Fixed Income Securities: Tools for Today's Markets (Wiley Finance)

This book has been instrumental in my learning of Debt Instruments.Highly recommend. High quality writing, contemporary and relevant content.Kudos to Professor Tuckman.

With nearly a decade as a bond trader, "Fixed Income Securities" by Tuckman and Serrat is and remains my primary reference. I'm a firm believer in first-principals thinking; when I find myself presented with a structured product, and find that my familiarity with all the moving parts has faded a bit, this is the book I turn to first.It is unmatched as a practical encyclopedia for fixed income and derivatives, accessibly written yet logically rigorous, with superb examples and case studies that turn theory into application.The updates in the Fourth Edition, covering market behavior during COVID pandemic and the transition to SOFR (including changes to clearing, regulations, etc.) ensure the enduring relevance and value of this classic. Highly recommended to traders, quants and those studying to be either.

Professor Tuckman's "Fixed Income Securities: Fourth Edition" continues to be the bible of fixed income instruments and derivatives for practitioners and students. The quantitative frameworks are clearly explained with practical examples provided throughout the book.The 4th edition has contemporary issues such as the transition from LIBOR to SOFR and its implications, which no other text book currently covers. I highly recommend this book as an invaluable resource for aspiring and established fixed income professionals alike.

This fifth edition, coming after ten years of post-GFC developments and two years into markets wracked by COVID and inflation provides both students and practitioners with with an invaluable resource for understanding the full breadth of fixed income markets, instruments and practices. As one who has both taught from earlier editions of this book and used it as a reference in managing fixed income portfolios, I can testify to its ability to present comprehensive discussions of the major components of the US fixed income markets and instruments. This update incorporates important developments in fixed income, including changes to markets, regulation, clearing, rate indicies and derivatives.

I wish I had found this book years ago. Covers everything in fixed income markets, introducing/explanining the theoretical foundations as needed but making sure that the reader understands how these markets actually operate in practice. It is also very well written; easy to follow despite covering complex topics in a rigorous way.

This book provides the most comprehensive and meticulous overview of fixed income markets and instruments. It combines strong and clear conceptual framework with the valuable real world pricing, hedging and investing applications.

Previous editions of this book had the most intuitive explanation of Libor Market Model. Not sure why authors decided to completely remove this from the term structure modeling discussion. LMM's extension Forward Market Model is extremely important rates and MBS modeling.