Frank Fabozzi is a world-class specialist in bond. His books are the main source of information for financial professionals who study bonds. They are taught in leading business schools and pass the CFA (Chartered Financial Analyst) exams. This book is a great tutorial for any financier. From it, the reader learns about: the fundamental characteristics of bonds ; Types of issuers; the maturity of the bonds and their significance; Fixed-rate and floating-rate securities ; embedded options bonds and the impact of embedded options on bond cash flow; Types of embedded options; Convertible Bonds ; Types of Risks in Fixed Income Securities ; Some ways to classify financial innovation; portfolio management tools and much more. Chapters on interest rate and credit risk modeling and corporate bond credit analysis have been added to the second edition . The book is designed for employees of financial companies and banks, investors, as well as students and teachers of economic universities .