Abstract

Bond and Money Markets: Strategy, Trading, Analysis explains and analyses all aspects of the bond and money markets and is both an introduction for newcomers and an advanced text for experienced market practitioners and graduate students. Those with experience of the industry at all levels will find the book invaluable as a standard reference work. The book features coverage of:

• Government and Corporate bonds, Eurobonds, callable bonds, convertibles
• Asset-backed bonds including mortgages and CDOs
• Derivative instruments including bond futures, swaps, options, structured products, and option valuation models
• Interest-rate risk, duration analysis, convexity, and the convexity bias
• The money markets, repo markets, basis trading, and asset / liability management
• Term structure models, estimating and interpreting the yield curve
• Portfolio management, including total return framework, portfolio strategies, and constructing bond indices

and valuable insight into:

• Trading and hedging strategy
• Charting and technical analysis
• The latest market developments, such as value-at-risk, and credit derivatives
• Emerging markets and the benefits of international investment

The Bond and Money Markets: Strategy, Trading, Analysis is aimed at a wide readership including bond salespersons, traders, corporate financiers and graduate trainees, as well as risk managers, operations professionals and business analysts. Other market participants including fund managers, corporate treasurers, management consultants, regulators and financial journalists will also find the content useful.

• This book is virtually a stand alone reference book on interest rate swaps, the money markets, financial market mathematics, interest-rate futures and technical analysis
• Includes some introductory coverage of very specialised topics (for which one requires specialised texts) such as VaR, Asset & liability management, credit derivatives
• Combines accessible style with advanced level topics, plus review of latest research

"Moorad is a master of his subject. He is a rare financial markets author, in being both highly readable and yet still informative to practitioners. The academic will find a lot to admire in this comprehensive and lucid guide. The reader will come to treat this book as his bible."
- David Wileman, CEO, King & Shaxson Bond Brokers Limited, Old Mutual plc.
"Moorad has written an excellent handbook on fixed income markets. It provides a broad ranging practitioner"s guide to all instruments and trading approaches that make fixed income an exciting market."
- Jan Loeys, Global Head of Fixed Income Research, J.P.Morgan & Co.
"The Author writes very lucidly on fixed income issues and combines mathematics and text very effectively. I found the chapters interesting and easy to read."
- Dr Stephen Satchell, Fellow of Trinity College, a Reader in Financial Econometrics at the University of Cambridge, and Visiting Professor at Birkbeck College, City University Business School.
"In the "Bond and Money Markets", Moorad Choudhry has managed to combine the clarity of explanation vital to students of the subject with sufficient content and detail to ensure that even the experienced practitioner will find this book an invaluable asset. To have covered such a complex area so effectively within one reference book is a notable achievement, to have done so with such obvious enthusiasm only adds to the excellence of this work."
- Martin Barber, Partner, Financial Services, KPMG Consulting.
"A fantastic achievement and set to become the premier reference on global debt capital markets. Written in the author"s trademark accessible style, this is a superlative and enthusiastic contribution to the financial economics literature."
- Daniel Shakhani, Global Credit Strategy, Goldman Sachs International.
"After spending a lifetime reading dry prose in capital markets texts, this is like a fresh breeze from an author with knowledge and experience. The conversational style, real worked examples and excellent illustrations make the understanding of complex issues very easy. In my opinion everyone from market professionals to market novices will find something of great value in this book, and most will end up with a well thumbed copy."
- Pantea Rezaifard, Vice President, Corporate and Sovereign Trading, Merrill Lynch.
"The book explains and analyses all aspects of the bond and money markets and is both an introduction for newcomers and an advanced text for experienced market practitioners and graduate students. Those with experience of the industry at all levels will find the book invaluable as a standard reference work."
- Securities & Investment Review, July-Aug 01