The essential guide to fixed-income portfolio management, from experts working with CFA Institute
Fixed Income Analysis, 5th Edition delivers an authoritative overview of how successful investment professionals manage fixed-income portfolios. Back with expanded content on the defining elements of fixed income securities, corporate debt, repurchase agreements, term structure models, and more, the 5th edition gives students and practitioners alike the tools to understand and apply effective fixed income portfolio management tactics.
Revised and updated by a team of investment experts in collaboration with CFA Institute, this text introduces the fundamental topics of fixed income securities and markets while also providing in-depth coverage of fixed income security valuation. This new edition offers refreshed and expanded content on the analysis and construction of active yield curve and credit strategies for portfolio managers.
Thanks to a wealth of real-world examples, Fixed Income Analysis remains an excellent resource for professionals looking to expand upon their current understanding of this important facet of portfolio management, as well as for students in the undergraduate or graduate classroom.
Through this text, readers will:
Understand the main features and characteristics of fixed income instruments Master the key return and risk measures of fixed income instruments Develop and evaluate key fixed income investment strategies based on top-down and bottom-up analysis
The companion workbook (sold separately) includes problems and solutions aligning with the text and allows learners to test their comprehension of key concepts.
CFA Institute is the world’s premier association for investment professionals, and the governing body for the CFA® Program, CIPM® Program, CFA Institute ESG Investing Certificate, and Investment Foundations® Program. Investment analysts, portfolio managers, individual and institutional investors and their advisors, and any reader with an interest in fixed income markets will value this accessible and informative guide.
By:
CFA Institute
Imprint: John Wiley & Sons Inc
Country of Publication: United States
Edition: 5th edition
Dimensions:
Height: 257mm,
Width: 188mm,
Spine: 51mm
Weight: 1.588kg
ISBN: 9781119850540
ISBN 10: 1119850541
Series: CFA Institute Investment Series
Pages: 912
Publication Date: 23 December 2022
Audience:
Professional and scholarly
,
Undergraduate
Format: Hardback
Publisher's Status: Active
Preface xv Acknowledgements xvii About the CFA Institute Investment Series xix PART I: Fixed Income Essentials CHAPTER 1: Fixed Income Securities: Defining Elements 3 CHAPTER 2: Fixed Income Markets: Issuance, Trading, and Funding 45 CHAPTER 3: Introduction to Fixed-Income Valuation 91 CHAPTER 4: Introduction to Asset-Backed Securities 149 CHAPTER 5: Understanding Fixed-Income Risk and Return 201 CHAPTER 6: Fundamentals of Credit Analysis 257 PART II: Fixed Income Term Structure, Advanced Valuation, and Credit Analysis CHAPTER 7: The Term Structure and Interest Rate Dynamics 325 CHAPTER 8: The Arbitrage-Free Valuation Framework 377 CHAPTER 9: Valuation and Analysis of Bonds with Embedded Options 419 CHAPTER 10: Credit Analysis Models 487 CHAPTER 11: Credit Default Swaps 545 PART III: Fixed Income Portfolio Management CHAPTER 12: Overview of Fixed-Income Portfolio Management 575 CHAPTER 13: Liability-Driven and Index-Based Strategies 617 CHAPTER 14: Yield Curve Strategies 693 CHAPTER 15: Fixed-Income Active Management: Credit Strategies 743 Glossary 823 About the Editors 841 About the CFA Program 843 Index 845
CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion for ethical behavior in investment markets and a respected source of knowledge in the global financial community. The end goal: to create an environment where investors' interests come first, markets function at their best, and economies grow. CFA Institute has more than 170,000 members in 160+ countries and territories, including 163,000 CFA® charterholders, and 150+ member societies. For more information, visit www.cfainstitute.org.
