In the system of measuring Angle of phaseinterferometer, it isconsidered thattheimpact brought bybaselineobliquityon phase can beeliminated by equivalentbaseline from geometric projection.
"We do not think the baselineprojection of 7.6% constitutes a peak in default rates for this cycle, and foresee further defaults materializing beyond the one-year forecasting horizon, " Vazza wrote in a report Wednesday.