The most complete guide available to the high-yield and distressed-debt marketsLeveraged Financial Markets opens up a world where investors take short and long positions on the riskiest forms of debt financing. Through the eyes of the players and thinkers who live in the high-yield and distressed debt markets, this timely book gives you the background and strategies you need to successfully diversify your portfolio and capture a higher return on your investment.Youll hit the ground running with this books proven models and formulas for implementing covered strategies in the real world. Leveraged Financial Markets features perspectives from the worlds top authorities on high-yield bonds, credit derivatives, and other forms of distresseddebt. Its a must-have for every investor who wants to:Diversify risk in a meritable asset classLock in an excellent risk return profileDevelop significant annual cash flowsFrom the nuts and bolts of leveraged finance to the differences between CLOs and structured finance CDOs to common pitfalls of high-yield assetsLeveraged Financial Markets helps you master one of the riskiest yet most profitable markets in finance today.Table of ContentsPart I: Market StructureChapter 1. The High Yield MarketChapter 2. The Globalization of the High-Yield MarketChapter 3. Bond RatingsPart II: High-Yield BondsChapter 4. High-Yield Bonds as an Asset ClassChapter 5. The Issuers and Investors in the High-Yield Bond MarketChapter 6. Bond Indentures and Bond CharacteristicsChapter 7. Default and Migration Probabilities of High-Yield BondsChapter 8. Analyzing a High-Yield Debt Issuance Chapter 9. Valuation of Callable, Floating and PIK High Yield InstrumentsChapter 10. Analytical Model of Default ProbabilitiesPart III: High-Yield Bonds at the Portfolio LevelChapter 11. Managing a High-Yield PortfolioChapter 12. Monitoring a High-Yield PortfolioChapter 13. High Yield Index ProductsChapter 14. Aggregate Market ValuationPart IV: Leveraged Loans and CDOsChapter 15. Leveraged Loans as an Asset ClassChapter 16. The Issuers and Investors in Leveraged Loans Chapter 17. Collateralized Debt Obligations and SecuritizationPart V: Distressed DebtChapter 18. Recovery Rates on Defaulted BondsChapter 19. Analyzing the Credit Risk of Distressed SecuritiesChapter 20. Debtor-in-Possession FinancingChapter 21. Vulture InvestingPart VI: Credit Derivative SwapsChapter 22. Credit Derivative Swaps

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