Introduction to Fixed Income Training Course

What is Fixed Income Securities?

Types of Fixed Income Securities
 - Government Bonds (Bills, Notes, Bonds)
 - Corporate Bonds  
 - Zero Coupon Bonds
 - High Yield Bonds
 - Medium Term Notes
 - Commercial Paper
 - Structured Notes
 - Asset Backed Securities
 - Mortgage Backed Securities

Fixed Income vs Equity
 - What is Equity
 - What is the difference between Fixed Income and Equity

Structure of the Fixed Income Market for Government
 - Introduction to the Fixed Income Market
 - Major Players
 - How to Buy Bonds

Basic Features of Bonds
 - Maturity
 - Par Value
 - Coupon Rate
 - Currency Denomination

Bond Indenture and Covenants

Legal, Regulatory, and Tax Considerations
 - International Bonds
 - Government Bonds
 - Tax Considerations

Fixed Income Risks
 - Interest Rate Risk
 - Reinvestment Risk
 - Inflation Risk
 - Credit/Default Risk
 - Rating Downgrades Risk
 - Liquidity Risk
 - Volatility Risk
 - Exchange-rate Risk
 - Event Risk

Pricing of Fixed Income Securities for Government
 - How to Determine a Fair Price
 - Features of a Bond and Yield Measures
 - Basic Calculation of a Bond Price

Introduction to Fixed Income Valuation
 - Bond Pricing with a Market Discount Rate
 - Relationship Between the Bond Price and Bond Characteristics
 - Pricing Bonds
 - Flat Price and Full Price
 - Matrix Pricing
 - Yield Measures for Fixed-Rate Bonds
 - Discount Basis Yield and Add-On Rate
 - Maturity Structure of Interest Rates
 - Forward Rate and Spot Rate
 - Yield Spreads

Principal Repayment Structures
 - Bullet Bond
 - Fully Amortized Bond
 - Partially Amortized Bond

Coupon Payment Structures

Bonds with Contingency Provisions
 - Callable Bond
 - Putable Bond
 - Convertible Bond

Fixed Income Derivatives for Government
 - Credit Default Swaps
 - Interest Rate Swaps
 - Inflation Swaps
 - Bond Futures
 - Interest Rate Futures
 - Forward Rate Agreements