The Eurodollar Futures and Options Handbook (Irwin Library of Investment & Finance.)

Eurodollar trading volume is exploding, with no end in sight tools phenomenal growth. The Eurodollar Futures and Options Handbook provides traders and investors with the complete range of current research on Eurodollar futures and options, now the most widely traded money market contracts in the world. The only current book on this widely-followed topic, it features chapters written by Eurodollar experts from JP Morgan, Mellon Capital, Merrill Lynch, and other global trading giants, and will quickly become a required reference for all Eurodollar F&O traders and investors.

He provides an excellent overview of the institutional details of Eurodollars and their uses. The book is at its strongest when dealing with issues of the convexity bias and also scores high by not neglecting important issues like the stub period. Perhaps my favorite chapter was on callable bonds and the extension/compression risk, which, while a little misplaced in a book on Eurodlllars, still provided a very lucid explanation of the relevant issues.

With regard to options, the author touches upon some of the interest strategic combinations using serial and mid-curve options, but I feel that he could've delved a bit deeper in this part of the book. It's the only area in which I felt the book was somewhat lacking.

Having said all that, if you're looking to learn about Eurodollar futures, I can't imagine there's a better book out there. This is an excellent compilation of a number of Burghardt's research from the 1990s together with more recent updates. Even if Eurodollars are not your main area of expertise, this book will still help you to gain a more solid understanding of many of the pertinent topics in fixed income.


Highly recommended   July 23, 2003
 9 out of 10 found this review helpful

Having just finished reading the author's treatment of bond futures in the 'Treasury Bond Basis,' I was happy to see that Burghardt was updating some of his material from the early 1990s on Eurodollar futures. The 'Bond Basis' was an excellent and thorough analysis, and 'The Eurodollar Futures and Options Handbook' follows the same trend.

He provides an excellent overview of the institutional details of Eurodollars and their uses. The book is at its strongest when dealing with issues of the convexity bias and also scores high by not neglecting important issues like the stub period. Perhaps my favorite chapter was on callable bonds and the extension/compression risk, which, while a little misplaced in a book on Eurodollars, still provided a very lucid explanation of the relevant issues.

With regard to options, the author touches upon some of the interest strategic combinations using serial and mid-curve options, but I feel that he could've delved a bit deeper in this part of the book. It's the only area in which I felt the book was somewhat lacking.

Having said all that, if you're looking to learn about Eurodollar futures, I can't imagine there's a better book out there. This is an excellent compilation of a number of Burghardt's research from the 1990s together with more recent updates. Even if Eurodollars are not your main area of expertise, this book will still help you to gain a more solid understanding of many of the pertinent topics in fixed income.