No Slide Title
... • RALLY BEGAN IN OCTOBER: NOT EVERYTHING IS A BARGAIN NOW • WATCH REVENUE RELIABILITY, NEAR-TERM DEBT ...
... • RALLY BEGAN IN OCTOBER: NOT EVERYTHING IS A BARGAIN NOW • WATCH REVENUE RELIABILITY, NEAR-TERM DEBT ...
19 - Commercial Real Estate Analysis and Investment
... 2) Buy shorter-term bonds, then reinvest when they mature. o But then she would be subject to “reinvestment risk”: o The mkt interest rates at which she will have to reinvest might be lower when the short-term bonds mature. 3) Buy longer-term bonds (>5yrs maturity), and sell them in 5 yrs. o But the ...
... 2) Buy shorter-term bonds, then reinvest when they mature. o But then she would be subject to “reinvestment risk”: o The mkt interest rates at which she will have to reinvest might be lower when the short-term bonds mature. 3) Buy longer-term bonds (>5yrs maturity), and sell them in 5 yrs. o But the ...
Euro High Yield Bond Class A-sek h
... The fund invests mainly in high-yield bonds, contingency and convertible bonds primarily issued by companies of the EU, OECD-countries or any other of Western or Eastern Europe, Asia, Oceania, the American countries or Africa, and denominated in Euro. The investment strategy is active. The currency ...
... The fund invests mainly in high-yield bonds, contingency and convertible bonds primarily issued by companies of the EU, OECD-countries or any other of Western or Eastern Europe, Asia, Oceania, the American countries or Africa, and denominated in Euro. The investment strategy is active. The currency ...
Chapter 2: The Basics of Supply and Demand Elasticities of Supply
... Deadweight loss – net loss of total (consumer plus producer) surplus Economic efficiency – the maximization of aggregate consumer and producer surplus The share of a tax borne by consumers depends on the shapes of the supply and demand curves and, in particular, on the relative Elasticities of ...
... Deadweight loss – net loss of total (consumer plus producer) surplus Economic efficiency – the maximization of aggregate consumer and producer surplus The share of a tax borne by consumers depends on the shapes of the supply and demand curves and, in particular, on the relative Elasticities of ...
Chapter 3 Delineating Efficient Portfolios
... find the optimal percentage in each asset, take the derivative of the risk equation with respect to Xc ...
... find the optimal percentage in each asset, take the derivative of the risk equation with respect to Xc ...
JPMorgan Funds - US High Yield Plus Bond Fund SICAV Range
... •• The Fund invests primarily in below investment grade USD denominated debt securities. •• The Fund is therefore exposed to single country, distressed debt securities, credit, interest rate risks which may affect the price of bonds, currency and liquidity risks. Pertaining to investments in below i ...
... •• The Fund invests primarily in below investment grade USD denominated debt securities. •• The Fund is therefore exposed to single country, distressed debt securities, credit, interest rate risks which may affect the price of bonds, currency and liquidity risks. Pertaining to investments in below i ...
EDITOR`S CORNER Managing Investments for
... possible investments is many times larger than when we are locked into the conventional obsession with peer groups (or, for that matter, immunization). This blended approach strengthens our ability to select attractive investments at sensible levels of risk. An investor should demand acceptable risk ...
... possible investments is many times larger than when we are locked into the conventional obsession with peer groups (or, for that matter, immunization). This blended approach strengthens our ability to select attractive investments at sensible levels of risk. An investor should demand acceptable risk ...
Risk Management and Financial Institutions
... where xi and xj are yield curve shifts considered for delta To avoid too many numbers being produced one possibility is consider only i = j Another is to consider only parallel shifts in the yield curve and calculate convexity Another is to consider the first two or three types of shift given by a p ...
... where xi and xj are yield curve shifts considered for delta To avoid too many numbers being produced one possibility is consider only i = j Another is to consider only parallel shifts in the yield curve and calculate convexity Another is to consider the first two or three types of shift given by a p ...
Bank Loans vs. Global High Yield
... the portfolio management services, research and other resources of Brandywine Global Investment (Europe) Limited, an affiliate. Fixed income securities are subject to credit risk and interest rate risk. High yield, lower-rated, fixed income securities involve greater risk than investment-grade fixed ...
... the portfolio management services, research and other resources of Brandywine Global Investment (Europe) Limited, an affiliate. Fixed income securities are subject to credit risk and interest rate risk. High yield, lower-rated, fixed income securities involve greater risk than investment-grade fixed ...
Chapter 21
... Monetary Policy Curve Has an Upward Slope • The key reason for an upward sloping MP curve is that central banks seek to keep inflation stable • Taylor principle: To stabilize inflation, central banks must raise nominal interest rates by more than any rise in expected inflation, so that r rises when ...
... Monetary Policy Curve Has an Upward Slope • The key reason for an upward sloping MP curve is that central banks seek to keep inflation stable • Taylor principle: To stabilize inflation, central banks must raise nominal interest rates by more than any rise in expected inflation, so that r rises when ...
UST Curve: Belly`s too big
... flight to safety and sharply lower inflation expectations over the medium term. In terms of the curve, the belly has outperformed the wings with the 2Y/5Y/10Y butterfly spread compressing close to zero. We reckon 5Y UST yields are too low relative to 2Y and 10Y yields and see scope for the butterfly ...
... flight to safety and sharply lower inflation expectations over the medium term. In terms of the curve, the belly has outperformed the wings with the 2Y/5Y/10Y butterfly spread compressing close to zero. We reckon 5Y UST yields are too low relative to 2Y and 10Y yields and see scope for the butterfly ...
Components of total risk
... -‐ If returns are normally distributed, they are completely described by their mean and variance. So investors can choose portfolios based solely on the mean and variance. Thus, investors will prefer portf ...
... -‐ If returns are normally distributed, they are completely described by their mean and variance. So investors can choose portfolios based solely on the mean and variance. Thus, investors will prefer portf ...
Market Segmentation Theory
... Preferred Habitat Theory The Preferred Habitat Theory is an extension of the Market Segmentation Theory. The Preferred Habitat Theory allows market participants to trade outside of their preferred maturity if adequately compensated for the additional risk. The Preferred Habitat Theory allows for hu ...
... Preferred Habitat Theory The Preferred Habitat Theory is an extension of the Market Segmentation Theory. The Preferred Habitat Theory allows market participants to trade outside of their preferred maturity if adequately compensated for the additional risk. The Preferred Habitat Theory allows for hu ...
Read More - Prudent Management Associates
... reasons for this trend. A common explanation is that there is an abundance of available worldwide cash to fund capital needs. Further, advances in technology have made capital investment more efficient, so that less capital is required today to support the same level of GDP growth as in the past. In ...
... reasons for this trend. A common explanation is that there is an abundance of available worldwide cash to fund capital needs. Further, advances in technology have made capital investment more efficient, so that less capital is required today to support the same level of GDP growth as in the past. In ...
The Yield Curve`s Ability to Predict a Recession in the US and Abroad
... the term premium since the financial crisis in 2008 can be attributed to two changes in the nature of interest rate risk: 1. The declining volatility of Treasury yields, and 2. The increasing value of bonds as a hedge against risks from holding other assets (correlation between bond prices and stock ...
... the term premium since the financial crisis in 2008 can be attributed to two changes in the nature of interest rate risk: 1. The declining volatility of Treasury yields, and 2. The increasing value of bonds as a hedge against risks from holding other assets (correlation between bond prices and stock ...
Fund Details Ulland AUM : $200 million Strategy Assets : $140
... On April 1, 2002, Ulland Investment Advisors began offering the Defensive Growth style to a limited number of clients so that the style would be seasoned before being generally offered. Performance is shown on a time-weighted basis as calculated in Axys portfolio software. Performance is presented g ...
... On April 1, 2002, Ulland Investment Advisors began offering the Defensive Growth style to a limited number of clients so that the style would be seasoned before being generally offered. Performance is shown on a time-weighted basis as calculated in Axys portfolio software. Performance is presented g ...
Chapter 6
... TR, RR, and CWI are useful for a given, single time period What about summarizing returns over several time periods? ...
... TR, RR, and CWI are useful for a given, single time period What about summarizing returns over several time periods? ...
Nuveen High Yield Municipal Bond Fund
... Average Call Protection is a provision in a bond's indenture setting a certain period of time during which the bond cannot be redeemed by the issuer. Average Effective Maturity is the weighted average of the effective maturity dates of the fixed-income securities in the Fund's holdings. A bond's eff ...
... Average Call Protection is a provision in a bond's indenture setting a certain period of time during which the bond cannot be redeemed by the issuer. Average Effective Maturity is the weighted average of the effective maturity dates of the fixed-income securities in the Fund's holdings. A bond's eff ...
on one asset relative to alternative assets
... the amount that people are willing to buy (demand) equals the amount the people are willing to sell (supply) at a given price ...
... the amount that people are willing to buy (demand) equals the amount the people are willing to sell (supply) at a given price ...
Monopsony - NYU Stern
... raises the price of all units he buys since additional units of the good are only offered at higher prices and there is only a single price for all units sold. Thus, the monopsonist’s marginal expenditure (ME) lies above the supply curve. (Again, this is directly analogous to the case of the monopol ...
... raises the price of all units he buys since additional units of the good are only offered at higher prices and there is only a single price for all units sold. Thus, the monopsonist’s marginal expenditure (ME) lies above the supply curve. (Again, this is directly analogous to the case of the monopol ...
A-View-from-the-Desk
... extension risk has manifested itself in degraded market values, portfolio managers have been looking to reduce exposure to longer duration callable agencies to mitigate extension risk from future increases in interest rates. Other portfolio managers looked to harvest gains in the portfolio, even at ...
... extension risk has manifested itself in degraded market values, portfolio managers have been looking to reduce exposure to longer duration callable agencies to mitigate extension risk from future increases in interest rates. Other portfolio managers looked to harvest gains in the portfolio, even at ...
Risk and Return
... What is the portfolio rate of return? Portfolio Rate of Return = wIBM rIBM wSBUX rSBUX wW rW ...
... What is the portfolio rate of return? Portfolio Rate of Return = wIBM rIBM wSBUX rSBUX wW rW ...