Fixed Income Sales, Trading, Markets, and Investing

Our Fixed Income Sales, Trading, and Investing Course is the only one of its kind that will take you from the basics of bond math all the way to the sophisticated strategies used by real Wall Street professionals.  Whether you’re an ambitious beginner looking to land a job or an experienced finance practitioner looking to sharpen your edge, this course arms you with the technical skills and the intuitive framework to thrive in the world of Fixed Income.

You’ll start by mastering the mechanics of Fixed Income valuation with hands-on Excel modeling, gaining fluency in essential concepts like yield, duration, and risk. From there, you’ll dive into the world of derivatives: from swaps to swaptions, mortgage-backed securities, and credit default swaps. Finally, you’ll put everything together by exploring how investors interpret monetary policy signals and economic data and use that analysis to put dollars at risk. We’ll explore the mechanics of macro and relative value trades, yield curve strategies, and option structures. Once you’ve completed this course, you’ll have the skill to think and operate like a Fixed Income expert.

Fixed Income Sales & Trading, Markets, and Investing

  1. Part I: Bond Math Basics

    20 lessons
    1. 1. Introduction
    2. 2. Breaking In
    3. 3. Interest Rates for Dummies
    4. Quiz 1: Interest Rate Basics & Long/Short Intuition
    5. 4. Case Study Intro
    6. 5. Intro to Securitization
    7. 6. Key Terms
    8. Quiz 2: Bond Terminology and Applications
    9. 7. Intro to Corporate Bond Issuance
    10. 8. Time Value of Money
    11. 9. Build Your Own Basic Bond Model
    12. 10. The Price/Yield Relationship
    13. Quiz 3: Bond Model Practice
    14. 11. Macaulay Duration
    15. 12. Modified Duration and DV01
    16. Quiz 4: Duration and DV01
    17. 13. What Else Impacts Duration?
    18. 14. Convexity Intuition
    19. 15. Negative Convexity
    20. 16. Who Cares about Bonds, Anyway?

  2. Part II: Fixed Income Derivatives

    24 lessons
    1. Assessment
    2. 1. Intro to Derivatives
    3. 2. Leverage and Funding Basics
    4. Quiz 2: Funding Markets and Carry Intuition
    5. 3. Intro to Futures and Interest Rate Swaps
    6. Quiz 2: Futures and Swaps Fundamentals
    7. 4. Interest Rate Swaps: History and Regulations
    8. 5. Modeling an Interest Rate Swap
    9. Quiz 3: Practice with Swaps
    10. 6. Off-Market Swaps
    11. Quiz 4: More Practice
    12. 7. Swaps in Practice: Rate Locks
    13. 8. Modeling and Executing a Rate Lock
    14. Quiz 5: Execution Protocol
    15. 9. Valuing and Unwinding a Hedge
    16. 10. Interest Rate Swaps for Asset/Liability Management
    17. 11. Intro to Options
    18. Quiz 6: Basic Options Concepts
    19. 12. The Interest Rate Options Market
    20. 13. Basic Swaption Pricing
    21. Quiz 7: Swaption Intuition
    22. 14. Intro to Mortgages
    23. 15: Intro to Credit and Credit Default Swaps
    24. 16: Intro to Foreign Exchange

  3. Part III: Macro and Relative Value: from Theory to Trades

    15 lessons
    1. 1: The Practitioner’s Guide to Monetary Policy and Economic Indicators
    2. 2: U.S. Treasuries 101
    3. 3: U.S. Treasuries: Auction Deep Dive
    4. Quiz 1: Monetary Policy, Treasuries, and Auctions
    5. 4. The Treasury Futures Basis
    6. Quiz 2: The Treasury Futures Basis
    7. 5: TIPS and Inflation Derivatives
    8. 6: Curve Steepeners and Flatteners
    9. 7: Butterflies
    10. 8: Conditional Curve Trades
    11. 9: Straddles and Strangles
    12. 10: Costless Swaption Collars
    13. 11: Risk Reversals and Put/Call Spreads
    14. 12: Spread Trades
    15. Final Assessment