Fixed Income and Debt

Fixed Income: Bonds


This course aims to cover the key fundamentals of fixed income securities: Bonds – explaining market terminology and the different types of bond structures available. The course will include topics that cover the valuation and risks of bonds. Specific topics to be covered include yield curves, pricing, and duration.


1.Features of a Straight bond
   - Issuer, face value, term to maturity
   - Seniority
2.Credit ratings
3.Types of bonds
   - Callable bonds
   - Floating rate bonds
   - Inflation linked bonds
   - Convertible bonds
   - Perpetual & Subordinated bonds
   - Bonds with loss absorption features (CoCos)
4.Bond pricing and yield
5.Term structure of interest rates
   - Yield curves
   - Interest rate theories
6.Bond Valuation
   - Valuation of bond by Yield to maturity
   - Yield Spreads
   - Accrued interest
7.Bond risks
   - Credit risk
   - Inflation risk
   - Interest rate risk
   - Other risks
8.Measuring interest rate and term risk: Duration

Who should attend

This course will help those with little or no knowledge of bond and fixed income securities to gain a good understanding of the market terminology and valuation aspects of bonds. It would be particularly relevant for investment managers, advisors, private bankers, operations and support staff and others involved in the selling or buying of fixed income securities.

Speaker/Course Instructor

Mr. James has over 20 years of international banking experience, which includes risk management, debt capital markets, derivatives trading and investments. He began his career as a derivative risk analyst with a Canadian Bank in Toronto before moving to London, focusing on debt capital markets and derivatives, working for several large international banks as Director of European Derivatives Marketing.

Following 8 years in the UK, he moved to Asia in 1991, working for a large international investment bank and later became the Head of Investment Advisory Group of their Private Bank in Hong Kong. Most recently, he was the Head of Investment Services, Advisory and Discretionary for two boutique Swiss private banks.

Mr. James obtained an Honors business degree from Wilfrid Laurier University, Waterloo Canada, and an MBA from the University of Toronto, Toronto Canada.


Date & Time
Tuesday, 15 Jan 2019 (6:30PM - 9:30PM)
HKSI Institute Training Centre
SFC:3.00, PWMA:3.00