A portfolio-based evaluation of affine term structure models

We focus on affine term structure models as tools for active bond portfolio management. Our financial exercise comprises the following steps: 1) forecast the future values of the state variables implied by several multi-factor models; 2) approximate the conditional moments of the state vector to come up with discrete scenarios for the future state variables 3) compute bond returns for various maturities at future dates from the theoretical asset pricing relations 4) solve the portfolio problem faced by an investor with a six month horizon who takes into account the possibility to rebalance after one quarter. The sequence of optimal portfolios is evaluated in terms of financial properties. We show that a financial based evaluation of term structure models may yield results conflicting with those obtained from a statistical evaluation.     

Synthesis and anti-HIV-1 activity of new delavirdine analogues carrying arylpyrrole moieties.

In our search for novel anti-human immunodeficiency virus (HIV)-1 agents, 14 delavirdine analogues were synthesized and evaluated as potential anti-HIV-1 agents in cell-based assays. Compound 1Aa exhibited potent and selective anti-HIV-1 activity in acutely infected MT4 cells, with effective concentration (EC50) values in the submicromolar range.     

The electron energy loss spectrum of LiF in the band gap region

The eels of LiF has been measured in the range 0–18 eV with primary beam energies 50 eV and 1.5 keV. Four peaks are clearly resolved in the band gap region at room temperature. The amplitude of the three lower energy loss peaks was found to depend on beam exposure and temperature. It is concluded that the lowest energy peak arises at a beam induced defect, that the next two peaks arise in lithium metal liberated by the electron beam and that the peak nearest to the band edge is due to an intrinsic surface excitation.