eBook[PDF]

Bond Markets, Analysis, and Strategies 10th Edition By Frank Fabozzi, Francesco Fabozzi

$30.00

✓ Secure checkout

✓ Instant digital download

✓ PDF document

Document details

Pages: 657
File size: 10.53 MB
Format: Digital PDF
Course: Business
Category: eBook[PDF]

About this ebook

Bond Markets, Analysis, and Strategies (10th Edition) by Frank J. Fabozzi and Francesco A. Fabozzi is a comprehensive textbook published by MIT Press. It covers the entire analytical framework of fixed income securities, including debt market sectors, pricing models, credit analysis, and risk-mitigation strategies. [1, 2, 3]

➡️ Core Analytical Framework & Foundations

- Pricing of Bonds: Present value mathematics, discount factors, and time value cash flows.
- Measuring Yield: Calculations for Yield to Maturity (YTM), Yield to Call, and total return.
- Bond Price Volatility: Mechanics of duration (Macaulay, Modified, Effective) and convexity.
- Theory and History of Interest Rates: A brand new chapter exploring the macroeconomic evolution of interest rates.
- Term Structure of Interest Rates: Analysis of yield curves, spot rates, and forward rates. [1, 2, 3, 4, 5]

➡️ Sectors of the Debt Market

- Treasury & Federal Agency Securities: Non-callable government debt, inflation-protected securities (TIPS), and agency debt.
- Corporate Debt Instruments: High-yield bonds, commercial paper, notes, and medium-term debt.
- Municipal Securities: General obligation bonds, revenue bonds, tax exemptions, and credit risks.
- International Bonds: Completely revised chapter detailing sovereign bonds, Eurobonds, and emerging market debt. [1, 2, 3, 4, 5]

➡️ Structured Products & Securitization

- Residential Mortgage Loans: Underlying fundamentals of housing debt and prepayment behaviors.
- Agency Mortgage Pass-Through Securities: Ginnie Mae, Fannie Mae, and Freddie Mac backed pools.
- Agency CMOs & Stripped MBS: Collateralized Mortgage Obligations, IO (Interest-Only), and PO (Principal-Only) structures.
- Nonagency Residential MBS: Private-label securitizations and subprime structures.
- Commercial Mortgage-Backed Securities (CMBS): Commercial property financing, default metrics, and structural tranches.
- Asset-Backed Securities (ABS): Securitization of auto loans, credit card receivables, and student loans. [1, 2]

➡️ Valuation Methodologies & Credit Risk

- Interest-Rate Models: Mathematical approaches to simulating yield paths and arbitrage-free pricing.
- Bonds with Embedded Options: Valuation of callable, putable, and convertible bonds using binomial trees.
- Corporate Bond Credit Risk: Credit analysis models, default probabilities, and credit rating migrations. [1, 2]

➡️ Portfolio Management & Execution Strategies

Collective Investment Vehicles: Fixed-income mutual funds, Exchange-Traded Funds (ETFs), and closed-end funds.
Managing Corporate Bond Portfolios: Completely revised chapter featuring qualitative and quantitative portfolio construction.
Bond Trading Issues: A brand new chapter explicitly tackling liquidity, market microstructure, and trading execution.
Controlling Portfolio Risk: Utilizing interest rate futures, options, swaps, and credit derivatives. [1, 2, 3, 4, 5]