Frank J Fabozzi - The Handbook of Fixed Income Securities, 8th Edition (Retail) (pdf).pdf

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Features
New Tools
for Analyzing,
Valuing,
and
Managing
Fixed
Income
Instruments
THE
HANDBOOK
OF
FIXED
INCOME
SECURITIES
EIGHTH
EDITION
EDITED
BY
Frank
J.
Fabozzi
PROFESSOR
OF
FINANCE.
EDHEC
BUSINESS
SCHOOL
WITH
STEVEN
V.
MANN
THE
HANDBOOK
OF
FIXED
INCOME
SECURITIES
Eighth Edition
FRANK J. FABOZZI, PH.D., CFA, CPA
Editor
With the assistance of
STEVEN V. MANN, Ph.D.
Mc
Graw
Hill
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ISBN: 978-0-07-176847-4
MH1D: 0-07-176847-5
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CONTENTS
©
Preface
xxiii
xxvi
Acknowledgments
Contributors
xxvii
PART ONE
BACKGROUND
Chapter 1
Overview of the Types and Features of Fixed Income Securities
Frank J. Fabozzi, Michael G. Ferri, and Steven V. Mann
Bonds
3
15
16
17
3
Preferred Stock
Residential Mortgage-Backed Securities
Commercial Mortgage-Backed Securities
Asset-Backed Securities
Covered Bonds
Key Points
18
18
17
Chapter 2
Risks Associated with Investing in Fixed Income Securities
Ravi F Dattatreya, Frank J. Fabozzi, and Sergio M. Focardi
Interest-Rate Risk
Reinvestment Risk
22
23
24
21
Call/Prepayment Risk
Credit Risk
25
Inflation, or Purchasing-Power, Risk
Liquidity Risk
27
27
Exchange-Rate, or Currency, Risk
Volatility Risk
29
29
28
Political or Legal Risk
Hi
iv
Contents
Event Risk
Sector Risk
Other Risks
30
30
30
Statistical Measures of Portfolio Risk:
Standard Deviation, Skewness, and Kurtosis
Tracking Error Risk
Key Points
32
31
30
Chapter 3
Bond Market Indexes
33
Frank K. Reilly and David J. Wright
Uses of Bond Indexes
33
35
36
Building and Maintaining a Bond Index
Description of Alternative Bond Indexes
Risk/Return Characteristics
Correlation Relationships
Key Points
48
40
45
Chapter 4
Electronic Trading for Fixed Income Markets
Marshall Nicholson
Overall Bond Market Growth
The Rise of Electronic Trading
51
52
55
51
The Impact of Regulatory Requirements
Shift to a Fee-Based Broker-Dealer Revenue Model
Universe of Electronic Trading Platforms
Current Technologies
59
57
56
Market Data and the Aggregation of Fixed Income ECNs
Retail-Fixed Income Market Participation
Retail Access to Individual Bonds
Fixed Income Pricing
Key Points
67
66
63
62
61
Chapter 5
Macro-Economic Dynamics and the Corporate Bond Market
Steven I. Dym
The Macro-Economy
Corporate Profits
Interest Rates
73
74
75
73
69
69
The Central Bank
Important Considerations
The Yield Curve
The Spread Curve
77
80

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