Foundations of Fixed Income

Description

The Foundations of Fixed Income course is intended to give participants a solid understanding of the role and functioning of the debt capital markets. The seminar covers a wide range of fixed-income instruments, their valuation, pricing, and hedging.

During the course, participants will explore how these products are used by issuers and investors, and will be able to effectively apply their knowledge immediately.

Learning Outcomes

By attending this course, you will:

• Explore the range of fixed-income products, their uses and applications
• Examine how banks apply the concepts and products to their business
• Obtain hands-on practice, using simulation and intensive interactive case studies, to consolidate the learning process

Who Should Attend

Anyone working in the fixed-income market.

Prerequisites

A knowledge of time value of money.

Seminar Content

Bond and Money Market Maths

• What is a bond?
• Bond variations
• Pricing coupon securities
• Zero-coupon bonds
• Price and yield
• Gross and net redemption yields
• The "pull-to-par"
• Amortisation of discount / premium
• Day-count conventions
• Accrued income
• Clean and dirty prices
• Current yield vs. yield-to-maturity
• Re-investment of coupons
• Price sensitivity concepts
• Duration, volatility, and convexity
• Calculating duration and convexity
• Duration as weighted cash-flow times
• Pictorial representation of duration
• Duration and modified duration
• Duration as a measure of price sensitivity
• DV01, PV01, PVBP of bonds
• computer Fixed income workshop

Treasury Markets

• Issuers and investors
• Why use bonds?
• The US Treasury Market
• T-Bills, T-Notes, and T-Bonds
• Auction process
• The secondary market
• The treasury yield curve
• Treasury strips
• Agency securities
• Bunds, JGBs, Gilts
• computer Treasuries simulation

Corporate and Other Bond Markets

• Corporate bonds
• Default risk
• Bond rating and rating agencies
• Covenants and seniority
• High-yield bonds
• Eurobonds and MTNs
• Floating rate notes (FRNs)
• Convertibles and hybrids
• Origination, syndication, and distribution
• Pricing and placing a corporate bond
• computer Exploring a recent corporate bond issue

When and Where
   16 Jan 2025
   09:00-17:00
   New York
   Markets

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Other Dates and Locations
Search for Foundations of Fixed Income in our course schedule for alternative dates and locations where this course is offered.