Understanding the Bond Markets

Overview:

Following the Financial Market collapse of 2008-09, Banks sharply cut back on the availability of credit lines as Regulators forced them to hold more capital. Simultaneously, Governments increased their borrowing to shore up the surviving Banks. Ten Years later Governments massively increased their borrowing to stave off the effects of Covid-19. Who lent all this money? The Bond Markets time had come; but do you really understand how everything fits together?

Why you should Attend:

With the Bond Markets being dominated by Institutional Investors, by attending this course participants will acquire a greater understanding of a market place which, for good reason, has traditionally had a lower public profile than many other Financial equivalent markets such as Equities, Foreign Exchange & Commodities.

Areas Covered in the Session:

• Who owns the Markets? Does it matter? Role of the Central Banks
• Understanding Bond Pricing - Coupons, Par Values, Yield to Maturity
• The Bond universe - Sovereigns, Corporates, Eurobonds, Convertibles, Exchangeables, Floating Rate Notes, Asset Backed, Zero Coupon
• Interest Rate sensitivity - Duration
• Credit Risk - From Investment Grade to Junk; From Rising Stars to Fallen Angels
• Understanding Yield Curves & what they tell you
• Investing Strategies
• • Credit Spread
  • Yield Curve
  • Bullets & Barbells
  • Liability Driven - By whom & why. The importance of Pension Funds
• Derivatives - Credit Default Swaps - Insurance or speculation?

Who Will Benefit:

• Middle & Back Office Professionals from Exchanges
• Regulators
• Asset Managers
• FinTechs
• Fund Administrators
• Investment Banks
• Wealth Managers
• Custodians
• Clearing Houses