Euro bonds : markets, infrastructure and trends / / Marida Bertocchi, University of Bergamo, Italy, Giorgio Consigli, University of Bergamo, Italy, Rita D'Ecclesia University of Sapienza, Rome, Italy, Rosella Giacometti, University of Bergamo, Italy, Vittorio Moriggia University of Bergamo, Italy, Sergio Ortobelli, University of Bergamo, Italy

• Record Nr.: UNINA9910812656503321
• Autore: Bertocchi Marida
• Pubbl/distr/stampa: New Jersey : , : World Scientific, , [2014]; �2014
• ISBN: 981-4440-16-7
• Descrizione fisica: 1 online resource (xvii, 259 pages) : illustrations (some color), maps
• Collana: World Scientific series in finance, , 2010-1082 ; ; volume 7
• Disciplina: 332.63/23094
• Soggetti: Euro-bond market
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references and index.
• Nota di contenuto: Foreword; Preface; Acknowledgments; Author Biographies; Contents; List of Figures; List of Tables; 1. The Bond Market in Europe; 1.1 Introduction; 1.2 History and Development; 1.3 The Main Features of Euro Bonds; 1.4 Government Bonds; 1.5 Corporate Bonds; 1.6 The 2008 Financial Crisis; 1.7 The European Union Bond; Appendix 1.A. The Major European Bond Markets; Glossary; References; 2. The Market Infrastructure; 2.1 Introduction; 2.2 The Retail Markets; 2.3 The Electronic Markets; 2.4 The Clearing and Settlement System; 2.4.1 Post trading costs; 2.4.2 The current market infrastructure; 2.5 The Role of Custodians 2.5.1 The Central Securities Depositories; Glossary; References; 3. Government Bond Markets; 3.1 Introduction; 3.2 The Euro Sovereign Bond Market Evolution; 3.3 Country Risk; 3.4 Bond Spread Dynamics Country-specific Risk; 3.5 Fixed-income Markets and Financial Risk Premia; 3.6 Sovereign Risk and ECB Policy; Glossary; References; 4. The Corporate Bond Market; 4.1 Introduction; 4.2 Recent Evolution; 4.3 Euro-corporate Bond Indices; 4.3.1 Bond indices and default probabilities; 4.4 Moody's 2011 Global Credit Report; Glossary; References; 5. Credit Rating Agencies; 5.1 Introduction 5.2 The CRAs; 5.2.1 The role of CRAs; 5.2.2 Credit ratings; 5.2.3 Taxonomy of rating; 5.3 Regulation of CRAs; 5.3.1 ; Conflicts of interest; 5.4 The Importance of Competition; 5.5 Rating Methodologies; 5.5.1 General principles of the rating process; 5.5.1.1 Private firm credit rating; 5.5.1.2 Government credit rating; 5.5.1.3 Other organization credit rating; 5.5.2 Input factors for the rating process; 5.5.3 Grading process for the rating agencies; 5.5.4 Rating announcement; Glossary; References; 6. Securitization Market; 6.1 Introduction; 6.2 Asset Classes; 6.3 The Securitization Process 6.4 Rationale for Securitization; 6.5 The Market Evolution; Glossary; References; 7. Market Bond Products; 7.1 The Covered Bond Market; 7.1.1 Introduction; 7.1.2 Basic features; 7.1.3 Market evolution; 7.1.4 Primary market; 7.1.5 Secondary market; 7.1.6 Covered bonds in the sovereign debt crisis; 7.2 Inflation-Linked Bonds; 7.2.1 Introduction; 7.2.2 The development; 7.2.3 The role of ILBs; 7.2.4 ILBs and monetary policy; 7.2.4.1 Real term structure and ination risk premia; 7.2.5 Portfolio selection with ILBs; 7.2.5.1 Portfolio selection with sovereign ILBs; 7.2.5.2 Portfolio selection with sovereign nominal bonds 7.3 Bond Exchange Traded Funds; 7.3.1 Introduction; 7.3.2 The development; 7.3.3 Basic features; 7.3.4 Tracking errors and performance; 7.3.5 Portfolio selection with BETFs; 7.3.5.1 BETF portfolio selection in the Euro area; Appendix 7.A. Risk and Reward of Bond Portfolios; Appendix 7.B. Two Approaches for ILBs Portfolio Selection; Appendix 7.C. Two Approaches for BETFs Portfolio Selection; Glossary; References; 8. Credit Derivatives Market; 8.1 Introduction; 8.2 The CDS Market; 8.2.1 The single-name CDS; 8.2.2 CDS as a measure of credit risk
• Sommario/riassunto: Euro Bonds: Markets, Infrastructure and Trends presents the most recent developments in the Euro bond market. It discusses the problems of the Euro countries, the proposed solutions advocated by European as well as international institutions and investors. Particular emphasis is given to systemic risk and contagion as well as to specific innovative instruments such as structured financial products which protect various classes of investors.This self-contained title provides an organized and comprehensive overview of the current financial situation in Europe and accords the reader the opportuni