Bond prices can look precise while hiding mismatched conventions, optionality, funding costs, or the wrong risk unit. If quoted yields and desk shorthand have ever felt disconnected from the cash flows underneath, this book gives you a disciplined way to reconnect them. Follow a practical route from contract terms to valuation, risk, hedging, and control so you can explain what a fixed-income measure captures—and what it leaves exposed. Inside, you'll find: • Cash-flow mapping that turns coupons, principal, settlement terms, and day-count rules into a reproducible pricing foundation • Yield-curve tools covering spot rates, discount factors, forwards, bootstrapping, slope, curvature, and trade construction • Risk methods for duration, DV01, key-rate exposure, convexity, nonlinear behavior, and multi-factor stress testing • Funding mechanics that clarify repo, haircuts, collateral, carry, rolldown, specials, and liquidity pressure • Futures procedures for conversion factors, delivery baskets, cheapest-to-deliver analysis, basis, and hedge ratios • Options reasoning that connects premiums with implied volatility, Greeks, skew, structures, and scenario grids • Credit analysis spanning spread measures, capital structure, covenants, default probability, recovery, and monitoring • Product chapters on inflation-linked bonds, mortgage-backed securities, interest-rate swaps, and cross-currency basis • Desk-ready controls for portfolio construction, execution, P&L explain, valuation checks, operational resilience, and post-trade review Written for analysts, investors, finance students, and practitioners who want applied fixed-income mechanics without losing sight of documentation, units, residual risk, or execution reality. New readers gain a structured foundation; experienced readers gain a compact process for checking assumptions and reconciling results. Build a fixed-income practice in which every quote can be traced, every risk can be named, and every decision can be tested.
