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21

 

Blackwell Publishing (Visit publisher website)

2005

English

 

 

 

Non-Technical

 

 

Market risk, investment management, financial intermediaries, primary securities market, public offerings, firm commitments, best-effort selling, private placements, Rule 144a offerings, secondary securities market, organized exchanges, New York Stock Exchange, American Stock Exchange, over-the-counter markets, National Association of Security Dealers Automated Quotation system, bid-ask spreads, information flow, mutual funds, insurance companies, pension funds, commercial banks, thrift institutions

 

From the book - Many financial intermediaries play an important role in the debt markets. Investment banking firms market debt securities on behalf of issuers. Dealers make markets in the resale (secondary) market. Brokers act as agents for buyers and sellers in the resale markets. Mutual funds, insurance companies, pension funds, commercial banks, and thrifts are large lenders in the debt markets. The purpose of this chapter is to describe the major functions of these intermediaries in the debt markets.

 

3.1 Initial Sale of Securities (Primary Market)
3.2 Dealers and Brokers (Secondary Market)
3.3 Mutual Funds
3.4 Insurance Companies
3.5 Pension Funds
3.6 Commercial Banks and Thrifts
3.7 Comparing Types of Debt Financing
3.8 Summary
3.9 Questions and Problems

 

If you are interested in purchasing the book, please click here.

 

This book provides an introduction to bond markets and bond derivatives for students as well as for executives in commercial businesses and financial institutions. It also:

Presents the essential elements of debt instruments in an intuitive manner;
Covers updated institutional material, new sections on callable bonds and the yield to call, convertible bonds, and methods for estimating and modern models of term structure of interest rates, as well as a comprehensive discussion of bonds in the European Economic Union;
Includes additional end-of-chapter questions, PowerPoint slides, and an Instructor`s text bank through the author`s website: http://bear.cba.ufl.edu/livingston