Money And Capital Markets

This text analyzes the entire financial system and its component parts with an expanded discussion of the trend toward globalization of financial markets and institutions. It also discusses all major types of financial instruments and provides a grounding in interest price determination.

Essentials of Money and Capital Markets provides students with a comprehensive but concise exploration of financial institutions and financial instruments. The book begins with a discussion of the debt levels in the United States, the variability of interest rates, and the financial crisis of 2007-2009. Over the course of 14 chapters, students learn about the Federal Reserve, the U.S. Treasury, pension plans, mutual funds, banks, determinants of interest rates, time values, money market instruments and rates, and the risks associated with changing interest rates. Dedicated chapters address spot and forward interest rates, arbitrage for bonds, theories of the term structure of interest rates, bond ratings and default risk, mortgages and mortgage-backed securities, futures contracts, and financial futures. The fourth edition features updated coverage of the causes and consequences of the financial crisis of 2007-2009. Featuring class-tested content and insightful coverage, Essentials of Money and Capital Markets is well suited for graduate and upper-level undergraduate courses in business, economics, and finance. Miles B. Livingston is the Bank of America Professor of Finance in the Warrington College of Business at the University of Florida. He holds a Ph.D. and M.B.A. with distinction from New York University and a B.A. from Columbia University. Professor Livingston has taught at the University of Wisconsin, the University of Oregon, Concordia University, York University, the College of William and Mary, Erasmus University, and the University of Melbourne. He has published numerous scholarly articles in a variety of finance journals. In 2005, he was named a Prolific Author in Finance by the Journal of Finance Literature.

Money and Capital Markets provides the most up-to-date, practical coverage of the pricing and analysis of financial instruments and transactions available for Australian and international capital markets. Here you have the underlying tools and techniques for the valuation and risk management of short-term money market and capital market securities and their derivatives. In a clear and direct way, Michael Sherris covers fixed interest securities, forwards, futures, swaps, options and interest rate derivatives (new in the Second Edition). Everything - from yield calculations to tax and horizon effects to interest rate risk measures - is lucidly explained and extensively illustrated with examples. An invaluable reference for money market professionals, Money and Capital Markets is essential reading for tertiary students of finance, accounting and actuarial studies.

Provides a comprehensive view of the whole financial system. This book discuses various major types of financial institutions and financial instruments present along with how and why the system of money and capital markets is changing. It also provides a descriptive explanation of how interest rates and security values are determined.

An informative look at the world of short-term investing and borrowing The Global Money Markets is 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 esteemed Frank J. Fabozzi Series. Comprising nearly 100 titles-which include numerous bestsellers—The Frank J. Fabozzi Series is 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.

The substantially revised fifth edition of a textbook covering the wide range of instruments available in financial markets, with a new emphasis on risk management. Over the last fifty years, an extensive array of instruments for financing, investing, and controlling risk has become available in financial markets, with demand for these innovations driven by the needs of investors and borrowers. The recent financial crisis offered painful lessons on the consequences of ignoring the risks associated with new financial products and strategies. This substantially revised fifth edition of a widely used text covers financial product innovation with a new emphasis on risk management and regulatory reform. Chapters from the previous edition have been updated, and new chapters cover material that reflects recent developments in financial markets. The book begins with an introduction to financial markets, offering a new chapter that provides an overview of risk—including the key elements of financial risk management and the identification and quantification of risk. The book then covers market participants, including a new chapter on collective investment products managed by asset management firms; the basics of cash and derivatives markets, with new coverage of financial derivatives and securitization; theories of risk and return, with a new chapter on return distributions and risk measures; the structure of interest rates and the pricing of debt obligations; equity markets; debt markets, including chapters on money market instruments, municipal securities, and credit sensitive securitized products; and advanced coverage of derivative markets. Each chapter ends with a review of key points and questions based on the material covered.