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Fixed Income Markets
This course is no longer being offered. It has been replaced with the following:
Duration : 1.5 hours
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Characteristics of fixed income markets
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Various instruments and their classification
Duration : 1.5 hours
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Types of bonds and their pricing
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Various yield measures
Duration : 1 hour
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Market terminology
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Pricing Treasury notes and bonds
Duration : 1 hour
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Corporate bonds market terminology
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Pricing
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Role of Credit ratings
Duration : 1 hour
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Australian, Canadian, French, German, and Irish government bonds and their markets
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Characteristics and market practices in the above markets
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Risks involved in the markets
Duration : 1 hour
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Italian, Spanish, Swiss, U.K and Japanese government bonds and their markets
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Characteristics and market practices in the above markets
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Risks involved in the markets
Duration : 1 hour
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How do treasury inflation protected securities work
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Risks of investing in TIPS
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Managing TIPS portfolio
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Implication of TIPS on income tax
Duration : 1 hour
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Basics of duration and modified duration
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Computation of duration for various types of instruments
Duration : 2 hours
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Basics of convexity
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Calculation of convexity for portfolios
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Positive and negative convexities and their role
Duration : 1 hour
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The relationship between BPV, duration and convexity
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Methods to calculate BPV for on and off balance sheet items
Duration : 1 hour
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Definition of high yield bonds
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Risks involved in them
Duration : 1 hour
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Brady bond market terminology
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Pricing of Brady bonds
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Risks associated with Brady bonds and their hedging
Duration : 1 hour
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Callable and puttable bonds
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Valuation
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Convertible bonds and their valuation
Duration : 1.5 hours
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Various types of CMOs and their structures
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Risks inherent in CMOs
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Legal and regulatory aspects of CMOs
Duration : 1 hour
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Importance of interest rate risk
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Pricing and valuation of interest rate swaps
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Variants in interest rate swaps
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Swaptions
Duration : 1 hour
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Interest Rate Caps
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Corridors
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Step up Caps
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Captions
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Floors
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Collars
Duration : 1 hour
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Trading mechanics of FRAs
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Trading and arbitrage strategies using FRAs
Duration : 1 hour
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Bond trading mechanics
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Bond stripping
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Relative value trade
Duration : 1 hour
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The meaning and concept of municipal bonds
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The features of municipal bonds
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The types of municipal bonds
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The differences between municipal bonds and corporate bonds
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The municipal bond markets
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The commercial credit rating of municipal bonds
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The types of risks involved with respect to municipal bonds
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The concept of municipal bond insurance
- Insight into fixed income markets provides real value
- Describe the fixed income market, characteristics, features and risks of fixed income securities
- Explain the basics of bonds
- Explain a conceptual framework for fixed income investing and the risk involved
- List the fixed income products available to your clients and discuss their specific suitability
- Understand and describe Federal Reserve policies and activities and their impact on fixed income markets
- Describe the current public credit ratings used for fixed income products
- Understand bond prices, including percentage values, quotation conventions, conversions and premium pricing
- Understand accrued interest and standard payment dates, trade and settlement dates, accrued interest calculations
- Calculate nominal yield, current yield, real yields and yield to maturity
- Understand duration analysis definition, calculation, interpretation, limitations and advantages
Sales personnel, junior research analysts, operations and systems staff, new entrants to fixed income markets, finance analysts and corporate bankers.
