Bond Markets, Analysis, and Strategies, tenth edition

by Frank J. Fabozzi

The updated edition of a widely used textbook that covers fundamental features of bonds, analytical techniques, and portfolio strategy.


This new edition of a widely used textbook covers types of bonds and their key features, analytical techniques for valuing bonds and quantifying their exposure to changes in interest rates, and portfolio strategies for achieving a client's objectives. It includes real-world examples and practical applications of principles as provided by third-party commercial vendors. This tenth edition has been substantially updated, with two new chapters covering the theory and history of interest rates and the issues associated with bond trading. Although all chapters have been updated, particularly those covering structured products, the chapters on international bonds and managing a corporate bond portfolio have been completely revised.

The book covers the basic analytical framework necessary to understand the pricing of bonds and their investment characteristics; sectors of the debt market, including Treasury securities, corporate bonds, municipal bonds, and structured products (residential and commercial mortgage-backed securities and asset-backed securities); collective investment vehicles; methodologies for valuing bonds and derivatives; corporate bond credit risk; portfolio management, including the fundamental and quantitative approaches; and instruments that can be used to control portfolio risk.

Genres: Finance, Business, Economics, Textbooks, Reference, Nonfiction

936 pages, Hardcover

First published November 1, 1988

About the author

Frank J. Fabozzi is a Professor in the Practice of Finance and Becton Fellow in the Yale School of Management. He is well known as the author of numerous books on finance, both practitioner-focused and academic. Professor Frank J. Fabozzi will be joining Edhec Risk Institute on August 1, 2011. EDHEC-Risk Institute is part of EDHEC Business School, one of Europe’s leading business schools.

Reviews

[Michael Corley · Rating 5 out of 5]

This is like the gold standard reference for fixed income securities. I used a version of this in undergraduate and when I retook the course in graduate school, they used the exact same text to go into the subject matter in more detail. Fabozzi's texts are well known in fixed income securities.

[Vaseekaran · Rating 5 out of 5]

It's a very good book for a starter who starts his career in a treasury.

[Joshua Norman · Rating 5 out of 5]

I can see why it is a widely used book for graduate finance fixed income courses

[Henry · Rating 5 out of 5]

Traditional bond analysts differ greatly from loan analysts. The latter focus mainly on the quality performance of individual loans. Thus, in depth research of individuals or individual companies are conducted. However, for a portfolio manager, his job isn't focusing on the due diligence of the individual companies (they often outsource that to the rating agencies), rather, they use mathematical equations to calculate the likelihood of the performance of such bond compare to other instruments. Which means in sum, the loan officer who are prudent in picking the better performing bond would have higher margin of safty than a bond profolio manager, since the ladder cares more about a group of securities not hand picking individual ones.

[Ivan]

Unlike other books about bond, it contains clear and well explained concepts and examples. Besides, it covers all the major topics about bond markets.