Bonds and Other Fixed Income Securities

Bond Fundamentals

• Nominal and Real Interest Rates; Compounded and Continuously Compounded Interest Rate Formulas
• The Present Value and Future Value of Money - Compare any investments—not just bonds—by calculating the present value and future value of money.
• The Present Value and Future Value of an Annuity - An annuity is a series of equal payments made in equal periods of time. Understanding annuities allows one to understand loans, and investments that make periodic payments, such as bonds.
• Complete Introduction to Bonds
• Bond Indentures
• Bond Yields
• Bond Pricing
• Investment Risks of Fixed Income Securities
• Bond Ratings and Credit Risk
• Volatility Of Bond Prices In The Secondary Market; Duration; Convexity
• The Primary Bond Market
• Term Structure of interest Rates: the Expectation Hypothesis and the Liquidity Premium Theory
• Interest Rate Risk of Bonds; Full-Valuation Approach (aka Scenario Analysis)
• Duration and Convexity, with Illustrations and Formulas

Types of Bonds

• International Bonds
• Convertible Bonds
• Preferred Stock
• Fixed Rate Capital Securities (FRCS)

Money Market Instruments

• Money Market Instruments
• Certificates of Deposit (CDs)
• Commercial Paper
• Repurchase Agreements (Repos)
• Federal Funds
• Bankers Acceptances (BAs)
• Medium-Term Notes

Government Securities

• Municipal Bonds
• United States Savings Bonds
• United States Treasury Securities: Bills, Notes, Bonds, Treasury-Inflation Protected Securities (TIPS), and STRIPS
• United States Treasury Auctions
• The Primary Market and Secondary Markets for United States Treasury Securities.

Corporate Bonds

• Corporate Bonds - An Introduction
• Corporate Bond Types: Mortgage Bonds, Collateral Trust Bonds, Equipment Trust Certificates (ETCs), Debentures, and Guaranteed Bonds
• High-Yield Bonds (aka Junk Bonds)

Asset-Backed Securities

• Asset-Backed Securities (ABS)
• Asset-Backed Securities (ABS): Structure
• Prepayment Models For Asset-Backed Securities
• Asset-Backed Securities (ABS): An Overview of Credit Ratings
• Asset-Backed Securities (ABS): Credit Analysis
• Special Purpose Entity (SPE)
• Credit Enhancements
• Mortgage-Backed Securities (MBS)
• Collateralized Mortgage Obligations (CMOs)
• Collateralized Debt Obligations (CDOs)
• Covered Bonds
• Credit Card Asset-Backed Securities
• Credit Card Asset-Backed Security Structure And Cash Flow Allocations
• Auto Loan and Auto Lease Asset-Backed Securities
• Auto Lease ABS; Titling Trust and Residual Risk

Derivatives

• Derivatives
• Death Bonds
• Interest Rate Swaps and Interest Rate Options
• Credit Default Swaps (CDS)
• Overnight Index Swaps (OIS)
• Derivatives Resources

Topics

• Taxation of Bond Income

Bond Resources

• Bonds - Links, Articles, Studies, and Resources
• Bond Formulas