Interest Rates and Fixed Income Markets
Theory and practice behind corporate and government bonds.
2 - 3 Jul 2022
Starts in:
  • – – Days
  • – – Hours
  • – – Min
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Course category:
2 days
6 hours/day
Class size:
25 students
An exciting training course created for those interested in interest rate markets.

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.

What will you learn?
By the end of the course, you will:
  1. Gain a solid understanding of fixed income markets, its major players and various interest rate products.
  2. Recognize how compounding frequency impacts the total interest earned.
  3. Learn about various yield curve trading opportunities and how they can be exploited.
  4. Know the relationship between interest rates, forward rates and swap rates.
  5. Appreciate the specifics of government bonds and corporate debt.
  6. Understand the role Central Banks play in fixed income markets.
  7. Find out how to price interest rate and cross currency swaps.
  8. Be able to construct a complete interest rate curve using Libor rates, Eurodollar futures and swap rates.
  9. Develop an intuitive and mathematical understanding behind bond duration and convexity.
  10. Learn how Credit Default Swaps can be used to protect against bond defaults.
And much more!
Who is the course for?
  • 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.
Who is teaching the course?

Sergei Perfiliev

  • 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.
Course Content:
Day 1
  1. 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.
  2. Yield Curves:
    • 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.
  3. 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.
  4. Domestic and International Money Markets:
    • Interbank market.
    • Treasury bills.
    • Commercial paper.
    • Certificates of deposit.
    • Repos.
  5. 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.
Day 2
  1. Corporate Bonds:
    • Corporate bond risks.
    • Redemption types and bond features.
    • Convertible bonds.
    • Credit spreads.
  2. Interest Rate Swaps:
    • Pricing and valuation of Interest Rate Swaps.
    • Comparative advantage theory.
    • Quote conventions.
    • Cross-currency swaps.
    • Spread and fly trades.
  3. 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.
  4. Fixed Income Derivatives:
    • Forward Rate Agreement (FRAs).
    • Interest rate caps and floors.
    • Swaptions.
    • Credit Default Swaps.
    • Mortgages and securitization.
What’s the format?
Dynamic in-class lectures.
Practical assignments and exercises.
Interactive demos and examples.
Challenging quizzes and tests.
Next available dates and pricing:
Interest Rates and Fixed Income Markets
  • Course category:
  • Location:
  • Duration:
    2 days
  • Class size:
    25 students
2 - 3 Jul 2022
Get 10% off!
Date to be confirmed
Coming soon
What will you get upon completion?
  • 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.
What our training participants say?
Financial Software Developer
"An excellent presenter and an enjoyable course, complex material presented in an approachable fashion."
Accounts Manager
“Sergei led various financial trainings and I really enjoyed his teaching style and dedication to his students. He always made sure students were engaged and understood the topic before moving on. I would recommend Sergei for his professionalism and deep knowledge.”
Financial Sales
“Sergei is a very good teacher, and is able to explain clearly complex concepts. I felt his course was time well spent.”
Financial Sales
“As part of a financial training program, Sergei equipped me with the knowledge that I am still benefiting from seven years later. He has an ability to deliver complex subject material in a digestible way.”
Account Executive
“Sergei held one of the best training sessions on equity derivatives at the onset of my career in finance. He was able to put together a fully comprehensive and detailed yet digestible programme. His strength is delivering complex concepts in a simplified and engaging manner.”
Financial Software Engineer
“Sergei taught me statistics in the context of equity asset prices and he managed to help me finally connect the maths to the real life applications of it. He's very practical and effective in helping you understand hard concepts.”
Head of Pricing
“Sergei has a dynamic approach to teaching and his ability to breakdown complex commercial concepts makes learning easy and memorable. I still remember his enthusiasm after 7 years and always happy to learn from him.”
Software Engineer
“I attended Sergei's derivatives training a few years ago. Sergei clearly explained what they are, the motivation behind them and how they're traded in concrete terms. After the training I had a solid understandings on the topic and I would recommend Sergei's training.”
Data Analyst
“Amazing training! Sergei does a great job at explaining the concepts using simple analogies which makes the complex world of finance very clear.”
Investment Professional
“Sergei is one of the best instructors I have ever met. He understands people learn in different ways and can adjust his teaching style. I would highly recommend him, especially when you are trying to learn something complicated or you want to learn something quickly.”
Quantitative Developer
“Sergei's sessions were great! He always made them engaging and fun.”
Machine Learning Engineer
“Sergei’s lucid explanations helped me get a deeper grasp of the concepts I was grappling with, whilst giving me a new perspective on the material. I credit him with getting me up to speed when I needed it most.”
Frequently Asked Questions:
Are there any arrangements regarding COVID-19? Will the training go ahead as planned?

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.

What payment methods do you accept?

We accept all major credit and debit cards, and PayPal.

How can I get a 20% discount for my next training course?

You will receive this by email after completion of any of our classes.

What if I need to cancel my booking?

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.

Are there any pre-requisites in order to attend this course?

There are no prerequisites for this course – even though some basic understanding of financial markets would be helpful, it is not required!

Will I become a rich and successful trader after attending this course?

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.

Want to run this training in-house?

Get in touch!

All our training courses can be tailored to your company needs and requirements.

Feel free to call us on +44 207 459 4445 or email and we’d be happy to help.

Learn more