Introduction to Bonds, Prices, Yields & Strategies

This e-training programme comprises 3 topics/tutorials. Answer all quiz questions at the end of each tutorial in order to complete the training.

A) Bond Markets – An Introduction

(Estimated Completion Time: 75 Minutes)

While stock markets are more familiar to the general public, far more capital is raised by issuing debt rather than equity. Bond markets are a critical source of finance for governments, banks, corporations, and other borrowers. In the provision of such finance, these markets offer investors a practically unlimited array of risk and reward profiles.

This tutorial will introduce you to the fundamentals of bonds as a fixed income instrument, covering the key features and terminology associated with these securities in addition to outlining the role of the major players in the market.

B) Bond Prices & Yields

(Estimated Completion Time: 60 Minutes)

Any fundamental understanding of how the capital markets perform their role requires a detailed knowledge of bond structure and pricing. The bond markets are also the engine that powers the interest rate swap market. New issue bonds and secondary market bond repackaging are powerful forces in the swap markets.

The combination of more flexible bond markets and liquid interest rate derivatives markets has transformed the way debt finance is raised for many borrowers. The differences between bond and swap pricing can lead to the creation of hybrid instruments and structured transactions that create financing and investment vehicles for astute market participants. As a result, it is vitally important that you become familiar with the bond pricing and yield to maturity concepts explained in this tutorial.

C) Bond Strategies – Fundamentals

(Estimated Completion Time: 50 Minutes)

Before building a bond portfolio, an investor or portfolio manager must decide on the portfolio objective and strategy. This tutorial outlines the investment management process and the passive or active strategies employed by portfolio managers to achieve their investment objectives.

Terms and Conditions

1) Each e-training programme takes approximately 3 hours to complete.

2) In order to qualify for Continuing Education credits from SGX, please complete all quiz questions found at the end of each tutorial (a 70% pass rate is required) by 31 December 2018.

3) Access to the e-training materials is valid for 3 months from the date the access is issued. Trading Representative who requires Continuing Education Credit and registered at the last quarter of 2018, access is valid till 31 December 2018 (i.e. access given on 24 November 2018, access is valid till 31 December 2018).

4) Upon successful registration, an email with the access details and password would be sent to you within 2 working days.

5) If participants wish to make any changes to their application or request for a refund, written notice should be given within 10 business days of receiving the access ID and password to the online programme and provided the access has not been utilised. There will be an administrative fee of 20% of the fees paid. There will be no changes or refund if notice is given thereafter or if the access has been utilised.

6) Please login using Microsoft Internet Explorer from your PC or Laptop.

7) Please note that the learning management system is not compatible with browsers on Apple iOS or other operating systems.

8) For assistance please contact e-training@sgxacademy.com or call 6327 5438.

SGX reserves the right to make changes to information regarding the programme if warranted by circumstances beyond its control.