Cross‐Section Stock Return and Implied Covariance between Jump and Diffusive Volatility

I examine the information content of option‐implied covariance between jumps and diffusive risk in the cross‐sectional variation in future returns. This paper documents that the difference between realized volatility and implied covariance (RV‐ICov) can predict future returns. The results show a significant and negative association of expected return and realized volatility–implied covariance spread in both the portfolio level analysis and cross‐sectional regression study. A trading strategy of buying a portfolio with the lowest RV‐ICov quintile portfolio and selling with the highest one generates positive and significant returns. This RV‐Cov anomaly is robust to controlling for size, book‐to‐market value, liquidity and systematic risk proportion. Copyright © 2015 John Wiley & Sons, Ltd.     

Muhaka icipe,an enigmatic new genus and species of Kleidotomini (Hymenoptera: Figitidae: Eucoilinae) from an East African coastal forest

A remarkable new eucoiline genus and species, Muhaka icipe, is described herein. The genus is clearly a Kleidotomini, but is distinguished from other genera in the tribe by a unique head and scutellar morphology. The genus belongs to the ‘wedge-head’-syndrome group of species that, to date, is unique to Afrotropical eucoilines. The new genus and species is reminiscent of Stentorceps Quinlan and Nanocthulhu Buffington, but is readily distinguished from these genera. Muhaka was collected from a threatened kaya (sacred forest) of coastal Kenya. The biological importance of this and other kaya forests, as well as their protection, is discussed.

http://www.zoobank.org/urn:lsid:zoobank.org:pub:6918ED2C-69A4-48FC-A1E4-2B5DFF58E876     

Requirements for leukocyte transmigration via the transmembrane chemokine CX3CL1

The surface-expressed transmembrane CX3C chemokine ligand 1 (CX3CL1/fractalkine) induces firm adhesion of leukocytes expressing its receptor CX3CR1. After shedding by the disintegrins and metalloproteinases (ADAM) 10 and 17, CX3CL1 also acts as soluble leukocyte chemoattractant. Here, we demonstrate that transmembrane CX3CL1 expressed on both endothelial and epithelial cells induces leukocyte transmigration. To investigate the underlying mechanism, we generated CX3CR1 variants lacking the intracellular aspartate-arginine-tyrosine (DRY) motif or the intracellular C-terminus which led to a defect in intracellular calcium response and impaired ligand uptake, respectively. While both variants effectively mediated firm cell adhesion, they failed to induce transmigration and rather mediated retention of leukocytes on the CX3CL1-expressing cell layer. Targeting of ADAM10 led to increased adhesion but reduced transmigration in response to transmembrane CX3CL1, while transmigration towards soluble CX3CL1 was not affected. Thus, transmembrane CX3CL1 mediates leukocyte transmigration via the DRY motif and C-terminus of CX3CR1 and the activity of ADAM10.     

Yersinia pestis genome sequencing identifies patterns of global phylogenetic diversity

Plague is a pandemic human invasive disease caused by the bacterial agent Yersinia pestis. We here report a comparison of 17 whole genomes of Y. pestis isolates from global sources. We also screened a global collection of 286 Y. pestis isolates for 933 SNPs using Sequenom MassArray SNP typing. We conducted phylogenetic analyses on this sequence variation dataset, assigned isolates to populations based on maximum parsimony and, from these results, made inferences regarding historical transmission routes. Our phylogenetic analysis suggests that Y. pestis evolved in or near China and spread through multiple radiations to Europe, South America, Africa and Southeast Asia, leading to country-specific lineages that can be traced by lineage-specific SNPs. All 626 current isolates from the United States reflect one radiation, and 82 isolates from Madagascar represent a second radiation. Subsequent local microevolution of Y. pestis is marked by sequential, geographically specific SNPs.     

Potassium and sodium transport in non-animal cells: the Trk/Ktr/HKT transporter family

Bacterial Trk and Ktr, fungal Trk and plant HKT form a family of membrane transporters permeable to K⁺ and/or Na⁺ and characterized by a common structure probably derived from an ancestral K⁺ channel subunit. This transporter family, specific of non-animal cells, displays a large diversity in terms of ionic permeability, affinity and energetic coupling (H⁺–K⁺ or Na⁺–K⁺ symport, K⁺ or Na⁺ uniport), which might reflect a high need for adaptation in organisms living in fluctuating or dilute environments. Trk/Ktr/HKT transporters are involved in diverse functions, from K⁺ or Na⁺ uptake to membrane potential control, adaptation to osmotic or salt stress, or Na⁺ recirculation from shoots to roots in plants. Structural analyses of bacterial Ktr point to multimeric structures physically interacting with regulatory subunits. Elucidation of Trk/Ktr/HKT protein structures along with characterization of mutated transporters could highlight functional and evolutionary relationships between ion channels and transporters displaying channel-like features.     

Book Review: Current Perspectives in the History of Science in East Asia,edited by Y. S. Kim and F. Bray

In 1670, the Bolognese mathematician Pietro Mengoli published his Speculationi di musica, a highly original work attempting to found the mathematical study of music on the anatomy of the ear. His anatomy was idiosyncratic and his mathematics extraordinarily complex, and he proposed a unique double mechanism of hearing. He analysed in detail the supposed behaviour of the subtle part of the air inside the ear, and the patterns of strokes made on the eardrum by simultaneous sounds. Most strikingly, he divided the musical octave into a continuous set of regions which he colour-coded to show their effects on a listener. His work did not find its way into the mainstream of seventeenth-century mathematical studies of music, but when examined in its context it has the potential to shed light on that discipline, as well as being of considerable interest in its own right. Here, I focus on the anatomical and mathematical basis of Mengoli's work.     

The introduction of the differential notation to Great Britain

In the history of chemistry, the Danish chemist Julius Thomsen (1826–1909) is best known for his contributions to thermochemistry. Throughout his life, he was a pronounced atomist and a tireless advocate of neo-Proutian views as to the constitution of matter. On many occasions, especially in his later years, he engaged in speculations concerning the unity of matter and the complexity of atoms. In this engagement, Thomsen was alone in Danish chemistry, but his works were representative of a large number of 19th-century chemists, particularly in England and Germany. Thomsen's ideas as to the constitution of matter, the periodic system and the noble gases, may be seen as typical of this vigorous trend in fin de siècle chemistry.