Andrew Loo – CFI Education – Advanced Fixed Income

Description

Andrew Loo – CFI Education – Advanced Fixed Income download, Andrew Loo – CFI Education – Advanced Fixed Income review, Andrew Loo – CFI Education – Advanced Fixed Income free
Andrew Loo – CFI Education – Advanced Fixed Income
Advanced Fixed Income

Learn advanced technical and mathematical concepts within fixed income capital markets
 
Overview

Advanced Fixed Income Course Overview

This Advanced Fixed Income course will explore some more advanced topics within fixed income capital markets. This course will use more technical and mathematical concepts to teach you not only to understand these advanced concepts but also to be able to calculate how we get them.
We will explore what bootstrapping is and how we can use it to construct hypothetical yield curves. Then, we will look at using the forward curve to value derivatives. We will also discuss constructing and fitting yield curves and using the cheap-rich analysis to see if a bond is rich or cheap.
Finally, we will look at the bond futures contract and calculate the implied repo rate to determine which bond is the most cost-efficient in the deliverable basket to deliver physically.
 
Advanced Fixed Income Learning Objectives

Upon completing this course, you will be able to:

Understand different variations of yield curves (e.g., par, spot, and forward yield curves)
Construct hypothetical yield curves using bootstrapping
Fit yield curves based on a series of yield observations
Learn how to tell if a bond is rich or cheap using cheap-rich analysis
Understand bond futures and how to determine which bond is the most economical to deliver

 
Who Should Take This Course?

This Advanced Fixed Income course is perfect for anyone who wants to have a deeper analytical understanding when using market-data providers such as Refinitiv Workspace. The individual wants to gain more breadth in fixed income or desires to cover some more advanced topics within fixed income.
This course is designed to equip anyone who desires to begin a career in the capital markets on a fixed income desk or prepare for career advancement from junior to more senior fixed income trading or sales positions.
 
What you’ll learn

Introduction

Course Introduction

Downloadable Files
Constructing Yield Curves

Yield Curves

Zero-Coupon Yield Curve

Interactive Exercise 1

Par Yield Curves

Coupon Yield Curves

Significance of Hypothetical Curve

Significance of Hypothetical Curve Continued

Interactive Exercise 2

Bootstrapping

Bootstrapping Example

Bootstrapping a Swap Curve

Bootstrapping Spot0X6

Bootstrapping Spot0X9-Spot0X12

Bootstrapping Exercise

Discount Factors

Discount Factors Continued

Forward Yield Curve

Proving Spot vs. Spot and Forward

Interactive Exercise 3

Using the Forward Curve to Value Derivatives

Value Derivatives

Interactive Exercise 4
Fitting Yield Curves and Cheap-Rich Analysis

Fitting

Purpose of Fitted Curve

Relative Value–Cheap/Rich Analysis

Relative Value–Cheap/Rich Analysis Continued

Cheap/Rich Reports Limitations

Interactive Exercise 5
Bond Futures and The Cheapest-to-deliver

Government Bond Futures Contract

Interactive Exercise 6

Delivery

Conversion Factor

Invoice Amount

Comparing Principal Invoice Amounts

Futures/Cash Basis

Interactive Exercise 7

Implied Repo Rate

Implied Repo Rate Example

Net Basis

Basis Optionality

Cheapest to Deliver Exercise
Qualified Assessment

Qualified Assessment

 
This Course is Part of the Following Programs

Why stop here? Expand your skills and show your expertise with the professional.
All Capital Markets & Securities Analyst (CMSA)® Courses

Advanced Fixed Income is part of the Capital Markets & Securities Analyst (CMSA)®, which includes 41 courses.

Skills Learned

Trading strategies used in the finance and capital markets
Career Prep

Work in capital markets, whether on the buy-side or the sell-side