Debt Markets and Investments provides an overview of the dynamic world of markets, products, valuation, and analysis of fixed income and related securities. Experts in the field, practitioners and academics, offer both diverse and in-depth insights into basic concepts and their application to increasingly intricate and real-world situations. This volume spans the entire spectrum from theoretical to practical, while attempting to offer a useful balance of detailed and user-friendly coverage.
The volume begins with the basics of debt markets and investments, including basic bond terminology and market sectors. Among the topics covered are the relationship between fixed income and other asset classes as well as the differences in fundamental risk. Particular emphasis is given to interest rate risk as well as credit risks as well as those associated with inflation, liquidity, reinvestment, and ESG. Authors then turn to market sectors, including government debt, municipal bonds, the markets for corporate bonds, and developments in securitized debt markets along with derivatives and private debt markets. The third section focuses on models of yield curves, interest rates, and swaps, including opportunities for arbitrage. The next two sections focus on bond and securitized products, from sovereign debt and mutual funds focused on bonds to how securitization has increased liquidity through such innovations as mortgaged-and asset- backed securities, as well as collateralized debt-, bond-, and loan obligations. Authors next discuss various methods of valuation of bonds and securities, including the use of options and derivatives. The volume concludes with discussions of how debt can play a role in financial strategies and portfolio creation.
Readers interested in a broad survey will benefit as will those looking for more in-depth presentations of specific areas within this field of study. In summary, the book provides a fresh look at this intriguing and dynamic but often complex subject.
For scholars, teachers, students, and investors, Debt Markets and Investments is a comprehensive yet accessible guide to all types of debt securities and the markets in which they trade. I'm already revising lecture notes for my MBA-level investments course to reflect insights from this volume. * Scott Smart, Fettig/Whirlpool Finance Faculty Fellow, Kelley School of Business, Indiana University *
This book is very comprehensive in its coverage, making it a great reference-almost any fixed income related topic has its own chapter. The continual incorporation of theory, practical implications, and empirical evidence into the chapters is impressive, and makes the book suitable for novice and expert alike. * Alexander W. Butler, Professor of Finance, Rice University *
Series: Financial Markets and Investments
Number Of Pages: 720
Published: 5th September 2019
Publisher: Oxford University Press Inc
Country of Publication: US
Dimensions (cm): 23.5 x 16.2
Weight (kg): 1.32