**The updated edition of a widely used textbook that covers fundamental
features of bonds, analytical techniques, and portfolio strategy.
**
This new edition of a widely used textbook covers types of bonds and
their key features, analytical techniques for valuing bonds and
quantifying their exposure to changes in interest rates, and portfolio
strategies for achieving a client's objectives. It includes real-world
examples and practical applications of principles as provided by
third-party commercial vendors. This tenth edition has been
substantially updated, with two new chapters covering the theory and
history of interest rates and the issues associated with bond trading.
Although all chapters have been updated, particularly those covering
structured products, the chapters on international bonds and managing a
corporate bond portfolio have been completely revised.
The book covers the basic analytical framework necessary to understand
the pricing of bonds and their investment characteristics; sectors of
the debt market, including Treasury securities, corporate bonds,
municipal bonds, and structured products (residential and commercial
mortgage-backed securities and asset-backed securities); collective
investment vehicles; methodologies for valuing bonds and derivatives;
corporate bond credit risk; portfolio management, including the
fundamental and quantitative approaches; and instruments that can be
used to control portfolio risk.
