Leveraged financial markets : a comprehensive guide to high-yield bonds, loans, and other instruments

The high-yield debt market (junk bonds) is a major sector of the financial industry, with more than $600 billion traded annually, and interest in the market is on the rise Features the insights of Marty Fridson (Fridson Vision), Sam DeRosa (CSFB High-Yield), Peter Tufano (Harvard University), and Darrell Duffie (Stanford University), among others Includes models for analyzing probabilities of default and recovery Part I: Market Structure. Chapter 1. The High Yield Market -- Chapter 2. The Globalization Of The High-yield Market -- Chapter 3. Bond Ratings -- Part Ii: High-yield Bonds. Chapter 4. High-yield Bonds As An Asset Class -- Chapter 5. The Issuers And Investors In The High-yield Bond Market -- Chapter 6. Bond Indentures And Bond Characteristics -- Chapter 7. Default And Migration Probabilities Of High-yield Bonds -- Chapter 8. Analyzing A High-yield Debt Issuance -- Chapter 9. Valuation Of Callable, Floating And Pik High Yield Instruments -- Chapter 10. Analytical Model Of Default Probabilities -- Part Iii: High-yield Bonds At The Portfolio Level. Chapter 11. Managing A High-yield Portfolio -- Chapter 12. Monitoring A High-yield Portfolio -- Chapter 13. High Yield Index Products -- Chapter 14. Aggregate Market Valuation -- Part Iv: Leveraged Loans And Cdos. Chapter 15. Leveraged Loans As An Asset Class -- Chapter 16. The Issuers And Investors In Leveraged Loans -- Chapter 17. Collateralized Debt Obligations And Securitization -- Part V: Distressed Debt. Chapter 18. Recovery Rates On Defaulted Bonds -- Chapter 19. Analyzing The Credit Risk Of Distressed Securities -- Chapter 20. Debtor-in-possession Financing -- Chapter 21. Vulture Investing. Part Vi: Credit Derivative Swaps; Chapter 22. Credit Derivative Swaps. William Maxwell, Mark Shenkman. Includes Bibliographical References (p. 405-410) And Index. A guidebook that provides you with what you need to navigate the highyield market in the integrated global economy. It gives you the insight and strategies you need to: use the Sharpe ratio to measure the return versus risk for high-yield debt; develop and oversee a portfolio of high-yield bonds; and, value individual high-yield issuances.