Pricing Money: A Beginner's Guide to Money, Bonds, Futures and Swaps
Pricing Money provides a highly practical introduction to the principles of bonds and fixed income and is aimed at readers who have little prior knowledge.
The book is written in a style that is not overly mathematical or theoretical but takes a practical approach focusing on the aspects of pricing and trading fixed-income securities that are most relevant to the day-to-day activities of people working in the markets.
Starting at a basic level the author explains the concepts and principles behind fixed income in an informative way using every day examples that can be understood by the layman. It includes a listing of the terms used; the rules and conventions; the techniques for valuation and pricing and a description of the different roles within the industry. This book will be an excellent training tool for new recruits to the financial markets.
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Money markets OlO030
Government bonds l
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10-year bond 100 million 100 nominal accrued interest asset swap bank’s basis swap bond futures bond pays borrow money buyer calculation cash cashﬂows central bank clean price clearing house client collateral conversion factor cost of borrowing counterparties crash credit risk CSFB currency dealer default deliver deposit diﬁerent dollars euro eurozone example expiry ﬁnal ﬁnancial markets ﬁrst ﬁxed-coupon ﬁxed-rate ﬁxing ﬂattener ﬂoating rate ﬂoating-rate ﬂows forward price forward rates futures contract gilts gold govemment bond govemment debt hence HSBC IBOR implied volatility inﬂation interest payments interest rate interest-rate futures investment bank investors issue issuer lead managers Macaulay duration market maker market price maturity months NatWest option paid position price action proﬁt or loss prop traders put option quoted repo rate retum sell seller semi-annual speciﬁcation sterling strip Swiss francs tradable trade transaction Treasury troy ounce typically underlying USD/JPY variation margin yield curve zero-coupon