From the Inside Flap
The third edition of Fixed Income Analysisedited by financial experts Barbara S. Petitt, Jerald E. Pinto, Wendy L. Pirie, and a team of knowledgeable contributors from CFA Instituteoffers a comprehensive and authoritative resource that includes practical information on the most important issues related to fixed-income analysis.
Fixed Income Analysis has been thoroughly revised and updated to cover a wide range of topics including the fixed-income marketplace, the risks associated with investing in fixed-income securities, and the fundamentals of valuation and interest rate risk. This important resource also examines the valuation of fixed-income securities with embedded options, the features of structured products, and the principles of credit analysis. In addition, Fixed Income Analysis, Third Edition clearly demonstrates how to build the skills needed to managefixed-income portfolios in line with an individual investor's objectives.
Drawing on the resources of the acclaimed CFA Institute, Fixed Income Analysis explains all types of fixed-income securities and defines their main characteristics. Appropriate for both experienced professionals and those new to the field, the text introduces fixed-income valuation in a highly accessible manner. The authors also cover modern techniques of analyzing interest rate risk and explain modern professional practice in evaluating credit risk as well as quantitative methods of credit risk analysis.
The contributors include material on fixed-income securities backed by pools of assets, and the book's arbitrage-free valuation framework explains and illustrates a general structure for valuing fixed-income securities. The information on bonds with embedded options covers the more complex case in which securities include options that the issuer or investor may exercise. The third edition covers a wide range of critical topics necessary for fully understanding fixed-income securities.
This vital guide contains a wealth of example-driven presentations of all the essential topics in order to provide value for self-study, general reference, and classroom use.
From the Back Cover
CFA INSTITUTE INVESTMENT SERIES
CFA Institute's essential guide to fixed-income portfolio management, revised and updated
Now in its third edition, Fixed Income Analysis offers authoritative and up-to-date coverage of how successful investment professionals analyze and manage fixed-income portfolios.
With contributions from a team of financial experts, the text is filled with detailed information from CFA Institute and contains a comprehensive review of the essential topics in the field. Fixed Income Analysis introduces the fundamental concepts of fixed income and provides a thorough analysis of risk, asset-backed securities, and term structure analysis. The book contains a general framework for valuation that is designed to be accessible to both professionals and those new to the field. The authors also include examples that help build the knowledge and skills needed to effectively manage fixed-income portfolios. Fixed Income Analysis gives a real-world understanding of how the concepts discussed are practically applied in client-based scenarios.
Investment analysts, portfolio managers, individual and institutional investors and their advisors, and anyone with an interest in fixed-income markets will appreciate this accessible guide to fixed-income analysis.