Bond Markets, Analysis, and Strategies (7th Edition) [Hardcover]

Frank J. Fabozzi (Author)

Book Description

ISBN-10: 0136078974 | ISBN-13: 978-0136078975 | Publication Date: February 7, 2009 | Edition: 7

Learn how to assess and invest in bonds with this best-selling text. Fabozzi's Bond Markets is the most applied book on the market.  It prepares students to analyze the bond market and manage bond portfolios without getting bogged down in the theory. The author's extensive experience in the field is reflected in this uniquely applied approach. This seventh edition has been painstakingly updated.  The author conducted numerous conversations and discussions with analysts and portfolio managers to make sure that this text reflects the field today.

Pricing of Bonds; Measuring Yield; Bond Price Volatility; Factors Affecting Bond Yields and the Term Structure of Interest Rates; Treasury and Agency Securities; Corporate Debt Instruments; Municipal Securities; Non-U.S. Bonds; Residential Mortgage Loans; Agency Mortgage Pass-through Securities; Agency Collateralized Mortgage Obligations and Stripped Mortgage-Backed Securities; Prime and Subprime Mortgage-Backed Securities; Commercial Loans and Commercial Mortgage-Backed Securities; Asset-Backed Securities; Cash Collateralized Debt Obligations; Interest Rate Models; Analysis of Bonds with Embedded Options; Analysis of Mortgage-Backed Securities; Analysis of Convertible Bonds; Corporate Bond Credit Analysis; Credit Risk Modeling; Active Bond Portfolio Management Strategies; Indexing; Liability  Driven Strategies; Bond Performance Measurement and Evaluation; Interest Rate Futures; Interest Rate Options; Interest-Rate Swaps, Caps, and Floors; Credit Derivatives and Synthetic CDOs
  The latest edition of Fabozzi’s Bond Markets helps make sense of bond markets and mortgage financing. The 2008 financial crisis is explained as part of the newly added chapter on prime and subprime loans.

Editorial Reviews

From the Publisher

This comprehensive textbook on bonds takes a practical real-world approach to the subject. It includes a detailed discussion of each type of bond including a wide range of products. The text features comprehensive discussion of not only the instruments, but their investment characteristics, the state-of-the art technology for valuing them, and portfolio strategies for using them. --This text refers to an out of print or unavailable edition of this title.

From the Back Cover

This comprehensive reference on bonds takes a practical real-world approach to the subject. It contains detailed presentations of each type of bond and includes a wide range of products. Extensive discussions include not only the instruments, but also their investment characteristics, the state-of-the art technology for valuing them, and portfolio strategies for using them. Chapter topics include pricing, measuring yield, price volatility, municipal securities, non-U.S. bonds, performance measurement and evaluation, and interest-rate options. For portfolio managers and analysts in their quest for sound investments, and for individuals seeking to become more knowledgeable investors. --This text refers to an out of print or unavailable edition of this title.

See all Editorial Reviews

Product Details

• Hardcover: 792 pages
• Publisher: Prentice Hall; 7 edition (February 7, 2009)
• Language: English
• ISBN-10: 0136078974
• ISBN-13: 978-0136078975
• Product Dimensions: 10 x 8 x 1.3 inches
• Shipping Weight: 3.4 pounds (View shipping rates and policies)
• Average Customer Review: 3.6 out of 5 stars  See all reviews (14 customer reviews)
• Amazon Best Sellers Rank: #6,878 in Books (See Top 100 in Books)
  • #65 in Books > Business & Investing > Investing

Customer Reviews

Most Helpful Customer Reviews

27 of 31 people found the following review helpful:

4.0 out of 5 stars A lot of hand waving, but does help, April 3, 2002

By 

Sunanda Dutta "kolikata" (Hoboken, NJ) - See all my reviews
(REAL NAME)   

This review is from: Bond Markets: Analysis and Strategies (4th Edition) (Hardcover)

A little too wordy, but as a management text, I guess its a prerequisite. It covers the gamut of fixed income securities, but only approaches the problems deterministically. The first thirteen chapters are "text" chapters, with the real math starting in chapter 14. However, the math used is elementary, and will not be of much help in the real world. For the fixed income math portion look into "Bond Pricing and Portfolio Analysis" by Olivier de La Grandville.

For a first course in bonds, and if the student has no prior background, this book will indeed be useful. But, for advanced students the book mentioned above should be more insightful.

10 of 10 people found the following review helpful:

1.0 out of 5 stars Plagued by Math Errors and Incomplete Formulas, April 30, 2008

By 

Veritas "Avid Reader" (USA) - See all my reviews

This review is from: Bond Markets, Analysis and Strategies (6th Edition) (Paperback)

This book has numerous issues with incomplete formulas, math errors, and poor editing. Many of the questions at the end of the chapters are incomplete and the solutions in the manual often add in information that was not in the question. The solutions manual has lots of numbers transposed and on multipart questions these errors cause all of the answers to be incorrect. In addition, many of the solutions will change par value in the middle of the answer making it very confusing.

The editor of this book should be fired immediately.

14 of 16 people found the following review helpful:

5.0 out of 5 stars Excellent introduction to Bond Markets - VERY well written, June 14, 2002

By 

Craig Matteson (Saline, MI) - See all my reviews
(TOP 500 REVIEWER)    (HALL OF FAME REVIEWER)    (REAL NAME)   

This review is from: Bond Markets: Analysis and Strategies (4th Edition) (Hardcover)

If you think of this as an introductory book to the world of Bonds rather than a field manual for professionals you will find this to be a wonderful book. I find it to be engagingly written (yes, engaging!) with well-chosen examples. It is very nice to be able to read a book about Bonds and find it stimulating. It would have been easy to write a book that could act as a sleep-aid. Instead, this book provides learning objectives for each chapter and the prose is so inviting that I felt the book to be a page-turner.

The math used is not complicated and is chosen to help understanding rather than demonstrate the sophisticated math used in the actual world of bond trading. If you want that kind of material this isn't the book for you.

I don't know if there is a solutions manual available, but I couldn't find it. If there isn't, there should be. I have never had a college course that used the problems in the book for actual coursework and yet, no matter how simple the problems seem, it is nice for the student to be able to confirm that he or she has indeed found the right answer.

There are also many helpful footnotes that point to materials for further and deeper reading on the subjects introduced in this fine book.