Intuitive and mathematically simple. From the very first sentences of Fixed Income Securities, 2nd ed, author and fixed income veteran Bruce Tuckman explains what makes his book so refreshingly straighforward. Tuckman provides an in-depth examination of the pricing and hedging of fixed income securities - a necessarily complex and calculation heavt subject without cutting corners or overlooking crucial concepts. Yet he explains it in terms that all investors, traders, and financial professionals can understand.

Fixed Income Securities, second edition presents the essential concepts and tools developed by today's most renowned and respected practitioners and academics, from convexity and the futures-forward difference through mean reversion and risk premium to arbitrage and risk-neutral pricing. Employing a step-by-step and user-frinedly strategy to explain one of the financial world's most complex and competitive field,s Fixed Income Securities, 2nd ed addresses many important topics on the pricing and hedging of fixed income securities, including :

* spot and forward interest rates

* curve fitting

* duration and partial durations

* the shape of the term structure

* short-rate models

* special financing

* delivery options

* floating cash flows

* the prepayment optuon and more



Fixed Income Securities, 2nd ed approaches a theoritically demanding feld from the working professional's point of view. This second edition adds a myriad of examples, applications, and case studies to illustrate the practical uses of difficult concepts. From swaps of spreads, and basis trades, this hands-on guide goes straight to the heart of fixed income knowledge and provides a template for trading and investing in the twentyfirst-century marketplace.



About the author:



Bruce Tuckman, PhD, is a managing director in the fixed income and derivatives division of credit suisse first Boston. After receiving his doctorate in economics from MIT, he became a professor of finance at New York University's Stern School of Business and a visiting professor at UNCLA's Andreson Graduate School of Management. He began his Wall Street carrer at Salomon Brothers's Fixed Income Proprietary Trading Group.