Comprehensive Understanding of Financial Markets

Day 2: Bonds

Introduction to Bond Markets:
  • Main Players
  • The Investor Perspective
  • The Borrower Perspective
  • The Intermediaries Perspective
  • Credit Structure, Ratings and Credit Agencies
Bond Market Segments:
  • Domestic Bond Market
  • Foreign Bond Market
  • Eurobond Market and the Asian Bond Market
  • Global Bond Markets
Description of Different Government Bond Markets:
  • United States: US Treasuries
  • Japan: JGB's
  • Italy: BTP's
  • Germany: Bund's, BobI's
  • United Kingdom: Gilt's
Bond Pricing:
  • Pricing and Valuation of Fixed-Rate Bonds
  • Accrued Interest
  • The Relationship between Price, Yield and Coupon
The Debt Origination Process:
  • The Role of Banks as Intermediaries between Borrowers and Investors
  • The Interplay between Origination, Sales and Trading
  • Syndication of New Issues
Variations to Fixed-Income Bonds:
  • Floating Rate Notes (FRN's)
  • Zero-coupon Bonds
  • Step-up Coupon Bonds
  • Convertibles
  • Bonds with Equity Warrants
  • Callable Bonds
  • Asset-backed Securities
  • Strips
  • Repurchase Agreements (Repo's)


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