The credit and sovereign debt crises have fundamentally changed the way participants in the global financial markets perceive credit risk. The effects of this change have been studied by many leading experts in Mathematical Finance, but to date there is no single volume that combines the results of this research and presents them at a level suited for practitioners and students alike. In market practice this fundamental market change is most directly visible from significant bases throughout the interest rate world, especially tenor bases, cross-currency bases, and bond-cds bases. This means...