AN INTRODUCTION TO BOND MARKETS (债券市场导论)
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内容提要：
This 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.
作者简介：
Dr Moorad Choudhry is Head of Treasury at KBC Financial Products in London. He is a Visiting Professor at the Department of Economics, London Metropolitan University, a Visiting Research Fellow at the ICMA Centre, University of Reading, a Senior Fellow at the Department of Mathematical Trading and Finance, Cass Business School, and a Fellow of the Securities and Investment Institute.
目录：
Foreword
Preface About the author Foreword Preface About the author 1 INTRODUCTION TO BONDS Description Outline of market participants Bond analysis Financial arithmetic: The time value of money Present value and discounting Discount factors Bond pricing and yield: The traditional approach Bond pricing Bond yield Accrued interest Clean and dirty bond prices Day-count conventions Illustrating bond yield using Excel spreadsheets Bibliography 2 THE YIELD CURVE, AND SPOT AND FORWARD YIELDS The yield curve Yield-to-maturity yield curve The par yield curve The zero-coupon (or spot) yield curve The forward yield curve Theories of the yield curve Spot rates Discount factors and the discount function Implied spot and forward rates Understanding forward rates The term structure of interest rates Bibliography 3 BOND INSTRUMENTS AND INTEREST-RATE RISK Duration, modified duration and convexity Duration Properties of Macaulay duration Modified duration Convexity Bibliography 4 REVIEW OF FLOATING-RATE NOTE BOND INSTRUMENTS 5 THE MONEY MARKETS 6 THE EUROBOND MARKET 7 CONVERTIBLE BONDS, MTNs AND WARRANTS 8 CREDIT RATINGS 9 INFLATION-LINKED BONDS 10 AN INTRODUCTION TO SECURITISED BONDS 11 INTRODUCTION TO DERIVATIVE INSTRUMENTS 12 INTRODUCTION TO CREDIT DERIVATIVES 13 APPROACHES TO GOVERNMENT BOND TRADING AND YIELD ANALYSIS 14 RISK MANAGEMENT Bibliography Glossary List of abbreviations Index |