Heterogeneous Yield Curves and Basis Swaps

We present a framework of heterogeneous yield curves of agents based on the pricing kernel approach in order to model LIBOR and basis swap rates. Each yield curve may imply different prices of assets but is consistent with swap rates, basis swap rates and foreign exchange rates. We show three conditions that gurantee the no-arbitrage and the consistency with these rate processes. The introduction of contributors and the Market Representative Agent (gMRAh) leads to an explanation of a non-zero basis swap rate as a swap rate priced by one of the MRAs.Interest rate swap, Basis swap, Pricing kernel, Risk premium, LIBOR

Experimental Study on the Correlation between the Tubar Stenosis and the Professional Deafness

It has long been a clinically and experimentally well recognized fact that the hearing organs of man and animal would be impaired by the excessive sound stimuli. It has also been pointed out that the hearing organ of each man is not always impaired in the same degree by the same noise, and their impairments show the individual variation in a considerable range. It is indeed not too difficult to imagine, that, under the same acoustic condition, such individual variation of the acoustic impairment owes to the inherent disposition of each man. But at the same time, this individual variation may more or less owe to the patency of the ear tube; the normal tube having a physiological function to control the unnecessary acoustic stimuli, and on the contrary, the stenosed tube being devoid of this function, induces more impairment of the hearing organ. This latter suggestion, which occured to the author, led him to attempt the following experiment.</p

Discovery of a Strongly Lensed Galaxy at z=3.9 behind a z=0.83 Galaxy Cluster

We report the discovery and spectroscopic confirmation of three gravitationally-lensed images of a galaxy at z=3.9 in the background of a distant, rich cluster of galaxies at z=0.83, on the basis of observations with Faint Object Camera And Spectrograph (FOCAS) on the Subaru telescope. We construct a simple lens model of the cluster mass distribution based on Jee et al.'s weak lensing mass estimates from deep, high-resolution images by Advanced Camera for Surveys (ACS) on the Hubble Space Telescope. The lens model can account simultaneously for the observed image configuration and the flux ratio of the closer pair located close to the critical curve. The parities of the three images are also consistent with the lensing hypothesis. Since this galaxy is apparently bright (i'_{AB} \sim 23.7) for its redshift due to the magnification, it serves as a good high redshift target on which we can make extensive and detailed studies based on multi-wavelength imaging and spectroscopy.Comment: 4 pages, 3 figures, 1 table, accepted for publication in PAS

Induction of embryonal carcinoma cell differentiation by deferoxamine, a potent therapeutic iron chelator

AbstractWe investigated the effects of deferoxamine on the differentiation of embryonal carcinoma F9 cells. Deferoxamine, a widely used therapeutic agent for thalassemia and iron overload, was found to induce F9 cell differentiation and to have some unique characteristics compared with other chelators, hinokitiol and dithizone, which were previously reported to induce differentiation of these cells. This hydrophilic agent induced reversible differentiation as did sodium butyrate, whereas other chelators did not. However, morphological features of the cells after deferoxamine-induced differentiation were similar to those of cells incubated with the other chelators. The differentiation-inducing activity of deferoxamine was abolished by preincubation with Fe3+ ions, similarly to the other chelators examined. Moreover, cell proliferation was inhibited by treatment with this agent, and the numbers of cells in the colonies were reduced by apoptosis. Based on these results, we conclude that deferoxamine induces differentiation and apoptosis of F9 cells via chelation of extracellular and/or intracellular Fe3+ ions