An invaluable guide for fixed income practitioners, fully updated to incorporate the shift from LIBOR to SOFR Since its first edition in 2013, Fixed Income Relative Value Analysis: A Practitioner’s Guide to the Theory, Tools, and Trades has become the gold standard for guides linking financial theories with practical analysis tools. The newly revised second edition reflects both the progress in statistical tools over the last decade and the impact of the transition to SOFR on swap spreads. You’ll find a set of statistical and financial tools, a multitude of actual trades resulting from the application of these tools, as well as access to a companion website featuring spreadsheets illustrating some of the models contained in the book. This book covers: Statistical models for quantitative market analysis, in particular mean reversion models and principal component analysis, now including the multivariate Ornstein-Uhlenbeck model. An in-depth approach to understanding swap spreads in theory and practice. A comprehensive discussion of the various basis swaps and their combinations. The incorporation of credit default swaps in yield curve analysis. A classification of option trades into three types and the appropriate analysis tools. Fitted curve techniques for identifying relative value among different bonds. A multi-factor delivery option model for bond future contracts. Fixed Income Relative Value Analysis has proven to be an indispensable desk reference for buy- and sell-side fixed income professionals, including traders, quantitative analysts, portfolio managers, financial engineers, fixed income salespeople with sophisticated clientele and risk managers.
As western governments issue increasing amounts of debt, the fixed income markets have never been more important. Yet the methods for analyzing these markets have failed to keep pace with recent developments, including the deterioration in the credit quality of many sovereign issuers. In Fixed Income Relative Value Analysis, Doug Huggins and Christian Schaller address this gap with a set of analytic tools for assessing value in the markets for government bonds, interest rate swaps, and related basis swaps, as well as associated futures and options. Taking a practitioner’s point of view, the book presents the theory behind market analysis in connection with tools for finding and expressing trade ideas. The extensive use of actual market examples illustrates the ways these analytic tools can be applied in practice. The book covers: Statistical models for quantitative market analysis, in particular mean reversion models and principal component analysis. An in-depth approach to understanding swap spreads in theory and in practice. A comprehensive discussion of the various basis swaps and their combinations. The incorporation of credit default swaps in yield curve analysis. A classification of option trades, with appropriate analysis tools for each category. Fitted curve techniques for identifying relative value among different bonds. A multi-factor delivery option model for bond future contracts. Fixed Income Relative Value Analysis provides an insightful presentation of the relevant statistical and financial theories, a detailed set of statistical and financial tools derived from these theories, and a multitude of actual trades resulting from the application of these tools to the fixed income markets. As such, it’s an indispensable guide for relative value analysts, relative value traders, and portfolio managers for whom security selection and hedging are part of the investment process.
A celebration of Chicago's landmark restaurant Hot Doug's, with history from owner Doug Sohn, essays and anecdotes from patrons, and appreciations from culinary professionals"--Provided by publisher.
SOFR Futures and Options is the practical guide through the maze of the transition from LIBOR. In the first section, it provides an in-depth explanation of the concepts involved: The repo market and the construction of SOFR SOFR-based lending markets and the term rate The secured-unsecured basis SOFR futures and options and their spread contracts Margin and convexity Applying these insights, the second section offers detailed worked-through examples of hedging loans, swaps, bonds, and floors with SOFR futures and options, supported by interactive spreadsheets accessible on the web. The gold standard resource for professionals working at financial institutions, SOFR Futures and Options also belongs in the libraries of students of finance and business, as well as those preparing for the Chartered Financial Analyst exam.
An invaluable guide for fixed income practitioners, fully updated to incorporate the shift from LIBOR to SOFR Since its first edition in 2013, Fixed Income Relative Value Analysis: A Practitioner’s Guide to the Theory, Tools, and Trades has become the gold standard for guides linking financial theories with practical analysis tools. The newly revised second edition reflects both the progress in statistical tools over the last decade and the impact of the transition to SOFR on swap spreads. You’ll find a set of statistical and financial tools, a multitude of actual trades resulting from the application of these tools, as well as access to a companion website featuring spreadsheets illustrating some of the models contained in the book. This book covers: Statistical models for quantitative market analysis, in particular mean reversion models and principal component analysis, now including the multivariate Ornstein-Uhlenbeck model. An in-depth approach to understanding swap spreads in theory and practice. A comprehensive discussion of the various basis swaps and their combinations. The incorporation of credit default swaps in yield curve analysis. A classification of option trades into three types and the appropriate analysis tools. Fitted curve techniques for identifying relative value among different bonds. A multi-factor delivery option model for bond future contracts. Fixed Income Relative Value Analysis has proven to be an indispensable desk reference for buy- and sell-side fixed income professionals, including traders, quantitative analysts, portfolio managers, financial engineers, fixed income salespeople with sophisticated clientele and risk managers.
SOFR Futures and Options is the practical guide through the maze of the transition from LIBOR. In the first section, it provides an in-depth explanation of the concepts involved: The repo market and the construction of SOFR SOFR-based lending markets and the term rate The secured-unsecured basis SOFR futures and options and their spread contracts Margin and convexity Applying these insights, the second section offers detailed worked-through examples of hedging loans, swaps, bonds, and floors with SOFR futures and options, supported by interactive spreadsheets accessible on the web. The gold standard resource for professionals working at financial institutions, SOFR Futures and Options also belongs in the libraries of students of finance and business, as well as those preparing for the Chartered Financial Analyst exam.
Explore over a century of Cardinals baseball in this illustrated tour of the players, teams, ballparks, and historic moments! With a legacy that goes back to the Brown Stockings of the old American Association, the St. Louis Cardinals have one of the longest and greatest traditions in the history of baseball. Winners of ten World Series titles (second only to the New York Yankees) and twenty-one pennants dating back to 1885, the Redbirds have established a dynasty across the decades—from Charlie Comiskey’s four-time AA champs, through the “Gashouse Gang” of the 1930s and the “Runnin’ Redbirds” in the 1980s, up to the 2006 World Champions. Front-office pioneers like Chris von der Ahe and Branch Rickey have put the Cardinals franchise at the forefront of innovation, while bringing in some of baseball’s greatest talent—pitchers Dizzy Dean to Bob Gibson, sluggers Johnny Mize to Mark McGwire, and all-around superstars like Rogers “Rajah” Hornsby, Stan “the Man” Musial, and Albert Pujols. Pairing historic black-and-white photos and contemporary images of the modern game, St. Louis Cardinals: Past & Present explores the ballparks and the fans, the players and the teams that have defined Cardinals baseball.
Faber and Kell" has for over fifty years been accepted as the most practical and comprehensive book on heating and air conditioning design and is regarded as the standard reference book for both students and practitioners. In order to provide up-to-date information, this ninth edition has been revised to include the latest changes to system design and covers many aspects in greater depth, whilst still retaining the character of previous editions. Building services engineers, architects and others involved in the construction industry will find no better place for accessible and easily assimilated information on all aspects of the heating and air conditioning of buildings. revised throughout including a new chapter on natural ventilation and new information on facade engineering including photovoltaics full comparative summary of all air conditioning techniques makes this the essential reference for the professional
Over time, scientists, technologists, and resource managers in affiuent countries have devised and institutionalized methodologies for exploiting and managing natural resources in their own environments with considerable success. In doing so, they have provided models, at least of development and affiuence, that the less developed countries seek to employ. An international symposium involving both invited and contributed papers addressing the technological and institutional challenges of sustainable development of natural resources in the Third World was staged in September 1985 in Columbus, Ohio, co-sponsored by The Argonne National Laboratory of Argonne, Illinois, The Tropical Renewable Resources Program and the School of Natural Resources of The Ohio State University, and the United States Agency for International Development. This volume presents selected papers from the symposium.
The era of free agency in Major League Baseball ensured that it would be difficult to keep star teams together year after year. The 1976 Cincinnati Reds were one of the last to be considered a "dynasty," and this book documents the season of one of the greatest teams in baseball history. During the pursuit of a second-straight world championship in 1976, the "Big Red Machine" was fueled by all-time hits leader Pete Rose, slugger George Foster, and all-stars Johnny Bench and Joe Morgan, as well as a balanced pitching staff that had seven players notching double-digit win totals. The 102-win regular season ended with a World Series sweep of the New York Yankees.
Nine Miles In recounts the incredible adventures of Doug Garton, the first caretaker to ever live year round at beautiful and historic Webber Lake Ranch in the northern Sierra Nevada Mountains of California. Doug and his first and second wife endured fierce, isolating, yet stunningly beautiful winters. The property contains numerous historic buildings and sites, the most notable being the 1860s Webber Lake Hotel, an original stage stop and resort on the famed Henness Pass Road. This self-made man narrates his nail-biting life and death rescues and close calls while taking the reader through twenty-five years of what times were like managing incredible Webber Lake Ranch.
With the recent success of the Gas House Gang as backdrop, the National League prepared for the 1935 season. The United States was still in the Great Depression, but executives in baseball predicted a financial comeback during the year, and Chicago's "windy" politicians demanded a pennant-contending ballclub. Yes, there was a time when the Cubs were expected to win. This book chronicles the Cubs' 1935 season and the many on- and off-field events that impacted the game for years to come: Fans who had once turned to baseball for heroes and men of character now laughed at players' uncouth antics and fun-loving carousing reported in the morning newspapers; Babe Ruth debuted in the National League with the Boston Braves, and retired soon after; the first major league night game was played in Cincinnati; the chewing gum king Phil Wrigley was the first to broadcast all of his team's games on the radio; and the Cubs won 21 games in a row in September to take the pennant--the last Cubs team to win 100 games in a season.
For over 70 years, Faber & Kell's has been the definitive reference text in its field. It provides an understanding of the principles of heating and air-conditioning of buildings in a concise manner, illustrating practical information with simple, easy-to-use diagrams, now in full-colour. This new-look 11th edition has been re-organised for ease of use and includes fully updated chapters on sustainability and renewable energy sources, as well as information on the new Building Regulations Parts F and L. As well as extensive updates to regulations and codes, it now includes an introduction that explains the role of the building services engineer in the construction process. Its coverage of design calculations, advice on using the latest technologies, building management systems, operation and maintenance makes this an essential reference for all building services professionals.
This book takes a look at the differences, and some sililarities, in a history of baseball that might have been had the game been integrated from the start."-- page 4.
This controversial book maintains that in Colombia the US has long supported a pervasive campaign of state violence directed against both armed insurgents and a wide range of unarmed progressive social forces. While the context may change from one decade to the next, the basic policies remain the same: maintain the pro-US Colombian state, protect US economic interests and preserve strategic access to oil. Colombia is now the third largest recipient of US military aid in the world, and the largest by far in Latin America. Using extensive declassified documents, this book shows that the so-called "war on drugs", and now the new war on terror in Colombia are actually part of a long-term Colombian "war of state terror" that predates the end of the Cold War with US policy contributing directly to the human rights situation in Colombia today.
A Must-Have for Basketball Fans! In this book you will learn where Lurch from television''s Adams Family played college basketball, what a North Carolina Tar Heel is, and what record Frank Selvy set that may never be broken by a Division I player.
Blues Book of the Year —Living Blues Association of Recorded Sound Collections Awards for Excellence Best Historical Research in Recorded Blues, Gospel, Soul, or R&B–Certificate of Merit (2018) 2023 Blues Hall of Fame Inductee - Classic of Blues Literature category With this volume, Lynn Abbott and Doug Seroff complete their groundbreaking trilogy on the development of African American popular music. Fortified by decades of research, the authors bring to life the performers, entrepreneurs, critics, venues, and institutions that were most crucial to the emergence of the blues in black southern vaudeville theaters; the shadowy prehistory and early development of the blues is illuminated, detailed, and given substance. At the end of the nineteenth century, vaudeville began to replace minstrelsy as America’s favorite form of stage entertainment. Segregation necessitated the creation of discrete African American vaudeville theaters. When these venues first gained popularity, ragtime coon songs were the standard fare. Insular black southern theaters provided a safe haven, where coon songs underwent rehabilitation and blues songs suitable for the professional stage were formulated. The process was energized by dynamic interaction between the performers and their racially-exclusive audience. The first blues star of black vaudeville was Butler “String Beans” May, a blackface comedian from Montgomery, Alabama. Before his bizarre, senseless death in 1917, String Beans was recognized as the “blues master piano player of the world.” His musical legacy, elusive and previously unacknowledged, is preserved in the repertoire of country blues singer-guitarists and pianists of the race recording era. While male blues singers remained tethered to the role of blackface comedian, female “coon shouters” acquired a more dignified aura in the emergent persona of the “blues queen.” Ma Rainey, Bessie Smith, and most of their contemporaries came through this portal; while others, such as forgotten blues heroine Ora Criswell and her protégé Trixie Smith, ingeniously reconfigured the blackface mask for their own subversive purposes. In 1921 black vaudeville activity was effectively nationalized by the Theater Owners Booking Association (T.O.B.A.). In collaboration with the emergent race record industry, T.O.B.A. theaters featured touring companies headed by blues queens with records to sell. By this time the blues had moved beyond the confines of entertainment for an exclusively black audience. Small-time black vaudeville became something it had never been before—a gateway to big-time white vaudeville circuits, burlesque wheels, and fancy metropolitan cabarets. While the 1920s was the most glamorous and remunerative period of vaudeville blues, the prior decade was arguably even more creative, having witnessed the emergence, popularization, and early development of the original blues on the African American vaudeville stage.
As western governments issue increasing amounts of debt, the fixed income markets have never been more important. Yet the methods for analyzing these markets have failed to keep pace with recent developments, including the deterioration in the credit quality of many sovereign issuers. In Fixed Income Relative Value Analysis, Doug Huggins and Christian Schaller address this gap with a set of analytic tools for assessing value in the markets for government bonds, interest rate swaps, and related basis swaps, as well as associated futures and options. Taking a practitioner’s point of view, the book presents the theory behind market analysis in connection with tools for finding and expressing trade ideas. The extensive use of actual market examples illustrates the ways these analytic tools can be applied in practice. The book covers: Statistical models for quantitative market analysis, in particular mean reversion models and principal component analysis. An in-depth approach to understanding swap spreads in theory and in practice. A comprehensive discussion of the various basis swaps and their combinations. The incorporation of credit default swaps in yield curve analysis. A classification of option trades, with appropriate analysis tools for each category. Fitted curve techniques for identifying relative value among different bonds. A multi-factor delivery option model for bond future contracts. Fixed Income Relative Value Analysis provides an insightful presentation of the relevant statistical and financial theories, a detailed set of statistical and financial tools derived from these theories, and a multitude of actual trades resulting from the application of these tools to the fixed income markets. As such, it’s an indispensable guide for relative value analysts, relative value traders, and portfolio managers for whom security selection and hedging are part of the investment process.
With its low bandwidth and tiny file sizes, it is often wrongly assumed that sound and video can never achieve a really high level of sophistication in Flash animations. With competitive motion graphics techniques rapidly evolving, there is a constantly growing demand for the next stage in sophisticated design—video and sound. This book will do exactly what they said wasn't possible by illustrating how video and sound can be integrated into your Flash presentations, placing you at the extreme edge of creative web design. The application of such tools as AfterEffects, QuickTime, SoundForge and Wildform test the boundaries of Flash and suggest ways to take sound and video beyond Flash and into the realm of Shockwave. Showing you how to break your site down and incorporate video and sound, the techniques covered in this book capitalise on the capabilities of Flash, whilst tackling its limitations head-on. It will then look at how to take web video and sound a step further with Shockwave presentations. What you’ll learnWho this book is for All Flash designers who appreciate the need to use sound and video in order to stay ahead in the motion web graphics sector. Readers of other friends of ED Flash Studio titles who want to take the next step towards becoming "New Masters".
After a congressional candidate dies during an election campaign in Texas, nice guy Mitch Dutton is sure of victory. Unfortunately, his dead opponent is replaced by Shakespeare McCann, a Machiavellian individual who murders, blackmails, even seduces Dutton's wife. A first novel.
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