Short-term Markets

Fitch Learning

Training

In London and New York (USA)

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£ 595 + VAT

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Description

  • Type

    Training

  • Level

    Intermediate

This course deals with interest rates & the money markets and examines rising funding stress indicators, e.g. basis wideners Libor/OIS, FRA/OIS and EUR/USD cross-currency basis that have materially widened over the past few weeks/months. We explain from the ground up where interest rates come from and how these measures of funding costs are useful indicators of stress/confidence in the financial system.

Facilities

Location

Start date

London
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Start date

On request
New York (USA)
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Start date

On request

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Subjects

  • Money Markets
  • Interest Rates

Teachers and trainers (1)

TBC TBC

TBC TBC

TBC

Course programme

Where do Rates Come From?
  • Inflation expectations and implicit forward rates
  • Forward rates and interest rates (an introduction to zero coupon rates)
  • Forward curves and zero coupon curves
Money Markets
  • Corporate money market facilities vs. the inter-bank market
  • Money market cash rates - the nominal vs. effective convention
  • Libor and Euribor, Sonia and Eonia
  • Money market day count conventions
  • STIRs – short-term interest rate futures – introducing the Eurodollar futures market
  • FRA – Forward Rate Agreement
  • Money markets as the transmission medium for monetary policy
Money Markets Securities
  • Treasury bills (a first look at risk-free)
  • Commercial Paper – CP credit ratings
  • Sale and repurchase agreements (Repos)
  • Using repos to finance long bond positions
  • Using repos to engineer short bond positions
  • Repo features and types
Prices & Yields
  • The price-yield connection
  • An intuitive look at the link between yield, coupon and price
  • The required return and valuation using zero-coupon rates
  • Yield types
  • Yield To Maturity (YTM)
  • Current / income / interest yield

Additional information

At Fitch Learning we consistently receive excellent customer feedback - 94% of our participants recommend a colleague attend the same course. With 25 years’ experience, our interactive training methods are tried and tested. Our workshops are small – with no more than 16 people – to ensure your learning experience is as interactive and personal as possible. They are taught through up-to-date , region-specific case studies and exercises so you can apply the analytic skills you learn as soon as you are back at your desk. If you register a place 8 weeks or more in advance of the course, you can save 10%.

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Short-term Markets

£ 595 + VAT

The best Financial Markets courses

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See all