The Complete Practitioner's Guide to the Bond Market

The Complete Practitioner's Guide to the Bond Market

by Steven Dym

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A comprehensive, practical guidebook to bonds and the bond market

Speaking directly to the practitioner, this thorough guide covers everything there is to know about bonds—from basic concepts to more advanced bond topics.

The Complete Practitioner’s Guide to the Bond Market addresses the principles of the bond market and offers the tools to apply them in the real world. By tying the concepts of fixed-income products to big-picture aspects of the economy, this book prepares readers to apply specific tools and methods that will help them glean profits from the bond market.

Product Details

ISBN-13: 9780071713726
Publisher: McGraw-Hill Education
Publication date: 01/08/2010
Sold by: Barnes & Noble
Format: NOOK Book
Pages: 480
File size: 4 MB

About the Author

Steven Dym is a strategist at Mariner Capital Partners, a UK-based hedge fund. His articles have appeared in various publications including the Journal of Portfolio Management, Financial Analysts Journal, and Risk Magazine.

Table of Contents

Introduction 1

Part I Fundamental Principles of Bond Structure, Pricing, and Investing 5

Chapter 1 What Is a Bond? 7

Chapter 2 Nonplain Vanilla Bonds 17

Chapter 3 Bond Math-Without the Math 23

Chapter 4 Bond Investment Management 35

Part II Macroeconomics for Market Professionals 49

Chapter 5 How the Economy Works 51

Chapter 6 The Central Bank's Goals, Targets, and Operations 69

Part III Inflation, Yield Curve, and Credit Factors In Bonds 83

Chapter 7 Inflation-Protected Bonds 85

Chapter 8 The Yield Curve 97

Chapter 9 Corporate Bonds 115

Chapter 10 More on Corporates: Cyclicality, Collateral, and Convertibles 131

Part IV Analytical Tools and Techniques 143

Chapter 11 Carry, Rolls, Breakevens, and Recovery 145

Chapter 12 Measuring and Managing Interest-Rate Risk 159

Chapter 13 Convexity, Volatility, and Callability 175

Part V Libor-Based Securities and Derivatives 197

Chapter 14 Money Market Instruments 199

Chapter 15 Floating-Rate Notes 207

Chapter 16 Those Newfangled Floaters 215

Chapter 17 Interest-Rate Swaps 227

Chapter 18 How Institutional Investors Use Swaps 249

Part VI Foreign Trade and Investments 263

Chapter 19 Foreign Trade, Foreign Exchange, and Foreign Bonds 265

Chapter 20 Emerging Markets 289

Part VII Advanced Topics 299

Chapter 21 The Role of Dealers 301

Chapter 22 Repurchase Agreements 321

Chapter 23 Credit Derivatives: The Final Frontier 341

Chapter 24 Hedge Funds in the Fixed-Income Space 371

Notes 395

Index 445

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