The frustrated ferromagnetic spin-1/2 Heisenberg chain is studied by means of a low-energy field theory as well as the density-matrix renormalization group and exact diagonalization methods. First, we study the ground-state phase diagram in a magnetic field and find an even-odd (EO) phase characterized by bound pairs of magnons in the region of two weakly coupled antiferromagnetic chains. A jump in the magnetization curves signals a first-order transition at the boundary of the EO phase, but otherwise the curves are smooth. Second, we discuss thermodynamic properties at zero field, where we confirm a double-peak structure in the specific heat for moderate frustrating next-nearest-neighbor interactions.
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