Chapter 19 The Analysis and Valuation of Bonds(投资分析与投资组合管理)解析.pptVIP

下载本文档

11
0
约1.44万字
约 62页
2016-11-04 发布于湖北
举报
版权申诉

Chapter 19 The Analysis and Valuation of Bonds(投资分析与投资组合管理)解析.ppt

1、原创力文档（book118）网站文档一经付费（服务费），不意味着购买了该文档的版权，仅供个人/单位学习、研究之用，不得用于商业用途，未经授权，严禁复制、发行、汇编、翻译或者网络传播等，侵权必究。。
2、本站所有内容均由合作方或网友上传，本站不对文档的完整性、权威性及其观点立场正确性做任何保证或承诺！文档内容仅供研究参考，付费前请自行鉴别。如您付费，意味着您自己接受本站规则且自行承担风险，本站不退款、不进行额外附加服务；查看《如何避免下载的几个坑》。如果您已付费下载过本站文档，您可以点击这里二次下载。
3、如文档侵犯商业秘密、侵犯著作权、侵犯人身权等，请点击“版权申诉”（推荐），也可以打举报电话：400-050-0827(电话支持时间：9:00-18:30)。
4、该文档为VIP文档，如果想要下载，成为VIP会员后，下载免费。
5、成为VIP后，下载本文档将扣除1次下载权益。下载后，不支持退款、换文档。如有疑问请联系我们。
6、成为VIP后，您将拥有八大权益，权益包括：VIP文档下载权益、阅读免打扰、文档格式转换、高级专利检索、专属身份标志、高级客服、多端互通、版权登记。
7、VIP文档为合作方或网友上传，每下载1次，网站将根据用户上传文档的质量评分、类型等，对文档贡献者给予高额补贴、流量扶持。如果你也想贡献VIP文档。上传文档

Lecture Presentation Software to accompanyInvestment Analysis and Portfolio ManagementSeventh Editionby Frank K. Reilly Keith C. Brown Chapter 19 - The Analysis and Valuation of Bonds Questions to be answered: How do you determine the value of a bond based on the present value formula? What are the alternative bond yields that are important to investors? Chapter 19 - The Analysis and Valuation of Bonds How do you compute the following major yields on bonds: current yield, yield to maturity, yield to call, and compound realized (horizon) yield? What are spot rates and forward rates and how do you calculate these rates from a yield to maturity curve? What is the spot rate yield curve and forward rate curve? Chapter 19 - The Analysis and Valuation of Bonds How and why do you use the spot rate curve to determine the value of a bond? What are the alternative theories that attempt to explain the shape of the term structure of interest rates? What factors affect the level of bond yields at a point in time? What economic forces cause changes in bond yields over time? Chapter 19 - The Analysis and Valuation of Bonds When yields change, what characteristics of a bond cause differential price changes for individual bonds? What is meant by the duration of a bond, how do you compute it, and what factors affect it? What is modified duration and what is the relationship between a bond’s modified duration and its volatility? Chapter 19 - The Analysis and Valuation of Bonds What is effective duration and when is it useful? What is the convexity for a bond, how do you compute it, and what factors affect it? Under what conditions is it necessary to consider both modified duration and convexity when estimating a bond’s price volatility? Chapter 19 - The Analysis and Valuation of Bonds What happens to the duration and convexity of bonds that have embedded call options? Chapter 19 - The Analysis and Valuation of Bonds The Fundamentals of Bond Valuation The present-value model The