(债券市场导论)AN INTRODUCTION TO BOND MARKETS pdf 在线 2025 epub 免费 书籍 下载

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.

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

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

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