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In our two-day training you will explore the fascinating world of fixed income securities and interest rate markets. We will start by reviewing the basic building blocks of yield curves and bond math and build our way up to interest rate swaps and credit derivatives.
There are no prerequisites for this course – even though some basic understanding of financial markets would be helpful, it is not required.
- Gain a solid understanding of fixed income markets, its major players and various interest rate products.
- Recognize how compounding frequency impacts the total interest earned.
- Learn about various yield curve trading opportunities and how they can be exploited.
- Know the relationship between interest rates, forward rates and swap rates.
- Appreciate the specifics of government bonds and corporate debt.
- Understand the role Central Banks play in fixed income markets.
- Find out how to price interest rate and cross currency swaps.
- Be able to construct a complete interest rate curve using Libor rates, Eurodollar futures and swap rates.
- Develop an intuitive and mathematical understanding behind bond duration and convexity.
- Learn how Credit Default Swaps can be used to protect against bond defaults.
- Private traders and investors, looking to learn about bonds and interest rate markets.
- Professionals within the financial industry or those providing services to the financial sector.
- Professionals performing financial functions in non-financial industries, such as corporate treasury, accounting, and investor relations.
- Students, preparing for an upcoming internship or starting their careers in finance.
- Anyone working in or looking to understand fixed income markets.
- Active trader specializing in Equity Derivatives and Volatility trading.
- Former Goldman Sachs Quantitative Analyst.
- Working in finance since 2008.
- Professional career includes Nomura, Bloomberg and Goldman Sachs.
- Cross asset-class experience covering Equities, Fixed Income, FX and Commodities.
- Teaching financial courses since 2013.
- Holds Masters of Engineering from Imperial College London.
- Holds Masters of Science in Mathematical Finance from University of Oxford.
Time Value of Money and Bond Securities:
- Discounting and compounding.
- Net Present Value (NPV) and Internal Rate of Return (IRR).
- Zero-coupon, fixed-coupon and floating-coupon bonds.
- Bond math.
- Yield to maturity.
- Duration and convexity.
- Term structure of interest rates.
- Theories behind the yield curve.
- The normal yield curve.
- Downward slopping yield curve.
- Government and corporate yield curves.
- Yield curve strategies and trades.
Fixed Income Market Conventions:
- Quotation and market standards.
- Interest rate benchmarks and reference rates.
- Central Banks.
- Credit ratings and rating agencies.
- Investment grade, high-yield and junk bonds.
Domestic and International Money Markets:
- Interbank market.
- Treasury bills.
- Commercial paper.
- Certificates of deposit.
Government and Sovereign Debt:
- Overview of sovereign debt.
- Government bond risks.
- US Treasury bonds and yield curve.
- European and international debt.
- Emerging Market debt.
- Eurobond market.
- Corporate bond risks.
- Redemption types and bond features.
- Convertible bonds.
- Credit spreads.
Interest Rate Swaps:
- Pricing and valuation of Interest Rate Swaps.
- Comparative advantage theory.
- Quote conventions.
- Cross-currency swaps.
- Spread and fly trades.
Extending the Yield Curve:
- Treasury and Bond Futures.
- Eurodollar Futures.
- Libor zero curve or a swap zero curve.
- Bootstrapping method.
- Sourcing short-term, medium-term and long-term rates.
Fixed Income Derivatives:
- Forward Rate Agreement (FRAs).
- Interest rate caps and floors.
- Credit Default Swaps.
- Mortgages and securitization.
Class size:20 students
- Formal completion certificate.
- Course notes and materials.
- Follow-up support – ability to ask questions and seek further clarification, if needed.
- 20% OFF any future courses you wish to attend.
At the moment, we are planning for all of our training courses starting with September 2020 to go ahead in a physical location in Central London.
In case if circumstances change and we won’t be able to deliver the course in a classroom setting, we will deliver it virtually online via Zoom.
If this happens, we will get in touch and ask if you would like to go-ahead and attend the course virtually or if you prefer to cancel for a full refund.
We accept all major credit and debit cards, and PayPal.
You will receive this by email after completion of any of our classes.
You can cancel your booking and receive a full refund up to one month in advance of the course start date.
If you made a booking for a seminar that starts in less than one month, you can cancel for a full refund within the 14 days of making the booking.
In case if we are unable to deliver a course in a physical classroom and had to move it online due to COVID-19, you can also cancel and request a full refund if you don’t want to attend the course virtually.
There are no prerequisites for this course – even though some basic understanding of financial markets would be helpful, it is not required!
Trading profitably and consistently is not trivial, and like with any other skill, it requires a lot of studying, hard-work, dedication and persistence in order to master.
Our “Fixed Income Markets” training course is an excellent starting point, but definitely not sufficient in order to start trading fixed income markets profitably.