Euro bonds markets, infrastructure and trends (World Scientific Pub. Co., 2014)
Includes bibliographical references and index
1. The bond market in Europe. 1.1. Introduction. 1.2. History and development. 1.3. The main features of Euro bonds. 1.4. Government bonds. 1.5. Corporate bonds. 1.6. The 2008 financial crisis. 1.7. The European Union bond -- 2. The market infrastructure. 2.1. Introduction. 2.2. The retail markets. 2.3. The electronic markets. 2.4. The clearing and settlement system. 2.5. The role of custodians -- 3. Government bond markets. 3.1. Introduction. 3.2. The Euro sovereign bond market evolution. 3.3. Country risk. 3.4. Bond spread dynamics country-specific risk. 3.5. Fixed-income markets and financial risk premia. 3.6. Sovereign risk and ECB policy -- 4. The corporate bond market. 4.1. Introduction. 4.2. Recent evolution. 4.3. Euro-corporate bond indices. 4.4. Moody's 2011 global credit report -- 5. Credit rating agencies. 5.1. Introduction. 5.2. The CRAs. 5.3. Regulation of CRAs. 5.4. The importance of competition. 5.5. Rating methodologies -- 6. Securitization market. 6.1. Introduction. 6.2. Asset classes. 6.3. The securitization process. 6.4. Rationale for securitization. 6.5. The market evolution -- 7. Market bond products. 7.1. The covered bond market. 7.2. Inflation-linked bonds. 7.3. Bond exchange traded funds -- 8. Credit derivatives market. 8.1. Introduction. 8.2. The CDS market. 8.3. Collateralized debt obligation. 8.4. Case studies
Euro Bonds: Markets, Infrastructure and Trends presents the most recent developments in the Euro bond market. It discusses the problems of the Euro countries, the proposed solutions advocated by European as well as international institutions and investors. Particular emphasis is given to systemic risk and contagion as well as to specific innovative instruments such as structured financial products which protect various classes of investors. This self-contained title provides an organized and comprehensive overview of the current financial situation in Europe and accords the reader the opportunity to understand fully what is happening in the Euro financial market today, as well as some of the possible exit strategies from the crisis. It may be used as an advanced textbook by postgraduate students as well as ambitious undergraduates in finance and economics. It is also useful for non-experts in finance who wish to have an overview of problems in the Euro zone