International financial markets
Designed to provide readers with a solid framework for exploring financial markets as markets, this best-selling book dellineates the basic rules of the game in each of the three major international financial markets: foreign exchange, eurocurrencies, and international bonds, and conveys an intuitive feel for market dynamics. KEY TOPICS: Blends theory and institutional accounts. Considers the interbank market in foreign exchange. Explains how to hedge with FX forwards, futures, and options. A new chapter explores aspects of the European Monetary System in two separate discussions: historical background and general features; and the technical details of the Exchange Rate Mechanism. For readers interested in International Financial Markets. The previous edition ISBN is 0-13-500612-0.
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THE RISE AND FALL OF BRETTON WOODS
FOREIGN EXCHANGE MARKETS
part in THE DETERMINATION
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American amount arbitrage assets bid/asked bid/asked spread bond issue borrower Bretton Woods buyer calculated call option capital cash flow central bank Chapter commercial banks costs countries current account debt discount divergence domestic currency economic equation eurobank eurobond eurocurrency eurodollar eurodollar deposits eurodollar futures eurodollar market European FX example exercise price expected forecasting foreign bonds foreign currency foreign exchange market forward contract forward exchange forward rate French franc futures contract futures price futures-style option FX futures FX options German gold hedge implied interbank market interest parity interest rates involved Italian lira Japanese lead manager lending LIBOR LIFFE loan margin market price marketmakers maturity million option on spot parity grid percent portfolio premium purchase real exchange rate reserves risk sell spot rate strike price swap Swiss franc syndicate tion trade transactions U.S. dollar United