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[這篇文章最後由文人在 2004/12/06 04:00pm 第 2 次編輯]Zf
This is a dry topic for someone who is interested in using bond yield as a market prediction tool.)
©緣生術數研究社 -- 術數研究 ~+
This link is the basic bond yield introduction tutorial:'fi>{
http://www.investopedia.com/articles/bonds/
These are kind of like "甲木乙木丙火...". If you don't know them, you are a fool. Even if you do, you are still no body.d1nP.
©緣生術數研究社 -- 術數研究 Kp<
This link is more interesting.Do"Vd^
http://www.smartmoney.com/onebond/index.cfm?story=yieldcurve
You should know it by now that all professional bond traders (sometime stock market traders) wear a yield curve visor to look into the future to formulate their trading strategy. This link show three interesting issues:~_m?T
1) an introduction on different kinds of yield curves;"j9I"
2) an example of stock market and GDP reaction from a given shape of yield curve.$
3) an applet to replay the shapes of US yield curve from 1970s.f~
©緣生術數研究社 -- 術數研究 a4[
This link is even better:\
http://moneycentral.msn.com/articles/invest/prepare/1274.asp
Basically, you should know the follow by now:{|l8k
©緣生術數研究社 -- 術數研究 U(dA7
yield curve --> economic performance (GDP growth) --> interest rate movement (from whatever economic theory/Greenspan thinking) --> bond/stock market movement --> trading strategy.vJQU+
©緣生術數研究社 -- 術數研究 Qa)YmT
The above link skip the introduction of delta and epsilon or limit in calculus and tell you the formula directly
d(X^n)/dy = n X ^ (n+1). k@<
©緣生術數研究社 -- 術數研究 S[
Yield Curve --> Strategy. :)c
©緣生術數研究社 -- 術數研究 !{WUP9
There are many jardons and unexplained items. But who would care anyway.y9
©緣生術數研究社 -- 術數研究 l+F
If you want to get the latest up-to-date info. You could try this link: http://www.pimco.com/
Read the Bill Gross monthly article; however, he usual give a nonrelevant small talk at the beginning and use many jargons and big words in his bond movement discussion.b#<4
©緣生術數研究社 -- 術數研究
There is also a yield curve introduction from PIMCO. http://www.pimco.com/LeftNav/Latest+Publications/2004/yield_curve_basics.htm
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 2004/12/04 00:22pm  IP: 已設定保密 | [本文共 2093 位元組]  |
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