A fixed approach

Fixed Income Securities, second edition, by Frank J Fabozzi John Wiley & Sons 464 pages, $79.95 ISBN 0-471-21830-8 ISBN 981-02-4283-7 (paperback)

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This is a revised edition of a book first published in 1997. Its approach is very much a descriptive one. The first three chapters take a quick tour of the features and risks of fixed-income securities, the arithmetic of valuation and duration, and yield analysis. They seem designed as a refresher for students who have already covered the topics in a more structured way in an introductory finance text.

The heart of the book is contained in the next nine chapters, which cover the various

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