During Period 3, the coefficient estimates of 0.003 are also significant in the opposite direction of the variance of the H tranche portfolio for the previous trading period to that of the A tranche portfolio for the current trading period, this shows that the spillover impact is actually two directional from A to H share market and vice versa.
However, during Period 2, as such coefficient estimates of 0.02 are not significant in the opposite direction of the variance of the H tranche portfolio for the previous trading period to that of the A tranche portfolio for the current trading period, this shows that the spillover impact is mainly one directional from A to H share market.
The coefficient estimates of 0.011 and 0.010 on ARCH (H, A) are significantly positive, suggesting that the information from A tranche, captured by the unconditional volatility of the A tranche portfolio, spills over to the H tranche and significantly impacts the variance of H tranche portfolio.
Britain's most senior tax official told MPs she was confident civil servants told ministers in 2010 about a tranche of data that uncovered avoidance and evasion at HSBC's Swiss bank.
For a tranche of society that probably has never used let alone heard of these insurance products, it's an enormous leap of faith.
When a school becomes an academy, it gains control of a tranche of funding that was previously held back by the local authority to provide services across the area, such as pupil welfare, building work, administrative support and arts and outdoor education.
According to a former Goldman derivatives trader, Goldman would buy the triple-A tranche of some CDO, pair it off with the credit default swaps AIG sold Goldman that insured the tranche (at a cost well below the yield of the tranche), declare the entire package risk-free, and hold it off its balance sheet.
It sits almost at the foot of the Kintyre peninsula, the lower two-thirds of a tranche of land that shears violently off the west coast of Scotland into the Irish Sea.
There was nothing to suggest in a tranche of MI6 papers that the UK raised concerns about his ordeal with the regime.
It appears that he received a tranche of hacked material sometime between May 25th the latest date of any e-mail that WikiLeaks published and June 12th.
