FIXED INCOME SECURITIES BRUCE TUCKMAN 3RD PDF

Fixed income practitioners need to understand the conceptual frameworks of their field; to master its quantitative tool-kit; and to be well-versed in its cash-flow and pricing conventions. The book presents theory without unnecessary abstraction; quantitative techniques with a minimum of mathematics; and conventions at a useful level of detail. The book begins with an overview of global fixed income markets and continues with the fundamentals, namely, arbitrage pricing, interest rates, risk metrics, and term structure models to price contingent claims. Subsequent chapters cover individual markets and securities: repo, rate and bond forwards and futures, interest rate and basis swaps, credit markets, fixed income options, and mortgage-backed-securities.

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Would you like to tell us about a lower price? If you are a seller for this product, would you like to suggest updates through seller support? Fixed income practitioners need to understand the conceptual frameworks of their field; to master its quantitative tool-kit; and to be well-versed in its cash-flow and pricing conventions. The book presents theory without unnecessary abstraction; quantitative techniques with a minimum of mathematics; and conventions at a useful level of detail.

The book begins with an overview of global fixed income markets and continues with the fundamentals, namely, arbitrage pricing, interest rates, risk metrics, and term structure models to price contingent claims.

Subsequent chapters cover individual markets and securities: repo, rate and bond forwards and futures, interest rate and basis swaps, credit markets, fixed income options, and mortgage-backed-securities.

Fixed Income Securities, Third Edition is full of examples, applications, and case studies. Practically every quantitative concept is illustrated through real market data. This practice-oriented approach makes the book particularly useful for the working professional.

This third edition is a considerable revision and expansion of the second. Most examples have been updated. The chapters on fixed income options and mortgage-backed securities have been considerably expanded to include a broader range of securities and valuation methodologies. Also, three new chapters have been added: the global overview of fixed income markets; a chapter on corporate bonds and credit default swaps; and a chapter on discounting with bases, which is the foundation for the relatively recent practice of discounting swap cash flows with curves based on money market rates.

Read more Read less. Frequently bought together. Add all three to Cart. These items are shipped from and sold by different sellers. Show details. Ships from and sold by Amazon SG. FREE Delivery. Customers who viewed this item also viewed. Page 1 of 1 Start over Page 1 of 1. Previous page. Next page. From the Inside Flap Both working professionals and newcomers to the broad, complex, and competitive field of fixed income will appreciate the approach of authors Bruce Tuckman and Angel Serrat in this Third Edition, namely: theory and conceptual frameworks presented intuitively and without unnecessary abstraction; quantitative models and techniques developed with a minimum of mathematical complexity; institutional structures and market conventions described at a useful level of detail; and ideas clearly and profusely illustrated with market data, realistic examples, applications, and case studies.

Fixed Income Securities, Third Edition begins with an overview of global fixed income markets, focusing on those in the United States, Europe, and Japan. Who borrows and who lends? How big are the various players and markets? How has the financial crisis manifested itself? With the institutional background set, Part One of the book lays the foundations of fixed income pricing, namely, the arbitrage pricing of securities with fixed cash flows and the various ways to quote interest rates and returns.

Part Two then describes interest rate risk and hedging, including: one-factor approaches DV01, duration, and convexity ; multi-factor approaches key rate '01s and durations, partial '01s and PV01, and forward-bucket '01s ; and empirical approaches regression and principal component analyses. Part Three shows how to price interest rate derivatives. It starts with the fundamentals, the arbitrage pricing of contingent claims and the determination of the shape of the yield curve, and then continues on to one-factor short-rate models.

Part Four builds on the earlier parts of the book to present and analyze many other markets and securities, including repo, interest rate futures and derivatives, note and bond futures, interest rate and basis swaps, fixed income options, corporate bonds, credit default swaps, mortgages, and mortgage-backed securities.

This part also contains a chapter explaining the industry's relatively recent shift from LIBOR to OIS discounting and another chapter on the practicalities of curve construction. Fixed Income Securities, Third Edition has been written in such a way as to bring a necessarily complex subject matter--developed over years by leading academics and practitioners--to a broad audience of investors, traders, and other working finance professionals.

This audience will indeed find this book an invaluable collection of tools for today's markets. It is obvious that the authors not only understand and articulate theory with ease, but also enjoy its application to myriad simple and complicated instruments.

Buck Professor of Finance, Emeritus, Graduate School of Business, Stanford University "It takes authors who have both insight into financial economics and a thorough understanding of how markets function to write a book that integrates theory and practice so effortlessly. As market turmoil forces us to revisit historical relationships, the book's setting of applications and data in the context of sound theory is particularly useful.

Professionals will find valuable insights in the authors' treatment of advanced topics; students will value the careful organization and presentation of ideas. I recommend it very highly indeed.

Professor of Investment Banking, The Wharton School, University of Pennsylvania "This is a great reference book for fixed income students and practitioners alike, which seamlessly combines mathematical concepts with practical applications. Moving to the industry, he became a managing director at Salomon Brothers' Fixed Income Proprietary Trading Group; ran research groups at Credit Suisse and Lehman Brothers; and, for the Prime Services Division at Barclays Capital, was global head of research and an executive committee member.

Prior to joining the industry, he was a member of the finance faculty at The University of Chicago's Graduate School of Business. He was an executive director of strategy groups at Goldman Sachs and Credit Suisse, and later became a managing director at JPMorgan's global proprietary positioning business as a portfolio manager and head of strategy.

He is currently a partner at Capula Investment Management, a fixed income asset management firm. Read more. Customers who bought this item also bought. Options, Futures, and Other Derivatives. Advances in Financial Machine Learning. Marcos Lopez de Prado. No customer reviews. How does Amazon calculate star ratings? The machine learned model takes into account factors including: the age of a review, helpfulness votes by customers and whether the reviews are from verified purchases.

Review this product Share your thoughts with other customers. Write a customer review. Most helpful customer reviews on Amazon. Verified Purchase. I got this book for my finance class. Material is good but I guess the author did not explain thing well enough. I had to watch YouTube video to understand material.

The author describes fixed income detailedly but understandably. This book is lighter than expected. This shipment is fast and the condition of this book is pretty good even like brand new! Includes relevant topics for practitioners. It is comprehensive enough, with useful tools and avoiding extensive matemathical developments. Fair price vrs similar books. Tuckman and Serrat are extremely intelligent and have written a great book here. I have not gotten through all of it but this book explains the securities and markets throughout the world well.

The Introduction gives the best overview of today's fixed income market I have ever read. Part 1 to Part 3 is classic with updated examples. These three parts have educated a whole generation of MBAs and "quants. The authors successfully bridge theory and practice.

If you want to have just one book on Fixed Income, this is the one. Go to Amazon. Back to top. Get to Know Us. Shopbop Designer Fashion Brands. Alexa Actionable Analytics for the Web.

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Fixed Income Securities: Tools for Today's Markets, 3rd Edition

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Fixed Income Securities : Tools for Today's Markets

Would you like to tell us about a lower price? If you are a seller for this product, would you like to suggest updates through seller support? Fixed income practitioners need to understand the conceptual frameworks of their field; to master its quantitative tool-kit; and to be well-versed in its cash-flow and pricing conventions. The book presents theory without unnecessary abstraction; quantitative techniques with a minimum of mathematics; and conventions at a useful level of detail. The book begins with an overview of global fixed income markets and continues with the fundamentals, namely, arbitrage pricing, interest rates, risk metrics, and term structure models to price contingent claims. Subsequent chapters cover individual markets and securities: repo, rate and bond forwards and futures, interest rate and basis swaps, credit markets, fixed income options, and mortgage-backed-securities.

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