Debt Securities Markets Elective Course at Business School IUJ
Debt Securities Markets
This course is primarily designed to provide, mostly through cases, in-depth analyses of concepts and techniques used in designing, pricing, marketing and trading fixed income securities. We deal with standard bond valuation, risk analysis, bond trading (arbitrage) strategy, securitization and other important innovations, and risk management for financial institutions and/or corporate issuers. Institutional aspects (market microstructure, market imperfection and trading mechanisms) of fixed income securities will be also discussed but limited in scope. Our analysis will first focus on plain vanilla default-free long-term government bonds and related products, and then gradually move towards more sophisticated or innovative fixed income securities. The important intellectual challenges in fixed income product innovations are mostly introduced through case analyses in a realistic investment banking process. The case analyses enable students to more realistically understand conceptual breakthroughs as well as institutional barriers faced by both investors and issuers.