Stigum's Money Market - Stigum, Crescenzi

First published in 1978, Stigum's Money Market was hailed as a landmark work by leaders of the financial, business, and investment communities. This classic reference has now been revised, updated, and expanded to help a new generation of Wall Street money managers and institutional investors.

The Fourth Edition of Stigum's Money Market delivers an all-encompassing, cohesive view of the vast and complex money market, offers careful analyses of the growth and changes the market has undergone in recent years, and presents detailed answers to the full range of money market questions.

Filled with new illustrations and calculations, Stigum's Money Market equips readers with: 1) A complete overview of the large and ever-expanding money market arena; 2) Quick-access to every key aspect of the fixed-income market; 3) A thorough updating of information on the banking system; 4) Incisive accounts of money market fundamentals and all the key players; 5) In-depth coverage of the markets themselves, including federal funds, government securities, financial futures, Treasury bond and note futures, options, interest rate swaps, CDs, commercial paper, and more; 6) Expert discussions of the Federal Reserve, the Internet and electronic trading, and the new roles of commercial banks and federal agencies.

  • Level: Basic
  • Major Topics: T12
  • Minor Topics: T11, T13, T14


Table of Contents

1. Introduction

Part 1. Some Fundamentals
2. Funds Flows, Banks, and Money Creation
3. The Instruments in Brief
4. Bond Valuation
5. Duration and Convexity

Part 2. The Major Players
6. The Banks: Domestic Operations
7. The Banks: Eurodollar Operations
8. The Treasury and the Federal Agencies
9. Don’t Fight the Fed! The Powerful Role of the Federal Reserve
10. The Market Makers: Dealers and Others
11. The Investors: Running a Short-Term Portfolio

Part 3. The Markets
12. The Federal Funds Market
13. The Repo and Reverse Markets
14. Treasury and Federal Agency Securities
15. Financial Futures: Bills, Eurodollars, and Fed Funds
16. Treasury Futures
17. Financial Options
18. Eurodollars: Cash Time Deposits and FRAs
19. Interest-Rate Swaps
20. Certificates of Deposit
21. Bankers’ Acceptances
22. The Commercial Paper Market
23. Bank Sales of Loan Participations
24. Medium-Term Notes
25. Municipal Notes
26. Money Market Funds…read more