Overview

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Build practical expertise in this cfa level 1 fixed income course and develop analytical skills to evaluate fixed income securities, pricing, and risk in real-world financial markets. You will learn how fixed income investments generate returns, manage risk, and support portfolio decisions using structured frameworks. The course begins with fixed income instruments and market structure, where you will analyze bond contracts, cash flows, and embedded options. You will understand how bond and fixed income products are structured and traded across markets. Next, you will explore bond pricing and yield measures, applying time value concepts, yield spreads, and valuation techniques. In the term structure module, you will interpret yield curves and interest rate movements. You will then measure risk using duration, convexity, and advanced sensitivity tools to evaluate fixed return investment performance. Finally, you will assess credit risk and structured products, including securitization, asset-backed securities, and mortgage-backed instruments, used in modern fixed income funds. By the end, you will: • Analyze fixed income securities and bond market structures • Apply pricing and yield measures to evaluate investments • Measure interest rate and credit risk using analytical tools • Assess structured products and securitized instruments This course is ideal for finance students, aspiring analysts, investment professionals, and anyone interested in alternative investments. Start building your expertise and make smarter investment decisions in evolving markets. Disclaimer: This course is an independent educational resource developed by Board Infinity and is not affiliated with, endorsed by, sponsored by, or officially associated with CFA Institute or any of its subsidiaries or affiliates. This course is not an official preparation material of CFA Institute. All trademarks, service marks, and company names mentioned are the property of their respective owners and are used for identification purposes only.

Syllabus

Fixed Income Instruments and Market Framework

This module introduces the foundational concepts of fixed income securities and the contractual structure of bonds. Learners explore bond features such as coupon structures, maturity, and issuer types while examining covenant protections and priority of claims. The module also analyzes bond market segmentation, embedded options, and the structure of primary and secondary bond markets.

Bond Pricing and Yield Measures

This module focuses on the pricing of fixed income securities using time value of money principles. Learners examine how bond prices change with yield movements and explore concepts such as accrued interest, clean price, and dirty price. The module also introduces different yield measures and spread metrics used to evaluate bond investments.

Corporate and Government Debt Markets

This module explores the motivations behind borrowing decisions made by corporations, financial institutions, and governments. Learners examine different funding instruments used in short-term and long-term debt markets, including repo agreements and sovereign debt instruments. The module also compares funding strategies used by corporate and government issuers.

Term Structure of Interest Rates & Yield Curves

This module examines the term structure of interest rates and its role in bond valuation. Learners explore spot rates, forward rates, and par yield curves while understanding how these curves influence bond pricing and investment decisions. The module also introduces yield curve interpretation and its implications for market expectations.

Interest Rate Risk, Return and Bond Price Senstivity

This module analyzes how changes in interest rates affect bond prices and returns. Learners explore the sources of bond returns, holding period returns, and the trade-off between price risk and reinvestment risk. The module also introduces duration and convexity measures used to assess bond price sensitivity.

Credit Risk and Anlaysis for Corporate and Government issuers

This module focuses on credit risk assessment and credit analysis frameworks used in fixed income investing. Learners examine credit ratings, yield spread drivers, and factors affecting borrower creditworthiness. The module also explores financial ratios, debt rankings, and credit evaluation techniques for corporate and sovereign issuers.

Securitisation in Detail

This module introduces securitization structures and structured fixed income securities. Learners explore asset-backed securities, mortgage-backed securities, and collateralized debt obligations while understanding the risks and benefits of securitized products. The module also examines prepayment risk, tranche structures, and credit enhancement mechanisms