Fixed Income Analysis

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The third edition of Fixed Income Analysis—edited by financial experts Barbara S. Petitt, Jerald E. Pinto, Wendy L. Pirie, and a team of knowledgeable contributors from CFA Institute—offers a comprehensive and authoritative resource that includes practical information on the most important issues related to fixed-income analysis.

Fixed Income Analysis has been thoroughly revised and updated to cover a wide range of topics including the fixed-income marketplace, the risks associated with investing in fixed-income securities, and the fundamentals of valuation and interest rate risk. This important resource also examines the valuation of fixed-income securities with embedded options, the features of structured products, and the principles of credit analysis. In addition, Fixed Income Analysis, Third Edition clearly demonstrates how to build the skills needed to managefixed-income portfolios in line with an individual investor's objectives.

Drawing on the resources of the acclaimed CFA Institute, Fixed Income Analysis explains all types of fixed-income securities and defines their main characteristics. Appropriate for both experienced professionals and those new to the field, the text introduces fixed-income valuation in a highly accessible manner. The authors also cover modern techniques of analyzing interest rate risk and explain modern professional practice in evaluating credit risk as well as quantitative methods of credit risk analysis.

The contributors include material on fixed-income securities backed by pools of assets, and the book's arbitrage-free valuation framework explains and illustrates a general structure for valuing fixed-income securities. The information on bonds with embedded options covers the more complex case in which securities include options that the issuer or investor may exercise. The third edition covers a wide range of critical topics necessary for fully understanding fixed-income securities.

This vital guide contains a wealth of example-driven presentations of all the essential topics in order to provide value for self-study, general reference, and classroom use.