Ebook: Leveraged Finance: Concepts, Methods, and Trading of High-Yield Bonds, Loans, and Derivatives

A timely guide to today’s high-yield corporate debt markets Leveraged Finance is a comprehensive guide to the instruments and markets that finance much of corporate America. Presented in five sections, this experienced author team covers topics ranging from the basics of bonds and loans to more advanced topics such as valuing CDs, default correlations among CLOs, and hedging strategies across corporate capital structures. Additional topics covered include basic corporate credit, relative value analysis, and various trading strategies used by investors, such as hedging credit risk with the equity derivatives of a different company. Stephen Antczak, Douglas Lucas, and Frank Fabozzi present readers with real-market examples of how investors can identify investment opportunities and how to express their views on the market or specific companies through trading strategies, and examine various underlying assets including loans, corporate bonds, and much more. They also offer readers an overview of synthetic and structured products such as CDS, LCDS, CDX, LCDX, and CLOs. Leveraged Finance has the information you need to succeed in this evolving financial arena.Content:
Chapter 1 Introduction (pages 1–7):
Chapter 2 The High?Yield Bond Market (pages 9–37):
Chapter 3 Leveraged Loans (pages 39–79):
Chapter 4 Collateralized Loan Obligations (pages 81–104):
Chapter 5 CLO Returns (pages 105–131):
Chapter 6 CLO Portfolio Overlap (pages 133–157):
Chapter 7 Credit Default Swaps and the Indexes (pages 159–183):
Chapter 8 Index Tranches (pages 185–199):
Chapter 9 Recessions and Returns (pages 201–210):
Chapter 10 Framework for the Credit Analysis of Corporate Debt (pages 211–233):
Chapter 11 Trading the Basis (pages 235–261):
Chapter 12 How Much Should You Get Paid to Take Risk? (pages 263–282):
Chapter 13 Default Correlation: The Basics (pages 283–309):
Chapter 14 Empirical Default Correlations: Problems and Solutions (pages 311–334):