Editorial Review:

Edited by Stephen Campisi, CFA and David Spaulding, CIPM, this compilation of articles on fixed income attribution is a "must have" for every performance measurement professional. What makes fixed income performance attribution such a hot topic? Is it the importance of the asset class? The bond market dominates the stock market, in terms of both investment capital and the number of issues in the market. Unlike stocks, which are only issues by public companies, bonds are issues by both public and private companies, as well as by all sectors of the government: federal, state, and local. And, as one of our commentators mentions, bonds are born and they die (actually they mature with the passage of time - as the old joke goes, this is true for bonds but not for bond portfolio managers!). Therefore, the bond market is a dynamic one, with a new issue market that is much more active than the stock market...