Contents
Interest Rates in Textbook Theory
Two Cash Flows, Many Money Market Rates
A History Lesson on Money Market Certificates
The Future: Hourly Interest Rates?
The Story of TIGRS, CATS, LIONS, and STRIPS
Yields to Maturity on Zero-Coupon Bonds
Horizon Yields and Holding-Period Rates of Return
Changes in Bond Prices and Yields
Credit Spreads and the Implied Probability of Default
Prices and Yields on Coupon Bonds
Bond Prices and Yields to Maturity in a World of No Arbitrage
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