The Global Money Markets 1st Edition by Frank J. Fabozzi (PDF)

Description

An informative look at the world of short-term investing and borrowingThe 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.

User’s Reviews

Editorial Reviews: Review Fabozzi, Mann and Choudhry have written an excellent introduction to the money market. Stigum’s (2002) Money Market has long been the standard text for this market, so let’s compare. For many readers, Fabozzi, Mann and Choudhry will be the preferred text. At one quarter the length (328 pages vs. 1250), we might call the new book “Stigum Light.” This is not a bad thing. Many people don’t have time to read the entire Stigum but can get through the shorter book in a few sittings. If someone has a job interview in a couple days and needs to learn about the money market fast, they are going to read Fabozzi, Mann and Choudhry.The book achieves its relative brevity with only a modest sacrificing in depth of detail. Where it compromises is breadth. While Stigum devotes 400 pages to discussing the major players before proceeding to discuss the instruments that are traded, Fabozzi, Mann and Choudhry focus primarily on the instruments.Coverage is broad, including Treasuries, agencies, corporate debt, financial institutions’ debt, floaters, repos, short-term MBS and ABS, futures, FRA’s, swaps, caps and floors. They also have nice chapters on asset-liability management and on bank capital requirements.Whereas Stigum has very few formulas, Fabozzi, Mann and Choudhry is modestly more technical, detailing important pricing and yield calculations. These discussions are accompanied by Bloomberg screen shots that show the reader where the information is coming from. As you are reading, you can check the screen to see if an instrument uses an actual/actual or actual/360 basis. You can grab the current swap curve or check when a coupon is next paid. The screen shots put the examples in context and give the reader a sense of being there on a trading floor.So how should you choose between the two books? Do you want a book you can read in a week or a book you can read in a month? Do you want a definitive text complete with historical insights and wonderful anecdotes, or do you want a practical shortcut? Do you want a book that is mostly non-technical, or do you want one that covers essential formulas accompanied with Bloomberg screen shots? Do you want a book that covers all aspects of the money markets, or do you want one that focuses primarily on the instruments? Both are available. What are you looking for? –Riskbook.com From the Inside Flap The money markets are the vital conduit through which government and corporate finances are raised and invested. Global capital flows-essential to the continuing development of the world’s economy-hinge on the smooth functioning of the money markets. The Global Money Markets is the first concise, detailed account of this most essential element of the capital markets. The principal objective of this book is to give you a clear picture of how the money markets operate and how they function to provide the liquid, instant market that is required in today’s electronic age. Comprehensive content takes you from introductory-level issues to the most intricate details of advanced topics. This book covers all aspects of today’s markets and the range of instruments used around the world. It includes vanilla products such as bills and commercial paper as well as securitized products such as asset-backed commercial paper. Further developments, including short-term asset-backed securities, are also covered, as is the full range of money market derivatives. Rounding out the discussion of money market products, practices, and mechanics, The Global Money Markets also covers such topics as repo, banking ALM, and regulatory capital in extensive detail. The Global Money Markets is the ultimate guide to the world’s money markets: essential reading for practitioners and students alike. From the Back Cover The Global Money Markets is the ultimate and most comprehensive guide to the world’s money markets and the products that make up this vital element of the global economy. Written in a clear, accessible style, and including the most up-to-date information, this book is a great resource for all finance professionals, including market traders, salespeople, and corporate treasurers. For the first time, this book brings together the complete range of products used in markets around the world. Through extensive use of real-world examples, case studies, and Bloomberg screens, every aspect of the market is described and analyzed in detail. The instruments covered include: * Traditional debt instruments such as bills, CDs, and bankers acceptances * Corporate debt products, including commercial paper and medium-term notes * The new range of securitized products, including short-term asset-backed securities and mortgage-backed securities * Asset-backed CP conduits * Floating-rate notes * Derivative instruments, including short-term interest rate futures and swaps * Repurchase and reverse repurchase agreements This book is the complete reference work on the global money markets, written by the leading names in the business. The Global Money Markets is vital reading for anyone with an interest in money market products, practices, and mechanics. About the Author FRANK J. FABOZZI, PhD, CFA, 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. STEVEN V. MANN 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, primarily fixed-income securities and derivatives. Professor Mann is an accomplished teacher, winning seventeen awards for excellence in teaching. He also works as a consultant to investment/commercial banks and has conducted training programs for financial institutions throughout the United States. MOORAD CHOUDHRY is a Vice President in structured finance services with JPMorgan Chase Bank in London. He traded sterling money markets at ABN Amro Hoare Govett Limited and at Hambros Bank Limited. Moorad is a Fellow of the Centre for Mathematical Trading and Finance, City University Business School, and is Editor of the Journal of Bond Trading and Management. He has written several books in the area of fixed-income securities. Read more

Reviews from Amazon users which were colected at the time this book was published on the website:

⭐The Kindle editions do not accurately convey the formulae in the book, they turn out to be garbled text. So if you are looking to be able to read the math heavy sections of this book, stick to print editions or the Google Books eBook edition that is a scanned copy and retains the formatting of the math equations correctly.

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