From the book - This chapter reviews some of the basic features of bond pricing and bond portfolio management. For many, the material of this chapter will be strictly review. The chapter begins by considering alternative yield concepts and some of the instruments of the bond market that will be ... click here for more details.
From the book - This chapter explores futures contracts on physical commodities, those written on agricultural, energy, and metallurgical commodities. [The chapter] begins with an overview of the basic characteristics of commodities that will affect futures prices. [T]he Cost-of-Carry Model is the dominant conceptual framework for understanding futures prices, [although] ... click here for more details.
From the book - This chapter explores the options market of the United States. In 1973, the Chicago Board Options Exchange (CBOE) began trading options on individual stocks. Since that time the options markets have experienced rapid growth, with the creation of new exchanges and many different kinds of new ... click here for more details.
From the book - To understand foreign exchange futures trading, this chapter begins with a brief discussion of the markets for foreign exchange: the spot, forward, and futures markets. Next, we review the most important factors in determining exchange rates between two currencies, including the exchange rate regimes of fixed ... click here for more details.
From the book - [This chapter] covers institutional features of the market in greater detail. These details are critical for those wishing to trade futures or to understand the markets at a deeper level. This chapter also examines exchange competition, electronic trading, market manipulation, and current issues facing the futures ... click here for more details.
From the book - This chapter examines the fundamental factors that affect futures prices in general. There is little doubt that the determinants of foreign exchange futures prices and orange juice futures prices, for example, are very different. We must also recognize, however, that a common thread of understanding links ... click here for more details.
From the book - This chapter explores one of the most successful and exciting innovations in the history of futures markets – the emergence of interest rate futures contracts. Since the first contracts were traded on October 20, 1975 on the Chicago Board of Trade (CBOT), the market has expanded ... click here for more details.
From the book - The T-bond contract is perhaps the most important futures contract ever devised. It also happens to be one of the most complicated. Further, it has provided the conceptual basis for many important interest rate futures contracts that trade in markets around the world. We begin this ... click here for more details.
From the book - We first describe the institutional character of the market for options on futures. Next, we consider pricing principles. As we will see, prices of options on futures are closely related to prices of options on the underlying good. We discuss some of the problems in determining ... click here for more details.