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The Global Money Markets: Frank J. Fabozzi Series

Autor Frank J. Fabozzi, Steven V. Mann, Moorad Choudhry
en Limba Engleză Hardback – 22 aug 2002
An informative look at the world of short–term investing and borrowingThe Global Money Marketsis the authoritative source on short–term investing and borrowing–from instruments in the U.S. and U.K., to asset–liability management. It also clearly demonstrates the various conventions used for money market calculations and discusses other short–term structured financial products such as asset–backed securities and mortgage–backed securities.
Steven V. Mann(Columbia, SC) is Professor of Finance at the Moore School of Business, University of South Carolina. He has coauthored two previous books and numerous articles in the area of investments and works as a consultant to investment/commercial banks throughout the United States. Moorad Choudhry (Surrey, UK) is a Vice President of structured finance services with JPMorganChase in London. Prior to that he worked as a gilt–edged market maker and Treasury trader at ABN Amro Hoare Govett Sterling Bonds Limited, and as a sterling proprietary trader at Hambros Bank Limited. Moorad is a Senior Fellow at the Centre for Mathematical Trading and Finance, City University Business School.
John Wiley & Sons, Inc. is proud to be the publisher of the esteemedFrank J. Fabozzi Series. Comprising nearly 100 titles–which include numerous bestsellersThe Frank J. Fabozzi Seriesis a key resource for finance professionals and academics, strategists and students, and investors. The series is overseen by its eponymous editor, whose expert instruction and presentation of new ideas have been at the forefront of financial publishing for over twenty years. His successful career has provided him with the knowledge, insight, and advice that has led to this comprehensive series.
Frank J. Fabozzi, PhD, CFA, CPA, is Editor of the Journal of Portfolio Management, which is read by thousands of institutional investors, as well as editor or author of over 100 books on finance for the professional and academic markets. Currently, Dr. Fabozzi is an adjunct Professor of Finance at Yale University′s School of Management and on the board of directors of the Guardian Life family of funds and the Black Rock complex of funds.
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Specificații

ISBN-13: 9780471220930
ISBN-10: 0471220930
Pagini: 336
Dimensiuni: 159 x 235 x 25 mm
Greutate: 0.59 kg
Ediția:00003
Editura: Wiley
Seria Frank J. Fabozzi Series

Locul publicării:Hoboken, United States

Public țintă

Institutional investment managers.

Descriere

The Global Money Markets is the ultimate and most comprehensive guide to the world′s money markets and the products that make up this vital element of the global economy. Written in a clear, accessible style, and including the most up–to–date information, this book is a great resource for all finance professionals, including market traders, salespeople, and corporate treasurers.

For the first time, this book brings together the complete range of products used in markets around the world. Through extensive use of real–world examples, case studies, and Bloomberg screens, every aspect of the market is described and analyzed in detail.

The instruments covered include:
∗ Traditional debt instruments such as bills, CDs, and bankers acceptances
∗ Corporate debt products, including commercial paper and medium–term notes
∗ The new range of securitized products, including short–term asset–backed securities and mortgage–backed securities
∗ Asset–backed CP conduits
∗ Floating–rate notes
∗ Derivative instruments, including short–term interest rate futures and swaps
∗ Repurchase and reverse repurchase agreements

This book is the complete reference work on the global money markets, written by the leading names in the business. The Global Money Markets is vital reading for anyone with an interest in money market products, practices, and mechanics.

Textul de pe ultima copertă

The Global Money Markets is the ultimate and most comprehensive guide to the world′s money markets and the products that make up this vital element of the global economy. Written in a clear, accessible style, and including the most up–to–date information, this book is a great resource for all finance professionals, including market traders, salespeople, and corporate treasurers.

For the first time, this book brings together the complete range of products used in markets around the world. Through extensive use of real–world examples, case studies, and Bloomberg screens, every aspect of the market is described and analyzed in detail.

The instruments covered include:
∗ Traditional debt instruments such as bills, CDs, and bankers acceptances
∗ Corporate debt products, including commercial paper and medium–term notes
∗ The new range of securitized products, including short–term asset–backed securities and mortgage–backed securities
∗ Asset–backed CP conduits
∗ Floating–rate notes
∗ Derivative instruments, including short–term interest rate futures and swaps
∗ Repurchase and reverse repurchase agreements

This book is the complete reference work on the global money markets, written by the leading names in the business. The Global Money Markets is vital reading for anyone with an interest in money market products, practices, and mechanics.

Cuprins

About the Authors.

Acknowledgements.

Introduction.

Money Market Calculations.

U.S. Treasury Bills.

Agency Instruments.

Corporate Obligations:Commercial Paper and Medium–Term Notes.

Debt Obligations of Financial Institutions.

Floating–Rate Securities.

Repurchase and Reverse Repurchase Agreements.

Short–Term Mortgage–Backed Securities.

Short–Term Asset–Backed Securities.

Futures and Forward Rate Agreements.

Swaps and Caps/Floors.

Asset and Liability Management.

Bank Regulatory Capital.

Index.

Recenzii

Fabozzi, Mann and Choudhry have written an excellent introduction to the money market. Stigum′s (2002)Money Markethas long been the standard text for this market, so let′s compare. For many readers, Fabozzi, Mann and Choudhry will be the preferred text. At one quarter the length (328 pages vs. 1250), we might call the new book "Stigum Light." This is not a bad thing. Many people don′t have time to read the entire Stigum but can get through the shorter book in a few sittings. If someone has a job interview in a couple days and needs to learn about the money marketfast, they are going to read Fabozzi, Mann and Choudhry.
The book achieves its relative brevity with only a modest sacrificing in depth of detail. Where it compromises is breadth. While Stigum devotes 400 pages to discussing the major players before proceeding to discuss the instruments that are traded, Fabozzi, Mann and Choudhry focus primarily on the instruments.
Coverage is broad, including Treasuries, agencies, corporate debt, financial institutions′ debt, floaters, repos, short–term MBS and ABS, futures, FRA′s, swaps, caps and floors. They also have nice chapters on asset–liability management and on bank capital requirements.
Whereas Stigum has very few formulas, Fabozzi, Mann and Choudhry is modestly more technical, detailing important pricing and yield calculations. These discussions are accompanied by Bloomberg screen shots that show the reader where the information is coming from. As you are reading, you can check the screen to see if an instrument uses an actual/actual or actual/360 basis. You can grab the current swap curve or check when a coupon is next paid. The screen shots put the examples in context and give the reader a sense of being there on a trading floor.
So how should you choose between the two books? Do you want a book you can read in a week or a book you can read in a month? Do you want a definitive text complete with historical insights and wonderful anecdotes, or do you want a practical shortcut? Do you want a book that is mostly non–technical, or do you want one that covers essential formulas accompanied with Bloomberg screen shots? Do you want a book that covers all aspects of the money markets, or do you want one that focuses primarily on the instruments? Both are available. What are you looking for?   ––Riskbook.com

"Fabozzi, Mann and Choudhry have written an excellent introduction to the money market." –– Riskbook.com

Notă biografică

FRANK J. FABOZZI, PhD, CFA, is Editor of the Journal of Portfolio Management and an Adjunct Professor of Finance at Yale University′s School of Management. Dr. Fabozzi is on the board of directors of the Guardian Life family of funds and the BlackRock complex of funds. He earned a doctorate in economics from the City University of New York in 1972 and, in 1994, received an honorary doctorate of humane letters from Nova Southeastern University. Dr. Fabozzi is a Fellow of the International Center for Finance at Yale University.
STEVEN V. MANN is Professor of Finance at the Moore School of Business, University of South Carolina. He has coauthored two previous books and numerous articles in the area of investments, primarily fixed–income securities and derivatives. Professor Mann is an accomplished teacher, winning seventeen awards for excellence in teaching. He also works as a consultant to investment/commercial banks and has conducted training programs for financial institutions throughout the United States.
MOORAD CHOUDHRY is a Vice President in structured finance services with JPMorgan Chase Bank in London. He traded sterling money markets at ABN Amro Hoare Govett Limited and at Hambros Bank Limited. Moorad is a Fellow of the Centre for Mathematical Trading and Finance, City University Business School, and is Editor of the Journal of Bond Trading and Management. He has written several books in the area of fixed–income securities.