were designed to investigate chondrogenic differentiation of rabbit bone marrow mesenchymal stem cells (rBMSCs). The enhanced molecular weight of HA-SH decreased the mechanical properties of hybrid hydrogels, but improved viscosity and degradation resistance, which could modulate cell spreading and morphological changes, thereby influencing chondrogenic differentiation. Furthermore, 1 MDa HA-SH combined with Col Ⅰ (1M-HAC) with adequate viscoelasticity was beneficial to the circularity and nuclear chromatin condensation of rBMSCs, which induced significant chondrocyte aggregation, increased glycosaminoglycans and collagen Ⅱ stainings, and reduced collagen Ⅹ staining. This was conducive to preserve a hyaline cartilage's phenotype and reducing inflammation and degeneration. Subcutaneous implantation studies revealed that 1M-HAC also facilitated specific matrix secretion, chondrogenic gene expression and potentially anti-inflammatory and anti-degenerative effects.

Evolution of global snow drought characteristics from 1850 to 2100

Seasonal snow is an integral part of the global water supply and storage system. Snow droughts impact ecological, agricultural, and urban systems by altering the amount and timing of meltwater delivery. These droughts are characterized by a lack of on-the-ground snow (snow water equivalent, SWE) that can be caused by low total precipitation (dry drought) or low proportion of precipitation falling as snowfall (warm drought), often combined with an early melt. The standardized SWE index (SWEI) ranks the current status of SWE for a given location compared to a baseline condition and identifies the existence, but not the cause, of snow drought. In this work, we use estimates of SWE, temperature, and precipitation from nine coupled model intercomparison project phase 6 (CMIP6) models to quantify the frequency, severity, and type of snow droughts globally for historical and future scenarios. Compared to a historical baseline (1850–1900) total snow drought frequency more than doubles under socio-economic pathway (SSP)2-4.5 and SSP5-8.5; all of the increase in snow drought frequency comes from an increase in warm droughts. The probability distribution of future SWEI in major snowy basins around the world are likely to be centered on more negative values, which corresponds to more severe drought and, with only moderate changes in distribution spread, more frequent drought. CMIP6 simulations pinpoint snow drought as an emerging global threat to water resources and highlight the need to explore higher resolution future models that better capture complex mountain topography, wildland fires, and snow-forest interactions.

Bail-in and bank funding costs

We evaluate the impact of the bail-in, the new resolution policy adopted in 2016 within the Bank Recovery and Resolution Directive, on the cost of funding for EU banks. We first estimate the change in spreads of credit default swaps on subordinated and senior bonds issued by EU banks through an event study around the period when the policy became effective. We find that risk premia of junior bail-in-able bonds raised more compared to senior bonds. The results, however, point to a great heterogeneity in the impact of the policy, both for individual banks and across countries, while a simple theoretical model suggests possible sources of this heterogeneity. We therefore regressed the abnormal values derived from the event study on bank characteristics and macroeconomic factors. We uncovered several factors explaining the larger cost of funds for some of the EU banks after the implementation of bail-in: banks with more problematic loans, less capitalized, and headquartered in countries with a higher risk premium on sovereign debt have experienced a larger rise in their funding costs when issuing subordinated bonds. Overall, our paper provides evidence that the adoption of bail-in has prompted a more accurate evaluation of bank risk by junior creditors, leading to an increase in the cost of funds for banks.