Fixed Income Analysis and Valuation

Course Start Date: 17th September 2023

Training Duration: 4 Days

Practical application through exercises:

  • Excel Exercises

Learning Outcomes


Familiarize participants with the structure and functioning of the international primary debt markets to determine the most appropriate organization of financing for a particular borrower.


Getting to know the securities secured by mortgage and the securities secured by Euro assets and bonds.


Doing bond-related calculations for bond pricing and yield to maturity.

Bond sensitivity analysis using bond duration to determine bond yield curves.

Course Outlines

  • Role and scale of Debt Capital Market 
  • Bond Issues in the region
  • Types of Bond Issuers
  • Structure of different types of Bonds
  • Fundamentals of Credit Analysis
  • Credit Rating
  • Measuring credit risk using the four Cs of Credit Analysis
  • Credit Enhancement
  • Credit Migration
  • Approaches to credit strategies
  • Syndications & Syndications process
  • Pricing feedback/Market analysis
  • Strategizing optimum Syndication
  • Due diligence, approval & client negotiation
  • Securitization & structures of securitization
  • Mortgage-backed securities
  • Collateralized Debt Obligations
  • Valuation process for fixed income security
  • Interest rate Dynamics – relation between bond price and interest rates 
  • Valuing a bond with different coupon frequencies 
  • Exercise: Valuing a recently issued option free bond 
  • Yield measures for fixed coupon bonds, floating rate bonds and money market securities
  • Exercise: Calculating YTM on a live bond and analyze
  • Calculating and analyzing yield spread measures – G spread, Z spread and OAS
  • Exercise: Analyzing comparative attractiveness of comparable bonds using yield spread measures
  • Role of Fixed Income in a portfolio
  • Fixed Income Liquidity
  • Fixed Income investing mandates
  • Managing interest rate risks
  • Modelling expected return