Product Description
The increase in the variability of interest rates since the 1950s has made financing decisions more difficult for investors. This book offers a comprehensive treatment of the money and capital markets, the various instruments traded in them and the economic factors affecting them.
From the Back Cover
Money and Capital Markets offers thorough coverage of financial institutions and markets for upper-level undergraduate or MBA courses. Prerequisites for the text are an introductory finance course and basic knowledge of algebra. Money and Capital Markets presents the major theories of the impact of inflation, government spending, and monetary policy upon interest rates. In order to emphasize factors determining the prices and risks of financial instruments, descriptive information about institutions is kept to a minimum. The links between different types of securities are shown through risk-free arbitrage. This allows instructors and students to establish frameworks for linking different types of bonds and connecting futures markets with spot markets. The third edition features:
* Updated institutional information, including coverage of US treasury auctions, investment banking, brokers and dealers, bank regulation, and mortgage markets.
* Extensively revised end of chapter problems challenging the student to think critically.
* More user friendly chapters on spot and forward interest rates, coupon-bearing bands, bond investment risks and features.
--This text refers to the
Paperback
edition.
