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(Wiley finance) Patrick J. Brown - An introduction to the bond markets-John Wile.pdf
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The purpose of the book is to give an introduction to the bond markets to readers who have
an interest in understanding what they are, how they work and how they can be used, but who
do not want to be intimidated by mathematical formulae. As a result it is hoped that readers
will be able to evaluate the appropriateness of investing in the bond markets. This is achieved
by frequently illustrating the points graphically, relegating most of the mathematical formulae
to Appendix A and supplementing the book with a companion website.
The book stands up in its own right without using the website. However, in order to take
full advantage of it, users will need a PC with Excel. The website enables readers to:
enter bond details and calculate expected returns; calculate annuity payments; produce a variety of yield curves and from them project expected interest rates in the future; calculate returns for the reader’s own bond market portfolio of investments, based on a
variety of scenarios about future interest rates and the user’s investment time horizon; etc.
Another objective of this book is to try to demystify at least some of the bond market terminology,
so that it is possible for non-bond market professionals to understand how the instruments
work and to appreciate the expected gains. To illustrate this let us consider two examples.
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