April 2011
Beginner
704 pages
21h 44m
English
book
The Theory and Practice of Investment Management: Asset Allocation, Valuation, Portfolio Construction, and Strategies, Second Edition
by Frank J. Fabozzi, Harry M. Markowitz
Content preview from The Theory and Practice of Investment Management: Asset Allocation, Valuation, Portfolio Construction, and Strategies, Second Edition
Steven V. Mann, Ph.D. Professor of Finance The Moore School of Business University of South Carolina
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CHAPTER 18
Spot Rates, Forward Rates, Yield Spreads, and Valuation
Frank J. Fabozzi, Ph.D., CFA, CPA Professor in the Practice of Finance Yale School of Management
In Chapter 17, the valuation of option-free bonds was explained. The valuation of more complex bond structures is the subject of this chapter. To understand valuation models, it is necessary to understand several important concepts: spot rates, forward rates, and yield spread measures. So before we explain models for valuing complex bond structures, we will describe these concepts.
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