Fixed Income Analysis by Barbara Petitt, Jerald Pinto, Wendy L. Pirie
By Barbara Petitt, Jerald Pinto, Wendy L. Pirie
The basic consultant to mounted source of revenue portfolio administration, from the specialists at CFA fastened source of revenue research offers authoritative and up to date assurance of the way funding pros research and deal with mounted source of revenue portfolios. With precise info from CFA Institute, this consultant comprises complete, example-driven shows of all crucial subject matters within the box to supply worth for self-study, basic reference, and lecture room use. Readers are first brought to the basic innovations of fastened source of revenue ahead of carrying on with directly to research of danger, asset-backed securities, time period constitution research, and a normal framework for valuation that assumes no past correct historical past. the ultimate component to the booklet comprises 3 readings that construct the information and talents had to successfully deal with fastened source of revenue portfolios, giving readers a real-world knowing of ways the ideas mentioned are essentially utilized in client-based eventualities. a part of the CFA Institute funding sequence, this e-book offers an intensive exploration of mounted source of revenue research, truly provided through specialists within the box. Readers achieve serious wisdom of underlying suggestions, and achieve the talents they should translate idea into perform. * comprehend fastened source of revenue securities, markets, and valuation * grasp chance research and common valuation of mounted source of revenue securities * learn the way mounted source of revenue securities are sponsored by way of swimming pools of resources * discover the relationships among bond yields of alternative maturities funding analysts, portfolio managers, person and institutional traders and their advisors, and somebody with an curiosity in mounted source of revenue markets will delight in this entry to the simplest in specialist caliber info. For a deeper knowing of fastened source of revenue portfolio administration practices, mounted source of revenue research is an entire, crucial source.
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Extra info for Fixed Income Analysis
C. foreign bond. Chapter 1 Fixed-Income Securities: Defining Elements 21 Solution to 1: B is correct. A domestic bond is issued by a local issuer, denominated in local currency, and sold in the domestic market. Gilts are British pound–denominated bonds issued by the UK Debt Management Office in the United Kingdom. Thus, they are UK domestic bonds. A is incorrect because a bond issued by LG Group from South Korea, denominated in British pounds, and sold in the United Kingdom, is an example of a foreign bond (bulldog bond).
The treasurer or chief financial officer of the issuer. C. a financial institution appointed by a regulatory authority. Chapter 1 Fixed-Income Securities: Defining Elements 3. The individual or entity most likely responsible for the timely payment of interest and repayment of principal to bondholders is the: A. trustee. B. primary or lead bank of the issuer. C. treasurer or chief financial officer of the issuer. 4. The major advantage of issuing bonds through a special purpose vehicle is: A. bankruptcy remoteness.
If the debenture is secured, debenture holders rank above unsecured creditors of the company; they have a specific asset or pool of assets that the trustee can call on to realize the debt in the event of default. 2. Types of Collateral Backing There is a wide range of bonds that are secured by some form of collateral. Some companies issue collateral trust bonds and equipment trust certificates. Collateral trust bonds are secured by securities such as common shares, other bonds, or other financial assets.