The Strategic Bond Investor: Strategies and Tools to Unlock the Power of the Bond Market

by Crescenzi, Anthony

• ISBN13: 9780071667319
• ISBN10: 0071667318
• Edition: 2nd
• Format: Hardcover
• Copyright: 2010-07-12
• Publisher: McGraw-Hill Education

Summary

Uncover the newest profit opportunities in today's bond marketplace!The Strategic Bond Investorexplains how to maximize your investing returns with bondsone of the few reliable and stable investments left standing after all the economic chaos. Senior vice president and portfolio manager at PIMCO, Anthony Cescenzi provides an aggressive yet risk-conscious approach you can easily build into your overall trading strategy in the fixed-income market.Completely updated to address the realities of an unpredictable economy,The Strategic Bond Investorincludes new sections on the parallels between the credit and bond markets, the power of the New Fed, and ways to navigate the massive price fluctuations of the post-credit-crisis markets. In addition, you'll find: Detailed description of different bond types Concrete data on how each one performs in various environments Key economic reports on how market factors like the credit crisis affect bond movements Techniques for forecasting the Fed's next moveso you can stay a step ahead of changing interest rates Ways of using the yield curve and other indicators to predict the direction of the markets and the economyThe Strategic Bond Investoris a fully rounded education on bond investing, providing you with the know-how for safe, dependable investing nowand well into the future.Table of ContentsChapter 1.The Importance of the Bond Market Chapter 2.Segments of the Bond Market Chapter 3.Types of Bonds Chapter 4.CDOs, CLOs, MBS, CDX, and Other New Nomenclature Chapter 5.The Money Market: Epicenter of the Bond and Credit Markets Chapter 6.Bond Market Basics Chapter 7.Risks in Bonds and Credit Markets to Investors Chapter 8.The New Fed and Its Immense Power Chapter 9.The Yield Curve: The Bond Market's Crystal Ball Chapter 10.The Seven Tenets of Successful Investing in the Bond Market Chapter 11.Bond Strategies, from Ladders to Barbells Chapter 12.From Tulips to Treasuries: Tracking Market Sentiment Chapter 13.Using the Futures Market to Gather Market Intelligence Chapter 14.Credit Ratings: Tool or Trouble Chapter 15.Colossal Credit Crisis Chapter 16.How to Track the Bond and Credit Markets Chapter 17.Appendix on Major Economic and Top-Down Indicators

Author Biography

Anthony Crescenzi is a Senior Vice President, Market Strategist, and Portfolio Manager at PIMCO. Previously, he was the Chief Bond Market Strategist at Miller Tabak + Co., LLC, where he advised many of the nation's top institutional investors on issues related to the bond market, the economy, and other macro-related issues. His work on the economy and markets has reached as far as the White House, where in 2003 he participated in a roundtable discussion.

Crescenzi makes regular appearances on financial television stations, such as Maria Baritromo's "Wall Street Journal Report" on NBS, as well as those on CNBC and Bloomberg, and he is frequently quoted across the news media. Crescenzi is the author of three McGraw-Hill books: Investing From the Top Down: A Macro Approach to Capital Markets, Stigum's Money Market, and The Strategic Bond Investor. Crescenzi, who has taught classes on the bond market at Baruch College's Executive MBA Program, is a regular contributor to TheStreet.com's Real Money, which is paid subscription content.

Table of Contents

Foreword	p. ix
The Importance of the Bond Market	p. 1
The Composition and Characteristics of the Bond Market	p. 27
Bond Basics: Building Blocks and Warning Labels	p. 63
Types of Bonds	p. 81
Risks Facing Today's Bond Investors: Asset Diversification Does Not Equal Risk Diversification	p. 111
Don't Fight the Fed: The Powerful Role of the Federal Reserve	p. 139
The Yield Curve: The Bond Market's Crystal Ball	p. 175
Real Yields: Where Real Messages Can Be Found	p. 197
The Five Tenets of Successful Interest Rate Forecasting	p. 215
From Tulips to Treasuries: Tracking Market Sentiment to Forecast Market Behavior	p. 251
Using the Futures Market to Gather Market Intelligence	p. 275
Credit Ratings: An Essential Tool for Bond Investors	p. 293
Bond Strategies	p. 313
How Interest Rates Have Shaped the Political Landscape	p. 323
Utilizing Economic Data to Improve Your Investment Performance	p. 341
Appendix. Handbook of Economic Data: Power Tools for Investors	p. 351
Endnotes	p. 401
Index	p. 403
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