A bond calculation quick reference, complete with context and application insights

Bond Math is a quick and easy resource that puts the intricacies of bond calculations into a clear and logical order. This simple, readable guide provides a handy reference, teaching the reader how to think about the essentials of bond math. Much more than just a book of formulas, the emphasis is on how to think about bonds and the associated math, with plenty of examples, anecdotes, and thought-provoking insights that sometimes run counter to conventional wisdom. This updated second edition includes popular Bloomberg pages used in fixed-income analysis, including the Yield and Spread Analysis page, plus a companion website complete with an Online Workbook of multiple choice questions and answers and spreadsheet exercises. Detailed coverage of key calculations, including thorough explanations, provide practical guidance to working bond professionals.

The bond market is the largest and most liquid in the world, encompassing everything from Treasuries and investment grade corporate paper to municipals and junk bonds, trading over $900 billion daily in the U.S. alone. Bond Math is a guide to the inevitable calculations involved in managing bonds, with expert insight on the portfolios and investment strategies that puts the math in perspective. Clear and concise without sacrificing detail, this book helps readers to:

  • Delineate the characteristics of different types of debt securities
  • Calculate implied forward and spot rates and discount factors
  • Work with rates of return, yield statistics, and interest rate swaps
  • Understand duration-based risk measures, and more

Memorizing formulas is one thing, but really learning how to mentally approach the math behind bonds is something else entirely. This approach places calculations in context, and enables easier transition from theory to application. For the bond professional seeking a quick math reference, Bond Math provides that and so much more.

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September 4th, 2017

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3 Comments

  • Anonymous says:

    I work in Fixed Income, but this was the first text that I have used to delve deeply into the subject the concepts and formulas that are so often discussed. This book covers everything from the basic bond math behind zero coupon bonds, which most traditional finance texts harp on, to the more complex ideas of floaters, swaps and fixed income strategies. The text is robust, and provides detailed formulas, concepts and theories, that coupled with the additional problems provided by the Q&A make…

  • Anonymous says:

    Bond Math is an excellent resource for learning the theory and math behind fixed income securities. It’s clear, well written, and incorporates helpful real-world examples and problems that really help the reader grasp the concepts and formulas. Also very helpful are the online problem sets (with detailed answers that walk through how to arrive at the correct answer) that accompany each chapter and are offered through the Wiley website. I would highly recommend this book for anyone looking to…

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