Advanced
How to compare bonds on a consistent basis
Two yields are comparable only after their conventions and risks are aligned. Build a clean comparison before deciding that one bond offers more value.
Read articleFOLITIC / BONDS EXPLAINED
Bonds Explained
Understand bond cash flows, compare yields and assess the risks behind a repayment promise. Follow six learning stages from the first bond contract to a complete investment research case.
Start with What a bond is and how you get paid, then follow the next lesson links. Explore 24 lessons with worked examples, exercises and further reading.
Explore the learning path
Browse by topic
Advanced Bond Analysis · All lessons
Advanced Bond Analysis
Compare securities, test difficult scenarios and complete a bond research case.
Advanced
Stress testing a bond portfolio
A portfolio should be tested against more than one rate forecast. Separate benchmark rates, credit spreads, currency and liquidity before combining adverse scenarios.
Read article
Advanced
Matching liabilities and hedging duration
A portfolio can look stable while failing to meet a future bill. Match the timing and currency of liabilities, then understand what duration hedging can and...
Read article
Advanced
A complete bond investment case
Bring the learning path together in a complete research case. Describe the security, calculate the economics, challenge repayment assumptions and write a conditional conclusion.
Read article