Future Economic Information Embedded in High Yield Spreads

2016 ◽  
Author(s):  
Jack Clark Francis ◽  
Christopher Hessel ◽  
Jun Wang
Keyword(s):  
High Yield ◽  
Yield Spreads ◽  
Economic Information

Future Economic Information Embedded in High Yield Spreads

2016 ◽  
Author(s):  
Jack Clark Francis ◽  
Christopher Hessel ◽  
Jun Wang
Keyword(s):  
High Yield ◽  
Yield Spreads ◽  
Economic Information

Future Economic Information Embedded in High Yield Spreads

2016 ◽  
Vol 26 (2) ◽  
pp. 32-39
Author(s):  
Jack Clark Francis ◽  
Christopher Hessel ◽  
Jun Wang
Keyword(s):  
High Yield ◽  
Yield Spreads ◽  
Economic Information

High yield spreads, real economic activity, and the financial accelerator

2013 ◽  
Vol 121 (3) ◽  
pp. 346-355 ◽  
Author(s):  
Pierangelo De Pace ◽  
Kyle D. Weber
Keyword(s):  
Economic Activity ◽  
High Yield ◽  
Financial Accelerator ◽  
Yield Spreads

scholarly journals Financial Media, Price Discovery, and Merger Arbitrage

2020 ◽  
Author(s):  
Matthias M M Buehlmaier ◽  
Josef Zechner
Keyword(s):  
Standard Deviation ◽  
Computational Linguistics ◽  
Stock Prices ◽  
High Yield ◽  
Standard Deviation Increase ◽  
Yield Spreads ◽  
Percentage Points ◽  
The Media ◽  
Financial Media ◽  
Merger Arbitrage

Abstract Using merger announcements and applying methods from computational linguistics we find strong evidence that stock prices underreact to information in financial media. A one standard deviation increase in the media-implied probability of merger completion increases the subsequent 12-day return of a long-short merger strategy by 1.2 percentage points. Filtering out the 28% of announced deals with the lowest media-implied completion probability increases the annualized alpha from merger arbitrage by 9.3 percentage points. Our results are particularly pronounced when high-yield spreads are large and on days when only few merger deals are announced.

scholarly journals The Rise of Covenant-Lite Bond Contracting

2021 ◽  
pp. 0148558X2098738
Author(s):  
Miles Gietzmann ◽  
Helena Isidro ◽  
Ivana Raonic
Keyword(s):  
Public Debt ◽  
Empirical Support ◽  
High Yield ◽  
Lower Yield ◽  
Debt Contracts ◽  
Debt Contracting ◽  
Yield Spreads ◽  
Accounting Performance ◽  
Potential Benefits ◽  
Performance Statistics

We investigate the trading and yield effects of covenant-lite (cov-lite) high-yield bond contracts, which have a restricted (lite) set of covenants. The excluded covenants often are those that use accounting performance measures. Although much research has focused on the potential benefits of accounting as a basis for debt contracting, little is known about settings where it may be optimal to exclude accounting performance statistics from public debt contracts. We find that cov-lite high-yield bonds have a higher trading turnover and lower yield spreads. Our findings provide empirical support for theory, which predicts, for optimal bond covenant design, that a trade-off between improving trading ease versus enhanced investor protection needs to be managed. These results enhance our understanding of the limits of accounting’s role in (bond) contracting design.

Quality films from carbon fiber evaporation for thorough coverage of TEM grids

1988 ◽  
Vol 46 ◽  
pp. 418-419
Author(s):  
N. Tempel ◽  
M. C. Ledbetter
Keyword(s):  
Electron Microscopy ◽  
High Resolution Electron Microscopy ◽  
Carbon Films ◽  
Low Noise ◽  
Vacuum Evaporation ◽  
High Yield ◽  
Good Adhesion ◽  
Noise Structure ◽  
Resolution Electron ◽  
Carbon Foils

Carbon films have been a support of choice for high resolution electron microscopy since the introduction of vacuum evaporation of carbon. The desirable qualities of carbon films and methods of producing them has been extensively reviewed. It is difficult to get a high yield of grids by many of these methods, especially if virtually all of the windows must be covered with a tightly bonded, quality film of predictable thickness. We report here a method for producing carbon foils designed to maximize these attributes: 1) coverage of virtually all grid windows, 2) freedom from holes, wrinkles or folds, 3) good adhesion between film and grid, 4) uniformity of film and low noise structure, 5) predictability of film thickness, and 6) reproducibility.Our method utilizes vacuum evaporation of carbon from a fiber onto celloidin film and grid bars, adhesion of the film complex to the grid by carbon-carbon contact, and removal of the celloidin by acetone dissolution. Materials must be of high purity, and cleanliness must be rigorously maintained.

Effects of high pressure on the crystallization of carbon fiber reinforced polyetheretherketone (CF/PEEK) laminate composites

1990 ◽  
Vol 48 (4) ◽  
pp. 876-877
Author(s):  
Hong-Ming Lin ◽  
C. H. Liu ◽  
R. F. Lee
Keyword(s):  
High Pressure ◽  
Carbon Fiber ◽  
Sample Surface ◽  
High Yield ◽  
Fiber Reinforced ◽  
Laminate Composites ◽  
Peek Composite ◽  
Continuous Carbon Fiber ◽  
Carbon Fiber Reinforced

Polyetheretherketone (PEEK) is a crystallizable thermoplastic used as composite matrix materials in application which requires high yield stress, high toughness, long term high temperature service, and resistance to solvent and radiation. There have been several reports on the crystallization behavior of neat PEEK and of CF/PEEK composite. Other reports discussed the effects of crystallization on the mechanical properties of PEEK and CF/PEEK composites. However, these reports were all concerned with the crystallization or melting processes at or close to atmospheric pressure. Thus, the effects of high pressure on the crystallization of CF/PEEK will be examined in this study.The continuous carbon fiber reinforced PEEK (CF/PEEK) laminate composite with 68 wt.% of fibers was obtained from Imperial Chemical Industry (ICI). For the high pressure experiments, HIP was used to keep these samples under 1000, 1500 or 2000 atm. Then the samples were slowly cooled from 420 °C to 60 °C in the cooling rate about 1 - 2 degree per minute to induce high pressure crystallization. After the high pressure treatment, the samples were scanned in regular DSC to study the crystallinity and the melting temperature. Following the regular polishing, etching, and gold coating of the sample surface, the scanning electron microscope (SEM) was used to image the microstructure of the crystals. Also the samples about 25mmx5mmx3mm were prepared for the 3-point bending tests.

Catalytic enantioselective synthesis of indolizino[8,7-b]indole alkaloid derivatives based on the tandem reaction of tertiary enamides

2021 ◽  
Author(s):  
Xin-Ming Xu ◽  
Ming Xie ◽  
Jiazhu Li ◽  
Mei-Xiang Wang
Keyword(s):  
Indole Alkaloid ◽  
Enantioselective Synthesis ◽  
High Yield ◽  
Tandem Reaction ◽  
Indole Derivatives

An exquisite Pybox/Cu(OTf)2-catalyzed asymmetric tandem reaction of tertiary enamides was developed, which enabled the expeditious synthesis of indolizino[8,7-b]indole derivatives in high yield, excellent enantioselectivity and diastereoselectivity.

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