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The Handbook of Municipal Bonds
Author(s): Sylvan G. Feldstein (Author), Frank J. Fabozzi (Author)
- Publisher: Wiley
- Publication Date: April 25, 2008
- Edition: 1st
- Language: English
- Print length: 1376 pages
- ISBN-10: 9780470108758
- ISBN-13: 9780470108758
Book Description
Editorial Reviews
Review
From the Inside Flap
Over the past twenty years, the municipal bond industry has seenenormous growth and undergone dramatic change. With more municipalsoutstanding than ever, it’s fair to say that the municipal debtmarket continues to constantly evolve.
That’s why you need a comprehensive guide covering thisfast-changing field. In The Handbook of Municipal Bonds, editorsSylvan Feldstein and Frank Fabozzi provide traders, bankers, andadvisors–among other industry participants–with awell-rounded look at the industry of tax-exempt municipal bonds.Chapter by chapter, a diverse group of experienced contributorswill share their expertise in this area with you.
In addition to covering credit research, portfolio manage-ment, and critical legal and tax issues, this book will introduce you toa variety of new innovations in financial structures. These includecredit default swaps, derivatives, tender option bonds, collateralized debt obligations, and much more. You’ll alsodiscover how to effectively implement these instruments in youreveryday financial endeavors as well as learn why both buyers andissuers must pay close attention to the risks found within thisevolving market.
Along with a comprehensive glossary of municipal bondterminology, this book also contains an extensive array of casestudies that offer information on some of the most innovative andessential aspects of these bonds. The cases cover a wide range oftopics arising from the 9/11 catastrophe, subprime loans, a majorairline bankruptcy, and others. They are relevant for both buyersand issuers of municipal bonds.
Divided into seven comprehensive parts, The Handbook ofMunicipal Bonds provides detailed explanations and a variety ofrelevant examples that illuminate crucial components and essentialareas such as:
- The Sell Side: deals, distribution, and market-makingroles
-
The Buy Side: institutional investors
-
Credit analysis
-
Compliance issues
-
Fixed income analysis of municipal products
-
Special security structures and their analysis
-
Bond Insurers
Municipal bonds offer attractive opportunities for both retailand institutional investors. But to make the most of them, you needa firm understanding of the many elements that make up this market.With The Handbook of Municipal Bonds as your guide, you’ll learnhow to efficiently integrate “munis” into your investmentportfolio.
From the Back Cover
Over the past twenty years, the municipal bond industry has seen enormous growth and undergone dramatic change. With more municipals outstanding than ever, it’s fair to say that the municipal debt market continues to constantly evolve.
That’s why you need a comprehensive guide covering this fast-changing field. In The Handbook of Municipal Bonds, editors Sylvan Feldstein and Frank Fabozzi provide traders, bankers, and advisors among other industry participants with a well-rounded look at the industry of tax-exempt municipal bonds. Chapter by chapter, a diverse group of experienced contributors will share their expertise in this area with you.
In addition to covering credit research, portfolio manage-ment, and critical legal and tax issues, this book will introduce you to a variety of new innovations in financial structures. These include credit default swaps, derivatives, tender option bonds, collateralized debt obligations, and much more. You’ll also discover how to effectively implement these instruments in your everyday financial endeavors as well as learn why both buyers and issuers must pay close attention to the risks found within this evolving market.
Along with a comprehensive glossary of municipal bond terminology, this book also contains an extensive array of case studies that offer information on some of the most innovative and essential aspects of these bonds. The cases cover a wide range of topics arising from the 9/11 catastrophe, subprime loans, a major airline bankruptcy, and others. They are relevant for both buyers and issuers of municipal bonds.
Divided into seven comprehensive parts, The Handbook of Municipal Bonds provides detailed explanations and a variety of relevant examples that illuminate crucial components and essential areas such as:
- The Sell Side: deals, distribution, and market-making roles
- The Buy Side: institutional investors
- Credit analysis
- Compliance issues
- Fixed income analysis of municipal products
- Special security structures and their analysis
- Bond Insurers
Municipal bonds offer attractive opportunities for both retail and institutional investors. But to make the most of them, you need a firm understanding of the many elements that make up this market. With The Handbook of Municipal Bonds as your guide, you’ll learn how to efficiently integrate “munis” into your investment portfolio.
About the Author
SYLVAN G. FELDSTEIN, PHD, is a Director in the Investment Department of the Guardian Life Insurance Company of America, specializing in tax-exempt, taxable, and non-U.S. municipal bonds. Prior to this, he was a research manager and analyst at major Wall Street broker-dealers and a rating agency. A graduate of Columbia University, Feldstein has won the Analyst of the Year Award from the National Federation of Municipal Analysts in addition to authoring or editing four other municipal bond industry books.
FRANK J. FABOZZI, PHD, CFA, is Professor in the Practice of Finance at Yale University’s School of Management and the Editor of the Journal of Portfolio Management. In 2002, he was inducted into the Fixed Income Analysts Society Hall of Fame and, in 2007, was the recipient of the C. Stewart Sheppard Award given by the CFA Institute.
