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FIXED INCOME I : MARKETS AND INSTRUMENTS
2018-2019	FrIESEG School of Management ( IÉSEG )
Code Cours :	1819-IÉSEG-M1S2-FIN-MA-EI69UE	FINANCE

Niveau	Année de formation	Période	Langue d'enseignement
Master	1	S2	FrEnglish

Professeur(s) responsable(s)	L.MENG
Intervenant(s)	Lei MENG, Charlotte ZWEIBAUM !!! Two course codes : Lille (FINMA-PI69UE) - Paris (FINMA-PE69UE) !!!

IÉSEG > IESEG Degree - Programme Grande École > Semester 2 > 2,00 ECTS

Pré requis

Basic knowledge of financial management and financial markets

Objectifs du cours

At the end of the course, the student should be able to:
- Be familiarised with bond markets and instruments
- Understand the underlying principles of bond valuation
- Be aware of the role of credit ratings in bond market
- Be aware of the risks associated with bond investment and the applications of derivative instruments for risk mitigation

Contenu du cours

Part 1: Overview
1. Fixed income instruments
2. Bond features
2. Initiation and market mechanism

Part 2: Bond valuation fundamentals
1. Present value and bond yield
2. Duration
3. Yield curve
4. Coupon strapping

Part 3: Credit ratings
1. The use of ratings and the role of rating agencies
2. Credit analysis
3. Rating behaviour

Part 4: Applications of derivatives in bond investment
1. Interest rate derivatives
2. Credit derivatives

Part 5: Current issues in bond market

Modalités d'enseignement

Organisation du cours

Type	Nombre d'heures	Remarques
Face to face
Coaching	1,00
Interactive class	3,00
lecture	12,00
Independent work
E-Learning	3,00
Reference manual 's readings	3,00
Research	3,00
Independent study
Estimated personal workload	12,00
Charge de travail globale de l'étudiant	37,00