Andrew Loo – CFI Education – Advanced Fixed Income

Description

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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

• Frequently Asked Questions:

  1. Innovative Business Model:
     • Embrace the reality of a genuine business! Our approach involves forming a group buy, where we collectively share the costs among members. Using these funds, we purchase sought-after courses from sale pages and make them accessible to individuals facing financial constraints. Despite potential reservations from the authors, our customers appreciate the affordability and accessibility we provide.
  2. The Legal Landscape: Yes and No:
     • The legality of our operations falls into a gray area. While we lack explicit approval from the course authors for resale, there’s a technicality at play. When procuring the course, the author didn’t specify any restrictions on resale. This legal nuance presents both an opportunity for us and a boon for those seeking budget-friendly access.
  3. Quality Assurance: Unveiling the Real Deal:
     • Delving into the heart of the matter – quality. Acquiring the course directly from the sale page ensures that all documents and materials are identical to those obtained through conventional means. However, our differentiator lies in going beyond personal study; we take an extra step by reselling. It’s important to note that we are not the official course providers, meaning certain premium services aren’t included in our package:
       • No coaching calls or scheduled sessions with the author.
       • No access to the author’s private Facebook group or web portal.
       • No entry to the author’s exclusive membership forum.
       • No direct email support from the author or their team.

     We operate independently, aiming to bridge the affordability gap without the additional services offered by official course channels. Your understanding of our unique approach is greatly appreciated.

  Refund is acceptable:

  • Firstly, item is not as explained
  • Secondly, Item do not work the way it should.
  • Thirdly, and most importantly, support extension can not be used.

  Thank you for choosing us! We’re so happy that you feel comfortable enough with us to forward your business here.