Fixed Income and Debt

Fixed Income Analysis - Part 9 (2023)

Overview

This eCourse consists of two modules. Module 1 looks at the different issuer and investor options and their associated costs and benefits. It also covers how to develop complex models which may be used to price embedded options.

Module 2 looks at how inflation arises, how investors can manage inflation risk using inflation-linked securities, and the structures used with these instruments.

Objective

On completion of this course, you will be able to:
- Identify the different issuer and investor options and their associated costs and benefits
- Recognise the problems valuing embedded option and illustrate how a binomial-tree may be used to price them
- Recognise the phenomenon of inflation in modern economies
- Identify the key structures used with inflation-linked securities and how these instruments are used to manage inflation risk
- Calculate yields and prices for conventional bonds and inflation-linked securities
- Identify the key features of inflation swaps

Content

Module 1: Option-Linked Securities
Topic 1: Basics of Embedded Options
Topic 2: Valuation of Option-Linked Securities

Module 2: Inflation-Linked Securities
Topic 1: Overview of Inflation
Topic 2: Overview of ILS
Topic 3: Yield & Price Calculations
Topic 4: Inflation Swaps

Details

Code
TEPFD23006401
Venue
ePlatform
Relevant Subject
Type 1 - Dealing in securities
Type 4 - Advising on securities
Language
English
Level
Intermediate
Hours
SFC:1.50, PWMA:1.50
Fees
All Member: HK$460
Staff of Corporate Member: HK$460
Non-Member: HK$665