Capital Market Instruments:
Analysis and Valuation
Moorad Choudhry
Didier Joannas
Richard Pereira
Rod Pienaar
Summary
Over the last 30 years, the
capital markets industry has undergone an unprecedented transformation, from an industry
of capital restrictions and limited hedging instruments to one that is now as wildly
diverse as it is dynamic. The increasing complexity of the markets has left many
individuals struggling to keep up with the rate of change and ever-growing options
available to them.
Capital Market Instruments
enables you to keep on track with the latest developments. It contains valuable insights
into practical techniques and applications used today, as well as shedding light on what
can be expected in the future. It also highlights the scope and significance of these
techniques in the marketplace.
As a concise introduction to
some of the important issues in the capital markets, it places emphasis on fixed income
instruments and related products, as well as covering fundamental concepts in equity
market analysis, foreign exchange and money markets, and other derivative instruments.
Capital Market Instruments
will prove an invaluable guide for practitioners and students alike, enabling readers to
understand the latest instruments and models and apply methods that will keep them abreast
with the latest market practices.
Capital Market Instruments is
a concise yet detailed guide to the mathematics of the debt and equity capital markets,
and one that will prove essential reading for current and potential market practitioners.
It emphasizes the practical applications of analytical and valuation techniques that are
fundamental to an understanding of both the bond and equity markets. A wide range of
topics is covered, from yield curve modelling and index-linked bonds to corporate ratio
analysis.
Capital Market Instruments
provides clear understanding of key financial concepts, mathematical techniques and market
analysis, illustrated with worked examples and case studies of real-world events at a
number of investment banks.
The book also includes the
RATE specialist computer application designed to introduce readers to yield curve
construction, vanilla interest rate swaps, and caps. The CD-ROM includes the C++ source
code.
Moorad Choudhry is also the
author of Bond Market Securities.
"The authors have
applied their practical knowledge to produce a text that is concise yet thorough. It will
be extremely valuable both as a beginner's guide and as a work of reference for those more
experienced in the world of capital markets." Ian B. Abrams, Managing Director,
Mizubo International plc
"Moorad Choudhry and
his co-authors have produced a book that provides excellent and comprehensive coverage of
a wide range of traditional and modern derivative securities. Given its content and
user-friendly style, it is sure to become required reading for many courses in
finance." Brian A. Eales, Department of Economics, London Guildhall University
"The complexity of
the markets made simple isa goal this book achieves with enthusiasm - an excellent guide
suitable for practitioners at all levels." Huw Williams, VP, Head of Sales, EMEA
Structured Finance Services, JPMorganChase
"This is a
well-crafted book and a timely addition to the capital markets literature. It deserves a
wide readership." Daniel Shakhani, Global Credit Strategy,Goldman Sachs
422 pages+CD