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A comprehensive, in-depth look at global debt capital markets in the post-crisis worldFully updated with comprehensive coverage of the post-crisis debt markets and their impact on key industry issues, Fixed Income Markets: Management, Trading, and Hedging, Second Edition offers insights into derivative pricing, cross-currency hedging, and new liquidity legislation. Written by Choudhry, Moskovic, and Wong, Fixed Income Markets is an indispensable read for anyone working in bond markets, interest-rate markets, and credit derivatives markets looking to better understand today's debt markets.This acclaimed book takes a unique look into the leading practices in bond markets as well as post-credit-crunch impacts on pricing that are rarely captured in textbooks. The new edition provides expanded coverage on a wide range of topics within hedging, derivatives, bonds, rebalancing, and global debt capital markets. New topics include:* Dynamic hedging practices and cross-currency hedging* Collateralized and uncollateralized derivatives, and their impact on valuation* Callable bonds, pricing, trading, and regulatory aspects related to liquidity* Rebalancing as a method for capturing contingencies and other complex imbedded risksAs a bonus, the book includes reference information for statistical concepts and fixed income pricing, as well as a full glossary and index. Written in Choudhry's usual accessible style, Fixed Income Markets is a comprehensive and in-depth account of the global debt capital markets in today's post-crisis world.

Fixed Income Markets: Management, Trading and Hedging

Foreword.Preface.Acknowledgments.About the Author.PART I: INTRODUCTION TO BONDS.Chapter 1. The bond instrument.Chapter 2. Interest-rate risk.Chapter 3. Pricing, spot and forward rates.Chapter 4. Interest rate modelling.Chapter 5. Yield curve fitting.PART II: ELECTED MARKET INSTRUMENTS.Chapter 6. Money markets.Chapter 7. Hybrid securities.Chapter 8. Analysis of callable bonds.Chapter 9. Index-linked bonds.Chapter 10. ABS and MBS intro.Chapter 11. CDOs.Chapter 12. Structured credit products.PART III: DERIVATIVE INSTRUMENTS.Chapter 13. Forwards and futures pricing.Chapter 14. Bond futures.Chapter 15. Swaps.Chapter 16. SwapNote.Chapter 17. Credit derivatives I.Chapter 18. Credit derivatives II.Chapter 19. Options I.Chapter 20. Options II.PART IV: BOND TRADING AND HEDGING.Chapter 21. Value-at-risk and Credit VaR.Chapter 22. Government bond analysis, the yield curve and relative-value trading.Chapter 23. Approaches to trading and hedging.Appendix A: Statistical concepts.Appendix B: Basic tools.Appendix C: Introduction to the mathematics of fixed income pricing.Glossary.Index.