Stigum's Money Market


Stigum's Money Market provides a complete overview of the large and ever-expanding money market area to help a new generation of Wall Street money managers and institutional investors. It delivers an all-encompassing, cohesive view of the vast and complex money market, offering careful analyses of the growth and changes the market has undergone in recent years. This updated classic also includes hundreds of helpful new illustrations and calculations, together with an improved format that gives readers quick access to every major topic relating to the fixed-income market.

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. n-depth coverage of the markets themselves, including federal funds, government securities, financial futures, Treasury bond and note futures, options, euros, 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

Table of Contents

Part I - Some Fundamentals

  1. Introduction

  2. Funds Flows, Banks and Money Creation

  3. The Instruments in Brief

  4. Discount and Interest-Bearing Securities

  5. Duration and Convexity

Part II - The Major Players

  1. The Banks: Domestic Operations

  2. The Banks: European Operations

  3. The Treasury and the Federal Agencies

  4. The Most Watched Player: The Fed

  5. The Market Makers: Dealers and Others

  6. The Investors: Running a Short Term Portfolio

Part III - The Markets

  1. The Federal Funds Market

  2. The Repo and Reverse Markets

  3. Government and Federal Agency Securities

  4. Financial Futures: Bills and Euros

  5. Treasury Bond and Note Futures

  6. Options: In the Fixed-Income World

  7. Euros: Cash Time Deposits and FRAs

  8. Interest Rate Swaps

  9. Certificates of Deposit: Domestic, Euro and Yankee

  10. Banker's Acceptance

  11. Commercial Paper: DomestiCommercialo

  12. Bank Sales of Loan Participations

  13. Medium-Term Notes

  14. Municipal Notes