Leveraged Finance: Concepts, Methods, and Trading of High-Yield Bonds, Loans, and Derivatives

About the Authors

Stephen J. Antczak is an Executive Director within the UBS Fixed Income Research Department, and currently heads the Leveraged Finance Strategy team. He has worked in a strategy capacity for over 14 years across a broad range of markets, including the cash and synthetic government markets, the investment-grade corporate market, and the high-yield bond, loan, and derivative markets. His research is widely followed by both institutional and retail investors, and is often cited by various media outlets and in academic forums. In addition to providing commentary on leverage finance, he has developed proprietary models for identifying and taking advantage of dislocations within and across various asset classes. Mr. Antczak also has extensive experience in portfolio creation, optimization, and hedging. Prior to joining UBS in 2001, Mr. Antczak was a senior strategist at Merrill Lynch, and has also worked at the Bureau of Labor Statistics as an economist. Stephen graduated from the University of Michigan with a B.A. in economics, and an M.B.A. in business economics. He was awarded Chartered Financial Analyst status in 1999.

 

Douglas J. Lucas is the Group Managing Director and Manager of Ratings Research at Moody’s Investor Service since November 2008. Prior to that, he was an Executive Director at UBS and head of CDO Research. His CDO team was ranked #1, #2, and #3 from 2005 through 2008 by Institutional Investor. His prior positions include head of CDO research at ...