The aim of this module is to introduce students to the fixed income market. The module starts by discussing the relevance of fixed income securities in today’s world. This is followed by a description of the main fixed income securities. The module then explores the issuance of fixed income securities, including their pricing and trading strategies and the risk management of fixed income assets. While the lecture introduces the key concepts, the seminars are more practical and provide an opportunity to apply the knowledge. Students are expected to attend lectures and to engage fully with the seminar exercises.
On the practical side, students will learn to price and identify mispriced fixed income assets and to formulate trading strategies to capture the mispricing. Successful students should be able to analyse economic news and appreciate its impact on fixed income securities.