Whenever I browse through the business and finance section of a bookshop, it always seems there's such a large selection of items on one subject that it's difficult to know which one to pick, especially if (as I am) one is new to the subject. This book is great for beginners, or anyone who wants to know more about the subject of bonds. It stands out because it's cheap, but also because the topic coverage is comprehensive and also because (as I found out later) the author actually traded bonds in the market and so brings a different insight to the subject. Highly recommended.
Mr Choudhry has put together an excellent introduction to the subject of bonds. Although no subject is covered to a very great extent, there are excellent introductions to all the major topics. There are also introductory chapters on off-balance sheet instruments and risk management. For UK market readers there is a good chapter on the UK gilt market. All in all an excellent introduction to the subject.
Was given this book to read on the fixed income floor of an investment bank. I have some experience of capital markets but still learnt a lot from this book. I would say that it is a great intro to fixed income products and a must-read primer for anyone interested in or working in the area. The detail and worked examples help it outclass other primers in this area, yet it didn't assume any high level of background knowledge.
This is a very good book. The topics are discussed and explained with academic precision. Recommended for finance professional beginners, certainly not for private investors, as most of the topics treated are of little interest for them. A bit more clarity in some areas would award the fifth star.