- 41 Videos
- 8 Quizzes
- 1 Survey
- 2 Downloads
- 2.0 hrs
This 2-part series will introduce you to the main products and players in the fixed income markets. It illustrates the points covered using real market data and examples of the most commonly used Bloomberg screens for bonds. Core concepts such as bond pricing, duration and yield curves are covered in detail. This course incorporates a wide range of applied exercises and case studies together with quizzes to test what you are learnt.
Part 1 - Fixed income products and markets
In this first module we explore the key features of a bond including the issuer, coupon and maturity date. The key issuers are covered and ratings for bonds are discussed. Bond prices are driven by changes in the yield curve. Typical yield curve shapes are investigated together with how the yield curve moves through the economic cycle. The module uses Bloomberg’s DES, YAS and IYC screens to illustrate the points discussed.
- Learn the key features of fixed income securities & bonds
- Understand the yield curve and what it represents
- Track yield curve changes throughout the economic cycle
Part 2 - Pricing fixed income securities and duration
The second module starts by demonstrating how bonds are priced using discounted cash flow and the relationship between a bond’s price and its yield. Clean prices, dirty prices and accrued interest are also discussed. Understanding how bond prices move as their yields moved is a fundamental concept in the fixed income market. Macaulay and modified duration are both explained. The session provides an intuitive explanation of these concepts before looking at the detailed calculations.
- Use DCF to price bonds
- Learn the relationship between bond prices and yields
- Use duration to learn how bond prices move in the market
This course incorporates a wide range of applied exercises and case studies. Sophisticated search and navigation tools allow you to go at your own pace while pop quizzes test what you’ve just learnt. The course also includes two PDF reference guides – an accounting fact-sheet and a financial statements glossary - that can be used while taking the course and downloaded to your computer for future reference.
Justin leads the design and delivery of our asset management, investment banking and capital markets programmes for global financial services clients. Justin enjoys working with clients to build highly tailored and interactive learning solutions, and is renowned for designing and delivering programmes that present complex ideas in a clear, everyday language that delegates can really understand and appreciate.