You'll explore the roles of origination, syndication, trading and sales as well as the interplay between the buy side and the sell side, and the relationship between the bond and the swap markets and the drivers of the structured products market. You’ll learn how to trade the yield curve and how to hedge portfolios
with swaps and futures.
You'll return to work able to:
• price fixed rate bonds at a glance - without using a calculator
• price fixed rate bonds on your phone and in Excel
• understand the relationship between fixed rate bonds and floating rate notes
• determine whether bonds are cheap or expensive
• use asset swaps as a pricing tool for credit risk
This is a very practical tour of the bonds and fixed income markets. Some of the featured deals will be less than 24 hours old when you see them, emphasising how the markets work today. Case studies include: Benchmarking corporate bonds to an interpolated curve, Philip Morris International Inc 2.875% May 2029, Using duration to calculate hedge ratios, The uses of repos and reverses, Understanding CoCos
Five exercises including: Trading the yield curve; Duration weighted hedging
. Overview of the capital markets
. Bond and fixed income mechanics
. Market conventions and conversions
. Practical bond pricing technique
. Pricing floating rate notes
. Understanding bond sensitivities
. Using duration as a hedging or trading technique
. Bond portfolio management
. Getting to grips with repos and reverses
. Introduction to interest rate derivatives
. Strips as a benchmark for pricing non-standard bonds
. Term structure of interest rate
. Asset-backed securities – liability swaps and the bond markets
. Asset swaps and bond markets
. Swap pricing – swap valuation
. Credit curves and benchmarking
We have been delivering online training for many years and know how to ensure the interaction is the same as if you were in a classroom.
The trainer will share his screen to allow you to follow the training session, which will be very practical. Our trainer will include polls, group work, exercises, discussions and breaks.
The course will be 50% pre-recorded, on-demand material that can be accessed at the delegates preferred time. 50% will be delivered ‘live’ with the trainer – timings of this will be flexible in order to best meet the requirements of the demographics of the delegates.
You will be able to ask questions, give feedback and participate in the practical sessions. Class sizes will be capped to ensure every delegate will be guaranteed quality time with the trainer.
Alan McDougall worked in the markets for 30 years both as a trader and a trainer. He is a visiting lecturer at the Cass Business School.
Dates: 16-20 November 2020
Online course fee: £2999 + VAT if applicable
London course fee: £4999.00 + VAT @ 20% = £5998.80
"Good overview of the courses/markets and their users. The parts that I enjoyed most from the course were practical applications, stories from inside the business and historical content of bond pricing. The course compared far better than other courses I have previously attended"