The handbook of fixed income securities:
This updated and revised edition of editor Frank J. Fabozzi's classic resource includes the most current information available about fixed income securities, how to evaluate this information and how it can be used to enhance returns. In particular, there is updated and expanded coverage on bond...
Gespeichert in:
| Format: | Buch |
|---|---|
| Sprache: | English |
| Veröffentlicht: |
Chicago [u.a.]
Irwin
1997
|
| Ausgabe: | 5. ed. |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Zusammenfassung: | This updated and revised edition of editor Frank J. Fabozzi's classic resource includes the most current information available about fixed income securities, how to evaluate this information and how it can be used to enhance returns. In particular, there is updated and expanded coverage on bond market indexes, the high-yield bond market, international bond markets and instruments, brady bonds, standard & poor's sovereign ratings criteria, high-yield analysis of emerging markets debt, mortgages and overview of mortgage-backed securities, collateralized mortgage obligations, nonagency CMOs, commercial mortgage-backed securities, auto-loan-backed securities, home equity loans (HELs) and HEL-backed securities, manufactured housing-backed ABS, credit card ABS, evaluating amortizing ABS: a primer on static spread, global corporate bond portfolio management, and international bond investing and portfolio management. |
| Beschreibung: | XXX, 1339 S. graph. Darst. |
| ISBN: | 0786310952 |
Internformat
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| 520 | 3 | |a This updated and revised edition of editor Frank J. Fabozzi's classic resource includes the most current information available about fixed income securities, how to evaluate this information and how it can be used to enhance returns. In particular, there is updated and expanded coverage on bond market indexes, the high-yield bond market, international bond markets and instruments, brady bonds, standard & poor's sovereign ratings criteria, high-yield analysis of emerging markets debt, mortgages and overview of mortgage-backed securities, collateralized mortgage obligations, nonagency CMOs, commercial mortgage-backed securities, auto-loan-backed securities, home equity loans (HELs) and HEL-backed securities, manufactured housing-backed ABS, credit card ABS, evaluating amortizing ABS: a primer on static spread, global corporate bond portfolio management, and international bond investing and portfolio management. | |
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Datensatz im Suchindex
| _version_ | 1804125801475473408 |
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| adam_text | CONTENTS PART 1
BACKGROUND 1
Chapter 1
Overview of the Types and Features of Fixed Income
Securities 3
Frank J. Fabozzi and Michael G. Ferri
Bonds 3
Preferred Stock 13
Mortgage Backed Securities 14
Asset Backed Securities 17
Summary 17
Chapter 2
Risks Associated with Investing in Fixed Income Securities 18
Ravi E. Dattatreya and Frank J. Fabozzi
Market or Interest Rate Risk 19
Reinvestment Risk 19
Timing or Call Risk 20
Credit Risk or Default Risk 21
Yield Curve or Maturity Risk 21
Inflation or Purchasing Power Risk 22
Marketability or Liquidity Risk 22
Exchange Rate or Currency Risk 22
Volatility Risk 22
Political or Legal Risk 23
Event Risk 23
Sector Risk 24
xiii
xiv Contents
Other Risks 24
Summary 24
Chapter 3 A Review of the Time Value of Money 25
Frank J. Fabozzi
Future Value 25
Present Value 33
Yield (Internal Rate of Return) 40
Summary 44
Chapter 4
Bond Pricing and Return Measures 45
Frank J. Fabozzi
Bond Pricing 45
Conventional Yield Measures 58
Total Return Analysis 69
Summary 76
Chapter 5
Price Volatility Characteristics of Fixed Income Securities 77
Frank J. Fabozzi, Mark Pitts, and Ravi E. Dattatreya
Price/Yield Relationship for Option Free Bonds 77
Bond Price Volatility 78
Measures of Bond Price Volatility 82
Convexity 90
Limitations of Duration 95
Approximating Duration and Convexity for Any Bond 102
Effective Duration and Effective Convexity 104
Summary 105
Chapter 6
The Structure of Interest Rates 106
Frank J. Fabozzi
The Base Interest Rate 106
Risk Premium 107
The Term Structure of Interest Rates 111
Summary 128
Contents xv
Chapter 7
Bond Market Indexes 129
Frank K. Reilly and David J. Wright
Uses of Bond Indexes 130
Building and Maintaining a Bond Index 131
Description of Alternative Bond Indexes 132
Risk/Return Characteristics 136
Correlation Relationships 139
Conclusion 145
PART 2
GOVERNMENT AND PRIVATE DEBT OBLIGATIONS 147
Chapter 8
Treasury and Agency Securities 149
Frank J. Fabozzi
Treasury Securities 149
Federal Agency Securities 156
Summary 160
Chapter 9
Municipal Bonds 161
Sylvan G. Feldstein and Frank J. Fabozzi
Features of Municipal Securities 162
Types of Municipal Obligations 164
The Commercial Credit Rating of Municipal Bonds 172
Municipal Bond Insurance 180
Equivalent Taxable Yield 181
Tax Provisions Affecting Municipals 182
Yield Relationships within the Municipal Bond Market 184
Primary and Secondary Markets 186
Regulation of the Municipal Securities Market 187
Chapter 10
Private Money Market Instruments 190
Frank J. Fabozzi
Commercial Paper 190
Bankers Acceptances 193
XVI Contents
Large Denomination Negotiable CDs 196
Repurchase Agreements 198
Federal Funds 203
Summary 204
Chapter 11
Corporate Bonds 206
Frank J. Fabozzi, Richard S. Wilson, and John C. Ritchie, Jr.
The Corporate Trustee 207
Some Bond Fundamentals 208
Security for Bonds 212
Provisions for Paying Off Bonds 218
Sources of Information about Corporate Bond Offerings 224
Corporate Bond Ratings 225
Event Risk 225
The Bond Markets 229
Differences in the Quality of Marketability 231
Risk and Return in the Corporate Bond Market 233
Chapter 12
Medium Term Notes 234
LelandE. Crabbe
Background of the MTN Market 236
Mechanics of the Market 237
The Economics of MTNs and Corporate Bonds 239
The Federal Reserve Board s Survey of U.S. Corporate MTNs 242
Recent Developments in the MTN Market 247
Euro MTNs 250
Outlook for the MTN Market 252
Chapter 13
Domestic Floating Rate and Adjustable Rate Debt Securities 254
RichardS. Wilson
Classification of Floating Rate Debt Instruments and Summary of Terms 254
Historical Overview 255
Background of the Issues 256
Coupon Characteristics 257
Looking at Yields—Evaluation Methods 260
Market Comment 261
Contents xvii
Chapter 14
Nonconvertible Preferred Stock 263
RichardS. Wilson
The Essential Nature of Preferred Stocks 263
Profile of the Preferred Stock Market 263
Preferred Stock Ratings 267
The Terms of the Bargain with Investors 267
Multiple Issues of One Class of Preferred 279
Taxability of Preferred Stock Dividends 280
The Market for Preferreds 284
Sources of Information about Preferred Stocks 285
Summary 285
Chapter 15
Convertible Securities 287
John C. Ritchie, Jr.
General Characteristics of Convertibles 288
Advantages and Disadvantages to Issuing Firms 290
Advantages to the Investor 292
Disadvantages to the Investor 293
Alternative Forms of Convertible Financing 293
Types of Convertible Investors 295
Analysis of Convertible Securities 295
Valuation of Convertibles 302
Summary 304
Chapter 16
The High Yield Bond Market 307
Joseph V.Amato
Introduction 307
Types of Securities 307
Market Overview 312
Historical Return Experience 319
Chapter 17
International Bond Markets and Instruments 327
Christopher B. Steward and Adam M. Greshin
Introduction 327
Contents
The Instruments: Euro, Foreign, and Global 328
U.S. Pay International Bonds 329
Foreign Pay International Bonds 338
Conclusion 345
Chapter 18
Brady Bonds 346
Jane S. Brauer
Types of Brady Bonds 346
Chapter 19
Stable Value Investments 353
Kenneth L Walker
Types of Contracts and Strategies 353
New Stable Value Investment Contracts 358
Types of SICs 360
Emerging Alternatives: Derivative Based Transactions 363
Investment Considerations 364
Summary 365
Appendix
Method 1—Internal Rate of Return 365
Method 2—Discount Rate, Which Equates Current Book Value to Theoretical Future
Value 366
Method 3—Difference between Market Value and Book Value Divided by Duration 367
PART 3
CREDIT ANALYSIS 369
Chapter 20
Credit Analysis for Corporate Bonds 371
Jane Tripp Howe
Industry Considerations 372
Financial Analysis 377
Indenture Provisions 387
Utilities 392
Finance Companies 398
Contents xix
The Rating Agencies and Brokerage Houses 403
Conclusion 404
Chapter 21
Credit Considerations in Evaluating High Yield Bonds 405
Jane Tripp Howe
Introduction 405
Special Types of High Yield Securities 410
Performance of High Yield Securities and Default Risk 412
Brokerage Houses and the Rating Agencies 413
Conclusion 413
Chapter 22
Investing in Chapter 11 and Other Distressed Companies 414
Jane Tripp Howe
The Importance of a Basic Understanding 415
Overview of B ankruptcy 415
Analysis of Companies in Reorganization 422
Obtaining Financial Information 423
Conclusion 433
Chapter 23
Guidelines in the Credit Analysis of General Obligation and Revenue
Municipal Bonds 434
Sylvan G. Feldstein
Introduction 434
The Legal Opinion 435
The Need to Know Who Really Is the Issuer 440
On the Financial Advisor and Underwriter 441
General Credit Indicators and Economic Factors in the Credit Analysis 442
Red Flags for the Investor 458
Chapter 24
Standard Poor s Sovereign Ratings Criteria 460
David T. Beers
Sovereign Rating Ceiling 463
Local Currency Debt Rating Factors 466
^ Contents
Inflation and Public Debt 467
Foreign Currency Debt Rating Factors 468
Balance of Payments 469
External Financial Position 470
Economic and Political Prospects 471
Local and Foreign Currency Rating Distinctions 472
Chapter 25
High Yield Analysis of Emerging Markets Debt 473
Allen A. Vine
Introduction 473
Background on Emerging Markets 474
The Value Triangle 476
Analysis of Cross Border Risk 477
Limitations of Sovereign Analysis 485
Analysis of Capital Formation/Technical Conditions 486
Issues of Fundamental Risk 489
Fundamental Valuation 492
Financial Disclosure, Contracts, and Bankruptcy 494
Summary 495
Appendix: Framework for Analysis 496
PART 4
MORTGAGE BACKED AND ASSET BACKED SECURITIES 499
Chapter 26
Mortgages and Overview of Mortgage Backed Securities 501
Frank J. Fabozzi and Chuck Ramsey
Participants in the Mortgage Market 502
Alternative Mortgage Instruments 504
Prepayment Risk 512
Default Risk 513
Overview of Mortgage Backed Securities 516
Chapter 27
Mortgage Pass Through Securities 524
LakhbirS. Hay re, Cyrus Mohebbi, and Thomas A. Zimmerman
Introduction 524
Overview of the Market 526
Contents xxi
Prepayment and Cash Flow Behavior 531
Measures of Pass Through Life 539
Price and Yield Behavior 544
Duration and Convexity 551
Total Holding Period Returns 557
Summary 562
Appendix: Mortgage Mathematics 563
Mortgage Cash Flow without Prepayments 563
Prepayment Measuring Conventions 564
Mortgage Cash Flow with Prepayments 566
Average Life 567
Macaulay Duration 567
Cash How Yield 567
Bond Equivalent Yield 568
Total Return 568
Modified Duration 568
Chapter 28
Collateralized Mortgage Obligations 569
Chris Ames
Introduction 569
Pass Throughs and Whole Loans: The Building Blocks of CMOs 572
CMO Structures 574
PAC Band Drift 588
CMO Structuring Example 589
Regulatory Developments Affecting CMOs 591
Evaluating CMOs 593
The CMO/Collateral Pricing Relationship 594
CMO Trading and Clearing 596
Conclusion 597
Chapter 29
Nonagency CMOs 598
Frank J. Fabozzi, David Yuen, Chuck Ramsey, and Frank R. Ramirez
Credit Enhancements 598
Compensating Interest 603
Weighted Average Coupon Dispersion 604
Clean Up Call Provisions 605
Assessing Prepayment Rates of Whole Loan CMOs 606
PSA Standard Default Assumption Benchmark 607
xxii Contents
Chapter 30 Commercial Mortgage Backed Securities 609
John N. Dunlevy
Introduction 609
Basic CMBS Structure 609
Different Types of CMBS Deals 617
Summary 624
Chapter 31
Auto Loan Backed Securities 625
Thomas A. Zimmerman
Introduction 625
Auto Loan Securities 627
Credit Performance 630
Prepayments 632
Spreads—Autos versus Other ABSs 636
Relative Value and the Shape of the Yield Curve 639
Summary 641
Chapter 32
Home Equity Loans (HELs) and HEL Backed Securities 642
Joseph C. Hu
Essence of Home Equity Loans 642
Recent Growth of Second Mortgages 643
Structuring HELBSs 648
Prepayments of HELBSs 654
Yield Spreads and Relative Value of HELBSs 657
Chapter 33
Manufactured Housing Backed ABS 659
John N. Dunlevy and Andrew Shook
Introduction 659
Manufactured Housing Product Profile 659
Manufactured Housing AB S—Overview 661
MH Deal Structures 664
Senior Bond Relative Value Analysis 665
Greentree 1995 10 Step Down Tests 667
Conclusion 668
Contents xxiii
Chapter 34
Credit Card ABS 669
David R. Howard
Credit Cards 669
Securitization 671
Structures 673
Credit Enhancement 676
Stress Scenarios 678
Master Trust Features 682
Early Amortization Risk 684
Chapter 35
Evaluating Asset Backed Securities: A Primer on
Static Spread 685
Anthony V. Thompson
Introduction 685
The Drawbacks of Using Average Maturity to Determine Yield 686
Static Spread Creates a Level Playing Field 687
Conclusion 690
PART 5
FIXED INCOME ANALYTICS AND MODELING 691
Chapter 36
Valuation of Bonds with Embedded Options 693
Frank J. Fabozzi, Andrew J. Kalotay, and George O. Williams
Implications of Callable Bonds 693
Components of Bonds with Embedded Options 694
A Generalized Model for Valuing Bonds with Embedded Options 695
Valuation of Optionless Bonds 695
Binomial Interest Rate Trees 696
The Challenge of Implementation 713
Summary 713
Chapter 37
A Comparison of Methods for Analyzing Mortgage Backed Securities 714
AndrewS. Davidson, Robert Kulason, and Michael D. Herskovitz
Static Cash Flow Yield 715
Scenario Analysis 721
xxfv Contents
Option Adjusted Spreads 727
Refinancing Threshold Pricing Model 732
Conclusions 736
Chapter 38
New Duration Measures for Risk Management 738
Thomas E. Klaffky, Ardavan Nozari, and Michael Waldman
Introduction 738
Spread Risks 740
Yield Curve Reshaping Risks 743
Prepayment Risks 745
A Portfolio Example 747
Conclusion 750
Chapter 39
Interest Rate Risk Models Used by Depository Institutions 751
Elizabeth Mays
Interest Rate Risk Models 751
Nil Sensitivity Analysis 753
Nil Simulation Models 753
Net Portfolio Value Sensitivity Analysis 755
Regulatory Assessment of IRR 759
Chapter 40
OAS and Effective Duration 763
David Audley, Richard Chin, and Shrikant Ramamurthy
The Price/Yield Relationship for Option Embedded Bonds 764
Effective Duration 769
Effective Maturity 772
Option Adjusted Spreads 774
Summary 778
Chapter 41
Fixed Income Risk Modeling 779
Ronald N. Kahn
The Valuation Model 780
The Risk Model 784
Performance 787
Portfolio Risk Characterization 789
Summary 790
Contents xxv
Chapter 42
Valuation and Analysis of Convertible Securities 791
Mihir Bhattacharya and Yu Zhu
Recent Development in Convertible Markets 792
Basic Characteristics of Convertible Securities 796
Traditional Valuation Method 797
Theoretical Valuation Model 801
Applications of Convertible Valuation Models 806
Dynamic Equity and Bond Components 810
Convertible Debt Call Policy 814
Summary 817
Chapter 43
The Term Structure of Interest Rates 818
Richard W. McEnally and James V. Jordan
Introduction 818
Theoretical Determinants of the Shape of the Term Structure 823
Classic Yield Curves and Their Rationale 838
Empirical Evidence on the Term Structure Hypotheses 840
Analyzing the Term Structure 850
PART 6
PORTFOLIO MANAGEMENT 865
Chapter 44
Bond Management: Past, Current, and Future 867
H. Gifford Fong
Traditional Fixed Income Portfolio Strategy 867
Historical Perspective 868
Quantitative Innovation 870
Summary 872
Chapter 45
The Active Decisions in the Selection of Passive Management and
Performance Bogeys 873
Chris P. Dialynas
Active Bond Management 873
Market Indexes 874
Performance Characteristics of Callable and Noncallable Bonds 876
xxvl Contents
A Look at Market Volatility 879
A Look at Interest Rates 881
The Implicit Forecasts of Volatility and Interest Rates 885
The Importance of Mortgage Coupon Concentration in Relative
LGC/LAG Performance 890
The Importance of Changes in the Shape of the Yield Curve 891
Index Consciousness 894
Chapter 46
A Sponsor s View of Benchmark Portfolios 896
Daralyn B. Peifer
The Sponsor s Role 896
Genesis of Benchmark Portfolios 898
Pension Management: Emerging Trends 899
Benchmark Portfolios 901
Benchmark Portfolio Construction 906
Fixed Income Benchmarks: Challenges and Opportunities 909
Benchmarks: Concerns and Issues 910
Summary 911
Chapter 47
Indexing Fixed Income Assets 913
Sharmin Mossavar Rahmani
Advantages and Disadvantages 913
Enhanced Index Funds 916
Indexing Methodologies 917
Implications for the Fixed Income Market 924
Chapter 48
Bond Immunization: An Asset/Liability Optimization Strategy 925
Peter E. Chris tensen, Frank J. Fabozzi, and Anthony LoFaso
What Is an Immunized Portfolio? 925
Maturity Matching: The Reinvestment Problem 927
Single Period Immunization 929
Rebalancing Procedures 933
A Simulation of a Single Period Immunized Portfolio 934
Multiperiod Immunization 947
Applications of the Immunization Strategy 951
Variations to Immunization 952
Conclusion 954
Contents xxvii
Chapter 49
Dedicated Bond Portfolios 955
Peter E. Christensen and Frank J. Fabozzi
The Need for a Broader Asset/Liability Focus 955
Cash Flow Matching for Pension Funds 956
Role of Money Manager and Dealer Firm 967
Conclusion 968
Chapter 50
Improving Insurance Company Portfolio Returns 969
Kevin E. Grant
Special Considerations for Insurance Company Portfolios 970
Don t Buy and Hold, Buy and Incubate 970
Existing Approaches to Asset/Liability Management 971
The Wish List for Portfolio Management 976
Total Return in the Asset/Liability/Regulatory/GAAPATax World 977
Probability Distributions: The Next Frontier 981
Conclusion 981
Chapter 51
Asset/Liability Management for Property/Casualty
Insurers 985
Frank D. Campbell
Property/Casualty Insurers 985
Overview of the Investment Process 988
Investment Goals 989
Risk Tolerance 992
Asset Class Allocation 1000
Asset Diversification 1006
Summary 1008
Chapter 52
Global Corporate Bond Portfolio Management 1009
Jack Malvey
Introduction 1009
Corporate Relative Value Analysis 1010
Strategic Outlook: Persistence of Capital Market Camelot ? 1011
Relative Value Methodologies 1014
Spread Analysis 1024
xxviii Contents
Some Useful Empirical Findings 1049
Summary 1051
Chapter 53 ____ The Management of High Yield Bond Portfolios 1054
Howard S. Marks
The Basic Approach: Offense or Defense? 1055
Choosing among the High Yield Bond Categories 1056
Selecting Individual Securities 1058
How Much Diversification? 1060
The Role of Trading 1062
Surviving Market Fluctuations 1063
Chapter 54
International Bond Investing and Portfolio Management 1065
Christopher B. Steward and Adam M. Greshin
Introduction 1065
The Rationale for International Bond Investing 1066
The Impact of International Bonds on a U.S. Bond Portfolio: The Case
for International Bond Investing 1078
Active International Bond Management 1083
The Tools of Active Management 1086
Managing an International Bond Portfolio 1088
Currency Hedged Bond Investment 1091
Conclusion 1096
Chapter 55
International Fixed Income Investing: Theory and Practice 1097
Michael R. Rosenberg
The Case for International Fixed Income Diversification 1098
Why There Is No Free Lunch in Currency Hedged Foreign Bonds 1104
Why There Is No Free Lunch in High Yield Foreign Bonds 1110
The Case for Active Management 1113
General Guidelines for Constructing a Global Bond Portfolio 1119
A Framework for Formulating International Fixed Income Strategy 1121
Conclusion 1135
Contents xxix
PART 7
DERIVATIVE INSTRUMENTS AND THEIR PORTFOLIO
MANAGEMENT APPLICATIONS 1137
Chapter 56
Introduction to Interest Rate Futures and Options Contracts 1139
Mark Pitts and Frank J. Fabozzi
Basic Characteristics of Derivative Contracts 1139
Representative Exchange Traded Interest Rate Futures Contracts 1142
Representative Exchange Traded Futures Options Contracts 1151
OTC Contracts 1154
Summary 1160
Chapter 57
Pricing Futures and Portfolio Applications 1161
Frank J. Fabozzi and Mark Pitts
Pricing of Futures Contracts 1162
Applications to Portfolio Management 1169
Summary 1172
Chapter 58
Treasury Bond Futures Mechanics and Basis Valuation 1173
David T. Kim
Introduction 1173
Mechanics of the Futures Contract 1174
The Basis 1178
Carry 1179
Options 1181
Conclusion 1195
Chapter 59
The Basics of Interest Rate Options 1196
William J. Gartland and Nicholas C. Letica
How Options Work 1196
Options Strategies—Reorganizing the Profit/Loss Graph 1209
Classic Option Strategies 1210
Practical Portfolio Strategies 1213
Conclusion 1220
xxx Contents
Chapter 60
Hedging with Futures and Options 1221
Mark Pitts and Frank J. Fabozzi
Hedging with Futures 1221
Hedging with Options 1240
Summary 1250
Chapter 61
Interest Rate Swaps 1252
Anand K. Bhattacharya and Frank J. Fabozzi
Interest Rate Swaps 1253
Features of a Generic Swap 1253
Interpreting a Swap Position 1254
Terminology, Conventions, and Market Quotes 1256
Applications 1257
Dollar Duration of a Swap 1261
Innovations in Swap Markets 1261
Asset Swap 1266
Termination of Interest Rate Swaps 1267
Summary 1269
Chapter 62
Interest Rate Caps and Floors and Compound Options 1270
Anand K. Bhattacharya
Features of Interest Rate Caps and Floors 1270
Pricing of Caps and Floors 1271
Interest Rate Caps 1272
Participating Caps 1275
Interest Rate Floors 1277
Interest Rate Collars 1279
Interest Rate Corridors 1280
Cap/Floor Parity 1281
Termination of Caps and Floors 1283
Compound Options 1283
Concluding Comments 1287
Questions 1289
Index 1317
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| callnumber-search | HG4651 |
| callnumber-sort | HG 44651 |
| callnumber-subject | HG - Finance |
| classification_rvk | QK 620 |
| ctrlnum | (OCoLC)263635718 (DE-599)BVBBV011295510 |
| dewey-full | 332.63/2044 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.63/2044 |
| dewey-search | 332.63/2044 |
| dewey-sort | 3332.63 42044 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| edition | 5. ed. |
| format | Book |
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| genre_facet | Aufsatzsammlung |
| id | DE-604.BV011295510 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T18:07:20Z |
| institution | BVB |
| isbn | 0786310952 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-007586743 |
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| owner_facet | DE-703 DE-945 |
| physical | XXX, 1339 S. graph. Darst. |
| publishDate | 1997 |
| publishDateSearch | 1997 |
| publishDateSort | 1997 |
| publisher | Irwin |
| record_format | marc |
| spelling | The handbook of fixed income securities Frank J. Fabozzi, ed. 5. ed. Chicago [u.a.] Irwin 1997 XXX, 1339 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier This updated and revised edition of editor Frank J. Fabozzi's classic resource includes the most current information available about fixed income securities, how to evaluate this information and how it can be used to enhance returns. In particular, there is updated and expanded coverage on bond market indexes, the high-yield bond market, international bond markets and instruments, brady bonds, standard & poor's sovereign ratings criteria, high-yield analysis of emerging markets debt, mortgages and overview of mortgage-backed securities, collateralized mortgage obligations, nonagency CMOs, commercial mortgage-backed securities, auto-loan-backed securities, home equity loans (HELs) and HEL-backed securities, manufactured housing-backed ABS, credit card ABS, evaluating amortizing ABS: a primer on static spread, global corporate bond portfolio management, and international bond investing and portfolio management. Actions privilégiées - Guides, manuels, etc Beleggingen gtt Effecten gtt Fonds communs de placement - Guides, manuels, etc Fonds du marché monétaire - Guides, manuels, etc Obligaties gtt Obligations (Valeurs) - Guides, manuels, etc Valeurs mobilières à revenus fixes - Guides, manuels, etc Bonds Handbooks, manuals, etc Fixed-income securities Money market funds Handbooks, manuals, etc Mutual funds Handbooks, manuals, etc Preferred stocks Handbooks, manuals, etc Vorzugsaktie (DE-588)4188751-7 gnd rswk-swf Derivat Wertpapier (DE-588)4381572-8 gnd rswk-swf Kapitalanlage (DE-588)4073213-7 gnd rswk-swf Festverzinsliches Wertpapier (DE-588)4121262-9 gnd rswk-swf Wertpapier (DE-588)4065674-3 gnd rswk-swf Rentenmarkt (DE-588)4177794-3 gnd rswk-swf Portfolio Selection (DE-588)4046834-3 gnd rswk-swf Asset-Backed Security (DE-588)4343344-3 gnd rswk-swf Offener Investmentfonds (DE-588)4305480-8 gnd rswk-swf 1\p (DE-588)4143413-4 Aufsatzsammlung gnd-content Festverzinsliches Wertpapier (DE-588)4121262-9 s Asset-Backed Security (DE-588)4343344-3 s Derivat Wertpapier (DE-588)4381572-8 s Portfolio Selection (DE-588)4046834-3 s 2\p DE-604 Rentenmarkt (DE-588)4177794-3 s Kapitalanlage (DE-588)4073213-7 s 3\p DE-604 Wertpapier (DE-588)4065674-3 s Vorzugsaktie (DE-588)4188751-7 s Offener Investmentfonds (DE-588)4305480-8 s 4\p DE-604 Fabozzi, Frank J. 1948- Sonstige (DE-588)129772054 oth HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=007586743&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 2\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 3\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 4\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | The handbook of fixed income securities Actions privilégiées - Guides, manuels, etc Beleggingen gtt Effecten gtt Fonds communs de placement - Guides, manuels, etc Fonds du marché monétaire - Guides, manuels, etc Obligaties gtt Obligations (Valeurs) - Guides, manuels, etc Valeurs mobilières à revenus fixes - Guides, manuels, etc Bonds Handbooks, manuals, etc Fixed-income securities Money market funds Handbooks, manuals, etc Mutual funds Handbooks, manuals, etc Preferred stocks Handbooks, manuals, etc Vorzugsaktie (DE-588)4188751-7 gnd Derivat Wertpapier (DE-588)4381572-8 gnd Kapitalanlage (DE-588)4073213-7 gnd Festverzinsliches Wertpapier (DE-588)4121262-9 gnd Wertpapier (DE-588)4065674-3 gnd Rentenmarkt (DE-588)4177794-3 gnd Portfolio Selection (DE-588)4046834-3 gnd Asset-Backed Security (DE-588)4343344-3 gnd Offener Investmentfonds (DE-588)4305480-8 gnd |
| subject_GND | (DE-588)4188751-7 (DE-588)4381572-8 (DE-588)4073213-7 (DE-588)4121262-9 (DE-588)4065674-3 (DE-588)4177794-3 (DE-588)4046834-3 (DE-588)4343344-3 (DE-588)4305480-8 (DE-588)4143413-4 |
| title | The handbook of fixed income securities |
| title_auth | The handbook of fixed income securities |
| title_exact_search | The handbook of fixed income securities |
| title_full | The handbook of fixed income securities Frank J. Fabozzi, ed. |
| title_fullStr | The handbook of fixed income securities Frank J. Fabozzi, ed. |
| title_full_unstemmed | The handbook of fixed income securities Frank J. Fabozzi, ed. |
| title_short | The handbook of fixed income securities |
| title_sort | the handbook of fixed income securities |
| topic | Actions privilégiées - Guides, manuels, etc Beleggingen gtt Effecten gtt Fonds communs de placement - Guides, manuels, etc Fonds du marché monétaire - Guides, manuels, etc Obligaties gtt Obligations (Valeurs) - Guides, manuels, etc Valeurs mobilières à revenus fixes - Guides, manuels, etc Bonds Handbooks, manuals, etc Fixed-income securities Money market funds Handbooks, manuals, etc Mutual funds Handbooks, manuals, etc Preferred stocks Handbooks, manuals, etc Vorzugsaktie (DE-588)4188751-7 gnd Derivat Wertpapier (DE-588)4381572-8 gnd Kapitalanlage (DE-588)4073213-7 gnd Festverzinsliches Wertpapier (DE-588)4121262-9 gnd Wertpapier (DE-588)4065674-3 gnd Rentenmarkt (DE-588)4177794-3 gnd Portfolio Selection (DE-588)4046834-3 gnd Asset-Backed Security (DE-588)4343344-3 gnd Offener Investmentfonds (DE-588)4305480-8 gnd |
| topic_facet | Actions privilégiées - Guides, manuels, etc Beleggingen Effecten Fonds communs de placement - Guides, manuels, etc Fonds du marché monétaire - Guides, manuels, etc Obligaties Obligations (Valeurs) - Guides, manuels, etc Valeurs mobilières à revenus fixes - Guides, manuels, etc Bonds Handbooks, manuals, etc Fixed-income securities Money market funds Handbooks, manuals, etc Mutual funds Handbooks, manuals, etc Preferred stocks Handbooks, manuals, etc Vorzugsaktie Derivat Wertpapier Kapitalanlage Festverzinsliches Wertpapier Wertpapier Rentenmarkt Portfolio Selection Asset-Backed Security Offener Investmentfonds Aufsatzsammlung |
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