bond trading books

[steeldust]

hi, anyone know of any good books on bond trading? or any books on how bond traders think. lots of books on stocks. i would also like to find something on relationships between markets(bonds,stocks,currencies etc) thanx for any help

 

[SethArb]

written about the largest bond futures trader

a few yrs ago called Charlie D ?

it had a a section in it where he discussed some strategy
that he used .... but it really was meant for local floor traders
I think.

 

[buzzy2]

"handbook of fixed income securities" by frank fabozzi
"fixed income securities" by bruce tuckman,
both pretty elementary background reading, not for trading strategies.
of course you can trade bonds like any other commodity, but there's a wrinkle called yield curve you don't find in stocks.
i have rarely seen a TA book on the yield curve, but there are plenty of academic papers.

for trading strategies check out:

Fixed-Income Arbitrage: Analytical Techniques and Strategies
by M. Anthony Wong

The Treasury Bond Basis: An In Depth Analysis for Hedgers, Speculators and Arbitrageurs
by Galen D. Burghardt, Terrence M. Belton, Terry Belton

you might pick up some ideas here

 

[buzzy2]

Quote from SethArb:
written about the largest bond futures trader
a few yrs ago called Charlie D ?

Charlie D.: The Story of the Legendary Bond Trader
by William D. Falloon
it's on amazon, the strategy seem to be calendar spreads, but the reviews say the book is mostly biographic not so much about trading.

 

[CalTrader]

Quote from steeldust:

hi, anyone know of any good books on bond trading? or any books on how bond traders think. lots of books on stocks. i would also like to find something on relationships between markets(bonds,stocks,currencies etc) thanx for any help

Not exactly a bond trading book but a classic reference:

Bond Market Analysis and Strategies by Fabozzi.

At PIMCO - one of my clients - this is what is recommended for any new recruit looking to enter the bond / interest rate business.

 

[Bond Trader]

This one is a little dated and not written for individual investors but is more focused on trading than other bond books:

The Bond Market: Trading and Risk Management
Christina I. Ray

http://search.barnesandnoble.com/booksearch/isbnInquiry.asp?userid=2USFK0K8L8&isbn=1556232896&itm=1

try looking on half.com for a used copy.

 

[buzzy2]

thanks bond trdr didn't know about that one

 

[nkhoi]

suppose to be the last words on bond site http://www.bondtalk.com/global.cfm?S=sitemap

 

[Risk Less]

I think the best book I have ever read about Bond trading is The Bond Basis. It is written by Terry Belton and Galen Burkhardt.

I traded Fixed Income Options for 11 years and it always came in handy. It explains the Curve, Cheapest to Deliver analysis and the basis in a great way.

 

[steeldust]

thanx for the info everyone. i'll take a look at all these. even though i can trade bond futures with decent positive, i think a better understanding of what the hell is going on will make life a bit less stressful.