Product Description
This book provides an introduction to bond markets and bond derivatives for students as well as for executives in commercial businesses and financial institutions. It also:
- Presents the essential elements of debt instruments in an intuitive manner;
- Covers updated institutional material, new sections on callable bonds and the yield to call, convertible bonds, and methods for estimating and modern models of term structure of interest rates, as well as a comprehensive discussion of bonds in the European Economic Union;
- Includes additional end–of–chapter questions, PowerPoint slides, and an Instructor′s text bank through the author′s website: http://bear.cba.ufl.edu/livingston
From the Publisher
Blackwell PublishersThis introduction to bond markets and bond derivatives is ideal for academics as well as for executives in commercial businesses and financial institutions. While many topics about debt instruments involve considerable mathematics, this text presents the essential elements in an intuitive and relatively non-mathematical way. For practitioners, the book can be used as a training manual and reference source for firms involved in the debt markets. In the last 30 years, bond markets have increased significantly in size and complexity. The two major causes are the enormous growth of the level of debt and the high variability of interest rates. Because of interest rate variability, there has been a great increase in potential losses to borrowers and lenders from poor debt choices.
--This text refers to an out of print or unavailable edition of this title.
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