Bond and Money Markets: Strategy, Trading, Analysis [Paperback]

Moorad Choudhry (Author)

Book Description

Publication Date: August 18, 2003 | ISBN-10: 0750660783 | ISBN-13: 978-0750660785 | Edition: 1

The Bond and Money Markets is an invaluable reference to all aspects of fixed income markets and instruments. It is highly regarded as an introduction and an advanced text for professionals and graduate students.

Features comprehensive coverage of:
* Government and Corporate bonds, Eurobonds, callable bonds, convertibles
* Asset-backed bonds including mortgages and CDOs
* Derivative instruments including futures, swaps, options, structured products
* Interest-rate risk, duration analysis, convexity, and the convexity bias
* The money markets, repo markets, basis trading, and asset/liability management
* Term structure models, estimating and interpreting the yield curve
* Portfolio management and strategies,total return framework, constructing bond indices

* A stand alone reference book on interest rate swaps, the money markets, financial market mathematics, interest-rate futures and technical analysis
* Includes introductory coverage of very specialised topics (for which one previously required several texts) such as VaR, Asset & liability management and credit derivatives
* Combines accessible style with advanced level topics

Editorial Reviews

Review

"Moorad is a master of his subject. He is a rare financial markets author, in being both highly readable and yet still informative to practitioners. The academic will find a lot to admire in this comprehensive and lucid guide. The reader will come to treat this book as his bible."
- David Wileman, CEO, King & Shaxson Bond Brokers Limited, Old Mutual plc.

"Moorad has written an excellent handbook on fixed income markets. It provides a broad ranging practitioner"s guide to all instruments and trading approaches that make fixed income an exciting market."
- Jan Loeys, Global Head of Fixed Income Research, J.P.Morgan & Co.

"The Author writes very lucidly on fixed income issues and combines mathematics and text very effectively. I found the chapters interesting and easy to read."
- Dr Stephen Satchell, Fellow of Trinity College, a Reader in Financial Econometrics at the University of Cambridge, and Visiting Professor at Birkbeck College, City University Business School.

"In the "Bond and Money Markets", Moorad Choudhry has managed to combine the clarity of explanation vital to students of the subject with sufficient content and detail to ensure that even the experienced practitioner will find this book an invaluable asset. To have covered such a complex area so effectively within one reference book is a notable achievement, to have done so with such obvious enthusiasm only adds to the excellence of this work."
- Martin Barber, Partner, Financial Services, KPMG Consulting.

"A fantastic achievement and set to become the premier reference on global debt capital markets. Written in the author"s trademark accessible style, this is a superlative and enthusiastic contribution to the financial economics literature."
- Daniel Shakhani, Global Credit Strategy, Goldman Sachs International.

"After spending a lifetime reading dry prose in capital markets texts, this is like a fresh breeze from an author with knowledge and experience. The conversational style, real worked examples and excellent illustrations make the understanding of complex issues very easy. In my opinion everyone from market professionals to market novices will find something of great value in this book, and most will end up with a well thumbed copy."
- Pantea Rezaifard, Vice President, Corporate and Sovereign Trading, Merrill Lynch.

Book Description

New paperback edition

See all Editorial Reviews

Product Details

• Paperback: 1152 pages
• Publisher: Butterworth-Heinemann; 1 edition (August 18, 2003)
• Language: English
• ISBN-10: 0750660783
• ISBN-13: 978-0750660785
• Product Dimensions: 9.4 x 7.1 x 2.2 inches
• Shipping Weight: 5.7 pounds (View shipping rates and policies)
• Average Customer Review: 4.4 out of 5 stars  See all reviews (16 customer reviews)
• Amazon Best Sellers Rank: #421,991 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

9 of 10 people found the following review helpful:

5.0 out of 5 stars The new bond market learning benchmark, December 10, 2001

By 

Matthew Bartlett (London) - See all my reviews

This review is from: Bond and Money Markets: Strategy, Trading, Analysis (Securities Institution Professional Reference Series) (Hardcover)

The trainer at a fixed income course I attended recently recommended that we all buy this book. He said "it's expensive but well worth it". He wasn't kidding - this book is worth every penny. I reckon it's set to be the standard reference work for anyone working in the bond and money markets. Since I bought it, everyone in my department has borrowed it at one time or another, to look things up, refresh their memory or learn something new. It's brilliant, and written in a way that is easy to follow. I understood swaps and credit derivatives straight away, and the section on value-at-risk was very accessible. I also found the examples and illustrations very helpful. A great effort. I suspect that it took so long for the author to write that by the time he finished it, chapter 1 was already a few years old, some of the market statistics date from 1998 or 1999. But that's a minor point, this book has everything you would want to know about the markets, and has to be my best purchase on the subject ever. Nice job, well done. Matthew Bartlett, Investment Bank, City of London

3 of 3 people found the following review helpful:

4.0 out of 5 stars Bible, January 19, 2007

By 

B. Rich "EbitdaMargin" (CT) - See all my reviews
(REAL NAME)   

This review is from: Bond and Money Markets: Strategy, Trading, Analysis (Paperback)

Explains basics-intermediate knowledge of bond markets. Eveen goes into basic understainding of fixed income trading strategy, if you want to work on a desk, in research,or are taking a fin-markets course, you will find this useful through your entire career.

5 of 6 people found the following review helpful:

5.0 out of 5 stars The only book you need on bonds and derivatives, October 7, 2003

By 

John Hammond (London) - See all my reviews

This review is from: Bond and Money Markets: Strategy, Trading, Analysis (Securities Institution Professional Reference Series) (Hardcover)

This is a truly impressive work and a great reference. Even market experts will find something of value here, it takes the reader from first principles to some very complex subjects, all explained in very acccessible fashion. Every topic connected with the debt capital markets is covered, ranging from bonds, interest-rate derivatives, money markets, credit derivatives, yield curve analysis, structured products, CDOs, everything. It is also very well written, like having your own private tutor and market expert delivering a lecture on the markets. It is well worth the money I paid for it, and I recommend it to anyone who needs to know about bonds, derivatives and market analysis. This book is streets ahead of all the competition, no author I have come across, in over 20 years of experience in the markets, comes close to writing like Choudhry does. [e-mail]