Fixed Income Post-Covid

Course Overview

Knowledge of the fixed income or bond markets is essential to understanding the broader financial landscape. This programme offers comprehensive instruction on bond markets, spanning from foundational concepts to practical trading strategies, with emphasis on real-world applications and contemporary examples.

Key Learning Objectives

Participants will develop an understanding of:

• Core features of straight bonds
• Bond issuers, purchasers and their motivations
• Yield calculation methodologies
• Risk assessment in yield determination
• Yield curve construction and interpretation
• Bond pricing and issuance mechanisms
• Repo market significance
• Duration and PV01 metrics
• Convexity applications
• Specialised bond types and associated risks

Agenda

• Session One — Fundamentals: bond market scope; bond classification; issuer and investor types; government bond benchmarks; yield measurement; risk evaluation; yield curve analysis and trading strategies
• Session Two — Primary and secondary markets: domestic versus Eurobond markets; issuance methods (auctions and syndicated issues); credit ratings; non-government bond pricing approaches; key bond covenants
• Session Three — Technical matters: accrued interest and pricing conventions; repo applications; interest rate risk quantification through duration; convexity limitations; zero coupon valuation
• Session Four — Other bond types: high yield bonds; floating rate notes; inflation-linked bonds; AT1 and subordinated capital; covered bonds; asset-backed securities; convertibles; structured bonds; Islamic-compliant instruments