This book can be used in either an international financial markets course or an international finance course with a markets emphasis at either the advanced undergraduate or MBA level. The secondary market is an international financial management course with a strong markets focus. This book analyzes the key segments of the international financial markets and is unique in that it (1) provides a strong economic treatment and analysis in support of the underlying text concepts, (2) relates the important and inescapable interplay between regulation (government policies) and the markets and (3) examines the instruments and markets from a pricing as well as a risk analysis and risk management perspective.