The latest research on
index-linked gilts, gilt markets and sterling debt markets presented in an enthusiastic,
readable style
Written by gilt-edged market
makers and dealers to ensure realistic, practical coverage as well as a clear explanation
of the theory, so readers gain from years' experience
Foreword written by Mike
Williams, CEO of the Debt Management Office
The Gilt-Edged Market
is specifically aimed at finance professionals and investors who need to understand the
inner working of the United Kingdom gilt market. There is detailed coverage of the
different gilt instruments, as well as a look at the structures, institutions and
practices of the market itself.
Topics include:
Bond basics
Conventional gilts
Index-linked gilts
Gilt strips
The gilt repo market
The gilt bond future basis
Yield spread trading using gilts
There are also personal
reminiscenes that illustrate the great changes that have occurred in this market since Big
Bang, as well as an exposition on the art of trading.
The Gilt-Edged Market
is ideal reading for traders, salespersons, fund managers, private investors and other
professionals involved to any extent in the UK gilt market.
Readership: Gilt
market participants; Gilt-edged market makers; Brokers; Institutional investors (fund
managers etc); Regulators (Bank of England, Debt Management Office); Corporate treasurers;
Local authority treasurers; Consultants.
Mr. Moorad Choudhry
Vice President, JPMorgan.Moorad Choudhry is a vice-president with JPMorgan in London. He
traded gilts and sterling Eurobonds at ABN Amro Hoare Govett Sterling Bonds Limited and
Hambros Bank Limited, and has worked as a strategy and risk consultant with leading
financial institutions including Citibank, CSFB and Barclays Capital. He is currently
undertaking research towards his doctorate at Birkbeck College, University of London. His
other publications include "The Repo Handbook" and "Capital Market
Instruments: Analysis and Valuation".
Contents:
The gilt-edged market: an
introduction
A primer on bond basics
The gilt-edged market I:
structure and institutions
The gilt-edged market II:
index-linked gilts
The Gilt-edged market III:
the gilt strips market
The gilt repo market
The gilt bond basis
The gilt bond basis II
Information content of the
gilt yield curve
The art of government bond
trading
Approaches to yield spread
trading using gilts
Being some reminiscences of
the gilt market...
Glossary
282 pages