About this Book
LIKE ITS PREDECESSORS, the fundamental objective of this edition of Introduction to Option-Adjusted Spread Analysis is to provide a clear description of how OAS analysis handles the vexing problem of evaluating a fixed-income security whose future redemption date and payment stream are influenced by interest rates through the presence of an implicit embedded option.
In presenting the subject matter, basic concepts are presented first and are built upon in a step-by-step fashion. Wherever possible, modeling subtleties unrelated to the concepts and logic underlying the analysis have been omitted in the interest of clarity. As such, this text should not be construed as a comprehensive description of the Bloomberg lognormal OAS or ...

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