An Introduction to Bond MarketsThis book describes and defines bonds within the context of the capital markets and the different types of bonds that are traded. It includes a detailed look at the analytical techniques used in the market by traders and fund managers. This new edition will update the section on swaps and risk management, update all exercises and examples, add a new section on credit derivatives, add a section on structured finance securities & add a section on trading. Contents also include: Bond yield Measurement, Interest Rate Risk, The UK gilt market and corporate debt markets, Risk Management, Off-balance sheet instruments, including swaps and options, and Overseas and emerging markets. |
Contents
THE YIELD CURVE SPOT AND FORWARD YIELDS | 39 |
BOND INSTRUMENTS AND INTERESTRATE RISK | 71 |
REVIEW OF FLOATINGRATE NOTE BOND INSTRUMENTS | 89 |
THE MONEY MARKETS | 109 |
THE EUROBOND MARKET | 151 |
CONVERTIBLE BONDS MTNs AND WARRANTS | 183 |
CREDIT RATINGS | 195 |
INFLATIONLINKED BONDS | 203 |
AN INTRODUCTION TO SECURITISED BONDS1 | 217 |
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Common terms and phrases
6-month accrued interest amount asset swap bank bank’s basis points Bloomberg L.P. Bloomberg screen bond markets bond price bond’s borrower buyer calculated call option capital cash flows classic repo clean price collateral conventional convexity corporate counterparty coupon bond coupon date coupon payment credit derivatives credit event credit rating credit risk currency debt dirty price discount factors equation Eurobond Euroclear example fixed fixed-rate floating-rate forward rates funds futures contract gilt hedge instruments interest rates interest-rate investment investors issuer lead manager Libor liquidity loan long position Macaulay duration margin maturity date modified duration money market period premium present value quoted redemption yield reference asset repo rate secondary market securities securitisation sell/buy-back seller semiannual settlement specified spot rate structure total return trade transaction Treasury underlying asset Visit www.bloomberg.com Figure volatility yield curve yield to maturity zero-coupon bond