Fixed Income Markets - Online

Once considered a safe haven, fixed income investing now presents an array of choices for every risk profile. This course gives a comprehensive overview of the fixed income market.

It covers basic bond terminology, bond fundamentals, yield calculations and the specifics of corporate, government and municipal bonds. Designed for those new to the bond market, as well as for those in related areas of the business seeking to expand their knowledge of this market. For personnel in sales, portfolio management, research, operations, and systems.

This is an online self study course that can be globally accessed from any internet enabled computer.

Available TodayOnlineUSD$300
Instructional Method:
Self-Study
Level: Basic
CPE Credits: 34

Sales personnel, junior research analysts, operations and systems staff, new entrants to fixed income markets, finance analysts and corporate bankers.
Fixed Income Markets-Overview
  • Characteristics of fixed income markets
  • Various instruments and their classification

Bond Pricing and Yield Measures

  • Types of bonds and their pricing
  • Various yield measures

Treasury Securities

  • Market terminology
  • Pricing Treasury notes and bonds

Corporate Bonds

  • Corporate bonds market terminology
  • Pricing
  • Role of Credit ratings

Global Bonds

  • Australian, Candian, French, German, and Irish government bonds and their markets
  • Characteristics and market practices in the above markets
  • Risks involved in the markets
  • Italian, Spanish, Swiss, U.K and Japanese government bonds and their markets
  • Characteristics and market practices in the above markets
  • Risks involved in the markets

Treasury Inflation Protected Securities (TIPS)

  • How do treasury inflation protected securities work
  • Risks of investing in TIPS
  • Managing TIPS portfolio
  • Implication of TIPS on income tax

Duration & Convexity

  • Basics of duration and modified duration
  • Computation of duration for various types of instruments
  • Basics of convexity
  • Calculation of convexity for portfolios
  • Positive and negative convexities and their role

Basis Point Value

  • The relationship between BPV, duration and convexity
  • Methods to calculate BPV for on and off balance sheet items

High Yield Bonds

  • Definition of high yield bonds
  • Risks involved in them

Brady Bonds

  • Brady bond market terminology
  • Pricing of Brady bonds
  • Risks associated with Brady bonds and their hedging

Option Embedded Bonds

  • Callable and puttable bonds
  • Valuation
  • Convertible bonds and their valuation

Collateralized Mortgage Obligations

  • Various types of CMOs and their structures
  • Risks inherent in CMOs
  • Legal and regulatory aspects of CMOs

Interest Rate Swaps

  • Importance of interest rate risk
  • Pricing and valuation of interest rate swaps
  • Variants in interest rate swaps
  • Swaptions

Caps, Floors, Collars, Captions & Forward Rate Agreements

  • Interest Rate Caps
  • Corridors
  • Step up Caps
  • Captions
  • Floors
  • Collars
  • Trading mechanics of FRAs
  • Trading and arbitrage strategies using FRAs

Bond Trading Strategies

  • Bond trading mechanics
  • Bond stripping
  • Relative value trade
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