Fixed-Income Analysis Course

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Bernd Hanke, CFA | Gregory G. Seals, CFA
5 hr 0 min
Source: CFA Institute

Bernd Hanke, CFA, currently works as a consultant in the investment management field. Until 2009, he was an asset manager at GSA Capital Partners LLP, a London-based hedge fund; while there, he researched quantitative equity and portfolio management in a market-neutral context. Prior to his time at GSA Capital, Dr. Hanke served as a vice president in Quantitative Investment Strategies at Goldman Sachs Asset Management in New York City, where he focused on quantitative equity return and risk modeling that was used to manage long-only mutual funds as well as market-neutral hedge funds. He received his PhD in finance from the London Business School, concentrating on empirical asset pricing and the impact of liquidity on asset prices. Dr. Hanke became a CFA charterholder in 2003.

Note: Biographical information is accurate as of the time of writing.

Gregory G. Seals, CFA, is the director of Fixed Income and Behavioral Finance at CFA Institute in Charlottesville, Virginia, where he develops educational content, programming, conferences, and publications related to fixed income and behavioral finance for charterholders. Prior to joining CFA Institute in May 2008, Mr. Seals spent 14 years at Smith Breeden Associates, most recently in the position of senior portfolio manager and principal of the firm. He managed institutional core fixed-income portfolios and specialized in investment-grade corporate debt. Mr. Seals has also traded and managed portfolios of mortgage-backed securities. Prior to his money management career, Mr. Seals taught introductory finance courses at California State University and St. Joseph’s College in Indiana. Mr. Seals has a BS in finance and an MBA from California State University.

Note: Biographical information is accurate as of the time of writing.

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Summary

This five-module, practitioner-oriented course focuses on understanding how the yield curve affects portfolio strategies and risk management. The course includes interactive exercises to help teach and interpret future and implied spot rates, duration and convexity, and the use of option-adjusted spreads in different types of securities.

Module 1—Interest Rate Measures, Par, Spot, Forwards, and Future Implied Spot Yields

Module 2—Full Valuation Approach: Effective Duration/Convexity and Key Rate Durations

Module 3—Yield Curve Trades: Computing and Decomposing Expected Returns

Module 4—Hedging Interest Rate Risk Using Caps and Floors

Module 5—Option-Adjusted Spreads (OAS) and Other Yield Spreads

A print version of this course is available for purchase

Topics
Fixed Income
    :
  • Analysis of Interest Rate Risk
Price
US$0.00 Member | US$0.00 Candidate | US$100.00 Nonmember
Credits · About the CE Program
5 CE (including 0 SER) Manage CE Credits

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