By Handbook of Money and Capital Markets

This is a comprehensive review and analysis of investment instruments and the markets in which they trade. The book focuses attention not only on traditional investment instruments but also pays particular attention to such new instruments as universal commercial paper, collateralized mortgage obligations, securitized automobile loans, money market preferred funds, and zero-coupon investments. The Journal of Commercial Bank Lending Handbook of the Money and Capital Markets is a comprehensive review and analysis of investment instruments and the markets in which they trade. Designed to help investors obtain the best possible return--with the most manageable exposure to risk--from the funds they invest, the book focuses attention not only on traditional investment instruments such as stocks and bonds, Treasury and Ginnie Mae securities, and tax-exempt municipal bonds, but also pays particular attention to new instruments such as universal commercial paper, collateralized mortgage obligations, REMICS, securitized automobile loans, money market preferred funds, and zero-coupon investments. Written for the professional money manager, the corporate treasurer, the financial planner and consultant, as well as the serious private investor, the book clearly illustrates the dynamics of contemporary financial markets with thorough coverage of such topics as recent developments in money and capital markets, selected debt and equity market relationships and concepts, swaps, the bond rating process, adjustable rate mortgages, the underpinnings of basic valuation theory, interest rate spreads and differentials, basic bond portfolio strategies, duration and immunization, both yielding junk bonds, pass-through securities, and insured tax-free bonds. Review ?Dr. Gart's book is a concise and accurate portrayal of the fixed income markets. His up-to-date descriptions of the investment vehicles available in the marketplace make this book a valuable tool for all investors." --Robert J. Christian, Director of Economic and Fixed Income Research, Provident National Bank "The book is thorough, comprehensive and provides an in-depth description of the financial markets and related financial instruments. People involved in the dynamic world of finance will find it a useful reference and source of guidance in investment making decisions. I recommend it both for the professional and the student.?-Rosanne Gatta, Assistant Vice President and Treasurer, Provident Mutual ?Gart's book, valuable to academic audiences, contains useful chapters on US treasury and agency securities, corporate bonds, and tax exempt securities. Separate chapters describe money, capital and mortgage markets, and discuss stock exchanges. There is also an analytical discussion of foreign currency options suitable for supplementary reading in an international finance course. Indeed, the entire book could be used by college libraries as a reference source, and the articles in it as supplementary readings for students of corporate finance, money and banking, and public finance.?-Choice ?Most investment books are for beginners, and many are written to tout one particular strategy or analytical tool. This handbook, however, is aimed at professional investors such as corporate treasurers, financial planners, and money managers. It gives clear and concise but authoritative analyses of almost every conceivable type of financial market and form of investment known to Western capitalism, including not only bonds and stocks (relegated to the last chapter), but investment vehicles scarcely imagined by common dabblers in the money game: variable coupon reservable notes, Yankee CD's, double-barreled bonds, and universal commercial paper, to name a few. The many charts and figures are useful, informative, and well integrated with the text. Chapter summaries, notes, and bibliographies give added value to a very valuable book. Any library with a serious economic or investment