The Repo Handbook (Anglais) Relié – 13 mai 2010
|Neuf à partir de||Occasion à partir de|
- Choisissez parmi 17 000 points de collecte en France
- Les membres du programme Amazon Premium bénéficient de livraison gratuites illimitées
- Trouvez votre point de collecte et ajoutez-le à votre carnet d’adresses
- Sélectionnez cette adresse lors de votre commande
Les clients ayant acheté cet article ont également acheté
Descriptions du produit
Revue de presse
"The most authoritative source on the repo market. Other texts I have seen totally lack Professor Choudhry's clarity of exposure and really important taste for technical detail." ---Matteo Regesta, Interest Rate Strategist, BNP Paribas, London
Présentation de l'éditeur
The Repo Handbook, 2nd edition presents an overview of repo vehicles and markets with sufficient depth for those seeking detailed explanations. In three parts it demonstrates how these secured loans fit into global capital markets and why they account for up to 50% of daily settlement activity in non-US government bonds worldwide. This new edition replaces old examples and introduces new developments, such as structured finance repo and associated topics such as Basel II regulatory rules. In addition, 12 of 18 chapters feature new sections and 4 have been substantially rewritten. The UK gilt and US Treasury repo markets are explored through worked examples, and there are new sections on funding arbitrage trades, risk exposures, and regulatory capital. It also places repo in context within bank asset-liability management and trading techniques, illustrating repo use across a wide range of applications in the global money markets. Rarely mentioned in the financial press because of the simple, straightforward nature of the instrument, repo was often the only funding source available to banks during the last quarter of 2008 and the first in 2009. This book, written by a trader, will draw new attention to this valuable and efficient funding and investment product.
* Describes repo instruments, which appeal to market participants because of their simplicity and malleability
* Explains the institutional treatment of repos, especially in terms of risk, accounting, tax and legal issues, and equity repo
* Details the government bond basis, implied repo rate, and basis trading
Aucun appareil Kindle n'est requis. Téléchargez l'une des applis Kindle gratuites et commencez à lire les livres Kindle sur votre smartphone, tablette ou ordinateur.
Pour obtenir l'appli gratuite, saisissez votre numéro de téléphone mobile.
Détails sur le produit
Commentaires en ligne
Commentaires client les plus utiles sur Amazon.com (beta)
It seems more appropriate to recognize that the principles of the money markets and repo and the mathematics of these markets are universal and timeless as is Marcia Stigum's work.
"Mr. Gagan Singh" writes several negative reviews of other books, but positive reviews of Mr. Choudhry's books. "Mr. Gagan Singh" wrote negative reviews of Ms. Stigum's "The Money Market" and alternately hails from NY, the USA, Capetown or from wherever next this chameleon chooses to hail as the reviews change.
"Matthew Bartlett" is another alias used on two book reviews of Fabozzi's "Collateralized Debt Obligations" book. One of the "Matthew Bartlett" reviews is signed "Moorad Choudhry" and praises the book with 5-stars, but the other review is unsigned and gives the book a one-star review. This is a serious identity crisis.
Ms. Stigum's work on the U.S. markets allows one to allows one to deduce the dynamics - and equips one to solve the mathematics - of the global money markets deserves high honors.
The unsportsmanlike behavior doesn't end there, since it seems that commercially successful books with titles that most closely match Mr. Choudrhy's upcoming releases have multiple one-star and two-star reviews from apparently the same reviewer and from seeming pseudonyms and free internet accounts.
How can one profitably trade from repo, i.e. know what assets will trade 'special'? After all, repo existed well before the GFC but to understand how to make real money from this market does not come down to simply working with your central bank. For this reason I needed to know more, and it is always best to ask someone who has worked in this market.
I have read Moorad Choudhry's "Bond and Money Markets" and "Bank Asset Liability Management" books (both of which I highly recommend), so knowing his experience and clear explanations, with real market examples (i.e. there are a lot of bloomberg screen dumps in all his books) made it an easy choice to purchase this repo book over others.
The "Repo Handbook" starts with a market background of bonds and money markets and evolves into the functions of repo, covering trading, hedging and it's involvement with ALM. I personally prefer the trading examples as I feel one can understand Repo's uses as a market, rather than just reading a few formulas.
Once again Choudhry has written a very practical and essential book for today's market.