I am trying to understand how, in practice, bonds (from simple corporate bonds to structured products like CDOs, ABS, MBS, etc.) are valued and marked to market.

-For corporate bonds,

 - fixed-coupon bonds: Treasury curve (yield curve) + credit spread 
   (product of the probability of default and recovery rate derived 
   from comparable bonds or CDS)

- floating rate bonds: reference yield curve (like LIBOR+swap 
  curve) + credit spread. 

Is this equivalent to the OAS spread?

-For structured products like MBS, model underlying cash flows, prepayments, and the speed of prepayment?

However, I have read about term structure models like Hull-White, HJM, LMM used to build term structure. To value bonds would we use those models, or some interpolation models like Nelson Siegel Svensson, polynomial/piecewise for curve construction?



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