Fixed Income Professional Certificate: Online
Develop a complete set of desk-ready skills for fixed income market participants. You will learn how to determine fair values, yields and risk measures for a wide variety of instruments including government bonds, corporate bonds, mortgage securities and fixed income derivatives. Understand the structure and trading conventions of fixed income markets, and learn how to construct, interpret and trade the term structure of interest rates.
Prerequisite knowledge:
- Intermediate MS Excel skills
- Elementary differential calculus
- Basic probablility and statistics
- Basic familiarity with fixed income instruments
Watch our Fixed Income taster video to learn more about the course:
Learn now pay later with
To make it even easier to learn, you can finance your program through Affirm.
Loans offered through Affirm are available in the U.S. and Canada.
Module 1: Mathematics (Duration: 20 Mins)
Module 2: Basic Instruments (Duration: 4 Hrs)
- Lesson 1: Unit Zero Coupon Bond
- Lesson 2: Simple Discount Rate
- Lesson 3: US T-Bill
- Lesson 4: Unit Annuity
- Lesson 5: Mortgage
- Lesson 6: Unit Perpetuity
- Lesson 7: Unit Coupon Bond
- Lesson 8: Yield to Maturity
- Lesson 9: US Treasury Notes
Module 3: Term Structures (Duration: 2 Hrs)
- Lesson 1: Spot Interest Rates
- Lesson 2: Forward Interest Rate
- Lesson 3: Instantaneous Forward Rate
- Lesson 4: Term Structure and Yield Curves
- Lesson 5: Floating Rate Notes
Module 4: Interest Rate Risk Measures (Duration: 4 Hrs)
- Lesson 1: Introduction
- Lesson 2: Duration I
- Lesson 3: Duration II
- Lesson 4: Portfolio Immunization
- Lesson 5: Convexity
- Lesson 6: More on US T-Bill
Module 5: Fixed Income Risk Management (Duration: 10 Mins)
Module 6: Corporate Bonds (Duration: 3 Hrs 30 Mins)
- Lesson 1: Credit Risk and Modeling
- Lesson 2: Hazard Rates
- Lesson 3: Default Time Distribution Function
- Lesson 4: Zero Recovery Bond
- Lesson 5: Time-Varying Hazard Rates
- Lesson 6: Bonds & Piece Wise Constant
- Lesson 7: Zero Recovery Bond II
- Lesson 8: Recovery at Maturity and Default
- Lesson 9: Coupon Bond
Module 1: Fixed Income Markets( Duration:2hrs)
- Lesson 1: Global Bond Markets
- Lesson 2: US Bond and Treasury Market
- Lesson 3: FED Open Market Operations
- Lesson 4: US Credit Bond Market: Liquidity
- Lesson 5: Electronic Trading
Module 2: Sovereign Debt Instruments (Duration: 10 Mins)
Module 3: Repurchase Agreements (Duration: 45 Mins)
- Lesson 1: Introduction
- Lesson 2: Repo Arithmetic
- Lesson 3: Characteristics & Special Collateral
- Lesson 4: Classic Repo
Module 4: Mortgage Markets (Duration: 2 Hrs)
- Lesson 1: Quick History
- Lesson 2: Securitization Process
- Lesson 3: Mortgage Pass-Through Securities
- Lesson 4: Prepayments
- Lesson 5: MBS Trading
- Lesson 6: TBA Trade Mechanics
- Lesson 7: Repo vs Dollar Bill
- Lesson 8: Spreads
- Lesson 9: Evaluating Pass-Throughs
- Lesson 10: Pass-through Risk Measurement
- Lesson 11: Pass-through Risk Measurement
- Lesson 12: Convexity
- Lesson 13: Strategic Default Models
Module 5: Forwards and Swaps (Duration: 2 Hrs)
- Lesson 1: Forward Rate Agreement
- Lesson 2: Interest Rate Swaps
- Lesson 3: Swaps
- Lesson 4: Example
- Lesson 5: Overnight Index Swaps (OIS)
Module 6: Interest Rate Derivatives (Duration: 1 Hr 15 Mins)
- Lesson 1: EURODOLLAR Futures
- Lesson 2: Treasury Futures
- Lesson 3: Risk Management Strategies
- Lesson 4: Quantifying and Managing Interest Rate (Price) Risk
- Lesson 5: Swaptions
- Lesson 6: Interest Rate Options and Floating Rate
- Lesson 7: Cap, Interest Rate, and Floor Example
Module 7: Corporate Bonds and Credit Derivatives (Duration: 1 Hr 15 Mins)
- Lesson 1: Key Rate and Credit Spread Duration
- Lesson 2: US Bond Markets: Cov-lite
- Lesson 3: Corporate Bonds
- Lesson 4: Asset Swaps
- Lesson 5: Credit Derivative
- Lesson 6: Portfolio Credit Default Swap
Module 1: Yield Curve Fundamentals (Duration: 2 Hrs)
- Lesson 1: Spot Zeros and Spot Interest Rates
- Lesson 2: Yield Curve
Module 2: Yield Curve Construction (Duration: 2 Hrs)
- Lesson 1: Bootstrapping
- Lesson 2: Splines
- Lesson 3: Yield Curve Fitting
Module 3: Interest Rate Modelling (Duration: 2 Hrs)