An Introduction to International Capital Markets: Products, by Andrew M. Chisholm

By Andrew M. Chisholm

Totally revised and up to date from the highly well known first variation, this publication is an available and handy one-volume advent to foreign capital markets, perfect for these getting into or making plans to go into funding banking or asset administration. in addition to serving as a useful reference device for execs already operating within the trying to expand their wisdom base it is going to additionally gain all these operating in buying and selling, revenues and help roles.

Describing how the main items and markets paintings, who the main individuals are and their total pursuits and goals, Andrew Chisholm offers a radical evaluate of the worldwide capital markets. The e-book covers a variety of fairness, debt, foreign currencies and credits tools in addition to the imperative by-product items. In a step by step type, making broad use of actual global situations and examples, it explains funds markets, foreign currency, bond markets, money fairness markets, fairness valuation strategies, swaps, forwards, futures, credits derivatives, innovations, alternative danger administration and convertible bonds. an intensive word list additionally explains concisely a number of the ‘jargon’ expressions utilized in the monetary markets.

Boasting a world concentration, examples are drawn from significant overseas markets around the globe. It makes large use of numerical examples and case stories to aid clarify a variety of funds and spinoff items utilized in the capital markets enterprise. It covers either debt and fairness items and contains new fabric on credits items similar to collateralized debt tasks and credits spinoff constructions; fairness primary research, portfolio thought and convertible bonds. industry information has been absolutely up-to-date from the 1st variation and up to date occasions resembling the ‘credit drawback’ are mentioned.

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Extra info for An Introduction to International Capital Markets: Products, Strategies, Participants

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Any coupon payments due on the collateral are not paid over separately; they are incorporated into the forward repurchase price and therefore paid at the termination of the agreement rather than on the actual coupon dates. 22 CHAPTER SUMMARY The money markets are markets for short-term borrowing and lending of funds for maturities up to one year. Domestic markets are regulated by central banks such as the Federal Reserve in the US, the European Central Bank in the eurozone, and the Bank of England in the UK.

16 An Introduction to International Capital Markets The main investors are organizations (and some individuals) with surplus cash to invest, including: • insurance companies, pension funds, mutual funds; • the treasury departments of large multinational corporations; • governments, their agencies, state and regional authorities. Money dealers working for banks and securities houses around the world bring borrowers and investors together by helping to create an active and liquid market for money market instruments.

Strains in financial markets have increased significantly and labor markets have weakened further. Economic growth appears to have slowed recently, partly reflecting a softening of household spending. Tight credit conditions, the ongoing housing contraction, and some slowing in export growth are likely to weigh on economic growth over the next few quarters. Over time, the substantial easing of monetary policy, combined with ongoing measures to foster market liquidity, should help to promote moderate economic growth.

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