投资学chap2课件.pptVIP

Asset Classes and Financial Instruments;2.1 THE MONEY MARKET;Major Classes of Financial Assets or Securities;Money Market Instruments;Money Market Instruments;Figure 2.1 Money Rates;Table 2.2 Components of the Money Market;Figure 2.2 Treasury Bills;Figure 2.3 Spreads on CDs and Treasury Bills;2.2 THE BOND MARKET;Bond Market;Treasury Notes and Bonds;Figure 2.4 Treasury Notes and Bonds;Federal Agency Debt;Municipal Bonds;Figure 2.5 Outstanding Tax-exempt Debt;Municipal Bond Yields;Table 2.3 Equivalent Taxable Yields;Figure 2.6 Ratio of Yields on Tax-exempts to Taxables, 1955-2006 ;Corporate Bonds;Figure 2.7 Investment Grade Bond Listings;Developed in the 1970s to help liquidity of financial institutions Proportional ownership of a pool or a specified obligation secured by a pool Market has experienced very high rates of growth;Figure 2.8 Mortgage-Backed Securities Outstanding;2.3 EQUITY SECURITIES;Equity Markets;Figure 2.9 Stock Market Listings;2.4 STOCK AND BOND MARKET INDEXES;There are several indexes worldwide such as: Dow Jones Industrial Average (DJIA) Nikkei Average Offer ways of comparing performance of managers Base of derivatives; Representative? Broad or narrow? How is it weighted? Price weighted (DJIA) Market weighted (SP 500, NASDAQ) Equal (Value Line Index);Table 2.4 Data to Construct Stock Price Indexes;DJIA Price-Weighted Average ;SP’s Composite 500 Market Value-Weighted Index;Value LineEqually Weighted Index;Examples of Other Indexes - Domestic;Figure 2-10 Comparative Performance of Several Stock Market Indexes;Examples of Indexes - International;Table 2.6 Sample of MSCI Stock Indexes;2.5 DERIVATIVE MARKETS;Derivative Securities