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on 5 March 2013
I was looking for a textbook for an MSc Fixed Income Securities course and came across this position. When it arrived I knew immediately that this is what I was looking for.
In my opinion this is the best textbook for Fixed Income at this level on the market. The author takes you from the basics to somewhat more advanced topics with incredibly smooth transition. It is logically divided in three parts. The first two parts can be taught at the undergraduate level (although here as well some topics are appropriate for Masters level), and parts two and three are taking you through some more advanced term structure modelling topics. Everything, from start to end, is very clear and easy to follow. The author concentrates rather on No Arbitrage models. Personally I would be rather interested in equilibrium models, but I understand that the book is addressed to students who are supposed to find a job in business, and as such they will probably work with No Arbitrage models, like HJM or Libor. Also, recently (at least among academics) the macro models are gaining lots of popularity, but they are missing from the book too. I guess that you can't have everything.
Since this is the first edition, some typos could be expected, but an astute reader can easily spot them. I REALLY hope that the second edition without typos and with updated data will come out soon.
All in all, I found this book extremely useful for the MSc course. Thank you, Pietro!
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on 19 March 2014
It is exactly what I needed. It was recommended by my teacher, and I agree with him. Very good book
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on 23 May 2011
This does not intend to be a complete review of this work.
The book is well written and it certainly covers the basics of fixed-income securities. Nevertheless, if you are a mathematician (as I am) and you like complete proofs (particularly when the results are not evident) this is not the textbook you're looking for. It is structured on the basis of "facts" and then proceeds to illustrate them with examples. But if you just need a quick reference this is a good one.
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on 24 August 2014
all good
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