available as an in-house course 


Course Outline

The purpose of the seminar is to provide an overview of bond instruments, key market players, the structure of bond markets, and the forces that drive these markets.

Participants will gain an understanding of the function of bonds and their role as a long-term debt instrument.
They will also get to grips with the nature of yield curves and what drives them and the price/yield relationship. The role of government debt markets and the concept of benchmark, with an emphasis on gilts, will also be covered.

Course Content

 Introduction to Bonds and Bond Markets
Structure of bonds and their cash flows
Comparison to equity and bank borrowings
The main bond market players

 How Bonds are Valued
The concept of the time value of money
The current yields of debt instruments and the derivation of a yield
  curve
Why certain patterns of yield curve emerge.
The relationship of yield to price and the concept of yield-to-maturity

 Bond Types
The role of bonds in Government policy
Gilts and other Government debt markets.
Domestic corporate bonds
Foreign bonds
"Euromarket" or "international" bonds
Floating rate notes
Bonds with equity "kickers"
Convertibles and warrants

 Primary Bond Issuance
Bringing a bond to market
Roles of the parties
Role of the ratings agencies
Medium term notes and private placements

 Secondary Markets
Trading techniques and hedging strategies
Market makers and information vendors
Brief introduction to repo-ing
Brief overview of duration hedging techniques

PDF of course outline - Please note that tailoring is possible


IF YOU HAVE ANY QUESTIONS ABOUT THIS SEMINAR PLEASE WRITE TO US AT post@redcliffetraining.co.uk

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