You are here: Home - Cheap Timberland Safety Boots Uk liquidity components of corporate bond spreads
Cheap Timberland Safety Boots Uk liquidity components of corporate bond spreads
We analyze liquidity components of corporate bond spreads during 2005–2009 using a new robust illiquidity measure. The spread contribution from illiquidity increases dramatically with the onset of the subprime crisis. The increase is slow and persistent for investment grade bonds while the effect is stronger but more short-lived for speculative grade bonds. Bonds become less liquid when financial distress hits a lead underwriter and the liquidity of bonds issued by financial firms dries up under crises. During the subprime crisis, flight-to-quality is confined to AAA-rated bonds. We describe a dynamic Bayesian network for articulatory feature recognition. The model is intended to be a component of a speech recognizer that avoids the problems Timberland Boots For Women On Sale of conventional “beads-on-a-string” phoneme-based models. We demonstrate that the model gives superior recognition of articulatory features from Cheap Timberland Safety Boots Uk the speech signal compared with a state-of-the-art neural network system. We also introduce a training algorithm that offers two major advances: it does not require time-aligned feature labels and it allows the model to learn a set of asynchronous feature changes in a data-driven manner.