Product Description

An investor’s guide to capitalizing on opportunities in the fixed income markets of emerging economies

The fixed income market in emerging countries offers investors the opportunities to enhance investment returns. Investing in Emerging Fixed Income Markets shows you how to identify those opportunities, assess the risk associated with a strategy, and develop an investment discipline for investing in this market. Contributors to this book–experienced financial practitioners, including portfolio managers, traders, and credit analysts–share their insights, advice, and knowledge on a range of topics that will help you make the right investment decisions when operating within emerging fixed income markets.

This comprehensive guide discusses and examines a variety of issues that are relevant to emerging fixed income markets, including:

• Analytical issues in valuing emerging market assets such as the effect of swap spreads on the valuation of floating-rate bonds in emerging markets, the issue of pricing options on pegged currencies, and a methodology that quantifies the dollar differential between emerging market bonds in yield terms
• Coverage of the CE3 European emerging markets and their developments as they adopt new policies in order to join the European Union and adopt the euro
• In-depth discussions of the Brazilian local markets with a detailed analytical account for complex instruments
• And much more

For the financial professional who needs to understand the complex characteristics of emerging fixed income markets, Investing in Emerging Fixed Income Markets offers the most current thinking and best guidance in this area. Take the advice of seasoned professionals and start uncovering the investment opportunities available in emerging fixed income markets today.

Product Details

• Amazon Sales Rank: #1136943 in Books
• Published on: 2002-03-15
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 384 pages

Review
"If you want to learn about some finanacial instrument, institution, theory or practice, see if Frank Fabozzi has written, edited or published on the subject. It is likely to be the definitive work." (Harry M. Markowitz, Nobel Laureate, Economics, 1990)

"Frank Fabozzi's series is the gold standard for investment reference books. Always topical and often influential this is the first place I send students or practitioners when they want to get up to speed on a new area." (Stephen A. Ross, Franco Modigliani Professor of Finance and Economics, Sloan School, MIT)

"The Fabozzi series provides the ultimate educational encyclopedia for the global debt capital markets. Each day, billions of dollars of debt securities trade around the world according to the principles clearly and comprehensively explained in this unrivaled series dedicated to the advancement of our knowledge-based profession." (Jack Malvey, Managing Director, Chief Global Fixed-Income Strategist, Lehman Brothers)

"When in doubt, you can always look it up in a book by Frank Fabozzi. Fabozzi, who's not called the Prolific Professor for nothing, has written or edited dozens of textbooks on investing--all rock-solid, for advanced investors only." (Jason Zwieg, Money.com)

From the Publisher
"If you want to learn about some finanacial instrument, institution, theory or practice, see if Frank Fabozzi has written, edited or published on the subject. It is likely to be the definitive work." (Harry M. Markowitz, Nobel Laureate, Economics, 1990)

"Frank Fabozzi's series is the gold standard for investment reference books. Always topical and often influential this is the first place I send students or practitioners when they want to get up to speed on a new area." (Stephen A. Ross, Franco Modigliani Professor of Finance and Economics, Sloan School, MIT)

"The Fabozzi series provides the ultimate educational encyclopedia for the global debt capital markets. Each day, billions of dollars of debt securities trade around the world according to the principles clearly and comprehensively explained in this unrivaled series dedicated to the advancement of our knowledge-based profession." (Jack Malvey, Managing Director, Chief Global Fixed-Income Strategist, Lehman Brothers)

"When in doubt, you can always look it up in a book by Frank Fabozzi. Fabozzi, who's not called the Prolific Professor for nothing, has written or edited dozens of textbooks on investing--all rock-solid, for advanced investors only." (Jason Zwieg, Money.com)

From the Inside Flap
In the 1990s, emerging markets began to be treated as a separate asset class. Even though there is no formal consensus on the definition of an emerging country, there is an understanding among investors of emerging market characteristics.

Investing in Emerging Fixed Income Markets touches on a variety of topics that are important to investors operating within fixed income emerging markets. This comprehensive guide addresses issues pertaining to the corporate bond market, valuation techniques, credit analysis, and risk management through valuable case studies and an in-depth examination of each topic. There are also chapters that describe local fixed income instruments, particularities of valuations, and arbitrage opportunities in these markets. This guide continues with focused coverage of the lessons learned from the Asian crisis and the effect European emerging markets will have on the European Union and the euro.

Written by experienced practitioners in this field–portfolio managers, traders, and credit analysts–Investing in Emerging Fixed Income Markets provides expert knowledge, advice, and insight on a range of topics, including:

• An in-depth examination of the issues of emerging market corporate bond valuations, the factors to be considered, and the risks that must be closely monitored
• An account from a Brazilian local fixed income trader of the events that took place from the 1997 Asian crisis to the 1999 Brazilian devaluation
• A proposal of new practices for credit analysis and risk management that has been triggered by the 1997 Asian crisis
• Adapting debt covenants to emerging markets
• Analytical issues in valuing emerging market assets, including the effect of swap spreads on the valuation of floating-rate bonds in emerging markets, the issue of pricing options on pegged currencies, and an analytical framework for default probabilities and recovery rates in emerging market bond valuation
• Case studies of the Brazilian company Tevecap and the Asian bank Dao Heng that demonstrate the particularities of emerging market risks

Investing in Emerging Fixed Income Markets shows you how to identify solid investment opportunities, assess risk potential, and develop an investment approach that will identify and capitalize on market opportunities in order to enhance long-term returns. With this book as your guide, you will effectively navigate the complicated world of emerging fixed income markets and consistently come out on top.