The Management of Bond Investments and Trading of DebtWritten for managers and professionals in business and industry, and using a minimum of mathematical language, The Management of Bond Investments and the Trading of Debt addresses three key issues:
Financial expert Dimitris Chorafas discusses these issues in straightforward language for managers and professionals in commercial banks, securities houses, financial services companies, merchandising firms, manufacturing companies, and consulting firms, placing the mathematical treatment of the issues in the appendices, available for study but not necessary for understanding the business issues addressed in the book. |
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Contents
47 | |
Interest rates yields and duration | 143 |
Bonds bond markets credit rating and risk control | 241 |
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The Management of Bond Investments and Trading of Debt Dimitris N. Chorafas No preview available - 2005 |
Common terms and phrases
accounting aftermath algorithm analysis assets bank’s bankruptcy Basel II basis points billion bond market bond prices bond’s bondholders borrowers callable bonds capital market cash flow central bank changes Chapter companies company’s computation convexity corporate bonds cost counterparty countries coupon credit institutions credit rating credit risk creditworthiness currency D.N. Chorafas debt instruments default derivatives Deutsche Bundesbank discount economy effect entity equity euro Euroland example exchange expected exposure factors Figure financial instruments financial markets fixed income global government bonds growth hedge funds increase industry inflation instance interest rate risk internal investment investors issuer issues junk bonds lending leverage liabilities liquidity loans long-term market risk maturity monetary money market Moreover mortgages options payments portfolio premium profits rating agencies real interest rates rise risk control risk management sector securities securitization short-term statistics trading Treasury volatility yield curve yield to maturity zero-coupon
Popular passages
Page 43 - To continue much longer overwhelmed by business cares and with most of my thoughts wholly upon the way to make more money in the shortest time, must degrade me beyond hope of permanent recovery.
Page 121 - The cost of debt, and • The cost of equity. The cost of debt can be determined through the firm's current borrowing rate and interest rate mix.
Page 38 - If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle.
Page 65 - It is, however, an evil for which there is no remedy: our liberty depends on the freedom of the press and that cannot be limited without being lost.
Page xiv - My debts go to a long list of knowledgeable people and their organizations, who contributed to the research which led to this text.
Page 305 - I am becoming sick and tired about lying about the extent of our reserves issues, and the downward revisions that have to be done because of far too aggressive, optimistic bookings” (Guardian Weekly, April 22, 2004).
Page 43 - Man must have an idol— the amassing of wealth is one of the worst species of idolatry— no idol more debasing than the worship of money.
Page 128 - SCBs — the Agricultural Bank of China, the Bank of China, the China Construction Bank, and the...