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on July 22, 2003
Since all of the reviews cover the first edition, it's definitely worth noting that the 2nd edition is much improved. I've read most of the introductory books on fixed income, and none explain the market as clearly and intuitively as Tuckman. Anyone who is joining a fixed income desk or who seeks to learn more about this area should pick up this book before any others. The repo markets, interest rate and asset swaps, forwards, and futures are all covered in excellent detail. There are few discussions of duration and convexity that rival this one. Overall, this book scores high in all major areas and is highly recommended by all those I know who have come across it.
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on August 1, 2013
I used this for my fixed income class and it was simply amazing. It reads almost like a novel, but contains all the pertinent formulas and theorems that you will need to gain a basic understanding of fixed income.
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on March 31, 2007
On page 116, formula 6.1, the price formula for a bond is actually for a semiannual coupon bond, not as stated on the book, for annual coupon bond.

As a consequence, the dv01, duration and convexity formula it states are for semiannual coupon bonds as well.

I think both Tuckman and Fabozzi's books have their own pros and cons. Tuckman's book touchs more on the trading, which is interesting. Although it could be less rigorous in terms of treating the formulas. I own both books.
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on July 11, 2010
The title pretty much sums up my feelings. This book addresses a complicated topic with uncanny efficiency.
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