Mortgage refinancing and the concentration of mortgage coupons

Because of the concentrated distribution of interest rates on outstanding mortgages, modest interest rate declines in 1997 and 1998 made refinancing a smart choice for a record number of homeowners. In addition, the strong economy and the age of mortgage loans likely contributed to the surge in refinancing activity.Mortgages ; Housing - Finance ; Interest rates

Time and Space Bounds for Reversible Simulation

We prove a general upper bound on the tradeoff between time and space that suffices for the reversible simulation of irreversible computation. Previously, only simulations using exponential time or quadratic space were known. The tradeoff shows for the first time that we can simultaneously achieve subexponential time and subquadratic space. The boundary values are the exponential time with hardly any extra space required by the Lange-McKenzie-Tapp method and the ($\log 3$)th power time with square space required by the Bennett method. We also give the first general lower bound on the extra storage space required by general reversible simulation. This lower bound is optimal in that it is achieved by some reversible simulations.Comment: 11 pages LaTeX, Proc ICALP 2001, Lecture Notes in Computer Science, Vol xxx Springer-Verlag, Berlin, 200

Local permutations of products of Bell states and entanglement distillation

We present new algorithms for mixed-state multi-copy entanglement distillation for pairs of qubits. Our algorithms perform significantly better than the best known algorithms. Better algorithms can be derived that are tuned for specific initial states. The new algorithms are based on a characterization of the group of all locally realizable permutations of the 4^n possible tensor products of n Bell states.Comment: 6 pages, 1 figur

Cationic Lipid Is Not Required for Uptake and Selective Inhibitory Activity of ICAM-1 Phosphorothioate Antisense Oligonucleotides in Keratinocytes

Keratinocyte intercellular adhesion molecule-1 (ICAM-1) is important in mediating retention of T cells within the epidermal compartment. To determine if antisense oligonucleotides designed to hybridize to various ICAM-1 mRNA regions could selectively influence cultured keratinocyte ICAM-1 expression following gamma interferon (IFN-γ), cells were exposed to several antisense compounds, in the absence and presence of cationic lipid (lipofectin). Keratinocytes rapidly internalized sense and antisense compounds (within 30-60 min), even in the absence of lipofectin with approximately 30% of the cell possessing positive nuclei. Such nuclear accumulation was not observed in the absence of lipofectin in cultured fibroblasts, smooth muscle cells, or endothelial cells, even though total cellular uptake within the cytoplasm was significantly increased in all these cell types. Using flow cytometry, IFN-γ-inducible ICAM-1 expression was reduced 50% by antisense compounds with lipofectin, and by 30% without lipofectin. This inhibition was specific as no change was observed for HLA-DR or tumor necrosis factor-α receptor expression. Northern blot hybridization studies confirmed that ICAM-1 antisense oligonucleotides selectively and significantly inhibited ICAM-1 expression. These results suggest that such antisense compounds interact with keratinocytes differently than other cell types, and provide the in vitro basis for clinical trials in which reduction (or elimination) of ICAM-1 expression by epidermal keratinocytes could be selectively accomplished without necessarily influencing dermal cell types such as fibroblasts, endothelial cells, or smooth muscle cells

Tides and Overtides in Long Island Sound

Using observations obtained by acoustic Doppler profilers and coastal water level recorders, we describe the vertical and horizontal structure of the currents and sea level due to the principal tidal constituents in Long Island Sound, a shallow estuary in southern New England. As expected, the observations reveal that M2 is the dominant constituent in both sea surface and velocity at all depths and sites. We also find evidence that the vertical structure of the M2 tidal current ellipse parameters vary with the seasonal evolution of vertical stratification at some sites. By comparing our estimates of the vertical structure of the M2 amplitudes to model predictions, we demonstrate that both uniform and vertically variable, time invariant eddy viscosities are not consistent with our measurements in the Sound. The current records from the western Sound contain significant overtides at the M4 and M6 frequencies with amplitudes and phases that are independent of depth. Though the M4 amplitude decreases to the west in proportion to M2, the M6 amplifies. Since the dynamics that generate overtides also produce tidal residuals, this provides a sensitive diagnostic of the performances of numerical circulation models. We demonstrate that the observed along-Sound structure of the amplitude of the M4 and M6 overtides is only qualitatively consistent with the predictions of a nonlinear, laterally averaged layer model forced by a mean flow and sea level at the boundaries. Since neither the vertical structure of the principal tidal constituent nor the pattern of horizontal variation of the largest overtides can be explained using well established models, we conclude that they are fundamentally inadequate and should no longer be used for more than a basic qualitative understanding, and even then should be used with caution. We provide comprehensive tables of the tidal current parameters to facilitate the critical evaluation of future models of the circulation in the Sound

Local filtering operations on two qubits

We consider one single copy of a mixed state of two qubits and investigate how its entanglement changes under local quantum operations and classical communications (LQCC) of the type $\rho'\sim (A\otimes B)\rho(A\otimes B)^{\dagger}$. We consider a real matrix parameterization of the set of density matrices and show that these LQCC operations correspond to left and right multiplication by a Lorentz matrix, followed by normalization. A constructive way of bringing this matrix into a normal form is derived. This allows us to calculate explicitly the optimal local filterin operations for concentrating entanglement. Furthermore we give a complete characterization of the mixed states that can be purified arbitrary close to a Bell state. Finally we obtain a new way of calculating the entanglement of formation.Comment: 4 page

Premature polyadenylation-mediated loss of stathmin-2 is a hallmark of TDP-43-dependent neurodegeneration.

Amyotrophic lateral sclerosis (ALS) and frontotemporal dementia (FTD) are associated with loss of nuclear transactive response DNA-binding protein 43 (TDP-43). Here we identify that TDP-43 regulates expression of the neuronal growth-associated factor stathmin-2. Lowered TDP-43 levels, which reduce its binding to sites within the first intron of stathmin-2 pre-messenger RNA, uncover a cryptic polyadenylation site whose utilization produces a truncated, non-functional mRNA. Reduced stathmin-2 expression is found in neurons trans-differentiated from patient fibroblasts expressing an ALS-causing TDP-43 mutation, in motor cortex and spinal motor neurons from patients with sporadic ALS and familial ALS with GGGGCC repeat expansion in the C9orf72 gene, and in induced pluripotent stem cell (iPSC)-derived motor neurons depleted of TDP-43. Remarkably, while reduction in TDP-43 is shown to inhibit axonal regeneration of iPSC-derived motor neurons, rescue of stathmin-2 expression restores axonal regenerative capacity. Thus, premature polyadenylation-mediated reduction in stathmin-2 is a hallmark of ALS-FTD that functionally links reduced nuclear TDP-43 function to enhanced neuronal vulnerability

Diffusion and jump-length distribution in liquid and amorphous Cu33_{33}Zr67_{67}

Using molecular dynamics simulation, we calculate the distribution of atomic jum ps in Cu$_{33}$Zr$_{67}$ in the liquid and glassy states. In both states the distribution of jump lengths can be described by a temperature independent exponential of the length and an effective activation energy plus a contribution of elastic displacements at short distances. Upon cooling the contribution of shorter jumps dominates. No indication of an enhanced probability to jump over a nearest neighbor distance was found. We find a smooth transition from flow in the liquid to jumps in the g lass. The correlation factor of the diffusion constant decreases with decreasing temperature, causing a drop of diffusion below the Arrhenius value, despite an apparent Arrhenius law for the jump probability

Egulating gene expression through RNA nuclear retention

Multiple mechanisms have evolved to regulate the eukaryotic genome. We have identified CTN-RNA, a mouse tissue-specific w8 kb nuclear-retained poly(A) + RNA that regulates the level of its protein-coding partner. CTN-RNA is transcribed from the protein-coding mouse cationic amino acid transporter 2 (mCAT2) gene through alternative promoter and poly(A) site usage. CTN-RNA is diffusely distributed in nuclei and is also localized to paraspeckles. The 3�UTR of CTN-RNA contains elements for adenosine-to-inosine editing, involved in its nuclear retention. Interestingly, knockdown of CTN-RNA also downregulates mCAT2 mRNA. Under stress, CTN-RNA is posttranscriptionally cleaved to produce protein-coding mCAT2 mRNA. Our findings reveal a role of the cell nucleus in harboring RNA molecules that are not immediately needed to produce proteins but whose cytoplasmic presence is rapidly required upon physiologic stress. This mechanism of action highlights an important paradigm for the role of a nuclear-retained stable RNA transcript in regulating gene expression