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Securities which obligate the borrower/issuer to make payments on a fixed schedule. Fixed income securities include sovereign, corporate and municipal bonds, corporate loans, and securitized lending (e.g., ABS). "Fixed" refers only to the schedule of obligatory payments, not the amount, and may include inflation linked bonds, variable-interest rate notes, and the like.

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### If any zero coupon bond $P(T)$ can be chosen as a numéraire, then why can the rolling bond f...

Let us consider some finite time horizon $[0,T]$, and we assume that $P(t)$, the zero coupon bond maturing in $t$ for any $t\in [0,T]$ can be chosen as a numéraire, i.e. such that the numéraire-relati …
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### How to model the different returns of agents with different information information

For a seminar, I would like to graphically represent the returns made by agents of different information standpoints. In other words, say I have a market tuple $(\Omega, \mathbb{F}, P,S)$ where $S$ is …
### Finding the distribution of $I(T_{1},T_{n})$ under an appropriate measure if the forwards ar... [duplicate]
My question follows beneath the "lengthy" setting I describe: Given a tenor discretization $0 = T_{0}< ... < T_{n} =T$, and under the assumption that under $\mathbb P$, for all $i = 1,...,n-1$ the for …
Given, a numéraire $(N(t))_{0\leq t \leq T}$ and an index $(X(t))_{0\leq t\leq T}$ that is a $\mathbb Q^{N}$-martingale, we consider the natural payoff $V_{N}(T)$, where it pays V_{N}(T):=X(T)N(T) …