Our training courses start by covering the fundamentals of bonds including topics such as market and credit risk. One of our more popular ‘intermediate’ teaches participants the different techniques that are used to identify value within a population of sovereign bonds using various measures of spread (e.g. z spreads, option-adjusted spreads, asset swapped spreads).
Fixed income derivatives
In theory, a swap should be an easy product to understand – after all it is only an exchange of cash flows. Understandably though, participants new to subject do find the product somewhat confusing. As a result the approach we take is to present a swap as a substitute for a funded position in a government bond. The basic idea is that an investor can choose either to buy a bond and finance it through the repo markets or receive a swap rate and pay SOFR.
FMT can offer training courses on fixed income options such as caps, floors and swaptions. Inevitably each client’s needs will be different and so if there is something you are looking for please feel free to contact us.