Risk Management

219 Posts

Book Review: Opening Credit

Book Review: Opening Credit

Focusing on traded credit, the authors lay out the basic principles of fundamental corporate credit analysis and illustrate the key elements with recent examples. They explain why credit analysis should be focused on management rather than reported financial results. To be useful to credit analysts, financial results should be adjusted to reflect the company’s “economic behavior.” The authors also discuss common company manipulations and effective methods for dealing with these manipulations. Read more

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Global Inflation-Linked Bonds: A Primer

Global Inflation-Linked Bonds: A Primer

Michael Pond, CFA, delivered an interesting primer on inflation-linked debt at the recent CFA Institute Fixed-Income Management Conference. So what are inflation-linked bonds? They are most typically debts issued by sovereign nations whose nominal interest rate is adjusted, either up or down, by an inflation measure. Read more

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