O'Reilly logo

The Handbook of Fixed Income Securities, Eighth Edition, 8th Edition by Steven V. Mann, Frank J. Fabozzi

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

CHAPTERFIVEMACRO-ECONOMIC DYNAMICS AND THE CORPORATE BOND MARKET

STEVEN I. DYM, PH.D.

PresidentMariner Capital Partners

Perhaps more than any other sector in the capital markets, corporate bonds are profoundly affected by the dynamics of the macro-economy. Movements in interest rates, inflation, yield-curve shape and corporate earnings are all driven in large part by the business cycle. These variables, and their volatilities, all play a role in the determination of corporate bond yields and prices, and their derivatives. This chapter explains these various roles and their interactions. It begins with a short synopsis of practical macro-economics.1

THE MACRO-ECONOMY

Real Gross Domestic Product, or GDP, represents the total value of goods and ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required