«We see
every change in market conditions as an opportunity to redouble our educational efforts,» said Edward Tilly, Cboe's CEO, on a conference call Friday.
Not exact matches
Important factors that could cause actual results to differ materially from those reflected
in such forward - looking statements and that should be considered
in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our business and execute our growth strategy, including the timing, execution, and profitability of new and maturing programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance, cost, and revenue under our contracts, including our ability to achieve certain cost reductions with respect to the B787 program; 4) margin pressures and the potential for additional forward losses on new and maturing programs; 5) our ability to accommodate, and the cost of accommodating, announced increases
in the build rates of certain aircraft; 6) the effect on aircraft demand and build rates of
changing customer preferences for business aircraft, including the effect of global economic
conditions on the business aircraft
market and expanding conflicts or political unrest
in the Middle East or Asia; 7) customer cancellations or deferrals
as a result of global economic uncertainty or otherwise; 8) the effect of economic
conditions in the industries and
markets in which we operate
in the U.S. and globally and any
changes therein, including fluctuations
in foreign currency exchange rates; 9) the success and timely execution of key milestones such
as the receipt of necessary regulatory approvals, including our ability to obtain
in a timely fashion any required regulatory or other third party approvals for the consummation of our announced acquisition of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and other customers, and the risk of nonpayment by such customers; 13) any adverse impact on Boeing's and Airbus» production of aircraft resulting from cancellations, deferrals, or reduced orders by their customers or from labor disputes, domestic or international hostilities, or acts of terrorism; 14) any adverse impact on the demand for air travel or our operations from the outbreak of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on pension plan assets and the impact of future discount rate
changes on pension obligations; 17) our ability to borrow additional funds or refinance debt, including our ability to obtain the debt to finance the purchase price for our announced acquisition of Asco on favorable terms or at all; 18) competition from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect of governmental laws, such
as U.S. export control laws and U.S. and foreign anti-bribery laws such
as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both
in the U.S. and abroad; 20) the effect of
changes in tax law, such
as the effect of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and
changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such
changes; 21) any reduction
in our credit ratings; 22) our dependence on our suppliers,
as well
as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco
in a timely matter while avoiding any unexpected costs, charges, expenses, adverse
changes to business relationships and other business disruptions for ourselves and Asco
as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations
in foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other things.
Certain matters discussed
in this news release are forward - looking statements that involve a number of risks and uncertainties including, but not limited to, doubts about the Company's ability to continue
as a going concern, the need to obtain additional funding, risks
in product development plans and schedules, rapid technological
change,
changes and delays
in product approval and introduction, customer acceptance of new products, the impact of competitive products and pricing,
market acceptance, the lengthy sales cycle, proprietary rights of the Company and its competitors, risk of operations
in Israel, government regulations, dependence on third parties to manufacture products, general economic
conditions and other risk factors detailed
in the Company's filings with the United States Securities and Exchange Commission.
As a group, they believe that, should
conditions cause them to
change their collective mind, there will be enough liquidity
in markets to reposition their portfolios with relative ease and at a relatively low cost.
Actual results and the timing of events could differ materially from those anticipated
in the forward - looking statements due to these risks and uncertainties
as well
as other factors, which include, without limitation: the uncertain timing of, and risks relating to, the executive search process; risks related to the potential failure of eptinezumab to demonstrate safety and efficacy
in clinical testing; Alder's ability to conduct clinical trials and studies of eptinezumab sufficient to achieve a positive completion; the availability of data at the expected times; the clinical, therapeutic and commercial value of eptinezumab; risks and uncertainties related to regulatory application, review and approval processes and Alder's compliance with applicable legal and regulatory requirements; risks and uncertainties relating to the manufacture of eptinezumab; Alder's ability to obtain and protect intellectual property rights, and operate without infringing on the intellectual property rights of others; the uncertain timing and level of expenses associated with Alder's development and commercialization activities; the sufficiency of Alder's capital and other resources;
market competition;
changes in economic and business
conditions; and other factors discussed under the caption «Risk Factors»
in Alder's Annual Report on Form 10 - K for the fiscal year ended December 31, 2017, which was filed with the Securities and Exchange Commission (SEC) on February 26, 2018, and is available on the SEC's website at www.sec.gov.
Such risks, uncertainties and other factors include, without limitation: (1) the effect of economic
conditions in the industries and
markets in which United Technologies and Rockwell Collins operate
in the U.S. and globally and any
changes therein, including financial
market conditions, fluctuations
in commodity prices, interest rates and foreign currency exchange rates, levels of end
market demand
in construction and
in both the commercial and defense segments of the aerospace industry, levels of air travel, financial
condition of commercial airlines, the impact of weather
conditions and natural disasters and the financial
condition of our customers and suppliers; (2) challenges
in the development, production, delivery, support, performance and realization of the anticipated benefits of advanced technologies and new products and services; (3) the scope, nature, impact or timing of acquisition and divestiture or restructuring activity, including the pending acquisition of Rockwell Collins, including among other things integration of acquired businesses into United Technologies» existing businesses and realization of synergies and opportunities for growth and innovation; (4) future timing and levels of indebtedness, including indebtedness expected to be incurred by United Technologies
in connection with the pending Rockwell Collins acquisition, and capital spending and research and development spending, including
in connection with the pending Rockwell Collins acquisition; (5) future availability of credit and factors that may affect such availability, including credit
market conditions and our capital structure; (6) the timing and scope of future repurchases of United Technologies» common stock, which may be suspended at any time due to various factors, including
market conditions and the level of other investing activities and uses of cash, including
in connection with the proposed acquisition of Rockwell; (7) delays and disruption
in delivery of materials and services from suppliers; (8) company and customer - directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (9) new business and investment opportunities; (10) our ability to realize the intended benefits of organizational
changes; (11) the anticipated benefits of diversification and balance of operations across product lines, regions and industries; (12) the outcome of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the impact of the negotiation of collective bargaining agreements and labor disputes; (15) the effect of
changes in political
conditions in the U.S. and other countries
in which United Technologies and Rockwell Collins operate, including the effect of
changes in U.S. trade policies or the U.K.'s pending withdrawal from the EU, on general
market conditions, global trade policies and currency exchange rates
in the near term and beyond; (16) the effect of
changes in tax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to
as the Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations
in the U.S. and other countries
in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result
in the imposition of
conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other
conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including
in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the
market price of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted
in their operation of their businesses while the merger agreement is
in effect; (21) risks relating to the value of the United Technologies» shares to be issued
in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel.
Important factors that could cause our actual results and financial
condition to differ materially from those indicated
in the forward - looking statements include, among others, the following: our ability to successfully and profitably
market our products and services; the acceptance of our products and services by patients and healthcare providers; our ability to meet demand for our products and services; the willingness of health insurance companies and other payers to cover Cologuard and adequately reimburse us for our performance of the Cologuard test; the amount and nature of competition from other cancer screening and diagnostic products and services; the effects of the adoption, modification or repeal of any healthcare reform law, rule, order, interpretation or policy; the effects of
changes in pricing, coverage and reimbursement for our products and services, including without limitation
as a result of the Protecting Access to Medicare Act of 2014; recommendations, guidelines and quality metrics issued by various organizations such
as the U.S. Preventive Services Task Force, the American Cancer Society, and the National Committee for Quality Assurance regarding cancer screening or our products and services; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, licensing and supplier arrangements; our ability to maintain regulatory approvals and comply with applicable regulations; and the other risks and uncertainties described
in the Risk Factors and
in Management's Discussion and Analysis of Financial
Condition and Results of Operations sections of our most recently filed Annual Report on Form 10 - K and our subsequently filed Quarterly Reports on Form 10 - Q.
For example, the expected timing and likelihood of completion of the proposed merger, including the timing, receipt and terms and
conditions of any required governmental and regulatory approvals of the proposed merger that could reduce anticipated benefits or cause the parties to abandon the transaction, the ability to successfully integrate the businesses, the occurrence of any event,
change or other circumstances that could give rise to the termination of the merger agreement, the possibility that Kraft shareholders may not approve the merger agreement, the risk that the parties may not be able to satisfy the
conditions to the proposed transaction
in a timely manner or at all, risks related to disruption of management time from ongoing business operations due to the proposed transaction, the risk that any announcements relating to the proposed transaction could have adverse effects on the
market price of Kraft's common stock, and the risk that the proposed transaction and its announcement could have an adverse effect on the ability of Kraft and Heinz to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers and on their operating results and businesses generally, problems may arise
in successfully integrating the businesses of the companies, which may result
in the combined company not operating
as effectively and efficiently
as expected, the combined company may be unable to achieve cost - cutting synergies or it may take longer than expected to achieve those synergies, and other factors.
Factors that could cause actual results to differ include general business and economic
conditions and the state of the solar industry; governmental support for the deployment of solar power; future available supplies of high - purity silicon; demand for end - use products by consumers and inventory levels of such products
in the supply chain;
changes in demand from significant customers;
changes in demand from major
markets such
as Japan, the U.S., India and China;
changes in customer order patterns;
changes in product mix; capacity utilization; level of competition; pricing pressure and declines
in average selling prices; delays
in new product introduction; delays
in utility - scale project approval process; delays
in utility - scale project construction; delays
in the completion of project sales; continued success
in technological innovations and delivery of products with the features customers demand; shortage
in supply of materials or capacity requirements; availability of financing; exchange rate fluctuations; litigation and other risks
as described
in the Company's SEC filings, including its annual report on Form 20 - F filed on April 27, 2017.
Factors that could cause actual results to differ include general business and economic
conditions and the state of the solar industry; governmental support for the deployment of solar power; future available supplies of high - purity silicon; demand for end - use products by consumers and inventory levels of such products
in the supply chain;
changes in demand from significant customers;
changes in demand from major
markets such
as Japan, the U.S., India and China;
changes in customer order patterns;
changes in product mix; capacity utilization; level of competition; pricing pressure and declines
in average selling prices; delays
in new product introduction; delays
in utility - scale project approval process; delays
in utility - scale project construction; continued success
in technological innovations and delivery of products with the features customers demand; shortage
in supply of materials or capacity requirements; availability of financing; exchange rate fluctuations; litigation and other risks
as described
in the Company's SEC filings, including its annual report on Form 20 - F filed on April 20, 2016.
Factors that could cause actual results to differ include general business and economic
conditions and the state of the solar industry; governmental support for the deployment of solar power; future available supplies of high - purity silicon; demand for end - use products by consumers and inventory levels of such products
in the supply chain;
changes in demand from significant customers;
changes in demand from major
markets such
as Japan, the U.S., India and China;
changes in customer order patterns;
changes in product mix; capacity utilization; level of competition; pricing pressure and declines
in average selling prices; delays
in new product introduction; delays
in utility - scale project approval process; delays
in utility - scale project construction; cancelation of utility - scale feed -
in - tariff contracts
in Japan; continued success
in technological innovations and delivery of products with the features customers demand; shortage
in supply of materials or capacity requirements; availability of financing; exchange rate fluctuations; litigation and other risks
as described
in the Company's SEC filings, including its annual report on Form 20 - F filed on April 27, 2017.
The BlackRock ® Diversified Income Portfolio is flexible
in nature, meaning the investment managers have the ability to adjust or shift its asset allocation
as market conditions change in order to find attractive income opportunities with an appropriate amount of risk.
However, an improvement
in market internals would encourage us to give a longer leash to this speculation, and we will align our outlook
as conditions change.
With Allocation, you'll be able to determine if your portfolio is
in balance
as market conditions change.
The additional factors considered when determining any
changes in fair value between the most recent valuation report and the grant dates included, when available, the prices paid
in recent transactions involving our equity securities,
as well
as our operating and financial performance, current industry
conditions and the
market performance of comparable publicly traded companies.
The trend can be seen
in both the supply of and demand for
market - making services, and reflects both post-crisis cyclical
conditions (such
as diminished bank risk appetite and strong bond issuance) and structural
changes in the
markets themselves (such
as tighter risk management or regulatory constraints).
Any opinions, recommendations, and assumptions included
in this presentation are based upon current
market conditions, reflect our judgment
as of the date of this presentation, and are subject to
change.
VANCOUVER — The Real Estate Board of Greater Vancouver says
market conditions in the city are
changing as sales
in April fell to a 17 - year low for the month.
We caution you that these statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including volatility
in the economy and the credit
markets, supply and demand
changes for vacation ownership and residential products, competitive
conditions; the availability of capital to finance growth, and other matters referred to under the heading «Risk Factors» contained
in the Information Statement filed
as an exhibit to our Annual Report on Form 10 - K for the year ended December 30, 2011 filed with the U.S. Securities and Exchange Commission (the «SEC») and
in subsequent SEC filings, any of which could cause actual results to differ materially from those expressed
in or implied
in this presentation.
Examples of these risks, uncertainties and other factors include, but are not limited to the impact of: adverse general economic and related factors, such
as fluctuating or increasing levels of unemployment, underemployment and the volatility of fuel prices, declines
in the securities and real estate
markets, and perceptions of these
conditions that decrease the level of disposable income of consumers or consumer confidence; adverse events impacting the security of travel, such
as terrorist acts, armed conflict and threats thereof, acts of piracy, and other international events; the risks and increased costs associated with operating internationally; our expansion into and investments
in new
markets; breaches
in data security or other disturbances to our information technology and other networks; the spread of epidemics and viral outbreaks; adverse incidents involving cruise ships;
changes in fuel prices and / or other cruise operating costs; any impairment of our tradenames or goodwill; our hedging strategies; our inability to obtain adequate insurance coverage; our substantial indebtedness, including the ability to raise additional capital to fund our operations, and to generate the necessary amount of cash to service our existing debt; restrictions
in the agreements governing our indebtedness that limit our flexibility
in operating our business; the significant portion of our assets pledged
as collateral under our existing debt agreements and the ability of our creditors to accelerate the repayment of our indebtedness; volatility and disruptions
in the global credit and financial
markets, which may adversely affect our ability to borrow and could increase our counterparty credit risks, including those under our credit facilities, derivatives, contingent obligations, insurance contracts and new ship progress payment guarantees; fluctuations
in foreign currency exchange rates; overcapacity
in key
markets or globally; our inability to recruit or retain qualified personnel or the loss of key personnel; future
changes relating to how external distribution channels sell and
market our cruises; our reliance on third parties to provide hotel management services to certain ships and certain other services; delays
in our shipbuilding program and ship repairs, maintenance and refurbishments; future increases
in the price of, or major
changes or reduction
in, commercial airline services; seasonal variations
in passenger fare rates and occupancy levels at different times of the year; our ability to keep pace with developments
in technology; amendments to our collective bargaining agreements for crew members and other employee relation issues; the continued availability of attractive port destinations; pending or threatened litigation, investigations and enforcement actions;
changes involving the tax and environmental regulatory regimes
in which we operate; and other factors set forth under «Risk Factors»
in our most recently filed Annual Report on Form 10 - K and subsequent filings by the Company with the Securities and Exchange Commission.
Woolworths chief executive Grant O'Brien mounted a similar defence
in February, blaming the entry of global rivals such
as Aldi for pricing pressure on suppliers and saying Woolworths» future was at risk unless it responded to
changing market conditions.
In some of these companies the departure of the CEO coincided with a dramatic change in market conditions or some other external shock such as the global financial crisi
In some of these companies the departure of the CEO coincided with a dramatic
change in market conditions or some other external shock such as the global financial crisi
in market conditions or some other external shock such
as the global financial crisis.
However, ACCC analysis indicates that these increases
in gross margins could have only made a small contribution to overall food price inflation.2 In other words, the vast majority of grocery price increases in Australia are attributable to other factors, such as supply and demand changes in international and domestic markets, increases in the costs of production and domestic weather condition
in gross margins could have only made a small contribution to overall food price inflation.2
In other words, the vast majority of grocery price increases in Australia are attributable to other factors, such as supply and demand changes in international and domestic markets, increases in the costs of production and domestic weather condition
In other words, the vast majority of grocery price increases
in Australia are attributable to other factors, such as supply and demand changes in international and domestic markets, increases in the costs of production and domestic weather condition
in Australia are attributable to other factors, such
as supply and demand
changes in international and domestic markets, increases in the costs of production and domestic weather condition
in international and domestic
markets, increases
in the costs of production and domestic weather condition
in the costs of production and domestic weather
conditions.
Among the important factors that could cause Rio Tinto's actual results, performance or achievements to differ materially from those
in the forward - looking statements include, among others, levels of actual production during any period, levels of demand and
market prices, the ability to produce and transport products profitably, the impact of foreign currency exchange rates on
market prices and operating costs, operational problems, political uncertainty and economic
conditions in relevant areas of the world, the actions of competitors, activities by governmental authorities such
as changes in taxation or regulation and such other risk factors identified
in Rio Tinto's most recent Annual Report on Form 20 - F filed with the United States Securities and Exchange Commission (the «SEC») or Form 6 - Ks furnished to the SEC.
In 2016, the tolino vision 4 HD was followed by the
market launch of a new display feature: using «smartLight» technology, the color temperature optimally adapts to the light
conditions at any time of day or night and
changes from cold white to warm white light
as the day progresses.
As your retirement needs and
market conditions change, so should the amount you draw from assets if you want to avoid running through your savings too soon or being left with a big pile of cash
in your dotage.
As the current
market regime wanes, we believe a case can be made for dynamic strategies that are responsive to
changing market conditions,
in particular, managed futures strategies that take long / short positions across a diversified basket of commodity and financial
market futures.
If that turns out to be true, we believe stock and bond
markets are more likely to experience volatility and «turning points»
as these
markets adjust to new policy imperatives,
in which case, more active strategies that employ dynamic approaches to
changing market conditions will have the potential to outperform passive, long - only investment strategies.
The opinions expressed are those of Peter Hayes
as of 2/3/2015 and are subject to
change at any time due to
changes in market or economic
conditions.
Asset models are reviewed by the Investment Committee every quarter and
changes may be made,
as deemed appropriate,
in response to
market conditions and are made available to self - directed investors through PortfolioBuilder.
Investing to profit from the evolution
in the
market as a result of climate
change should allow for a portfolio to weather any financial
conditions over the long - term.
The opinions expressed are those of Russ Koesterich
as of 5/13/2015 and are subject to
change at any time due to
changes in market or economic
conditions.
The truth is that, the only way to confidently tell when
market conditions are
changing is to have a solid command of how to analyze and interpret the price action
in the
market, there's no indicator that can help you determine
market conditions as well
as price action can.
Market prices for securities change daily as a result of many factors, including developments affecting the condition of both individual companies and the market in ge
Market prices for securities
change daily
as a result of many factors, including developments affecting the
condition of both individual companies and the
market in ge
market in general.
Depending on
market conditions & timing that may or may not be the case —
as real estate prices
change due to a wide array of local factors and broader macro-economic impacts like
changes in mortgage rates.
The
market value of a fund's portfolio may decline
as a result of a number of factors, including adverse economic and
market conditions, prospects of stocks
in the portfolio,
changing interest rates, and real or perceived adverse competitive industry
conditions.
The
market value of the portfolio may decline
as a result of a number of factors, including adverse economic and
market conditions, prospects of stocks
in the portfolio,
changing interest rates, and real or perceived adverse competitive industry
conditions.
Other reasons for executing an exit strategy may include a significant
change in market conditions due to a catastrophic event; legal reasons, such
as estate planning, liability lawsuits or a divorce; or for the simple reason that a business owner / investor is retiring and wants to cash out.
An increase
in the value of property over time due to
changes in market conditions or other causes such
as inflation, increased demand or even
condition of the property.
All forms of securities may decline
in value due to factors affecting securities
markets generally, such
as real or perceived adverse economic, political, or regulatory
conditions, inflation,
changes in interest or currency rates or adverse investor sentiment.
Regulatory
changes and
market conditions have decreased liquidity
in the secondary bond
market, even
as new issues remain strong.
The required minimum will be specified
as a percentage of the fund's net assets to be invested
in «highly liquid investments» — meaning cash held by a fund and any investment that the fund reasonably believes is convertible into cash
in current
market conditions within three business days without significantly
changing the
market value of the investment.
The Real Estate Board of Greater Vancouver (REBGV) says
market conditions in the city are
changing as sales
in April fell to a 17 - year low for the month.
There are many «flash
in the pan» strategies that worked for awhile - then stopped working
as market conditions changed: Carry trade / correlation trades / news spike trades, etc. (Yes, these are all approaches to trading we have personally used
in the past that just don't work well anymore now).
A high loan - to - valuation ratio means that a mortgage scheme is more vulnerable to
changing market conditions, such
as a downturn
in the property
market.
Over time,
as market conditions change, investment performances among asset classes
change but not
in the same amount at the same time.
So unless that manager believes
in a style that is an outperforming style for a while, they usually just don't all of a sudden
change that philosophy
as market conditions change.
The opinions expressed are those of Jeffrey Rosenberg
as of 4/15/2015 and are subject to
change at any time due to
changes in market or economic
conditions.
The
market price of closed - end fund shares generally reflects investment results of the underlying portfolio, but it may also be influenced by other factors, such
as changes in investor perceptions of the fund or its investment advisor,
market conditions, fluctuations
in supply and demand for the fund's shares, and
changes in fund distributions.
Our assets are allocated based on the manager's assessment of value across countries and sectors given
changing market, political and economic
conditions,
as well
as an
in - depth evaluation of interest rates, exchange rates and credit risks.