ЛОГІКА ВПЛИВУ НЕМОНЕТАРНИХ ІНФОРМАЦІЙНИХ СИГНАЛІВ США НА НАДЛИШКОВУ ДОХІДНІСТЬ РИНКУ АКЦІЙ УКРАЇНИ

The research was conducted to assess the changes in the excess return of Ukrainian stock market (using the example of the representative stock index PFTS) on the informational content of such major non-monetary signals of the USA as “Consumer Price Index”, “Personal Spending”, “Unemployment Rate”, “Gross Domestic Product”, “Industrial Production”, “Consumer Confidence” and “Housing Starts” on the basis of daily data for 2000—2017 (number of observations — 4436). We used the toolkit of vector autoregressive modelling to determine the sources of Ukrainian stock index PFTS response to the US non-monetary information signals, which is based on the decomposition of changes in stock market excess return through the channels of economic transmission (“expected future dividends”, “real interest rate” and “risk premium”) and takes into account the unexpected values of the informational context of selected non-monetary signals. Target time series are stationary according to the KPSS and ADF criteria. The results show that four of the six selected non-monetary information signals of the USA do not have a significant effect on the response of endogenous variables of econometric model. The existence of significant direct influence of US non-monetary informational signals “Personal Spending” and “Consumer Confidence” on the response of the excess return of Ukrainian stock index PFTS has been established. It is substantiated that the actual and forecast state of the USA national economy is considered by the participants of the local stock markets, in particular in Ukraine, as one of the most important sources of macroeconomic information while making strategic and tactical investment decisions. Thus, the increasing importance of the component of “surprise” of such non-monetary information signals of the USA is considered as “positive” news for the domestic stock market by investors, which increases the excess return of the stock index PFTS.Проведено исследование по оценке изменений избыточной доходности украинского рынка акций (на примере репрезентативного фондового индекса PFTS) на информационное содержание немонетарных сигналов США на основе ежедневных данных за 2000—2017 гг. Использован инструментарий векторного авторегрессионного моделирования для определения источников реакции фондового индекса PFTS, основанный на декомпозиции изменений избыточной доходности рынка акций. Установлено наличие значительного прямого влияния немонетарных информационных сигналов США «Personal Spending» и «Consumer Confidence» на реакцию избыточной доходности фондового индекса PFTS. Таким образом, рост значения компоненты «неожиданность» по таким немонетарным информационным сигналам США рассматривается инвесторами как «позитивная» новость, которая увеличивает избыточную доходность фондового индекса PFTS.Проведено дослідження щодо оцінювання змін надлишкової доходності українського ринку акцій (на прикладі репрезентативного фондового індексу PFTS) на інформаційний зміст таких основних немонетарних сигналів США, як «Consumer Price Index», «Personal Spending», «Unemployment Rate», «Gross Domestic Product», «Industrial Production», «Consumer Confidence» та «Housing Starts» на основі щоденних даних за 2000—2017 рр. (кількість спостережень — 4 436). Використано інструментарій векторного авторегресійного моделювання для визначення джерел реакції українського фондового індексу PFTS на немонетарні інформаційні сигнали США, що ґрунтується на декомпозиції змін надлишкової дохідності ринку акцій через канали економічної трансмісії («очікувані майбутні дивіденди», «реальна відсоткова ставка» і «премія за ризик») та враховує неочікувані значення інформаційного контексту відібраних немонетарних сигналів. Цільові часові ряди є стаціонарними відповідно до критеріїв KPSS та ADF. Отримані результати свідчать, що чотири із шести відібраних немонетарних інформаційних сигналів США не мають суттєвого впливу на реакцію ендогенних змінних економетричної моделі. Установлено наявність значного прямого впливу немонетарних інформаційних сигналів США «Personal Spending» і «Consumer Confidence» на реакцію надлишкової дохідності українського фондового індексу PFTS. Обґрунтовано, що фактичний і прогнозний стани національної економіки США розглядається учасниками локальних ринків акцій, зокрема України, як одне з найважливіших джерел макроекономічної інформації при ухваленні стратегічних і тактичних інвестиційних рішень. Таким чином, зростання значення компоненти «несподіванки» за такими немонетарними інформаційними сигналами США розглядається інвесторами як «позитивна» новина для вітчизняного ринку акцій, яка збільшує надлишкову дохідність фондового індексу PFTS

Microbial lysate upregulates host oxytocin

Neuropeptide hormone oxytocin has roles in social bonding, energy metabolism, and wound healing contributing to good physical, mental and social health. It was previously shown that feeding of a human commensal microbe Lactobacillus reuteri (L. reuteri) is sufficient to up-regulate endogenous oxytocin levels and improve wound healing capacity in mice. Here we show that oral L. reuteri-induced skin wound repair benefits extend to human subjects. Further, dietary supplementation with a sterile lysate of this microbe alone is sufficient to boost systemic oxytocin levels and improve wound repair capacity. Oxytocin-producing cells were found to be increased in the caudal paraventricular nucleus [PVN] of the hypothalamus after feeding of a sterile lysed preparation of L. reuteri, coincident with lowered blood levels of stress hormone corticosterone and more rapid epidermal closure, in mouse models. We conclude that microbe viability is not essential for regulating host oxytocin levels. The results suggest that a peptide or metabolite produced by bacteria may modulate host oxytocin secretion for potential public or personalized health goals.Published versio

Immunological factor development of external genital endometriosis

External genital endometriosis (EGE) is one of the common gynecological diseases of women of reproductive age with a relapsing, progressive course that worsens the quality of life of patients due to pain, emotional imbalance, fear of relapse and possible surgical intervention. Currently, endometriosis is recognized as one of the most common diseases associated with infertility. Thus, among fertile women with preserved childbearing function, the disease is generally diagnosed in approximately 6-7%, while among patients suffering from infertility, its frequency can reach 20-48%.However, the causes that determine reproductive dysfunction in patients with EGE are not well understood. Much attention is currently paid to the role of immunity in the formation of endometriosis. Patients with EGE show changes in both local immunity factors and immunological components of circulating blood.Purpose of the study: the study of factors of innate and adaptive immunity in patients of reproductive age with external genital endometriosis (EGE).The study included 71 patients with various stages of external genital endometriosis, the control group included 24 patients without endometriosis. Determination of the population composition of peripheral blood lymphocytes, the level of monocytes expressing TLR, activation markers, was carried out by laser flow cytometry — Immunotex (France), Caltag (USA), FITC (fluorescein isothiocynate) — labeled CD3, CD4, CD8, CD16, CD19, HLA-DR, CD282, CD284 and PE (phycoerythrin) - labeled with CD25, CD69, CD95, CD107a, CD14.External genital endometriosis is characterized by: at stages I-II of the disease - a violation of the early stages of the innate immune response (an increase in the number of monocytes expressing TLR-4, a violation of the activation and differentiation processes of immunocompetent cells, which is reflected in a decrease in the expression of CD16, CD8, CD16+HLA-DR+, CD16+CD107a+, CD8+CD107a+, at III-IV stages of the disease, there is a decrease in the level of CD16 and activation markers CD69, HLA-DR, CD107a on their surface, which is combined with a decrease in the expression of CD8, CD16, HLADR and CD107a on their surface. CD95+ and CD8+CD95+ were found at various stages of EGE.The results obtained allow us to understand the features of the functioning of innate and adaptive immunity at various stages of external genital endometriosis, and the studied immunological parameters can be used as diagnostic criteria for the formation of various stages of EGE. These data can serve as a theoretical basis for further identification of markers of EGE progression, as well as the mechanisms underlying immune inflammation

ASSESSMENT OF THE STATUS OF THE IMMUNE RESPONSE IN PREGNANT WOMEN WITH PLACENTAL INSUFFICIENCY TAKING INTO ACCOUNT THE SEVERITY OF CEREBRAL PATHOLOGY IN THEIR NEWBORN

Purpose. The study of immunological mechanisms of hypoxic-ischemic brain damage of varying severity in infants born to mothers with placental insufficiency.Materials and methods. A clinical and laboratory examination of 58 pregnant women with placental insufficiency in the period 38-39 weeks of pregnancy. The subjects were divided into subgroups: 1a - perinatal CNS lesions with an average degree of severity, clinically detectable at birth (n = 31), 1b - perinatal CNS damage with mild severity, clinically detectable at 1 month after birth (n = 27). The control group consisted of patients with physiological pregnancy and childbirth (n = 19).Results. It was revealed that the criterion of hypoxic-ischemic central nervous system in newborns is to increase the mother’s blood level of CD16 + NK-cell activation markers of T-cell CD69 +, CD25 +, apoptosis markers CD95 +, AnnexinV +, AnnexinV + PI +, shift the cytokine balance in favor of pro-inflammatory cytokines ( TNF-α, IL -6, IFN-γ), both in serum and amniotic fluid.Conclusions. The development of hypoxic-ischemic brain damage in newborn infants of mothers with placental insufficiency occurs against violations of the mechanisms of immune response

Numerical results for the exact spectrum of planar AdS4/CFT3

We compute the anomalous dimension for a short single-trace operator in planar ABJM theory at intermediate coupling. This is done by solving numerically the set of Thermodynamic Bethe Ansatz equations which are expected to describe the exact spectrum of the theory. We implement a truncation method which significantly reduces the number of integral equations to be solved and improves numerical efficiency. Results are obtained for a range of 't Hooft coupling lambda corresponding to $0 \leq h(\lambda) \leq 1$, where h(lambda) is the interpolating function of the AdS4/CFT3 Bethe equations.Comment: v3: corrected Acknowledgements section; v4: minor changes, published version; v5: fixed typos in Eq. (3.9

Konishi operator at intermediate coupling

TBA equations for two-particle states from the sl(2) sector proposed by Arutyunov, Suzuki and the author are solved numerically for the Konishi operator descendent up to 't Hooft's coupling lambda ~ 2046. The data obtained is used to analyze the properties of Y-functions and address the issue of the existence of the critical values of the coupling. In addition we find a new integral representation for the BES dressing phase which substantially reduces the computational time.Comment: lots of figures, v2: improved numerics, c1=2, c2=0, c4 does not vanis

Quantum Spectral Curve at Work: From Small Spin to Strong Coupling in N=4 SYM

We apply the recently proposed quantum spectral curve technique to the study of twist operators in planar N=4 SYM theory. We focus on the small spin expansion of anomalous dimensions in the sl(2) sector and compute its first two orders exactly for any value of the 't Hooft coupling. At leading order in the spin S we reproduced Basso's slope function. The next term of order S^2 structurally resembles the Beisert-Eden-Staudacher dressing phase and takes into account wrapping contributions. This expansion contains rich information about the spectrum of local operators at strong coupling. In particular, we found a new coefficient in the strong coupling expansion of the Konishi operator dimension and confirmed several previously known terms. We also obtained several new orders of the strong coupling expansion of the BFKL pomeron intercept. As a by-product we formulated a prescription for the correct analytical continuation in S which opens a way for deriving the BFKL regime of twist two anomalous dimensions from AdS/CFT integrability.Comment: 53 pages, references added; v3: due to a typo in the coefficients C_2 and D_2 on page 29 we corrected the rational part of the strong coupling predictions in equations (1.5-6), (6.22-24), (6.27-30) and in Table

Y-system for Scattering Amplitudes

We compute N=4 Super Yang Mills planar amplitudes at strong coupling by considering minimal surfaces in AdS_5 space. The surfaces end on a null polygonal contour at the boundary of AdS. We show how to compute the area of the surfaces as a function of the conformal cross ratios characterizing the polygon at the boundary. We reduce the problem to a simple set of functional equations for the cross ratios as functions of the spectral parameter. These equations have the form of Thermodynamic Bethe Ansatz equations. The area is the free energy of the TBA system. We consider any number of gluons and in any kinematic configuration.Comment: 69 pages, 19 figures, v2: references added, minor addition

Features of the cytokine profile in adolescents with microvascular complications of type 1 diabetes mellitus

Despite advances of modern medical science, the consequences associated with management of complications in type 1 diabetes mellitus (DM1) in children and adolescents represent a serious problem. Common development of microvascular diabetic complications (retinopathy, neuropathy, kidney damage) still remains a sufficient obstacle for achieving high quality of life and social adaptation in the young patients, thus promoting studies of immune mechanisms involved in genesis of microvasculature damage under the conditions of dysmetabolic abnormalities associated with DM1. Our goal was to assess the role of altered cytokine balance in blood serum in development of microangiopathies in adolescents with DM1.140 adolescent patients with type 1 diabetes aged 14-18 years were examined being divided in 2 groups: group I included the patients with glycated hemoglobin (HbA1c) level of > 9.0% (n = 65), and group II which included adolescents with HbA1C level of ≤ 9.0% (n = 75). Each group was divided into subgroups: Ia (n = 50) and IIa (n = 38) included adolescents with diabetic retinopathy, nephropathy or neuropathy, whereas groups Ib (n = 15) and IIb (n = 37) were without microvascular complications. The control group consisted of 36 adolescents with normal body weight, without carbohydrate metabolic disorders, and family history of diabetes mellitus. Determination of TNFα, IL-1β, VCAM-1, fractalkine levels in blood serum was performed by enzyme immunoassay using test systems “RayBiotech” (USA), “BIOSCIENCE” (USA).Development of microangiopathies in adolescents with different glycemic control is associated with increased serum concentration of the factors involved in neoangiogenesis and vascular wall remodeling, i.e., TNFα, IL-1β, VCAM-1, compared with control group (p < 0.05), and a statistically significant decrease in fractalkine level in adolescent patients with either complicated, or uncomplicated DM1. The study allowed us to suggest that occurrence of microvascular complications in adolescents with DM1 is associated with impaired immune response tending for altered cytokine balance towards Th1 type, enhanced intercellular interactions, imbalance of bioregulatory molecules, contributing to development of inflammatory immunoregulatory state. The revealed patterns of laboratory markers, along with assessment of metabolic indices, will enable personalized approaches to early diagnostics of microvascular complications in adolescents with DM1 and prevent their further progression

Generalized cusp in AdS_4 x CP^3 and more one-loop results from semiclassical strings

We evaluate the exact one-loop partition function for fundamental strings whose world-surface ends on a cusp at the boundary of AdS_4 and has a "jump" in CP^3. This allows us to extract the stringy prediction for the ABJM generalized cusp anomalous dimension Gamma_{cusp}^{ABJM} (phi,theta) up to NLO in sigma-model perturbation theory. With a similar analysis, we present the exact partition functions for folded closed string solutions moving in the AdS_3 parts of AdS_4 x CP^3 and AdS_3 x S^3 x S^3 x S^1 backgrounds. Results are obtained applying to the string solutions relevant for the AdS_4/CFT_3 and AdS_3/CFT_2 correspondence the tools previously developed for their AdS_5 x S^5 counterparts.Comment: 48 pages, 2 figures, version 3, corrected misprints in formulas 2.12, B.86, C.33, added comment on verification of the light-like limi