Preface to the 2013 Edition
The earlier editions of Inside the Yield Book which represent Parts II and III of this edition focused on a single bond that was continuously held either to maturity or to some specified horizon. The bond was analyzed in terms of the impact of various coupon reinvestment rates and the effect of capital gains or losses associated with horizon yield changes.
In contrast to the single-bond model, most actual bond investments take the form of portfolios composed of multiple bond holdings and a continually changing bond composition. The return/risk character of bond portfolios generally differs markedly from the return pattern associated with a continuously held single bond.
Both institutional and individual bond portfolios ...
Get Inside the Yield Book: The Classic That Created the Science of Bond Analysis, 3rd Edition now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
