Government bond futures

Author: Ye Yonggang
Publisher:
Publish Date: 2004-03-01
Features: This book is divided into ten chapters. The first chapter briefly introduces government bonds from the aspects of their concept, classification, characteristics, and functions, and analyzes the general situation of government bond markets in mature market economies and China. The second chapter provides an overview of government bond futures from the perspectives of their origin and development, an overview of bonds and their yields, the functions of government bond futures, and the trading mechanisms of government bond futures. The third chapter discusses the pricing principles and price formation mechanisms of government bond futures. The fourth chapter analyzes specific trading strategies for government bond futures. The fifth chapter introduces the major government bond futures markets in the world, covering the primary government bond futures markets in the United States, Europe, and Asia. The sixth chapter explores the risk management of government bond futures. The seventh chapter reviews the history of the emergence and development of government bond futures in China and reflects on the "3·27" government bond futures event. The eighth chapter discusses the necessity and feasibility of China's resumption and development of government bond futures. The ninth chapter presents preliminary ideas for the future design of China's government bond futures system. The tenth chapter of the book is a special study on the development of government bond futures in developing countries, where we include some of our research findings on China's government bond futures issues, including: improving the price formation mechanism of China's government bond futures; reflections on China's government bond futures settlement mechanism; the design of China's government bond futures contracts; and research on risk control issues in China's government bond futures. This book extensively employs a case analysis approach, combining the analysis of fundamental principles with case studies to deepen understanding of government bond futures and to learn how to apply the basic principles and methods of government bond futures to solve specific financial problems. Special attention is given to analyzing real-world issues in China and examining the current state of China's financial market. In this book, four chapters specifically discuss the application and development of government bond futures in China from different perspectives.