Fixed Income Securities / Edition 2

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While there are several books published on various aspects of the fixed income market, no other author has offered as detailed an account of the features and investment characteristics of all fixed income sectors. In the Second Edition of Fixed Income Securities, Frank Fabozzi returns to provide comprehensive coverage of a wide range of fixed income securities and their markets. For investors and financial professionals who need to understand the fundamental and unique characteristics of fixed income securities and the bond market, this valuable resource contains all the answers.

Revised and updated to keep pace with today's fast-changing financial markets, this informative Second Edition provides an expert overview of every sector of the fixed income market, including . . .

• U.S. Treasury securities

• Agencies

• Municipal securities

• Asset-backed securities

• Corporate and international bonds

• Mortgage-backed securities, including CMOs

• Collateralized debt obligations (CDOs)

. . . and addresses the vital, related topics of valuation, interest rate risk management, collateralized borrowing, and tax treatment. This in-depth coverage, analysis, and guidance will allow you to maximize returns as you minimize risk in the fixed income marketplace.

Fixed Income Securities, Second Edition also contains special chapters that will prepare financial professionals for even the most complex of fixed income securities situations. These topics include an examination of specific yield measures (yield to maturity, yield to call measures, and yield to put) and spread measures (the nominal spread, zero-volatility spread, and discount margins), as well as an overview of fixed income portfolio management and strategies.

With the increased use of derivatives, 24-hour marketplaces, and electronic trading, the new investing age is filled with new fixed income opportunities and risks. Providing updated facts and proven fixed income formulas, Fixed Income Securities, Second Edition will show you how to take advantage of these opportunities and properly assess the various risks.

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Editorial Reviews

From the Publisher
" overview..." (Banking 2000)
Fixed income securities are examined and investment features of each security are described in this book for investors and financial professionals who need to understand the characteristics of fixed income securities and the bond market. While the bulk of the book is devoted to the securities themselves, there is also an explanation of how securities are valued, yield and yield measures, interest rate risk measures, tax treatment, collateralized borrowing, and an overview of fixed income portfolio management and strategies. Fabozzi is editor of the and teaches finance at Yale University. Annotation c. Book News, Inc., Portland, OR (
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Product Details

  • ISBN-13: 9780471218302
  • Publisher: Wiley
  • Publication date: 12/14/2001
  • Series: Frank J. Fabozzi Series, #8
  • Edition description: REV
  • Edition number: 2
  • Pages: 480
  • Product dimensions: 1.06 (w) x 6.14 (h) x 9.21 (d)

Meet the Author

FRANK J. FABOZZI, PhD, CFP, CPA, 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.

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Table of Contents

About the Author.


Features and Risks of Fixed Income Securities.

Valuation of Fixed Income Securities and the Measurement of Interest Rate Risk.

Yield and Yield Spread Measures.

U.S. Treasury Securities.

Federal Agency Securities.

Municipal Securities.

Senior Corporate Instruments: I.

Senior Corporate Instruments: II.

Agency Mortgage Passthrough Securites.

Agency Collateralized Mortgage Obligations.

Nonagency Mortgage-Backed Securities.

Asset-Backed Securities.

Collateralized Debt Obligations.

International Bonds.

Collateralized Borrowing and Securities Lending.

Tax Treatment.

Introduction to Fixed Income Portfolio Management.

Overview of Fixed Income Portfolio Strategies.


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