Overview

This tutorial introduces the fundamentals of bonds as a fixed income instrument, covering the key features and terminology associated with these securities in addition to outlining the role of the major players in the market. We look at the secondary market trading and settlement practices.

Objective

On completion of this tutorial, you will be able to:
- Recognise the key features associated with bonds
- Identify the main issuers and investors in the global bond markets and their respective motivations for issuing/investing
- Distinguish between single-price and multiple-price auctions used for issuing government bonds
- Identify the pricing and distribution practices used by bond underwriting syndicates
- Recognise how the nature of bond secondary market trading has changed in recent times

Content

Module 1: Bond Markets - An Introduction
Topic 1: Overview of Bonds
Topic 2: Bond Issuers & Investors

Module 2: Bond Markets - Issuing & Trading
Topic 1: Bond Auctions
Topic 2: Bond Underwriting
Topic 3: Bond Trading & Settlement