Fixed-Income Synthetic Assets: Packaging, Pricing, and Trading Strategies for Financial Professionals

The comprehensive guide to creating, valuing, and trading today'smost innovative fixed-income securities . Financial marketsworldwide are being flooded with a wealth of innovative andincreasingly complex securities. Now, more than ever, fixed-incomeprofessionals must understand how these synthetic instruments arestructured and traded, and how to profitably integrate them into anoverall financial strategy. Fixed-Income Synthetic Assets suppliesthis crucial working knowledge. This results-driven primer deliversthe proven tools and techniques for packaging, pricing, and tradingthese innovative products. From A-tranche CMOs to Zero couponbonds, this unique sourcebook guides both the novice and theprofessional through the full range of innovative syntheticstructures and their manifold uses. It's packed with easy-to-useformulas and charts, as well as clear, step-by-step discussions offinancial theory that promote clear understanding of the mostcomplex fixed-income financial engineering strategies andpractices. This timely sourcebook is designed to help traders,arbitrageurs, speculators, and financial executives profit from thefinancial markets of today, and successfully prepare for theopportunities of tomorrow. "Perry H. Beaumont offers a logical,well organized book filled with examples. His step-by-stepexplanations make it easy to decipher some of today's mostsophisticated financial instruments." --Ira G. Kawaller VicePresident, Director of New York Office, Chicago Mercantile Exchange"Fixed-Income Synthetic Assets is a practical guide tostate-of-the-art financial practice. An excellent tool for thefinancial manager trading in the markets and applying the latestfinancial techniques." --David Robison Vice President &Treasurer Chrysler Financial Corporation

About the author PERRY H. BEAUMONT is Senior Vice-President atLehman Brothers, where he specializes in strategy for all cash andderivative government securities including agencies. Prior tojoining Lehman, Perry was Director for Risk Management, NorthAmerica at Swiss Bank Corporation, and was previously Manager ofFinancial Futures research at Kidder, Peabody & Co. He holds adoctorate in economics from the University of Illinois atUrbana-Champaign, and is an adjunct professor at Fordham Universityin New York City.