This jargon-busting book describes how the bond and money markets work and how they impact on everyday life. It assumes no specialised prior knowledge of finance theory and provides an authoritative and comprehensive run-down of the workings of the modern financial system.
It's in the money markets where money, or the value of money, can be bought and sold. It's the place where Treasury bills, deposits, repurchase agreements, short-lived mortgages etc, can be traded. These are crucial to the global economy because they provide liquidity funding for the global financial system.
Bond markets operate in the same way but are financial markets where participants can issue new debt or buy and sell existing debt - known as bonds. As with money markets, bond markets are key because they provide money where no money previously existed (think of your mortgage).
Using real world examples from media such as the Financial Times, bestselling author Glen Arnold gives an international perspective on these markets.
Understand key bond and money market terms and banking products
Explore the wide variety of types of markets and their functions eg. LIBOR, gilts, government debt
Gain insight into the main factors influencing prices in the financial markets
Learn how fluctuations in the money markets can affect you and your own money strategies
Glen Arnold has deftly crossed the HE/professional/consumer divide and has had success at all levels. He's the author of Corporate Financial Management, now 4th edition; The FT Guide to Value Investing; The Handbook of Corporate Finance; the bestselling The FT Guide to Investing; The Great Investors; Get Started in Shares.
Preface Part 1: An Overview Chapter 1 - Introduction to Bond and Money Markets Part 2: Bond Markets Chapter 2 - Government Bonds Chapter 3 - Government Bonds around the World Chapter 4 - Corporate Bonds Chapter 5 - Credit Ratings for Bonds Chapter 6 - High-yield and Hybrid Bonds Chapter 7 - International Bonds Part 3: Money Markets Chapter 8 - Interbank and Euro Currency Chapter 9 - Treasury Bills and Commercial Paper Chapter 10 - Repurchase Agreements and Certificates of Deposit Chapter 11 - Bills of Exchange and Banker's Acceptances Part 4: Valuing Bonds and Money Market Instruments Chapter 12 - Financial Concepts and Mathematics Chapter 13 - Bond Valuation Chapter 14 - Money Market Securities Valuation Part 5: Some Variations on a Bond Theme Chapter 15 - Securitisation Chapter 16 - Central Banking Influences on Interest Rates