Introduction to U.S. Corporate Bonds 美國公司債導論
Overview概論 Default Risk違約風險 NRSRO Moody's S&P Global Rate US Securities and Exchange Commission Fundamental Analysis基礎分析 Example - Marriot Bonds Interest Rate Risk and Central Bank Support利率風險與央行支援 央行低利率政策2007-2019 US Federal Reserve美聯儲 European Central Bank QE Quantitative Easing Credit Ratings 債券兩個目標：保本Capital preservation 利得Income generation; 注意的是return of principal and timely interest payments Credit rating organization: Moody, S&P Global, Fitch Ratings Rating org, NRSRO: Moody, S&P Global, Fitch ratings https://wolfstreet.com/credit-rating-scales-by-moodys-sp-and-fitch/ Investment: AAA - BBB Non Investment: BB - C https://en.wikipedia.org/wiki/Bond_credit_rating https://www.investopedia.com/terms/n/nationally-recognized-statistical-ratings-organization.asp Primary Market - Constructing an initial sale SEC Edgar https://www.sec.gov/search-filings Secondary Market - IB Bond Scanner Secondary Market - Prices and Yields Example: home depot 1000*2.7%=27/2=13.5 Bi...