TAILIEUCHUNG - Lecture Money, banking, and financial markets: Chapter 7 - Stephen G. Cecchetti, Kermit L. Schoenholtz

Chapter 7 - The risk and term structure of interest rates. The purpose of this chapter is: To examine how the issuer and time to maturity affect the price of a bond, and to use our knowledge to interpret fluctuations in a broad variety of bond prices. | Chapter Seven 7- Introduction Changes in bond prices and the associated changes in interest rates, can have a pronounced effect on borrowing costs corporations face. In 1998 we saw the simultaneous increase in some interest rates and decline in others - a rise in what are called interest rate spreads. Changes in the perceived risk of Ford’s and GM’s bonds led to declines in prices. This leads to increases in interest rates and higher corporate borrowing costs. 7- Introduction We must be able to distinguish among many different types of bonds that are traded in financial markets. The purpose of this chapter is: To examine how the issuer and time to maturity affect the price of a bond, and To use our knowledge to interpret fluctuations in a broad variety of bond prices. 7- Ratings and the Risk Structure of Interest Rates Default is one of the most important risks a bondholder faces. In fact, independent companies (rating agencies) have arisen to evaluate the .

• Ngân hàng - Tín dụng
• Financial markets
• Financial system
• Financial institutions
• Central banks
• Monetary policy
• Bond prices
• Lecture Financial markets
• Thị trường tài chính
• Financial futures markets
• Valuation of financial futures
• Interest rate futures
• Lecture Financial markets and institutions
• Financial institutions markets
• Capital markets
• Money markets
• Derivative securities markets
• Futures markets
• Option markets
• Swap markets
• Foreign exchange derivative markets
• Bank management
• Types of Financial Markets
• Securities traded
• Valuation of securities
• Money market yields
• Bond markets
• Municipal bonds
• Mortgage markets
• Primary mortgage market
• Stock markets
• Common stock
• Foreign exchange markets
• Foreign exchange
• Commercial banks
• Financial statements
• Risks at financial institutions
• Market risk
• Exchange rates
• Economics 252
• Efficient markets
• Excess volatility
• Efficient Markets Hypothesis
• Interest rate derivative markets
• Interest rate swaps
• Mortgage backed securities
• Globalization of mortgage markets
• Financial markets and institutions
• The financial system
• Interest rates change
• Financial markets efficient
• Term structure affect interest rates
• The stock market
• The mortgage markets
• The international financial system
• Financial regulation
• Interest rate fundamentals
• Interest rates
• Security valuation