Money Market, Fixed Income & Investment Management

Course Overview

This course focuses on the current profile of the money and fixed income markets. It emphasises the integrated nature of the markets and explores how the different products provide opportunities for the fixed income investor.

The programme also analyses their cash flow, liquidity characteristics, risk profiles and how the products and fixed income portfolio can be hedged against market and credit risk.

Learning Objectives

• Develop a broad knowledge of the money, fixed income and credit markets and products.
• Evaluate the cash flow and liquidity profile of both short- and long-term debt investments.
• Identify the main money market instruments and interpret the market quotations between the different instruments.
• Identify the risk associated with money market investments.
• Be proficient in the fundamental maths of the money and fixed income markets.
• Compare the similarities and differences between types of fixed income instruments and how they fit into a fixed income portfolio.
• Acquire a sound understanding of the risk and return characteristics of fixed-income securities including government bonds, investment grade and high-yield corporate bonds and structured credit products.
• Be able to develop and apply fixed income investing and hedging techniques.
• Describe how derivatives are used for portfolio risk management and asset liability management.
• Learn how to use and interpret the risk measures to construct and evaluate trades that express views about the level of interest rates, the shape of the yield curve, and relative value in credit risky bonds.