The bond market is larger than the stock market and far less understood, which is exactly why it deserves a friendlier introduction. Demystifying Fixed Income explains fixed income from the ground up: what it means to be a lender rather than an owner, the main types of instruments, and how government and corporate debt differ in safety and reward. It shows how the bond market actually trades, how prices and yields are calculated, and how to read the yield curve as a signal about the economy. Later chapters cover the risks that catch newcomers out, bond funds and ETFs, strategies for building a portfolio, the role of fixed income in diversification, and the macroeconomic forces that move rates in the United States and Europe, with a closing look at sustainable bonds. It is written for the curious individual investor who wants steady income and a calmer portfolio.
The bond market is larger than the stock market and far less understood, which is exactly why it deserves a friendlier introduction. Demystifying Fixed Income explains fixed income from the ground up: what it means to be a lender rather than an owner, the main types of instruments, and how govern...