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Author: T. Todd Smith Publisher: International Monetary Fund ISBN: 1451848870 Category : Business & Economics Languages : en Pages : 88
Book Description
This paper surveys markets for corporate debt securities in the major industrial countries and the international markets. The discussion includes a comparison of the sizes of the markets for various products, as well as the key operational, institutional, and legal features of primary and secondary markets. Although there are some signs that debt markets may be emphasized in the future by some countries, it remains true that North American debt markets are the most active and liquid in the world. The international debt markets are, however, growing in importance. The paper also investigates some of the reasons for the underdevelopment of domestic bond markets and the consequences of firms shifting their debt financing needs from banks to securities markets.
Author: T. Todd Smith Publisher: International Monetary Fund ISBN: 1451848870 Category : Business & Economics Languages : en Pages : 88
Book Description
This paper surveys markets for corporate debt securities in the major industrial countries and the international markets. The discussion includes a comparison of the sizes of the markets for various products, as well as the key operational, institutional, and legal features of primary and secondary markets. Although there are some signs that debt markets may be emphasized in the future by some countries, it remains true that North American debt markets are the most active and liquid in the world. The international debt markets are, however, growing in importance. The paper also investigates some of the reasons for the underdevelopment of domestic bond markets and the consequences of firms shifting their debt financing needs from banks to securities markets.
Author: OECD Publisher: OECD Publishing ISBN: 9264621598 Category : Languages : en Pages : 66
Book Description
This report provides an assessment of the Swedish corporate bond market and policy recommendations to improve its functioning, drawing from detailed empirical analysis and in-depth interviews with market participants.
Author: Marlene Amstad Publisher: Princeton University Press ISBN: 0691205841 Category : Business & Economics Languages : en Pages : 504
Book Description
A comprehensive, in-depth, and authoritative guide to China's financial system The Chinese economy is one of the most important in the world, and its success is driven in large part by its financial system. Though closely scrutinized, this system is poorly understood and vastly different than those in the West. The Handbook of China’s Financial System will serve as a standard reference guide and invaluable resource to the workings of this critical institution. The handbook looks in depth at the central aspects of the system, including banking, bonds, the stock market, asset management, the pension system, and financial technology. Each chapter is written by leading experts in the field, and the contributors represent a unique mix of scholars and policymakers, many with firsthand knowledge of setting and carrying out Chinese financial policy. The first authoritative volume on China’s financial system, this handbook sheds new light on how it developed, how it works, and the prospects and direction of significant reforms to come. Contributors include Franklin Allen, Marlene Amstad, Kaiji Chen, Tuo Deng, Hanming Fang, Jin Feng, Tingting Ge, Kai Guo, Zhiguo He, Yiping Huang, Zhaojun Huang, Ningxin Jiang, Wenxi Jiang, Chang Liu, Jun Ma, Yanliang Mao, Fan Qi, Jun Qian, Chenyu Shan, Guofeng Sun, Xuan Tian, Chu Wang, Cong Wang, Tao Wang, Wei Xiong, Yi Xiong, Tao Zha, Bohui Zhang, Tianyu Zhang, Zhiwei Zhang, Ye Zhao, and Julie Lei Zhu.
Author: Li L. Ong Publisher: INTERNATIONAL MONETARY FUND ISBN: 9781451861716 Category : Languages : en Pages : 25
Book Description
The objective of this paper is to discuss the key issues relating to the development of local corporate bond markets. We examine the requirements for local corporate bond market development, and compare and contrast experiences across both mature and emerging markets. We suggest that core aspects such as benchmarking, corporate governance and disclosure, credit risk pricing, the availability of reliable trading systems, and the development of hedging instruments are fundamental for improving the breadth and depth of corporate debt markets. The demand and supply of corporate bonds are dependent on factors such as the investor base, both local and foreign, and government policies toward the issuance process and associated costs, as well as the taxation regime. The sequencing of reforms is key to market development.
Author: Fouad Sabry Publisher: One Billion Knowledgeable ISBN: Category : Business & Economics Languages : en Pages : 301
Book Description
What is Bond Market The bond market is a financial market where participants can issue new debt, known as the primary market, or buy and sell debt securities, known as the secondary market. This is usually in the form of bonds, but it may include notes, bills, and so on for public and private expenditures. The bond market has largely been dominated by the United States, which accounts for about 39% of the market. As of 2021, the size of the bond market is estimated to be at $119 trillion worldwide and $46 trillion for the US market, according to the Securities Industry and Financial Markets Association (SIFMA). How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Bond market Chapter 2: Arbitrage Chapter 3: High-yield debt Chapter 4: Bond (finance) Chapter 5: Government bond Chapter 6: Municipal bond Chapter 7: Convertible bond Chapter 8: United States Treasury security Chapter 9: Yield curve Chapter 10: Fixed income Chapter 11: Floating rate note Chapter 12: Mortgage-backed security Chapter 13: Corporate bond Chapter 14: Fixed income arbitrage Chapter 15: Fixed income analysis Chapter 16: Gilt-edged securities Chapter 17: Bond fund Chapter 18: Money market Chapter 19: Inverse floating rate note Chapter 20: GDP-linked bond Chapter 21: Corporate debt bubble (II) Answering the public top questions about bond market. (III) Real world examples for the usage of bond market in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Bond Market.
Author: H. Kent Baker Publisher: Oxford University Press ISBN: 0190877456 Category : Business & Economics Languages : en Pages : 640
Book Description
Debt Markets and Investments provides an overview of the dynamic world of markets, products, valuation, and analysis of fixed income and related securities. Experts in the field, practitioners and academics, offer both diverse and in-depth insights into basic concepts and their application to increasingly intricate and real-world situations. This volume spans the entire spectrum from theoretical to practical, while attempting to offer a useful balance of detailed and user-friendly coverage. The volume begins with the basics of debt markets and investments, including basic bond terminology and market sectors. Among the topics covered are the relationship between fixed income and other asset classes as well as the differences in fundamental risk. Particular emphasis is given to interest rate risk as well as credit risks as well as those associated with inflation, liquidity, reinvestment, and ESG. Authors then turn to market sectors, including government debt, municipal bonds, the markets for corporate bonds, and developments in securitized debt markets along with derivatives and private debt markets. The third section focuses on models of yield curves, interest rates, and swaps, including opportunities for arbitrage. The next two sections focus on bond and securitized products, from sovereign debt and mutual funds focused on bonds to how securitization has increased liquidity through such innovations as mortgaged-and asset- backed securities, as well as collateralized debt-, bond-, and loan obligations. Authors next discuss various methods of valuation of bonds and securities, including the use of options and derivatives. The volume concludes with discussions of how debt can play a role in financial strategies and portfolio creation. Readers interested in a broad survey will benefit as will those looking for more in-depth presentations of specific areas within this field of study. In summary, the book provides a fresh look at this intriguing and dynamic but often complex subject.
Author: Organisation for Economic Co-operation and Development Publisher: OECD ISBN: Category : Business & Economics Languages : en Pages : 256
Book Description
Provides a detailed survey of a largely unexplored territory - the bond markets in the Dynamic Asian Economies of Hong Kong, Korea, Malaysia, Singapore, Taiwan and Thailand.
Author: Mr.Garry J. Schinasi Publisher: International Monetary Fund ISBN: 1451977344 Category : Business & Economics Languages : en Pages : 44
Book Description
This paper identifies factors that contributed to the development and effectiveness of debt securities markets in the major advanced economies. Government securities markets have benefited from their international orientation—debt management is most effective when it is independent of monetary and exchange rate policies; and financial infrastructures should be patterned on the standards of liquidity, transparency, issuing and trading efficiency, and tax treatment. The same degree of consensus does not exist for corporate debt securities markets. The paper identifies six regulatory and market-created factors that help explain why the U.S. corporate debt market has flourished, while corporate debt securities markets elsewhere have only recently begun to develop.
Author: T. Todd Smith
Author: T. Todd Smith
Author: OECD
Author: Marlene Amstad
Author: Li L. Ong
Author: Felice B. Friedman
Author: Fouad Sabry
Author: H. Kent Baker
Author: Organisation for Economic Co-operation and Development
Author: Mr.Garry J. Schinasi
Author: Edward I. Altman