The Introduction to Bond Market Qualification (IBMQ) is an introductory level programme intended for anyone seeking a sound foundation in the analysis of fixed income securities. The syllabus offers an overview of fixed income market products and participants and explains the key features of fixed income securities including government bonds, corporate bonds and many more. In addition, it provides candidates with the basic quantitative tools they will need to begin analysing fixed income securities.

Learning Outcomes

By completing the programme you will:

• Acquire a sound understanding of the risk and return characteristics of fixed-income securities, including sovereign bonds, investment-grade and high-yield corporate bonds, inflation-linked bonds, securitisations, and covered bonds
• Learn how to use and interpret market-standard measures of interest rate risk and credit spreads, as well as how to apply these measures to construct and evaluate trades that express views about the level of interest rates, the shape of the yield curve, and relative value in credit risky bonds
• Learn how inflation-linked bonds protect investors from inflation risk and provide opportunities for trading views on expected inflation, and how securitisations and covered bonds expand opportunities for investors while diversifying financing sources for financial institutions
• Learn how bonds are issued and traded, and how regulatory changes and technological development are transforming fixed-income markets