Bonds : an introduction to the core concepts by Mark Mobius

By Mark Mobius

An advent to the area of bonds, from monetary professional Mark Mobius

a part of The Mark Mobius grasp category, which introduces readers to either the speculation and perform of recent worldwide monetary markets during the eyes of 1 of the main famous and revered fund managers on this planet, Bonds: An creation to the center Concepts cuts in the course of the jargon and mystique of the area of bonds. full of every little thing you want to know the way bonds paintings and the way you should use them, this is often the single ebook you want to utilize the market.

choked with priceless summaries and questions all through, Bonds bargains a complete studying event, illuminated with anecdotes and cartoons that convey the subject material to life.

  • Features transparent definitions of monetary phrases, labored examples of transactions and contracts, and lots more and plenty more
  • Contains every thing you want to be aware of to appreciate the area of bonds, from monetary guru Mark Mobius
  • Features genuine existence anecdotes from Mobius's personal awesome stories within the markets

Compelling studying, Bonds: An creation to the middle Concepts comprises every little thing amateur investors and traders have to clarify the markets, in simple English.

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Extra resources for Bonds : an introduction to the core concepts

Example text

Ratings are based on information supplied by the issuer of the debt or financial obligation and from other reliable sources. A rating is assigned only if adequate information is available. The rating process takes various business, technological, and regulatory factors into account. An issuer’s operating and financial plans, along with its management policies, are reviewed, among other things. For sovereign ratings, the country’s economic strength, political system, and social environment are examined.

If the banks pay higher rates to borrow, this tends to be passed on to their customers. Higher rates have the effect of slowing the economy. The Fed can also impact interest rates by changing the reserve requirements—the requirement banks have to hold money in reserve as a percentage of their outstanding loans or deposit liabilities. A higher reserve amount means that the bank must keep more money with the Fed and thus has less money to lend. This, of course, can cause the cost of money, the interest rates, to rise.

This may be good news for those who plan to buy and hold new bonds offering those higher rates, but not for those holding bonds bound at lower interest rates. Falling prices for bonds paying lower rates are a downside of rising interest rates. When an economy starts sliding into recession, central banks and government try to engineer interest rate declines to encourage more borrowing and stimulate the economy. This is good for holders of existing bonds that are yielding the higher rate, but not for those who bought bonds at the new lower rate.

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