High Yield Bonds: Market Structure, Valuation, and Portfolio

High Yield Bonds: Market Structure, Valuation, and Portfolio Strategies

HIGH-YIELD BONDS provides state-of-the-art research, strategies, and toolsÃ‘alongside the expert analysis of respected authorities including Edward Altman of New York UniversityÃ•s Salomon Center, Lea Carty of MoodyÃ•s Investor Service, Sam DeRosa-Farag of Donaldson, Lufkin & Jenrette, Martin Fridson of Merrill Lynch & Company, Stuart Gilson of Harvard University, Robert Kricheff of CS First Boston, and Frank Reilly of the University of Notre DameÃ‘to help you truly understand todayÃ•s high-yield market. For added value and ease of reference, this high-level one-volume encyclopedia is divided into seven sections detailing virtually every aspect of high-yield bond investment. They include: Market structureÃ‘The role of investment banks in security innovation and market development, evolution of analytical methodologies, and recent leveraged loan market developments; Security risk analysisÃ‘Historical bond default rates, real interest rate and default rate relationships, and new simulation methodologies for modeling credit quality; Security valuationÃ‘Impact of seniority and security on bond pricing and return, important trading factors, and a Monte Carlo simulation methodology for valuing bonds and options in the context of correlated interest rate and credit risk; Market valuation modelsÃ‘Econometric studies which detail the importance of monetary influences, risk-free interest rates, default rates, mutual fund flows, and seasonal fluctuations; Portfolio managementÃ‘Historical perspective and comparison to alternative investments, analysis of indices available to investors, and specific portfolio selection and risk management strategies of professional fund managers; Distressed security investingÃ‘Historical risk and return information, plus an academic overview of the market and decision criteria for uncovering and investing in securities with higher-than-average risk-adjusted returns; Corporate finance considerationsÃ‘Emerging firmsÃ• strategic choice between external debt and equity financing, as well as the choice of issuing public versus private (Rule-144a) securities. HIGH-YIELD BONDS provides extensive coverage of bond valuation and the construction and management of high-yield portfolios. Advanced Monte Carlo simulation models for the valuation of bonds and options on bonds as well as risk assessments on portfolios of bonds under conditions of correlated interest rate and credit risk are demonstrated. In todayÃ•s explosive environment of multiple new issues and high risk versus return relationships, it is paramount that you get advice from analysts and experts who have been influential in shaping and defining the market. HIGH-YIELD BONDS will provide you with a valuable reference to this fascinating and constantly changing class of securities, helping you assemble a stable, diversified portfolio of fixed income investments that provides the greatest returns and the lowest risks.
Country USA
Brand McGraw-Hill Education
Manufacturer McGraw-Hill
Binding Hardcover
Height 9
Length 6.4
Weight 2.10100535686
Width 1.39
ReleaseDate 0000-00-00

Country	USA
Brand	McGraw-Hill Education
Manufacturer	McGraw-Hill
Binding	Hardcover
Height	9
Length	6.4
Weight	2.10100535686
Width	1.39
ReleaseDate	0000-00-00

High Yield Bonds: Market Structure, Valuation, and Portfolio Strategies

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