Titlebook: Investing in Corporate Bonds and Credit Risk; Frank Hagenstein,Alexander Mertz,Jan Seifert Book 2004 Palgrave Macmillan, a division of Mac

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https://doi.org/10.1057/9780230523296asset allocation; Bonds; Corporate Bonds; derivatives; Investment; Portfolio; Rating; investments and secur

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colloquial

SPASM

Credit Derivatives,Credit derivatives are probably the most important new mechanism for transferring credit risk. They are over-the-counter products and can therefore be tailored to individual requirements.

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Investment Process,iscussed in great detail in Chapters 3–5. In Chapter 3 we will start with the assessment of the global environment for credits. Generally, the analysis of macroeconomic factors like GDP growth, central bank policies as well as the level, trend and migration velocity of default rates, to name only so

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FUSE

Tactical Asset Allocation,cisions (see Figure 4.1). In this step of the investment process three major subjects are tackled:.When making a decision about the allocation of resources to different spread classes, elements of the top-down analysis clearly have a substantial impact, since the assessment of the fundamental and te

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Credit Research,he borrower’s capacity to repay, the underlying collateral, key factors that affect the earnings situation of a company and traditional ratios to assess the strength of cash flows from operations and the ability of a company to service all debt obligations as well as all limitations of such ratios.

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High-Yield Investing,we will focus on the macroeconomic environment, credit fundamentals, technicals and valuation as the main factors driving the high-yield market. Generally, the main task for high-yield managers is to deal with the inherent credit risk. The importance of idiosyncratic risk relative to systematic risk