Financial Markets, Institutions and Money, 5th Edition

Preface xi

About the Adapting Authors xii

1. The financial system 1

2. Financial markets 23

3. The monetary authorities 55

4. The Reserve Bank of Australia and interest rates 83

5. Financial mathematics 109

6. Bond prices and interest rate risk 161

7. The structure of interest rates 189

8. Money markets 207

9. Bond markets and valuation 231

10. Equity markets and share valuation 263

11. Derivatives markets 291

12. Foreign exchange markets 319

13. Regulation of financial institutions 351

14. Commercial bank operations 397

15. Nonbank financial institutions 447

16. International banking 467

17. Insurance, investment companies and superannuation 499

18. Investment banking and venture capital 533

19. Sustainability and the finance sector 559

Index 583