9780470052211

Fixed Income Analysis

Fabozzi, Frank J.

ISBN 10: 047005221X / 0-470-05221-X
ISBN 13: 9780470052211
Publisher: Wiley
Publication Date: 2007
Binding: Hardcover
Editorial Reviews for this title:
Synopsis:
In the Second Edition of Fixed Income Analysis, financial expert Frank Fabozzi and a team of knowledgeable contributors provide complete coverage of the most important issues in fixed income analysis.

Now, in Fixed Income Analysis Workbook, Second Edition, Fabozzi offers you a wealth of practical information and exercises that will solidify your understanding of the tools and techniques associated with this discipline. This comprehensive study guide--which parallels the main book chapter by chapter--contains challenging problems and a complete set of solutions as well as concise learning outcome statements and summary overviews.

If you want to make the most of your time in the fixed income marketplace, the lessons within this workbook can show you how. Topics reviewed include:

  • The risks associated with investing in fixed income securities
  • The fundamentals of valuation and interest rate risk
  • The features of structured products--such as mortgage-backed securities and asset-backed securities
  • The principles of credit analysis
  • The valuation of fixed income securities with embedded options

Review:
As part of the CFA Institute Investment Series, the Second Edition of Fixed Income Analysis has been designed for a wide range of readers, from graduate-level students focused on finance to practicing investment professionals. This book, valuable for self-study as well as for general reference, provides complete coverage of the most important issues in fixed income analysis.

In this fully revised edition, fixed income expert Frank Fabozzi—along with a number of experienced contributors—skillfully covers the fixed income marketplace, the risks associated with investing in fixed income securities, and the fundamentals of valuation and interest rate risk. This book also examines the valuation of fixed income securities with embedded options, the features of structured products (such as mortgage-backed securities and asset-backed securities), and the principles of credit analysis. Rounding out the discussion, Fixed Income Analysis, Second Edition demonstrates how to construct a portfolio that is in line with your investment objectives.

And to further enhance your understanding of the tools and techniques explored here, don't forget to pick up the Fixed Income Analysis Workbook, Second Edition —a comprehensive companion study guide containing Learning Outcomes and Summary Overview sections, along with challenging practice questions and solutions.

Straightforward and accessible, Fixed Income Analysis, Second Edition provides the even treatment of subject matter, consistency of mathematical notation, and continuity of topic coverage so critical to the learning process. Filled with in-depth insights and expert advice, this practical guide offers a detailed look at how fixed income analysis can be understood and applied to today's investment process.

From the Inside Flap

Review:
"Fabozzi has a gift for making the complex comprehensible. He cuts through the jargon and mathematics to explain the fixed income market in a splendidly logical and intuitive manner."
Martin Fridson, CFA, CEO, FridsonVision LLC

"This is the finest and most comprehensive treatment of the global debt markets in a single volume ever published. This compelling book should be a mandatory read, not only for aspiring CFA charterholders, but by all professional members of the global bond community."
Jack Malvey, CFA, Chief Global Fixed Income Strategist, Lehman Brothers

"In the field of fixed income analysis, Dr. Fabozzi has honed his authoring and editing skills over many years. This encyclopedic volume is likely to become the 'go to' reference for many fixed income investment professionals."
Bill Nemerever, CFA, Partner, Grantham, Mayo Van Otterloo & Co. LLC

"A tour de force by a giant in our business"
Paul McCulley, Managing Director and Portfolio Manager, PIMCO

From the Back Cover

Editorial reviews may belong to another edition of this title.
 

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Fabozzi, Frank J.
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Fabozzi, Frank J.
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Book Description: Wiley, 2007. Book Condition: New. Brand New, Unread Copy in Perfect Condition. A+ Customer Service! Summary: Foreword. Acknowledgments. Introduction. Note on Rounding Differences. CHAPTER 1: Features of Debt Securities. I. Introduction. II. Indenture and Covenants. III. Maturity. IV. Par Value. V. Coupon Rate. VI. Provisions for Paying Off Bonds. VII. Conversion Privilege. VIII. Put Provision. IX. Currency Denomination. X. Embedded Options. XI. Borrowing Funds to Purchase Bonds. CHAPTER 2: Risks Associated with Investing in Bonds. I. Introduction. II. Interest Rate Risk. III. Yield Curve Risk. IV. Call and Prepayment Risk. V. Reinvestment Risk. VI. Credit Risk. VII. Liquidity Risk. VIII. Exchange Rate or Currency Risk. IX. Inflation or Purchasing Power Risk. X. Volatility Risk. XI. Event Risk. XII. Sovereign Risk. CHAPTER 3: Overview of Bond Sectors and Instruments. I. Introduction. II. Sectors of the Bond Market. III. Sovereign Bonds. IV. Semi-Government/Agency Bonds. V. State and Local Governments. VI. Corporate Debt Securities. VII. Asset-Backed Securities. VIII. Collateralized Debt Obligations. IX. Primary Market and Secondary Market for Bonds. CHAPTER 4: Understanding Yield Spreads. I. Introduction. II. Interest Rate Determination. III. U.S. Treasury Rates. IV. Yields on Non-Treasury Securities. V. Non-U.S. Interest Rates. VI. Swap Spreads. CHAPTER 5: Introduction to the Valuation of Debt Securities. I. Introduction. II. General Principles of Valuation. III. Traditional Approach to Valuation. IV. The Arbitrage-Free Valuation Approach. V. Valuation Models. CHAPTER 6: Yield Measures, Spot Rates, and Forward Rates. I. Introduction. II. Sources of Return. III. Traditional Yield Measures. IV. Theoretical Spot Rates. V. Forward Rates. CHAPTER 7: Introduction to the Measurement of Interest Rate Risk. I. Introduction. II. The Full Valuation Approach. III. Price Volatility Characteristics of Bonds. IV. Duration. V. Convexity Adjustment. VI. Price Value of a Basis Point. VII. The Importance of Yield Volatility. CHAPTER 8: Term Structure and Volatility of Interest Rates. I. Introduction. II. Historical Look at the Treasury Yield Curve. III. Treasury Returns Resulting from Yield Curve Movements. IV. Constructing the Theoretical Spot Rate Curve for Treasuries. V. The Swap Curve (LIBOR Curve). VI. Expectations Theories of the Term Structure of Interest Rates. VII. Measuring Yield Curve Risk. VIII. Yield Volatility and Measurement. CHAPTER 9: Valuing Bonds with Embedded Options. I. Introduction. II. Elements of a Bond Valuation Model. III. Overview of the Bond Valuation Process. IV. Review of How to Value an Option-Free Bond. V. Valuing a Bond with an Embedded Option Using the Binomial Model. VI. Valuing and Analyzing a Callable Bond. VII. Valuing a Putable Bond. VIII. Valuing a Step-Up Callable Note. IX. Valuing a Capped Floater. X. Analysis of Convertible Bonds. CHAPTER 10: Mortgage-Backed Sector of the Bond Market. I. Introduction. II. Residential Mortgage Loans. III. Mortgage Passthrough Securities. IV. Collateralized Mortgage Obligations. V. Stripped Mortgage-Backed Securities. VI. Nonagency Residential Mortgage-Backed Securities. VII. Commercial Mortgage-Backed Securities. CHAPTER 11: Asset-Backed Sec. Bookseller Inventory # ABE_book_new_047005221X

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Book Description: John Wiley and Sons Ltd. Hardback. Book Condition: new. BRAND NEW, Fixed Income Analysis (2nd Revised edition), Frank J. Fabozzi, Martin L. Leibowitz, In the Second Edition of Fixed Income Analysis, financial expert Frank Fabozzi and a team of knowledgeable contributors provide complete coverage of the most important issues in fixed income analysis. Now, in Fixed Income Analysis Workbook, Second Edition, Fabozzi offers you a wealth of practical information and exercises that will solidify your understanding of the tools and techniques associated with this discipline. This comprehensive study guide--which parallels the main book chapter by chapter--contains challenging problems and a complete set of solutions as well as concise learning outcome statements and summary overviews. If you want to make the most of your time in the fixed income marketplace, the lessons within this workbook can show you how. Topics reviewed include:* The risks associated with investing in fixed income securities* The fundamentals of valuation and interest rate risk* The features of structured products--such as mortgage-backed securities and asset-backed securities* The principles of credit analysis* The valuation of fixed income securities with embedded options. Bookseller Inventory # B9780470052211

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Book Description: John Wiley and Sons Ltd, United Kingdom, 2007. Hardback. Book Condition: New. 2nd Revised edition. 256 x 192 mm. Language: English Brand New Book. In the Second Edition of Fixed Income Analysis, financial expert Frank Fabozzi and a team of knowledgeable contributors provide complete coverage of the most important issues in fixed income analysis. Now, in Fixed Income Analysis Workbook, Second Edition, Fabozzi offers you a wealth of practical information and exercises that will solidify your understanding of the tools and techniques associated with this discipline. This comprehensive study guide--which parallels the main book chapter by chapter--contains challenging problems and a complete set of solutions as well as concise learning outcome statements and summary overviews. If you want to make the most of your time in the fixed income marketplace, the lessons within this workbook can show you how. Topics reviewed include:* The risks associated with investing in fixed income securities* The fundamentals of valuation and interest rate risk* The features of structured products--such as mortgage-backed securities and asset-backed securities* The principles of credit analysis* The valuation of fixed income securities with embedded options. Bookseller Inventory # ALB9780470052211

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Book Description: John Wiley and Sons Ltd, United Kingdom, 2007. Hardback. Book Condition: New. 2nd Revised edition. 256 x 192 mm. Language: English Brand New Book. In the Second Edition of Fixed Income Analysis, financial expert Frank Fabozzi and a team of knowledgeable contributors provide complete coverage of the most important issues in fixed income analysis. Now, in Fixed Income Analysis Workbook, Second Edition, Fabozzi offers you a wealth of practical information and exercises that will solidify your understanding of the tools and techniques associated with this discipline. This comprehensive study guide--which parallels the main book chapter by chapter--contains challenging problems and a complete set of solutions as well as concise learning outcome statements and summary overviews. If you want to make the most of your time in the fixed income marketplace, the lessons within this workbook can show you how. Topics reviewed include:* The risks associated with investing in fixed income securities* The fundamentals of valuation and interest rate risk* The features of structured products--such as mortgage-backed securities and asset-backed securities* The principles of credit analysis* The valuation of fixed income securities with embedded options. Bookseller Inventory # ALB9780470052211

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