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Inflation-Linked Products

Inflation-Linked Products

Brice Benaben
2005
T4 380 pages · about 6h 20m to read Open Librarygoodreads

Guide for investors and ALM managers to linked bonds and swaps.

Summary

The reference has not verified this book in detail; the summary states only what the title, author and subject establish.

This is a practitioner volume on inflation-linked instruments edited by Brice Benaben, covering index-linked bonds, inflation swaps and structured products that transfer inflation exposure between institutional counterparties. It belongs to a series of technical banking references and predates the editor's later related volume on inflation risks and products.

The reference has not yet verified this book's contents in detail. Its subject is established by the title and by the editor's work in the inflation derivatives market at the time, and this entry does not assert more than that. Readers seeking a verified technical reference should prefer Deacon and Derry's Inflation-Indexed Securities.

Key takeaways 5

  1. Inflation-linked products transfer price-index risk between parties with opposite exposures, principally pension funds and inflation-earning issuers.
  2. Zero-coupon inflation swaps became the standard instrument for expressing views on inflation separately from nominal rates.
  3. Structured inflation products embed optionality whose value depends on the assumed distribution of future price indices.
  4. European and United Kingdom inflation markets developed around different indices and different institutional demand, so the two are not interchangeable.
  5. Inflation-linked issuance by corporates is rare, so the supply of protection comes overwhelmingly from governments and from dealers running the risk.

Who should read it

Fixed income practitioners looking for a technical treatment of inflation-linked instruments, with the caveat that this entry is not verified in detail.

Similar books 6

Chosen by shared topics, the entries that hold them, and the people who recommended both.

Handbook of Inflation Indexed BondsHandbook of Inflation Indexed Bonds
T2 Handbook of Inflation Indexed Bonds
John Brynjolfsson, Frank J. Fabozzi · 1999
Open LibraryGoodreads

Essays on inflation-indexed bonds, written as the US TIPS market opened.

Inflation-Indexed SecuritiesInflation-Indexed Securities
T3 Inflation-Indexed Securities
Mark Deacon, Andrew Derry, Dariush Mirfendereski · 2004
Open LibraryGoodreads

How inflation-linked government bonds are designed, priced and traded worldwide.

Inflation Risks and Products
T4 Inflation Risks and Products
Brice Benaben · 2008
Open LibraryGoodreads

Successor survey to Benaben's earlier volume: pricing, hedging, market structure.

The Handbook of Inflation Hedging InvestmentThe Handbook of Inflation Hedging Investments
T3 The Handbook of Inflation Hedging Investments
Robert J. Greer · 2005
Open LibraryGoodreads

Inflation-linked bonds, commodities and real assets compared as inflation hedges.

A Complete Guide to the Futures MarketsA Complete Guide to the Futures Markets
T4 A Complete Guide to the Futures Markets
Jack D. Schwager · 1984
Open LibraryGoodreads

Second edition 2017 with Mark Etzkorn, titled A Complete Guide to the Futures Market.

A Demon of Our Own DesignA Demon of Our Own Design
T2 A Demon of Our Own Design
Richard M. Bookstaber · 2007
Open LibraryGoodreads

How financial innovation made markets more crisis-prone, from a risk manager.

Where it sits in the reference 1

Inflation-linked bonds and TIPS
Assets

Topics

Finance and MarketsInvesting