Yield Curve Analysis

The bond market changes daily. Specifically, the yield curve changes daily. This course addresses these movements which cause changes in investor attitude, the relative value of certain products, and the appeal of certain investments over others.

This program provides an overview of the foundations and application of various types of yield curves. Part of the program will deal with theoretical issues such as the determinations of the level and shape of the term structure of interest rates, as well as the relationship between changes in the shape of the curve or the spread between the curves. The focus will be on the mathematics of yield curves, the related analytic tools and methodologies. For those involved in fixed income sales or related instruments or supporting trading or portfolio management of such instruments.

12-Sep-2008 -- 12-Sep-2008ChicagoUSD$1475register
NY Institute of Finance - Chicago9:00am - 4:30pm Instructional Method:
Group-Live		email course to a friend
Instructor(s): [ Douglas Carroll; ] Fri Level: Intermediateemail a sales rep
CPE Credits: 7.0print this course

19-Sep-2008 -- 19-Sep-2008New YorkUSD$1475register
NY Institute of Finance - Downtown9:00am - 4:30pm Instructional Method:
Group-Live		email course to a friend
Instructor(s): [ William Addiss; ] Fri Level: Intermediateemail a sales rep
CPE Credits: 7.0print this course

07-Nov-2008 -- 07-Nov-2008New YorkUSD$1475register
NY Institute of Finance - Midtown9:00am - 4:30pm Instructional Method:
Group-Live		email course to a friend
Instructor(s): [ William Addiss; ] Fri Level: Intermediateemail a sales rep
CPE Credits: 7.0print this course

21-Nov-2008 -- 21-Nov-2008StamfordUSD$1475register
NY Institute of Finance - Stamford, CT9:00am - 4:30pm Instructional Method:
Group-Live		email course to a friend
Instructor(s): [ NYIF Instructor; ] Fri Level: Intermediateemail a sales rep
CPE Credits: 7.0print this course

12-Dec-2008 -- 12-Dec-2008San FranciscoUSD$1475register
NY Institute of Finance - San Francisco8:30am - 3:30pm Instructional Method:
Group-Live		email course to a friend
Instructor(s): [ Richard F. Clements; ] Fri Level: Intermediateemail a sales rep
CPE Credits: 7.0print this course

Trade support, sales assistants, and portfolio management assistants.
No advance preparation required.
Students will be able to:
  • Review the various shapes of the yield curve and their implications
  • Understand the concept of ''Risk Free'' curve as a benchmark
  • Delineate the various yield curves, and their construction including: ''On the run'' curve, Spot Curve, Credit Curves
  • Understand the construction of a ''swaps curve'' and its implications as a benchmark
  • Understand the role of the FOMC, Federal Funds, and their impact to the shape of the yield curve
Fixed Income Markets I and II or equivalent knowledge. Financial calculator required.
"Very interesting. The instructor kept the class interested and involved, and he related topics to current markets."
"Very good overview into dense subject matter."
"Very useful for tech background personnel to get an in depth understanding of FI markets."
"The course content is up to date. Very good course!"
"Really great teacher with excellent background and intellectual style linking the yield curve to fundamentals - ytm, spot rates, forward rates, also more about duration"
Yield Curve Analysis
Introduction and Overview
  • Yield Curve Fundamentals
  • Financial and Economic Implications
  • Interpreting the Shape of the Curve, Supply, and the Business Cycle
  • Various Curves Risk Free Curves("Current Coupons, Spot, Strip")

Types of Curves

  • Corporate
  • Mortgage
  • Credit

Bond Pricing, Yields and Rates of Return

  • Understanding Yields ( YTM, Current, YTC)
  • Fixed Income Pricing Conventions ( Internal Rate of Return)
  • Demystifying Duration

Analysis of Risk and Return

  • Looking at Non-Parallel Shifts in the Curve
  • Trading Applications: Trading the Curve
  • Portfolio Applications

Clients who register for this course will receive a complimentary 6 month subscription to the Financial Times and FT.com. The Financial Times is the world's most respected financial newspaper providing a broad assessment on finance, business and the industrial sector. Subscriptions will start within 6-8 weeks of the application process, and are limited to one per client. For questions about your subscriptions call 800-628-8088 or email uscirculation@ft.com. US and Canada enrollees only.

Lunch included for all students taking day classes.