(2008). "Secondary market pricing behaviour around UK bond auctions". Applied Financial Economics. Vol.18. pp. 691-699.Farooq Ahmad & James Steeley, 2008. " Secondary market pricing behaviour around UK bond auctions ," Applied Financial Economics , Taylor & Francis Journals, vol. 18(9), ...
Syndicate trading and secondary market pricing We next assess relations between the syndicate's decision to overallocate offerings and secondary market outcomes, including net syndicate purchases, syndicate profitability, and changes in bond prices subsequent to the offer date, while controlling for bond ...
We offer secondary market insurance in two ways:Institutional investors and broker-dealers may call our Secondary Market Desk at 212 408 6067 for secondary market insurance, subject to our approval process. Users of Bloomberg Terminals can find indicative insurance pricing and availability information ...
Bond PricingBond prices are determined by 5 factors:par value coupon rate market interest rates accrued interest credit rating of the issuerGenerally, the issuer sets the price and the yield of the bond so that it will sell enough bonds to supply the amount that it desires. The higher the ...
We investigate the pricing implications of the parallel trading of loans and bonds of the same firm. We show that loan, by making lenders share sensitive information about the borrower with the loan market participants, lower the information advantage of the asset managers affiliated to the lender...
Again, bonds pay a fixed coupon yield, so if interest rates in the open market move higher, the fixed coupon on an existing bond will be less attractive, so its price will fall accordingly (and vice versa). This is a tricky concept to understand, so if you’re new to bond pricing an...
Text : The secondary market provides liquidity to the individuals or institutions that have acquired the bonds, which are now able to sell off the bonds before the maturity date, should they wish to do so. The trading of bonds in the secondary market creates a market pricing of the bonds ...
theyaretradedandanalyzedinthemarket.Thegoalofthistutorialistoexplainthemorecomplexaspectsoffixed-incomesecurities.Wellreinforceandreviewbondfundamentalssuchaspricingandyield,explorethetermstructureofinterestrates,anddelveintothetopicsofdurationandconvexity.(Note:Althoughtechnicallyabondisafixed-incomesecuritywithamaturity...
Bond Pricing: Other “Soft” Characteristics The empirical characteristics outlined above affect bond issues, especially in the primary market. There are other, however, bond characteristics that can affect bond pricing, especially in the secondary markets. These are: ...
There are two top models used in pricing bond options. These models include the Black-Derman-Toy Model and the Black Model. The variables used in both are primarily the same. The key variables involved in bond option pricing will include the spot price, forward price, volatility, time to ex...