Download An Introduction to Capital Markets: Products, Strategies, by Andrew Chisholm PDF

By Andrew Chisholm

This ebook covers a extensive diversity of latest monetary markets in under four hundred pages. the writer states in advance that he has taught classes in this topic for years, and it fairly exhibits. His reasons are crystal transparent, and the markets are offered in a really logical order and from a world prespective. moreover, the textual content is full of many examples and case stories that actually relief in figuring out. there are many formulation during this booklet, however the point of mathematical sophisticiation by no means is going past algbra.

Downsides? a piece dated and -- for the yankee reader -- written in British English with some of the examples in sterling. individually, I felt this gave the booklet a extra worldwide taste (or flavour) which appeared becoming given the topic.

A final notice, Amazon has the web page count number fallacious. in spite of word list, this booklet is under 450 pages.

Strongly instructed for a person drawn to worldwide finance both with a watch in the direction of buying and selling monetary tools or simply to higher understanded the advanced underpinnings of the trendy worldwide monetary system.

An first-class publication.

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Additional resources for An Introduction to Capital Markets: Products, Strategies, Participants (The Wiley Finance Series)

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In the aftermath the spread between A1/P1 paper and the riskier A2/P2 paper widened to over 100 basis points. The spread stood at only 15 basis points in the late 1990s. The market for lower-rated paper started to dry up as investors moved their money into lower risk, higher credit quality investments. Banks became reluctant to extend standby credit facilities. Some issuers switched to other sources of funds including asset-backed commercial paper which is secured or backed by specific revenue streams.

London’s main competitive advantage was that US dollar accounts held there were not subject to the regulatory regime of the Federal Reserve, in particular to reserve requirements and other laws in place at the time restricting the rate of interest that could be paid on dollar deposits in the US domestic market. The London-based banks recycled the money by making loans to major corporations and governments, and the so-called Eurodollar market was born. The prefix ‘Euro’ in this context is an historical accident and is not related to the new European currency called ‘the euro’ (symbol € ).

In a classic repo transaction: f a security is sold for cash to a counterparty; f with a simultaneous agreement that it will be repurchased on an agreed date in the future at the same price. 28 An Introduction to Capital Markets A classic repo deal involves drawing up a legal contract signed by both parties, although in developed markets the terms and conditions are often highly standardized. The repo market developed in the US but repos have become extremely common in financial markets around the world.

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