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Part of the CFA Institute Investment Series, Fixed Income Analysis provides authoritative and up-to-date coverage of how investment professionals analyze and manage fixed income portfolios.  Valuable for self-study, general reference, and classroom use, Fixed Income Analysis provides comprehensive, example-driven presentations of all essential topics in the field. Investment analysts, portfolio managers, individual and institutional investors and their advisers, and anyone who may have an interest in fixed income markets should find the book an essential resource. Coverage is in six parts: FIXED INCOME ESSENTIALS Fixed-Income Securities:Defining Elements explains all types of fixed income securities and their characteristics.              Fixed-Income Markets: Issuance, Trading, and Funding covers fixed income markets worldwide emphasizing aspects most relevant to professionals.                                                                                              Introduction to Fixed Income Valuation introduces fixed income valuation in a way that assumes not prior background.         ANALYSIS OF RISK Understanding FixedIncome Risk and Return covers modern techniques of analyzing interest rate risk. Fundamentals of Credit Analysis explains modern professional practice in evaluating credit risk. Credit Analysis Models explain quantitative methods of credit risk analysis. ASSET-BACKED SECURITIES Introduction to Asset-Backed Securities cover fixed income securities backed by pools of assets. VALUATION The Arbitrage-Free Valuation Framework explains and illustrates a general framework for valuing fixed income securities. Valuation and Analysis: Bonds with Embedded Options covers the more complex case in which securities include options that the issuer or investor may exercise. TERM STRUCTURE ANALYSIS The Term Structure and Interest Rate Dynamics covers the critical topic of how the yields of bonds of different ma