The first book of this series described the general characteristics of different traded instruments, including their basic purpose and the cash flows during their life cycles. In this book, we describe the important elements or features of major types of instruments, and we describe important measures used to describe and evaluate instruments. In addition, we describe important participants who invest, trade, or make markets in different types of instruments.1

We also describe the markets in which each instrument trades because the markets for equities and bonds are distinctly different. In fact, the markets for different types of bonds are different from one another. For anyone interested in detailed analysis of specific securities ...

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