Debt Markets and Investments
Published on 16. October 2019
Book
Hardback
832 pages
978-0-19-087743-9 (ISBN)
Description
Debt Markets and Investments provides an overview of the dynamic world of markets, products, valuation, and analysis of fixed income and related securities. Experts in the field, practitioners and academics, offer both diverse and in-depth insights into basic concepts and their application to increasingly intricate and real-world situations. This volume spans the entire spectrum from theoretical to practical, while attempting to offer a useful balance of detailed and user-friendly coverage.
The volume begins with the basics of debt markets and investments, including basic bond terminology and market sectors. Among the topics covered are the relationship between fixed income and other asset classes as well as the differences in fundamental risk. Particular emphasis is given to interest rate risk as well as credit risks as well as those associated with inflation, liquidity, reinvestment, and ESG. Authors then turn to market sectors, including government debt, municipal bonds, the markets for corporate bonds, and developments in securitized debt markets along with derivatives and private debt markets. The third section focuses on models of yield curves, interest rates, and swaps, including opportunities for arbitrage. The next two sections focus on bond and securitized products, from sovereign debt and mutual funds focused on bonds to how securitization has increased liquidity through such innovations as mortgaged-and asset- backed securities, as well as collateralized debt-, bond-, and loan obligations. Authors next discuss various methods of valuation of bonds and securities, including the use of options and derivatives. The volume concludes with discussions of how debt can play a role in financial strategies and portfolio creation.
Readers interested in a broad survey will benefit as will those looking for more in-depth presentations of specific areas within this field of study. In summary, the book provides a fresh look at this intriguing and dynamic but often complex subject.
The volume begins with the basics of debt markets and investments, including basic bond terminology and market sectors. Among the topics covered are the relationship between fixed income and other asset classes as well as the differences in fundamental risk. Particular emphasis is given to interest rate risk as well as credit risks as well as those associated with inflation, liquidity, reinvestment, and ESG. Authors then turn to market sectors, including government debt, municipal bonds, the markets for corporate bonds, and developments in securitized debt markets along with derivatives and private debt markets. The third section focuses on models of yield curves, interest rates, and swaps, including opportunities for arbitrage. The next two sections focus on bond and securitized products, from sovereign debt and mutual funds focused on bonds to how securitization has increased liquidity through such innovations as mortgaged-and asset- backed securities, as well as collateralized debt-, bond-, and loan obligations. Authors next discuss various methods of valuation of bonds and securities, including the use of options and derivatives. The volume concludes with discussions of how debt can play a role in financial strategies and portfolio creation.
Readers interested in a broad survey will benefit as will those looking for more in-depth presentations of specific areas within this field of study. In summary, the book provides a fresh look at this intriguing and dynamic but often complex subject.
Reviews / Votes
For scholars, teachers, students, and investors, Debt Markets and Investments is a comprehensive yet accessible guide to all types of debt securities and the markets in which they trade. I'm already revising lecture notes for my MBA-level investments course to reflect insights from this volume. * Scott Smart, Fettig/Whirlpool Finance Faculty Fellow, Kelley School of Business, Indiana University * This book is very comprehensive in its coverage, making it a great reference-almost any fixed income related topic has its own chapter. The continual incorporation of theory, practical implications, and empirical evidence into the chapters is impressive, and makes the book suitable for novice and expert alike. * Alexander W. Butler, Professor of Finance, Rice University *More details
Series
Language
English
Place of publication
New York
United States
Target group
Professional and scholarly
Dimensions
Height: 240 mm
Width: 161 mm
Thickness: 49 mm
Weight
1397 gr
ISBN-13
978-0-19-087743-9 (9780190877439)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Other editions
Additional editions
H. Kent Baker | Greg Filbeck | Andrew C. Spieler
Debt Markets and Investments
E-Book
08/2019
OUP eBook
€97.99
Available for download
H. Kent Baker | Greg Filbeck | Andrew C. Spieler
Debt Markets and Investments
E-Book
08/2019
OUP eBook
€97.99
Available for download
Persons
H. Kent Baker, CFA, CMA, is a University Professor of Finance in the Kogod School of Business at American University. He is an award-winning author/editor of 31 books and more than 180 refereed articles. Professor Baker holds a BSBA from Georgetown University; M.Ed., MBA, and DBA degrees from the University of Maryland; and an MA, MS, and two PhDs from American University.
Greg Filbeck, CFA, FRM, CAIA, CIPM, and PRM, is a Samuel P. Black III Professor of Finance and Risk Management at Penn State Behrend and serves as the Director for the Black School of Business. Professor Filbeck has authored or edited 10 books and published more than 95 refereed academic journal articles. He received a BS from Murray State University; an MS from Penn State University, and a DBA (finance) from the University of Kentucky.
Andrew C. Spieler, CFA, FRM and CAIA, is a Professor of Finance in the Frank G. Zarb School of Business at Hofstra University. Professor Spieler has authored over 40 scholarly
articles and book chapters. In addition, he has received two "Researcher of the Year" and two "Teacher of the Year" awards. He received a BS from Binghamton University, MBA from Binghamton University, MS from Indiana University and PhD from Binghamton University.
Greg Filbeck, CFA, FRM, CAIA, CIPM, and PRM, is a Samuel P. Black III Professor of Finance and Risk Management at Penn State Behrend and serves as the Director for the Black School of Business. Professor Filbeck has authored or edited 10 books and published more than 95 refereed academic journal articles. He received a BS from Murray State University; an MS from Penn State University, and a DBA (finance) from the University of Kentucky.
Andrew C. Spieler, CFA, FRM and CAIA, is a Professor of Finance in the Frank G. Zarb School of Business at Hofstra University. Professor Spieler has authored over 40 scholarly
articles and book chapters. In addition, he has received two "Researcher of the Year" and two "Teacher of the Year" awards. He received a BS from Binghamton University, MBA from Binghamton University, MS from Indiana University and PhD from Binghamton University.
Content
Table of Contents
Chapter 1: Debt Markets and Investments: An Overview
H. Kent Baker, Greg Filbeck, Andrew C. Spieler
Chapter 2: Debt Fundamentals and Indices
Ryan J. Dodge, Steven T. Petra, Andrew C. Spieler
Chapter 3: Interest Rate Risk, Measurement, and Management
Tom Barkley
Chapter 4: Other Risks Associated with Debt Securities
Randolph D. Nordby
Chapter 5: Government Debt
Keith Pareti, Rob Kennedy
Chapter 6: Municipal Bonds
Xiaohu Deng, Christopher Goebert, Gershon Morgulis, Isaac Yates
Chapter 7: Corporate Bond Markets
Kelly E. Carter
Chapter 8: Securitized Debt Markets
Senay Agca, Saiyid S. Islam
Chapter 9: Derivatives Markets
Halil Kiymaz, Koray D. Simsek
Chapter 10: Short-Term Funding and Financing Alternatives
Benjamin Aguilar, Alit Jain, Kevin Neaves
Chapter 11: Private Debt Markets
Douglas Cumming, Grant Fleming, Zhangxin (Frank) Liu
Chapter 12: Yield Curves, Swap Curves, and Term Structure of Interest Rates
Tom P. Davis, Dmitri Mossessian
Chapter 13: Models of the Yield Curve and Term Structure
Tom P. Davis, Dmitri Mossessian
Chapter 14: International Bonds
Soutonnoma Ouedraogo, David Scofield, Garrett C. Smith
Chapter 15: Floating Rate Notes
Aby Abraham, John Casares, Jibran Ali Shah
Chapter 16: Bonds with Embedded Options
Christopher J. Barnes, Gaurav Gupta, Joseph F. Abinanti
Chapter 17: Bond Mutual Funds, Closed-end Bond Funds, and Exchange-Traded Funds
Halil Kiymaz, Koray D. Simsek
Chapter 18: Other Bond Products: Social Impact Bonds, Death Bonds, Catastrophe Bonds, Green Bonds, and Covered Bonds
Erik Devos, Robert Karpowicz, Andrew C. Spieler
Chapter 19: Inflation-Linked Bonds
John Lettieri, Gerald O'Donnell, Seow-eng Ong, Desmond Tsang
Chapter 20: Securitization Process
Mark Ferguson, Joseph McBride, Kevin Tripp
Chapter 21: Mortgage-Backed Securities
Mingwei Liang, Milena Petrova
Chapter 22: Asset-Backed Securities
Massimo Guidolin, Manuela Pedio
Chapter 23: Collateralized Debt Obligations, Collateralized Bond Obligations, and Collateralized Loan Obligations
Robert Eckrote, Christopher Milliken, Eshan Nikbakht, Andrew C. Spieler
Chapter 24: Factors Affecting Bond Pricing and Valuation
Mark Wu, Xiang Gao, Bob Wieczorek
Chapter 25: Valuing and Analyzing Bond with Embedded Options
Yiying Cheng
Chapter 26: Valuing and Analyzing Mortgage-Backed and Asset-Backed Securities
Matthew Dyer
Chapter 27: Valuing and Analyzing Fixed Income Derivatives
Koray D. Simsek, Halil Kiymaz
Chapter 28: Credit Analysis and Ratings
Peter Dadalt, Michael Gueli, Rafay Khalid, Ling Zhang
Chapter 29: Bond Auctions
Mark Wu, Patrick Herb, Shishir Paudel
Chapter 30: Bond Accounting
Oluwa Seyi Adebayo Awoga
Chapter 31: High Yield Bonds:
Byron C. Barnes, Tony Calenda, Elvis Rodriguez
Chapter 32: Distressed Debt
Seoyoung Kim
Chapter 33: Microstructure of Fixed Income Trading
Matthew John Jerabeck, Marc Perkins, David Petruzzellis
Chapter 34: Debt Investment Strategies
Steven Cosares, Taylor Riggs, Andrew C. Spieler
Chapter 35: Debt Portfolio Management
Zachary Jersky, He Li
Chapter 36: Debt Trends and Future Outlook
Dianna Preece
Chapter 1: Debt Markets and Investments: An Overview
H. Kent Baker, Greg Filbeck, Andrew C. Spieler
Chapter 2: Debt Fundamentals and Indices
Ryan J. Dodge, Steven T. Petra, Andrew C. Spieler
Chapter 3: Interest Rate Risk, Measurement, and Management
Tom Barkley
Chapter 4: Other Risks Associated with Debt Securities
Randolph D. Nordby
Chapter 5: Government Debt
Keith Pareti, Rob Kennedy
Chapter 6: Municipal Bonds
Xiaohu Deng, Christopher Goebert, Gershon Morgulis, Isaac Yates
Chapter 7: Corporate Bond Markets
Kelly E. Carter
Chapter 8: Securitized Debt Markets
Senay Agca, Saiyid S. Islam
Chapter 9: Derivatives Markets
Halil Kiymaz, Koray D. Simsek
Chapter 10: Short-Term Funding and Financing Alternatives
Benjamin Aguilar, Alit Jain, Kevin Neaves
Chapter 11: Private Debt Markets
Douglas Cumming, Grant Fleming, Zhangxin (Frank) Liu
Chapter 12: Yield Curves, Swap Curves, and Term Structure of Interest Rates
Tom P. Davis, Dmitri Mossessian
Chapter 13: Models of the Yield Curve and Term Structure
Tom P. Davis, Dmitri Mossessian
Chapter 14: International Bonds
Soutonnoma Ouedraogo, David Scofield, Garrett C. Smith
Chapter 15: Floating Rate Notes
Aby Abraham, John Casares, Jibran Ali Shah
Chapter 16: Bonds with Embedded Options
Christopher J. Barnes, Gaurav Gupta, Joseph F. Abinanti
Chapter 17: Bond Mutual Funds, Closed-end Bond Funds, and Exchange-Traded Funds
Halil Kiymaz, Koray D. Simsek
Chapter 18: Other Bond Products: Social Impact Bonds, Death Bonds, Catastrophe Bonds, Green Bonds, and Covered Bonds
Erik Devos, Robert Karpowicz, Andrew C. Spieler
Chapter 19: Inflation-Linked Bonds
John Lettieri, Gerald O'Donnell, Seow-eng Ong, Desmond Tsang
Chapter 20: Securitization Process
Mark Ferguson, Joseph McBride, Kevin Tripp
Chapter 21: Mortgage-Backed Securities
Mingwei Liang, Milena Petrova
Chapter 22: Asset-Backed Securities
Massimo Guidolin, Manuela Pedio
Chapter 23: Collateralized Debt Obligations, Collateralized Bond Obligations, and Collateralized Loan Obligations
Robert Eckrote, Christopher Milliken, Eshan Nikbakht, Andrew C. Spieler
Chapter 24: Factors Affecting Bond Pricing and Valuation
Mark Wu, Xiang Gao, Bob Wieczorek
Chapter 25: Valuing and Analyzing Bond with Embedded Options
Yiying Cheng
Chapter 26: Valuing and Analyzing Mortgage-Backed and Asset-Backed Securities
Matthew Dyer
Chapter 27: Valuing and Analyzing Fixed Income Derivatives
Koray D. Simsek, Halil Kiymaz
Chapter 28: Credit Analysis and Ratings
Peter Dadalt, Michael Gueli, Rafay Khalid, Ling Zhang
Chapter 29: Bond Auctions
Mark Wu, Patrick Herb, Shishir Paudel
Chapter 30: Bond Accounting
Oluwa Seyi Adebayo Awoga
Chapter 31: High Yield Bonds:
Byron C. Barnes, Tony Calenda, Elvis Rodriguez
Chapter 32: Distressed Debt
Seoyoung Kim
Chapter 33: Microstructure of Fixed Income Trading
Matthew John Jerabeck, Marc Perkins, David Petruzzellis
Chapter 34: Debt Investment Strategies
Steven Cosares, Taylor Riggs, Andrew C. Spieler
Chapter 35: Debt Portfolio Management
Zachary Jersky, He Li
Chapter 36: Debt Trends and Future Outlook
Dianna Preece