第八章债券定价和风险管理1.Bondanalysis1.1CapitalizationofIncomeMethodofValue1.2Bondattributes预测违约的财务比(financialratio)单变量方法多变量方法1.3.Yieldspread的确定1.4.债券定价2.Fixed-incomeportfoliomanagement2.1利率风险例子2.2Duration例子：息率8%的债券Duration8%DurationDuration和股票价格变化之间的关系例子Whatdeterminesduration?2.3ConvexityYieldCorrectionforConvexityWhydoinvestorslikeconvexity?2.4PassivebondmanagementPassivemethodsBond-indexfundsCreateaportfoliothatmirrorsthecompositionofanindexthatmeasuresthebroadmarket.债券市场指标LehmanBrothers,MerrillLynch,SalomonBrothersNumberofissuesmaturityofincludedbondsexcludedissuesweightingreinvestmentDailyavailabilityImmunizationvalue1000060008%interestrate2.5Activebondmanagement演讲完毕，谢谢观看！