Debt Markets and Analysis

An accessible guide to the essential elements of debt markets
and their analysis

Debt Markets and Analysis provides professionals and
finance students alike with an exposition on debt that will take
them from the basic concepts, strategies, and fundamentals to a
more detailed understanding of advanced approaches and models.

• Strong visual attributes include consistent elements that
  function as additional learning aids, such as: Key Points,
  Definitions, Step-by-Step, Do It Yourself, and Bloomberg
  functionality

• Offers a solid foundation in understanding the complexities and
  subtleties involved in the evaluation, selection, and management of
  debt

• Provides insights on taking the ideas covered and applying them
  to real-world investment decisions

Engaging and informative, Debt Markets and
Analysis provides practical guidance to excelling at this
difficult endeavor.

Klappentext

An accessible guide to the essential elements of debt marketsand their analysis Debt Markets and Analysis provides professionals andfinance students alike with an exposition on debt that will takethem from the basic concepts, strategies, and fundamentals to amore detailed understanding of advanced approaches and models. Strong visual attributes include consistent elements thatfunction as additional learning aids, such as: Key Points,Definitions, Step-by-Step, Do It Yourself, and Bloombergfunctionality Offers a solid foundation in understanding the complexities andsubtleties involved in the evaluation, selection, and management ofdebt * Provides insights on taking the ideas covered and applying themto real-world investment decisions Engaging and informative, Debt Markets andAnalysis provides practical guidance to excelling at thisdifficult endeavor.

Inhalt

Preface ix

Acknowledgments xiii

Part I: Bond Evaluation and Selection

Chapter 1 Overview of the Financial System 3

Chapter 2 Overview and Guide to the Bloomberg System 29

Chapter 3 Bond Value and Return 85

Chapter 4 The Level and Structure of Interest Rates 135

Chapter 5 Bond Risk 179

Chapter 6 Bond Investment Strategies 225

Part II: Debt Markets and Securities

Chapter 7 Corporate Debt Securities 267

Chapter 8 Government Securities and Markets: Treasury, Agencies, Municipals, and Sovereign Debt Securities 319

Chapter 9 Intermediary Debt Securities, Investment Funds, and Markets 369

Chapter 10 Mortgage-Backed and Asset-Backed Securities and Securitization 413

Part III: Debt Derivatives

Chapter 11 Bond and Interest Rate Futures Contracts 479

Chapter 12 Bond and Interest Rate Option Contracts 517

Chapter 13 The Valuation of Bonds with Embedded Options and Debt Options--The Binomial Interest Rate Tree 565

Chapter 14 Interest Rate and Credit Default Swaps 613

Supplemental Appendices

Appendix A: Primer on Return, Present Value, and Future Value 667

Appendix B: Uses of Exponents and Logarithms 679

Appendix C: Directory Listing of Bloomberg Screens by Menu and Function 685

Index 697