Login       My Wishlist
  My Cart
$0.00 / 0 items
 
HYIP Offer
The Knowledge You Need to Make Smart, Safe Investments
International Access
Global Shipping Options Available
  Our Catalog   Investing

Fixed Income Securities: Tools for Today's Markets


Extreame Savings Item! Free Shipping Included! Save 47% on the Fixed Income Securities: Tools for Today's Markets by Wiley at HYIP Offer. MPN: 9780470891698. Hurry! Limited time offer. Offer valid only while supplies last. Fixed income practitioners need to understand the conceptual frameworks of their field; to master its quantitative tool-kit; and to be well-versed in its cash-flow and pricing conventions. Fixed Income Securities, Third Edition by Bruce Tuckman and Angel Serrat is designed to balance these three objectives. The book presents theory without unnecessary abstraction; quantitative techniques with a minimum of mathematics; and conventions at a useful level of detail. The book begins with an overview


Product Description & Reviews

Fixed income practitioners need to understand the conceptual frameworks of their field; to master its quantitative tool-kit; and to be well-versed in its cash-flow and pricing conventions. Fixed Income Securities, Third Edition by Bruce Tuckman and Angel Serrat is designed to balance these three objectives. The book presents theory without unnecessary abstraction; quantitative techniques with a minimum of mathematics; and conventions at a useful level of detail. The book begins with an overview of global fixed income markets and continues with the fundamentals, namely, arbitrage pricing, interest rates, risk metrics, and term structure models to price contingent claims. Subsequent chapters cover individual markets and securities: repo, rate and bond forwards and futures, interest rate and basis swaps, credit markets, fixed income options, and mortgage-backed-securities. Fixed Income Securities, Third Edition is full of examples, applications, and case studies. Practically every quantitative concept is illustrated through real market data. This practice-oriented approach makes the book particularly useful for the working professional. This third edition is a considerable revision and expansion of the second. Most examples have been updated. The chapters on fixed income options and mortgage-backed securities have been considerably expanded to include a broader range of securities and valuation methodologies. Also, three new chapters have been added: the global overview of fixed income markets; a chapter on corporate bonds and credit default swaps; and a chapter on discounting with bases, which is the foundation for the relatively recent practice of discounting swap cash flows with curves based on money market rates. [FOR THE UNIVERSITY EDITION] This university edition includes problems which students can use to test and enhance their understanding of the text. From the Authors: Five Ways to Deepen Your Knowledge of Fixed Income Markets in the Wake of the Financial Crisis By Bruce Tuckman and Angel Serrat 1. Get to know the 'big picture' of markets and institutions. When markets are calm, you can get away with focusing on your products, your markets, and your customers or trading partners. During a crisis, however, everyone and everything reacts to the same macro forces. To take one example from the '07-'09 crisis, the deterioration of the housing market put stress on structured mortgage products and on the balance sheets of financial institutions, which, in turn, led to the collapse of a seemingly unrelated market, namely that for municipal auction rate securities. Weakened financial institutions were not in a position to support the auctions, which were failing as investors abandoned nearly all short-term investments in structured products. 2. Understand financing. Financial businesses lose money by bets on some market going bad, but they most often fail because they lose their financing. For example, at the start of the financial crisis, many hedge funds that invested exclusively in mortgage-backed securities on a levered basis were forced to unwind and cease operations. This was in part due to portfolio losses, but mostly due to depletion of capital from having to post more and more collateral in support of their borrowing. An even more important example, of course, was the threat to broker-dealers during the crisis, whose repo and commercial paper funding evaporated. 3. Be aware of money market spreads, basis swaps, and credit risk. Perhaps the single most telling icon of the financial crisis is the graph of the three-month LIBOR-OIS spread. This spread, which can be thought of as the cost of locking up funds for three months relative to borrowing at the overnight fed funds rate, became a key metric of financial stress during the crisis. From 2005 to 2007, the average of the USD and EUR LIBOR-OIS spreads were about eight and six basis points, respectively; at the height of the crisis, these spreads peaked at about 365 and 200 basis points, respectively. Of course, locking in the fed funds rate plus the LIBOR-OIS spread is achieved by borrowing at LIBOR and paying LIBOR vs. OIS in a basis swap. More broadly speaking, this all means that credit risk, even at short maturities and even for historically solid counterparties, can no longer be assumed away. 4. Learn how the practice of discounting has changed. Until relatively recently, the cash flows of swaps were discounted at rates derived from par swap rates. This was never a perfectly sound methodology in theory, but so long as LIBOR was not too different from the cost of funding, the methodology was good enough. During the crisis, however, when LIBOR rose way above the cost of funding, discounting at par swap rates gave significantly misleading results. As a result, the most sophisticated practitioners completed their conversion to a two-curve pricing methodology, and, in June 2010, LCH Clearnet converted to OIS discounting. 5. Follow regulatory changes to derivatives markets. The Dodd-Frank law and other regulatory initiatives set out to require that certain swaps be cleared and that others be subject to new rules and capital requirements. Despite the significant passage of time, however, many of the details of the new regulatory regime, including the criteria for mandated clearing and the extent of capital requirements for non-cleared swaps, remain in flux. As a result, significant uncertainties exist with respect to the costs of using and of making markets in swaps. Fixed Income Securities: Tools for Today's Markets, Third Edition, was revised, among other reasons, to discuss these and other issues that have assumed greater importance as a result of the financial crisis.

Features & Highlights

Additional Information

Manufacturer:Wiley
Part Number:9780470891698
Publisher:Wiley
Studio:Wiley
MPN:9780470891698
EAN:9780470891698
Item Weight:1.93 pounds
Item Size:2 x 9.3 x 9.3 inches
Package Weight:1.95 pounds
Package Size:6.3 x 2.05 x 2.05 inches

Fixed Income Securities: Tools for Today's Markets by Wiley

Buy Now:
Fixed Income Securities: Tools for Today's Markets

4.1 out of 5 stars with 22 reviews
Condition: New
Lead Time: 1 - 2 Business Days
Availability: In Stock
$95.00
$51.07
You Save: 46%


Quantity:  

 


View More In Investing.

 


Have questions about this item, or would like to inquire about a custom or bulk order?


If you have any questions about this product, contact us by completing and submitting the form below. If you are looking for a specif part number, please include it with your message.

First Name:
Last Name:
Email Address:
Your Message:

Related Best Sellers


Financial Markets and Institutions (The Mcgraw-hill / Irwin Series in Finance, Insurance and Real Estate)
By Saunders Anthony
ean: 9780077861667, isbn: 0077861663,

The Investment Advisor Body of Knowledge + Test Bank: Readings for the CIMA Certification
By Wiley
ean: 9781118912324, isbn: 1118912322,

Valuing a Business, 5th Edition: The Analysis and Appraisal of Closely Held Companies (McGraw-Hill Library of Investment and Finance)
By Shannon Pratt
ean: 9780071441803, isbn: 9780071441803,

Investments
By McGraw-Hill Education
ean: 9781259277177, isbn: 1259277178,

Loose Leaf for Personal Finance
By McGraw-Hill Education
ean: 9781259720680, isbn: 1259720683,

Financial Markets and Institutions (8th Edition) (Pearson Series in Finance)
By Pearson
mpn: 43171-318061, ean: 9780133423624, isbn: 013342362X,

G2: Building the Next Generation (Bloomberg Financial)
By Wiley
ean: 9781119370062, isbn: 111937006X,

Time Series Analysis
By Brand: Princeton University Press
mpn: 9780691042893, ean: 9780691042893, isbn: 0691042896,

The Kelly Capital Growth Investment Criterion: Theory and Practice (World Scientific Handbook in Financial Economics)
By Leonard C Maclean
mpn: black & white line drawings, black & whi, ean: 9789814383134, isbn: 9814383139,

Trading Price Action Trends: Technical Analysis of Price Charts Bar by Bar for the Serious Trader
By Wiley
ean: 9781118066515, isbn: 1118066510,



Privacy Policy / Terms of Service / Accessibility Statement
© 2019 - hyipoffer.com. All Rights Reserved.