Leveraged Financial Markets: A Comprehensive Guide to Loans, Bonds, and Other High-Yield Instruments

The high-yield debt market (junk bonds) is a major sector of the financial industry, with more than $600 billion traded annually, and interest in the market is on the rise Features the insights of Marty Fridson (Fridson Vision), Sam DeRosa (CSFB High-Yield), Peter Tufano (Harvard University), and Darrell Duffie (Stanford University), among others Includes models for analyzing probabilities of default and recovery

About the Author

William Maxwell teaches finance at the Cox School of Business at Southern Methodist University. He has held professorships at the University of Arizona, Texas Tech, and Georgetown and has written numerous articles for academic journals. Maxwell his coauthor of High-Yield Bonds. Mark Shenkman is President and Chief Investment Officer of Shenkman Capital Management, one of the world's largest high-yield money management firms. He has held executive-level positions focusing on the fixed income market at First Investors Asset Management, Lehman Brothers, and Fidelity. Shenkman is co-author of High-Yield Bonds.