Fixed-Income Securities provides a survey of modern methods for pricing and hedging fixed-income securities in the presence of interest rate risk. Modern theory of finance provides a wealth of new approaches to the important question of interest rate risk management, and this book brings them together in a comprehensive and thorough treatment of the subject. Structured in an accessible manner, the authors begin by focusing on pricing and hedging certain cash flows, before moving on to consider pricing and hedging uncertain cash flows. In addition to the theoretical explanation, the authors provide numerous real-world examples and applications throughout. Fixed-Income Securities
- Provides comprehensive coverage of pricing and hedging fixed-income securities
- Contains numerous real-world examples and applications
- Offers an accessible and well-structured exposition of a technically difficult area
Fixed-Income Securities will be of interest to both finance practitioners and students.
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