British scientists are going to test whether COVID-19 vaccines can be mixed and matched. The vaccines that are rolling out now require two doses, weeks apart, and they should be the same kind. In the study starting Thursday, participants will get one shot of the AstraZeneca vaccine followed by a Pfizer dose, or vice versa. The vaccines use different technologies and it’s unclear whether mixing them might work. But British officials say that, if successful, the study could allow for more flexible policies and help deal with vaccine shortages. Researchers are hoping to enroll 800 volunteers.
Large scale redemptions from investment funds could spark turbulence in the corporate bond market and threaten the stability of financial markets and institutions, according to a new paper published by the Bank of England.The paper – which is intended as a first-step in developing a financial system-wide stress simulation framework – looked at how the behaviour of several sectors like investment funds and broker-dealers could “interact to spread and amplify stress” in corporate bond markets.“Under a severe but plausible set of assumptions regarding market participant behaviours, investor redemptions could result in material increases in spreads in the corporate bond market and, in the extreme, in corporate bond market dislocation, threatening the stability of financial markets and institutions,” the paper said. Explaining the rationale behind the paper, Alex Brazier, executive director and member of the Financial Policy Committee, said a key priority for the Bank was to assess how the non-bank part of the financial system, which includes investment funds, pension funds and sovereign wealth funds, responds to economic shocks. He noted that globally, assets held by non-bank financial intermediaries had increased by more than a third since the financial crisis. And while this growth had been beneficial, Brazier said the new structure of the system had yet to be tested by “severe shocks”.The Bank’s simulation model found that weekly levels of redemptions from funds equivalent to 1% of their total assets — levels experienced in the financial crisis — could increase corporate bond interest rates for companies with high credit ratings by around 40 basis points.The model also examined the scale of redemptions that would be needed to overwhelm the capacity of dealers to absorb those sales, resulting in market dysfunction.“Investor redemptions one third higher than those observed during the crisis could be sufficient for this to happen — an unlikely, but not impossible, event,” Brazier said.And while such market dislocation was a “tail risk”, the paper said the probability of it crystallising could increase, especially if the potential demand for liquidity, including that arising from the investment fund sector, continued to grow relative to the supply of liquidity by dealers and other investors.“[This paper] has allowed a scenario to be explored in which large scale redemptions from open-ended investment funds trigger sales by those funds, with resulting spillover effects to dealers and hedge funds,” Brazier said.The paper noted funds’ liquidity mismatch during the summer of 2016, when following the Brexit vote, a number of UK open-ended property funds experienced significant outflows and had to suspend any further redemptions.Brazier said that while it was too soon to use these simulations to draw policy conclusions, they could be used to inform macroprudential policies regarding market-based finance activities; the appropriate level of bank resilience and the “precise design of regulations placed on banks and others to ensure that their individual safety is achieved as far as possible in a way that also promotes the stability of market-based finance”.The paper was written by Yuliya Baranova, Jamie Coen, Pippa Lowe, Joseph Noss and Laura Silvestri. read more
Boss Nigel Pearson has warned his Leicester side they have achieved nothing yet despite climbing out of the relegation zone. Press Association And Pearson insisted the Foxes cannot take their position for granted as they need to be out of the bottom three in May. He said: “It’s to be out of them after the last game of the season which is going to be the most important thing. For me it makes no difference whatsoever (being out now). “What they (the players) have to remain is focused and that’s something we have to continue to work hard at. “I’m not trying to play it down because at this stage and with the situation we are in it’s very positive to talk about four wins on the trot. “But we talked about if we can get to the last four or fives games in contention – and we are. “If we can go to the last game with our fate in our own hands that will be something which maybe a couple of months ago you hoped for but it was not as realistic as it is now.” Pearson could be without David Nugent (calf) and Jamie Vardy (foot) while Jeff Schlupp is also struggling with a calf problem. The Foxes have earned praise for their performances this season, despite struggling before their current run, but Pearson is only focused on results. He added: “The results, ultimately, are going to be more important than the performances and it’s been very satisfying for us to get these results. It does make our chances more realistic now.” The Foxes are a point above the Barclays Premier League bottom three ahead of Wednesday visit of leaders Chelsea. Leicester have won their last four games, including Saturday’s 1-0 victory at Burnley, to lift them out of the drop zone for the first time since November. read more
‘High crimes and misdemeanors’: Trump impeachment trial begins Japan training for Asiad-bound national volleybelles Compton sounded sincere enough when he said that it wasn’t.“Will it be sweet beating them?” Compton asked the Inquirer. “Of course it will be, because they’re the best team in the league, and for us, that in itself is enough motivation.”FEATURED STORIESSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSAfter winning title, time for LA Tenorio to give back to Batangas folkSPORTSTim Cone still willing to coach Gilas but admits decision won’t be ‘simple yes or no’Alaska and the Beermen tangle in a best-of-five series starting on Saturday at Mall of Asia Arena in Pasay City, and Compton is again relishing his role as the underdog in this matchup even if the Aces qualified as a higher seed than the Beermen for the playoffs.“You saw how they handled TNT (KaTropa) in their series, right?” Compton said, referring to San Miguel’s 2-0 sweep of the Texters, counting a rally from 23 points down in Game 1. Don’t miss out on the latest news and information. In fight vs corruption, Duterte now points to Ayala, MVP companies as ‘big fish’ Trump assembles a made-for-TV impeachment defense team Report: Disney dropping the ‘Fox’ from movie studio names “That’s a pretty tough team they (Beermen) just swept. That’s how good they are.”Of the four semifinalists, Alaska seems to be the one few listed would get here.Management suspended superstar power forward Calvin Abueva indefinitely for disciplinary reasons, Jeron Teng, the prized rookie, was involved in a bar fight and was stabbed several times, and the Aces’ original import opted out to try his luck in the NBA.Those were distractions the team didn’t need, but those distractions are what made this run special.“I’m just proud of this team for persevering,” Compton said in another interview.ADVERTISEMENT LATEST STORIES Putin’s, Xi’s ruler-for-life moves pose challenges to West Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award Nadine Lustre’s phone stolen in Brazil Palace OKs total deployment ban on Kuwait OFWs Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew Volcano watch: Island fissures steaming, lake water receding And just when most everyone are wondering if Alaska would opt to have all hands on deck for this series with San Miguel by ending Abueva’s suspension, Compton was quick to point out that: “nothing has changed for us. This same team that got us here will be trying to beat San Miguel.”Sports Related Videospowered by AdSparcRead Next Photo by Tristan Tamayo / INQUIRER.netAlex Compton and his Alaska Aces have waited more than two years for this chance to come again, for them to once and for all be able to bury the ghost of the 2016 PBA Philippine Cup Finals collapse which ultimately gave birth to San Miguel’s “Beer-acle.”So when Compton watched at ringside on Wednesday night and saw how the Beermen sewed up a Final Four clash with his Alaska crew in the Commissioner’s Cup, a fair question to ask the Aces coach was: “Would redemption be the biggest driving force for you in this series?”ADVERTISEMENT MOST READ View comments read more