The Debt market and importance of the Market:

• Debt Market
• Equity Market versus Debt
• Primary versus secondary market
• Size and complexity of the bond market

The Time value of Money Revisited:

• The Fisher Effect
• Real versus Nominal
• Present Value

Raising capital through equity or debt:

• Corporate Requirements and Timing
• Market Place Condition
• Nature and needs for funds

Issuers of Debt Instruments:

• Governments
• Corporations  

Bonds and Associated Risk:

• Risk In Fixed Income
• Default
• Counterparty Risk
• Interest Rates
• Reinvestment
• Liquidity

Types of Debt instruments and sectors:

• Bonds
• Notes
• Hybrids
• Securitised

Bond Characteristics:

• Fixed, Floating and Zero
• Par Value
• Maturity
• Interest Rate
• Interest Payments

The Rating of Debt Instruments:

• Moody's & Standards and Poor
• External Research Analysis firms
• Investment Grade versus High Yield Bonds

Structure of an Issue:

• Secured Versus Unsecured
• Senior versus subordinated
• Call ability

Bond Pricing:

• Percentage Values
• Quotations conventions

Yields, spreads and Calculations:

• Yield versus return versus interest
• Nominal Yield
• Current Yield
• Price and Yields
• Yield to maturity

Interest Rate Risk, Duration and Immunisation:

• Definition
• Calculation
• Interpretation
• Limitations / advantages
• Convexity
• Immunisation.

Constructing a Fixed Income Portfolio:

• Advantages for Individuals (Bonds versus Bond Funds)
• Advantages for Institutions (Active versus Passive strategies)

Risk Continued:

• Reinvestment Risk
• Inflation Risk
• Call Risk
• Interest Rate Risk
• Sector Risk
• Liquidity Risk
• Event Risk
• Sovereign Risk

Types of Diversification:

• By Sector
• By Quality
• By Maturity or Duration

Some trading strategies:

• Bullet, barbell and ladder strategies
• Butterfly strategy
• Trading on market inefficiencies
• Identifying mis-priced bonds

Risk Management and Derivatives:

• Types of Derivatives
• Derivatives as Natural Hedges
• Hedging versus Speculation
• Some Key Hedging strategies and Examples
• Interest Rate Risk and Swaps
• Default Risk and CDS

Bringing it all Together:

• The Art of the Portfolio Manager
• Importance of Asset Allocation
•  Asset and Liability Management (ALM)

Introduction to International Bonds:

• Foreign Government Markets
• Foreign Domestic
• Euro Bonds
• Benchmarks and Credit spreads
• Credit and Currency arbitrage via Swaps