Titlebook: Capital Market Instruments; Analysis and Valuati Moorad Choudhry,Didier Joannas,Rod Pienaar Book 2010Latest edition Moorad Choudhry, Didier

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Fixed Income Securities III: Credit Analysis, Bond Spreads and Relative Value Measurement payments as well as redeem the debt on maturity. Essentially the . is the main risk of holding a bond. Only the highest-quality government debt, and a small number of supra-national issues, may be considered to be entirely free of credit risk. Therefore, at any time, the yield on a bond reflects in