The Indian fixed income market spans government securities, corporate bonds and money market instruments. It finances the sovereign, corporates and financial institutions, and it sets the benchmark for pricing risk across the economy.
This course builds a conceptual and analytical understanding of fixed income securities. It covers bond pricing and yield measures, interest rate risk (duration and convexity), the term structure of interest rates, credit analysis, the Indian government and corporate debt markets, leveraged finance and financial distress, securitization (MBS, CLOs and CDOs), credit default swaps, and fixed income portfolio management.
You will work in Excel with live Indian market data (RBI, SEBI, CCIL, NSE/BSE debt segments, and Bloomberg). The course prepares you for analyst roles in treasury, credit research, fixed income portfolio management and debt capital markets.
By the end of the course you will be able to:
- Analyze the structure, characteristics and regulatory framework of fixed income instruments and the Indian money and debt markets.
- Appraise bond pricing, yield, interest rate risk and term-structure models using quantitative techniques.
- Evaluate credit risk, structured credit products and distressed debt situations, including their ethical and regulatory dimensions.
- Evaluate and defend active and passive fixed income portfolio strategies using live Indian market data.
- Faculty: Vikas Pandey