Handbook of Emerging Fixed Income and Currency Markets

by Fabozzi, Frank J.; Franco, Alberto

• ISBN13: 9781883249335
• ISBN10: 1883249333
• Edition: 1st
• Format: Hardcover
• Copyright: 1997-08-15
• Publisher: Wiley

Summary

The fixed income markets in emerging countries represent a new and potentially lucrative area of investment for investors. But along with the possibility of big returns, there is a much greater risk. The Handbook of Emerging Fixed Income and Currency Markets shows investors how to identify solid investment opportunities in these markets, assess the risk potential, and develop an investment approach to ensure long-range profits. Featuring contributions from leading experts around the world, this book provides a comprehensive and authoritative guide to these exciting new markets.

Author Biography

Frank J. Fabozzi is a financial consultant, the editor of the Journal of Portfolio Management, and an Adjunct Professor of Finance at Yale University's School of Management.

Table of Contents

Contributing Authors	iv	(1)
Preface	v
1. Introduction	1	(4)
Frank J. Fabozzi
Alberto Franco
2. Emerging Fixed Income and Local Currency: An Investment Management View	5	(24)
Luis R. Luis
3. Integrating Emerging Market Bonds into a Global Portfolio	29	(16)
Steven I. Dym
4. Local Fixed Income Instruments in Latin America	45	(10)
Marcelo Castro
Efstathia Pilarinu
5. Guide to the U.S. High-Yield Market for Corporate Emerging Market Issuers and Investors	55	(10)
Joseph C. Bencivenga
6. Sovereign Credit Ratings: A Primer	65	(12)
David T. Beers
Marie Cavanaugh
7. Rating the Transition Economies	77	(14)
Helena Hessel
8. Challenges in the Credit Analysis of Emerging Market Corporate Bonds	91	(16)
Christopher Taylor
9. Relative Value Concepts within the Eurobond Market	107	(16)
Peter J. Carril
10. Price Sensitivity and Risk Measures for Brady Bonds	123	(10)
Steven I. Dym
11. Local Fixed Income Arbitrage	133	(28)
Marcelo Castro
Efstathia Pilarinu
12. The Emerging Markets Repo Market	161	(10)
Jonathan S. Cooper
13. The Economics of Retiring Brady Debt	171	(16)
Robert S. Gay
14. Infrastructure and Project Financing in Emerging Markets	187	(12)
Paul G. McKeon
15. Exchange Rate Mechanisms in Emerging Markets	199	(16)
Daniel Barkan
Jonathan Silber
16. Options on Exotic Currencies	215	(8)
Alastair W. Sloan
Index	223