Product Description
The global market for inflation–indexed securities has ballooned in recent years, and this trend is set to continue. This book examines the rationale behind issuance and investment decisions, and details the issues facing anyone who designs indexed securities, illustrating them wherever possible with actual examples from the international capital markets. In particular, an extensive review of indexed debt markets throughout the world is provided – including for the first time, a comprehensive and consistent set of cash flow and price–yield equations for the instruments already in existence in the major bond markets – forming an important reference for those already experienced in the field, as well as practitioners and academics approaching the subject for the first time.
The book also provides unique insight into the development of inflation–indexed derivative products, and the analytical tools required to value such instruments.
From the Inside Flap
In recent years the global market for inflation–indexed securities has expanded rapidly as inflation–linked bonds have evolved from a niche product to become a truly international asset class.
This book provides comprehensive coverage of many aspects of inflation–indexed securities, from the rationale of the investors and issuers who utiltise them to the factors to be considered when such instruments are designed. As well as an extensive review of the world′s inflation–linked debt markets, the authors also provide a series of technical appendices, featuring a consistent set of cash flow and price–yield equations for the largest bond markets. These form an important reference for those already experienced in the field, as well as for practitioners, academic, policy–makers and financial software developers approaching the subject for the first time.
Since 2000, the growth of the inflation–indexed derivatives markets has been dramatic. Inflation–indexed Securities gives unique insight into the development of these derivatve products in the major markets including, for the first time, a detailed description of the analytical tools required to price and hedge such instruments.
