Table of Contents
Preface xi
Acknowledgments xiii
About the Author & Executive Editor xv
About the Contributors xvii
Part One Introduction and Tools
Chapter 1 The Early 21st-Century Evolution of Global Capital Markets 3 Jack Malvey
Chapter 2 The Role of Global Capital Markets 20 Christian A. Edelmann and Shasheen Jayaweera
Chapter 3 How the Global Financial Crisis Transformed the Industry 52 Christian A. Edelmann and Pete Clarke
Chapter 4 Cash Bonds and Futures 64 Amir Sadr
Chapter 5 Risk in Capital Markets 89 Peter Reynolds and Mike Hepinstall
Chapter 6 Enablers for Robust Risk Management in Capital Markets 110 Swati Sawjiany
Chapter 7 Making Markets Work 120 Eric Czervionke
Part Two Capital Markets Products
Chapter 8 Money Markets 157 Randy Harrison and Paul Mandel
Chapter 9 Repurchase Agreements 184 Karl Schultz and Jeffrey Bockian
Chapter 10 U.S. Treasury and Government Agency Securities 205 Lee Griffin and David Isaac
Chapter 11 Government-Sponsored Enterprises and Federal Agencies 210 David Isaac and Francis C. Reed, Jr.
Chapter 12 Inflation-Linked Bonds 232 Henry Willmore
Chapter 13 Mortgage-Backed Securities 239 Patrick Byrne
Chapter 14 Corporate Bonds 254 Marvin Loh
Chapter 15 Preferred Stock 286 Sarah Swammy
Chapter 16 Distressed Debt Securities 296 Michael McMaster
Chapter 17 Securitization 304 Daniel I. Castro, Jr.
Chapter 18 Asset-Backed Securities 312 Daniel I. Castro, Jr.
Chapter 19 Non-Agency Residential Mortgage-Backed Securities (RMBSs) 329 Daniel I. Castro, Jr.
Chapter 20 Commercial Mortgage-Backed Securities (CMBSs) 348 Daniel I. Castro, Jr.
Chapter 21 Collateralized Debt Obligations (CDOs) 361 Daniel I. Castro, Jr.
Chapter 22 Structured Investment Vehicles (SIVs) 381 Daniel I. Castro, Jr.
Chapter 23 Collateralized Loan Obligations (CLOs) 389 Mendel Starkman
Chapter 24 Municipal Bonds 419 Fred Yosca
Chapter 25 Equities 435 David Weisberger
Chapter 26 Cash Equities in the Secondary Market 458 Eric Blackman and Robert Grohskopf
Chapter 27 Exchange-Traded Funds (ETFs) 469 Reginald M. Browne
Chapter 28 Equity Capital Markets 481 Daniel C. de Menocal, Jr.
Chapter 29 Interest Rate Swaps 503 Amir Sadr
Chapter 30 Interest Rate Options 523 Amir Sadr
Chapter 31 Commodities 548 Bob Swarup
Chapter 32 Currency 571 Simon Derrick
Chapter 33 Conclusion 578 Gary Strumeyer and Christian Edelmann
Index 591