Fixed Income Markets Certification (FIMC©)
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About this Fixed Income Markets Certification Program
While other Fixed Income courses add formulas and complexity to hide the lack of real-world experience, Wall Street Prep's Fixed Income Markets Certification was created by former sales and trading professionals focused on what interns, new hires and early career analysts need to know on the job.
Designed following extensive discussion with hiring managers at major investment banks, we built our Fixed Income program around practical requirements like Bloomberg, with Excel exercises to demystify how Bloomberg calculates Yield and Duration on a bond.
9+ Hours of Video Instruction
Acquire expertise taught from an insider's perspective. Master how to use the Bloomberg terminal to analyze bonds, yields and cashflows.
A Comprehensive Program
Designed with input from the largest global investment banks on what Fixed Income salespeople and traders need to know.
Meaningful, Shareable Certification
Graduates will receive a blockchain-verified, shareable certification that can easily be added to LinkedIn and resumes.
What You Will Learn
Your Path to Certification
This fixed income markets certification course is career-focused. We begin with an overview of the Fixed Income Market, sell-side investment banks and buy-side investors; move on to exploring how central banks impact bond yields; and discuss the yield curve. We demystify different fixed income products and build a basis for bond math. Using money markets, we learn about single cashflow investments and government bonds. Finally, we look at corporate bonds, discuss credit analysis, and take a look at the impact of seniority and collateral.
Recommended Path
1. Introduction to Financial Markets
Week 1
2. Introduction to Bonds and Fixed Income Trading
Week 1
3. Economics and the Role of a Central Bank
Week 1
4. Money Markets
Week 2
5. Government Bonds
Week 3
6. Corporate Bonds
Week 3
7. Mortgage Backed Securities
Week 4
8. ESG Investing
Week 4
Complete in 25 Hours
The FIMC is a job-focused program that drills down on what Fixed Income Markets professionals need to know while cutting out the rest. Average completion time (coursework + exam) is 25 hours.
Skills Fixed Income Markets Employers Look For
-
Fixed Income
-
Bloomberg
-
Hedging
-
Trading
-
Derivatives
-
Sustainable Finance
Top Jobs the FIMC Will Prepare You For
-
Position
1st Year Salary + Bonus *
-
Credit Trader
$135-160,000
-
Rates Trader
$135-160,000
-
Fixed Income Salesperson
$135-160,000
-
Fixed Income Structurer
$135-160,000
-
Fixed Income Quant
$175-200,000
-
Fixed Income Portfolio Manager
$105-130,000
-
ESG Analyst
$105-130,000
-
Debt Capital Markets Analyst
$135-160,000
-
Corporate Treasury
$100-125,000
* glassdoor.com estimates.
$145K
The average starting salary + bonus for Fixed Income Markets Sales & Trading Analysts. See our
Sales & Training Salary Guide
for more details of the career and pay progression. Data on average starting salaries is based on glassdoor.com U.S. estimates.
The FIMC© is the same program used to train new hires at Wall Street's largest investment banks
WSP trains investment professionals and traders at the world's largest sell-side investment banks and buy-side asset managers.
"Our employees are telling us this is the best virtual learning experience they have ever had."
— Associate Director, Learning & Development Global Investment Bank
What's Included
FIMC©Intro to Financial Markets
Course 1 of the Fixed Income Markets Certification (FIMC©) program. This course sets the foundations ...
1
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Course TOC
Intro to Financial Markets
Course 1 of the Fixed Income Markets Certification (FIMC©) program. This course sets the foundations of the Fixed Income Markets, providing an overview of how Investors provide capital to Issuers through the Buy Side Investors and the Sell Side Investment Banks. We discuss the main Fixed Income Inve ...
Course 1 of the Fixed Income Markets Certification (FIMC©) program. This course sets the foundations of the Fixed Income Markets, providing an overview of how Investors provide capital to Issuers through the Buy Side Investors and the Sell Side Investment Banks. We discuss the main Fixed Income Investors and how they are different have different objectives and risk tolerances. We introduce different Fixed Income Investments that match with these different Investor objectives.
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Intro to Financial Markets
1. Course Downloads
Files
2. Participants in the Financial Markets
3:37
3. Role of the Buy Side and Sell Side
5:52
4. Buy Side Investor Overivew
4:40
5. Fixed Income Asset Managers
5:29
6. Bloomberg Barclays Aggregate Index "Agg"
5:08
7. Insurance Companies as Bond Investors
5:17
8. Foreign Investors and Corporate Cash Treasuries
7:05
9. Credit Ratings
4:16
10. Fixed Income Cashflows
6:01
11. Bonds versus Loans
5:39
12. Fixed Income Investments versus Risk Factors
3:50
13. Matching Investors to Investments
5:16
14. Intro to Financial Markets Review
Quiz
Intro to Fixed Income Trading & Bonds
Course 2 of the Fixed Income Markets Certification (FIMC©) program. We begin with an overview of how ...
2
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Course TOC
Intro to Fixed Income Trading & Bonds
Course 2 of the Fixed Income Markets Certification (FIMC©) program. We begin with an overview of how Bonds are Traded: Over the Counter and at an Investment Bank. We discuss the different desks are broker out by asset class and how bonds are quoted. We then proceed with an overview of Bonds, demysti ...
Course 2 of the Fixed Income Markets Certification (FIMC©) program. We begin with an overview of how Bonds are Traded: Over the Counter and at an Investment Bank. We discuss the different desks are broker out by asset class and how bonds are quoted. We then proceed with an overview of Bonds, demystifying a Bloomberg DES screen and walking through the key features of a bonds. We discuss the concept of Coupons versus Yields. We conclude by analyzing how Investors and Traders measure returns, through the carry and slide of an investment.
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Fixed Income Trading
1. Course Downloads
Files
2. Where does Sales & Trading fit within an Investment Bank
4:01
3. Cash versus Derivatives
4:28
4. Overview of Rates & Credit Asset Classes
5:59
5. Overview of MBS, ABS and Securitization
4:32
6. Wall Street Trading Desk Overview
5:13
7. Over-The-Counter OTC Trading
4:53
8. Bid-Offer Directionality
5:12
9. Using Derivatives as a Hedge - Part 1: Interest Rates
3:53
10. Using Derivatives as a Hedge - Part 2: Credit and FX
5:30
11. Fixed Income Trading Review
Quiz
Introduction to Bonds
12. Bearer Securities
7:06
13. Bond Coupons
5:50
14. Bloomberg DES Screen
3:04
15. Coupons versus Yields
7:55
16. Exercise Review: Coupons versus Yields
9:47
17. Bond Returns, Carry and Roll-Down (Slide)
7:21
18. Example: Carry, Slide & Expected Return
8:31
19. Introduction to Swaps, Spread to Swaps
8:09
20. Introduction to Bonds Review
Quiz
Economics & Role of Central Bank
Course 3 of the Fixed Income Markets Certification (FIMC©) program. Changes in Supply and Demand dri ...
3
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Course TOC
Economics & Role of Central Bank
Course 3 of the Fixed Income Markets Certification (FIMC©) program. Changes in Supply and Demand drive changes in Prices and Yields. We begin by taking a look at a Treasuries are auction and how shifting demand moves prices. Afterwards, we expand to a macro view and look at the tools of the Fed the ...
Course 3 of the Fixed Income Markets Certification (FIMC©) program. Changes in Supply and Demand drive changes in Prices and Yields. We begin by taking a look at a Treasuries are auction and how shifting demand moves prices. Afterwards, we expand to a macro view and look at the tools of the Fed the can shift the overall market. We begin by analyzing the indications and data that drive Fed actions. Starting in the front end, we analyze the Fed Funds Market and Repo Market which are closely tied to the Fed’s policy rate. Next, we look at quantitative easing and how the Fed impacts longer term bonds. Combining movements in short-term and long-term rates, we discuss and analyze yield curves. We conclude with a discussion of Bank Regulation and RWA, and how Central Banks regulate commercial banks as a final tool for controlling economic growth.
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Economics & Role of Central Bank
1. Course Downloads
Files
2. Supply and Demand Dynamics
4:48
3. Treasury Auctions
3:59
4. WI Market, Book building
4:53
5. Switch Trades
5:25
6. Macroeconomics, Central Bank Goals
2:52
7. Economic Indicators
7:20
8. Inflation
11:12
9. Fed Funds
6:42
10. Repurchase Agreements (Repo)
8:08
11. Repo and Fed Fund Rates are Linked
6:53
12. Forward Rate Expectations
7:02
13. Introduction to Yield Curves
3:17
14. Yield Curves: Upward Sloping
3:35
15. Yield Curves: Steepners and Flatteners
6:58
16. Yield Curves Exercise
8:58
17. Federal Reserve & Long Term Rates, Quantatitve Easing
6:34
18. Fed Actions and Impact on Commercial Banks
8:16
19. Risk Weighted Assets (RWA)
11:14
20. Economics & Role of Central Bank Review
Quiz
Money Markets
Course 4 of the Fixed Income Markets Certification (FIMC©) program. Money Markets form a basis for t ...
4
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Course TOC
Money Markets
Course 4 of the Fixed Income Markets Certification (FIMC©) program. Money Markets form a basis for the bond markets and the derivatives markets. We begin with an overview of money market investments and investors. We use Money Markets to calculate the returns of actual fixed income investments in bo ...
Course 4 of the Fixed Income Markets Certification (FIMC©) program. Money Markets form a basis for the bond markets and the derivatives markets. We begin with an overview of money market investments and investors. We use Money Markets to calculate the returns of actual fixed income investments in both Excel and Bloomberg. We conclude by discussion LIBOR, the Eurodollar market, and the transition to SOFR.
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Money Markets
1. Course Downloads
Files
2. Overview of the Money Markets
8:51
3. Money Market Bond Math: Discounts
6:50
4. Exercise: Calculating Discounts
5:22
5. Money Market Bond Math: Yields
4:54
6. Money Market Yield
3:56
7. Comparing Money Market and Bond Conventions
6:45
8. Exercise: Comparing Money Market Investments
7:15
9. LIBOR and Eurodollar Market
6:25
10. Transition from LIBOR to SOFR
6:31
11. Money Markets Review
Quiz
Government Bonds
Course 5 of the Fixed Income Markets Certification (FIMC©) program. Building on the concepts in the ...
5
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Course TOC
Government Bonds
Course 5 of the Fixed Income Markets Certification (FIMC©) program. Building on the concepts in the Money Markets course, we analyze Bond Math and Bond Returns using Government Bonds. We start off by building the cashflows of two Government Bonds and valuing those bonds by discounting the cashflows ...
Course 5 of the Fixed Income Markets Certification (FIMC©) program. Building on the concepts in the Money Markets course, we analyze Bond Math and Bond Returns using Government Bonds. We start off by building the cashflows of two Government Bonds and valuing those bonds by discounting the cashflows using strips. We then converted our discount value to a price by adjusting for accrued interest and demystifying treasury pricing convention. Afterwards, we calculate both the yield and duration on are case study bonds, both in Excel and in Bloomberg.
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Government Bonds
1. Course Downloads
Files
2. Introducing US Treasuries
10:36
3. US Treasury Cashflows
6:33
4. Tresury Strips and Present Value Calculations
6:06
5. Accrued Interest
4:22
6. US Treasury Pricing Convention
4:43
7. Exercise: Calculating Accrued Interest & Clean Prices
9:46
8. Yield, Yield to Maturity
6:13
9. Exercise: Calculating Yield
7:54
10. Duration
8:09
11. Government Bonds Review
Quiz
Corporate Bonds
Course 6 of the Fixed Income Markets Certification (FIMC©) program. In this course, we examine Corpo ...
6
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Course TOC
Corporate Bonds
Course 6 of the Fixed Income Markets Certification (FIMC©) program. In this course, we examine Corporate Bonds and how they are priced, valued and traded. We begin by discussing credit spreads and discussing the key credit spread (T, G, I and Z). We then discuss trading conventions and mechanics, fr ...
Course 6 of the Fixed Income Markets Certification (FIMC©) program. In this course, we examine Corporate Bonds and how they are priced, valued and traded. We begin by discussing credit spreads and discussing the key credit spread (T, G, I and Z). We then discuss trading conventions and mechanics, from cashflow, price calculations, trade execution process and calculating DV01s. Next, we work through the New Issue Process, how a new bond is valued, and the initial coupons and yields are agreed to between the investors and the issuers. We conclude with a section on credit analysis and an example of a High Yield Bond.
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Corporate Bonds
1. Course Downloads
Files
2. Corporate Bond Overview
6:44
3. Overview of Credit Spreads
7:16
4. Credit Spreads: T&G Spreads (to Governments)
3:15
5. Credit Spreads: I & Z Spreads (to Swaps)
4:23
6. Corporate Bond Yield to Price Exercise
7:55
7. Corporate Bonds on Bloomberg, Trader Runs
6:30
8. Trade Execution Process
6:06
9. Markup & DV01
6:12
10. New Issue Process
6:37
11. Overview of Valuing Corporate Bonds
7:22
12. Valuation: Secondary Curves, Part 1
4:10
13. Valuation: Secondary Curves, Part 2, Debt Distribution
4:39
14. Relative Value
4:43
15. New Issue Premium
7:39
16. Syndicate Pricing Sheet
6:29
17. Credit Analysis and Ratings Drift
8:20
18. Seniority and Recovery Rates
4:56
19. Creditor Waterfalls
3:53
20. Solutions to: Recovery Values Exercise
11:59
21. High Yield Bonds
7:19
22. Exercise Solution: Yield to Call
9:12
23. Corporate Bonds Review
Quiz
Mortgage Backed Securities
Course 7 of the Fixed Income Markets Certification (FIMC©) program. Agency Mortgage Backed Securitie ...
7
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Course TOC
Mortgage Backed Securities
Course 7 of the Fixed Income Markets Certification (FIMC©) program. Agency Mortgage Backed Securities are the second largest asset class in Fixed Income. In this course, we provide an overview of how the Mortgage Market and how Mortgages are securitized. Prepayments in mortgages add complexity to ho ...
Course 7 of the Fixed Income Markets Certification (FIMC©) program. Agency Mortgage Backed Securities are the second largest asset class in Fixed Income. In this course, we provide an overview of how the Mortgage Market and how Mortgages are securitized. Prepayments in mortgages add complexity to how we value mortgages. We cover the CPR and PSA prepayment models and their impacts on Weighted Average Life, Yields and Duration. We discuss how changing interest rates impact duration, and discuss the impacts of convexity. We analyze all of this on Bloomberg, including the collateral details, Yield Table and Option Adjusted Spread. Next, we discussing the TBA market and trading strategies including the Dollar Roll. We conclude by discussing re-securitizations including REMICS and CMOs as a way to divide and reallocate risk within a Mortgage Backed Security.
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Mortgage Backed Securities
1. Course Downloads
Files
2. Introduction
0:29
3. Overivew of the Mortgage Backed Securities Market
8:03
4. Introducing MBS Pass-Thrus
7:15
5. Mortgage Cashflows
4:43
6. Exercise: Calculating Mortgage Principal and Interest Payments
3:49
7. Exercise Solution: Calculating Mortgage Principal and Interest Payments
4:05
8. Variations of Mortgages: Fixed vs. Adjustible Rate
3:56
9. Prepayments and Refinances of Mortages
5:52
10. Exercise: Mortgages Prepayments
5:43
11. Exercise Solution: Mortgages Prepayments
2:41
12. CPR Prepayment Model
5:08
13. PSA Prepayment Model
4:03
14. Exercise Solution: PSA Prepayment Model
2:46
15. Modified Duration Review
3:16
16. Convexity
5:19
17. Impact of Rate Changes on Prices
5:29
18. Impact of Rate Changes on Duration
6:23
19. Collateral Details of a Mortgage Pool
3:51
20. Analyzing Collateral Metrics on Bloomberg
5:14
21. MBS Yield Table - Interest Rates vs. Prepayments
6:02
22. MBS Yield Sensitivities to Average Life
4:21
23. Option Adjusted Spread (OAS)
5:34
24. Option Adjusted Spread on Bloomberg
2:27
25. Creation of MBS, TBA Market
6:50
26. Analyzing TBAs on Bloomberg
4:32
27. Mortgage Rate Locks and the Dollar Roll
4:51
28. Exercise: Dollar Roll
8:13
29. Exercise Solution: Dollar Roll
6:13
30. REMICS and CMOs
7:27
31. Mortgage Backed Securities Review
Quiz
ESG Investing, Green Bonds and Social Bonds
The last decade has seen exponential growth in ESG investing worldwide. Designed for those seeking t ...
8
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Course TOC
ESG Investing, Green Bonds and Social Bonds
The last decade has seen exponential growth in ESG investing worldwide. Designed for those seeking to learn about the role of Sustainable Finance at an Investment Bank, this course explores exactly how this transformation happened and how the market formalized the structure and conventions for Green ...
The last decade has seen exponential growth in ESG investing worldwide. Designed for those seeking to learn about the role of Sustainable Finance at an Investment Bank, this course explores exactly how this transformation happened and how the market formalized the structure and conventions for Green Bonds and Social Bonds. It discusses both from the issuer and investor perspective, why ESG, Green and Social Bonds have taken such a prominent role. It analyzes the structure and pricing of green and social bonds that the instructor has personally brought to market.
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ESG Investing
1. ESG Course Introduction
2:24
2. ESG Course Downloads
Files
3. ESG Mutual Funds
5:23
4. Investor Rationale for ESG
5:58
5. ESG Scoring
4:17
6. ESG Reporting
6:31
7. ESG Portfolio Construction
6:00
Green Bonds and Social Bonds
8. Green Bond Overview
5:05
ESG Investing
9. Degree Pathways and the Paris Accord
5:46
Green Bonds and Social Bonds
10. Impact Investing and 1st Green Bonds
5:00
11. Initial Challenges to the Green Bond Mk
3:12
12. First Syndicated Green Bond
6:43
13. Use of Proceeds
7:12
14. Types of Green Bonds
3:24
15. Eligible Assets
4:47
16. Green Bond Certification
4:13
17. Finding Green Bonds on Bloomberg
3:24
18. Finding Green Bond Documentation
5:13
19. Green Bond Pricing
3:50
20. Bloomberg: Green Bond Pricing Process
3:09
21. Green Bond Reference Pricing
3:31
22. Bloomberg TDH Trade Data History
6:13
23. Peer Issuer for Curve Extension
6:00
24. Fair Value of Green Bond
4:50
25. International Green Bond Markets
2:42
26. Social Bonds
8:30
Elective Crash Course in Bonds and Debt
This course will teach you all about bonds. First, we'll take a look at the role of b ...
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Course TOC
Crash Course in Bonds and Debt
This course will teach you all about bonds. First, we'll take a look at the role of bonds in financing governments, corporations, households and financial institutions around the world. Next, we'll dive into bond math. You'll learn the various calculations and concepts required to accurately analyze ...
This course will teach you all about bonds. First, we'll take a look at the role of bonds in financing governments, corporations, households and financial institutions around the world. Next, we'll dive into bond math. You'll learn the various calculations and concepts required to accurately analyze the large variety of fixed income products. We'll start slow, but will quickly build up to some of the most traditionally confusing bond concepts: convexity, duration, spot rates, forward rates and the drivers of changes to the all-important yield curve. We conclude with a discussion of credit analysis and an overview of debt capital markets. Enjoy the course!
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Chapter 1: Fixed income market overview
1. What is fixed income?
2:30
2. Course Downloads
Files
3. Size of the bond market
2:41
4. Bond market geographic breakdown
3:21
Chapter 2: Bond basics
5. Basic bond terms
4:28
6. Basic bond math
5:52
7. Using Excel’s RATE() function
5:00
8. Reinvestment assumption of YTM
3:26
9. YTM vs. current vs. nominal yield
2:16
10. Annuities
4:28
11. Bond price as present value of a bond’s cash flows
1:32
12. Simple bond price exercise
2:47
13. More bond terms
4:58
14. Bond issuance costs
2:53
15. The price/yield relationship
3:52
16. Primary vs. secondary bond market
4:28
17. The bid/ask spread
2:44
18. Bond basics review
Quiz
Chapter 3: Yield calculations and conventions
19. Coupon frequency and bond equivalent yield (BEY)
3:14
20. BEY vs Effective annual yield (EAY)
6:45
21. Converting from BEY to EAY
4:14
22. Compounding conventions of 0-coupon bonds
7:41
23. Yield calculations and conventions review
Quiz
Chapter 4: The money market math
24. Money market yield
8:04
25. Money market math exercises
5:08
26. Compounding
9:53
27. Discount basis
12:46
28. Converting interest rates
5:49
29. Money market instruments
3:26
30. The money market math review
Quiz
Chapter 5: Real world bond pricing nuances
31. Settlement date
0:37
32. Bond pricing between coupons
1:29
33. Fractional periods
7:01
34. Day count convention
1:51
35. Dirty price
2:19
36. Dirty price exercise
6:15
37. Clean vs dirty price
4:08
38. Useful Excel functions
2:55
39. Bond pricing exercise, part 1
6:34
40. Bond pricing exercise, part 2
8:25
41. Bond pricing exercise, part 3
4:51
42. Interpreting the Bloomberg bond screen
6:43
43. Bond pricing nuances review
Quiz
Chapter 6: Realized compound yield and holding period yield
44. Realized compound yield and holding period yield
2:55
45. RCY / HPY exercise, part 1
6:07
46. RCY / HPY exercise, part 2
2:34
47. RCY / HPY exercise, part 3
19:48
48. Realized compound yield and holding period yield review
Quiz
Chapter 7: Interest rate risk
49. Intro to interest rate risk
4:27
50. DV01
5:36
51. Hedging interest rate risk
6:15
52. Estimating the price impact of rate changes
2:50
53. Modified duration & dollar duration
4:39
54. Modified duration exercise
5:59
55. Useful Excel functions for interest rate risk
1:48
56. Modified duration exercise, part 2
6:31
57. Modified duration exercise, part 3
3:54
58. Convexity
6:16
59. Convexity exercise
13:35
60. How convexity is applied in practice
2:29
61. Duration/convexity between coupons
3:01
62. Duration/convexity between coupons exercise
8:33
63. Interpreting the Bloomberg YAS screen
10:16
64. Interest rate risk review
Quiz
Chapter 8: Callable bonds
65. Make whole call
10:04
66. Make whole call, Apple example
3:17
67. Callable bonds
10:01
68. Sinking fund redemption
2:59
69. Yield to call and yield to worst
5:54
70. Callable bonds review
Quiz
Chapter 9: The Yield Curve
71. Yield curve intro
4:57
72. Term structure theory
11:31
73. Monetary policy intro
6:03
74. Federal funds and the discount rate
3:13
75. Open market operations
3:03
76. Other central bank tools
6:07
77. Summary of forces affecting the yield curve
8:09
78. Yield curve shape at various points in the business cycle
10:02
79. Yield Curve review
Quiz
Chapter 10: Spot rates
80. Spot rates intro
6:48
81. Spot rates role in bond valuation
9:56
82. Full vs YTM bond valuation approaches
6:56
83. Bootstrapping the spot curve, part 1
11:18
84. Bootstrapping the spot curve, part 2
13:47
85. Spot rates review
Quiz
Chapter 11: Z-spread and OAS
86. Yield spreads and the z-spread
16:30
87. Option adjusted spread
4:10
88. Z-spread and OAS review
Quiz
Chapter 12: Forward rates
89. Forward rates
8:41
90. Forward rate exercise, part 1
7:10
91. Forward rate exercise, part 2
9:18
92. Trading strategy using forward rates
10:57
93. Forward rates review
Quiz
Chapter 13: Credit analysis
94. Credit risk
8:01
95. Credit analysis
17:03
96. Navigating Clear Channel’s bond agreement
8:54
97. Credit analysis review
Quiz
Elective Debt Capital Markets Primer
Corporate finance bankers interact regularly with their product partners in debt capi ...
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Course TOC
Debt Capital Markets Primer
Corporate finance bankers interact regularly with their product partners in debt capital markets, yet many have a limited understanding of the key drivers behind DCM business. This webinar begins by introducing you to the key DCM business lines, including Loan Syndication, Debt Origination, Liabilit ...
Corporate finance bankers interact regularly with their product partners in debt capital markets, yet many have a limited understanding of the key drivers behind DCM business. This webinar begins by introducing you to the key DCM business lines, including Loan Syndication, Debt Origination, Liability Management and Risk Management. Next, it examines the ways DCM bankers interact with corporate clients and concludes by explaining how the bank makes money (with just the right amount of bond math).
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Debt Capital Markets Primer
1. Debt Capital Markets Introduction
2:41
2. Course Downloads
Files
3. DCM Product Overview
3:50
4. Impact of Basel III Regulatory Environment
3:54
5. Loan Syndication
4:58
6. Loan Syndication Example
3:12
7. The Loan Screening Memo
4:12
8. Debt Origination
7:06
9. New Issue Flow of Funds
3:11
10. Bond Issue Example
4:19
11. Verizon Case Study
5:45
12. Liability Management
6:55
13. Case Study: High-Coupon Debt Exchange
4:23
14. Risk Management Corporate Hedging
1:32
15. Foreign Exchange
1:21
16. Interest Rates
1:02
17. Commodities
0:43
18. Case Study: Interest Rate Swap
5:41
19. Case Study: Time Warner Cross-Currency
3:52
20. Debt Capital Markets Primer Review
Quiz
Elective Debt Capital Markets: How to Survive Day 1
Designed for incoming and prospective DCM/Capital Markets analysts and interns with n ...
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Course TOC
Debt Capital Markets: How to Survive Day 1
Designed for incoming and prospective DCM/Capital Markets analysts and interns with no prior DCM experience, this course will provide an insider's prospective of what you''ll be doing on the job. We'll focus on industry knowledge not taught in school and demystify industry jargon. We start with the ...
Designed for incoming and prospective DCM/Capital Markets analysts and interns with no prior DCM experience, this course will provide an insider's prospective of what you''ll be doing on the job. We'll focus on industry knowledge not taught in school and demystify industry jargon. We start with the basics: what DCM actually does, what a DCM desk looks like and how to use the turret; We'll show you how to make a great first impression from Day 1 and walk you through the DCM pitchbook and the DCM transaction roles and responsibilities you need to know.
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Know what to expect on Day 1
1. Decoding DCM jargon
3:10
2. Course Downloads
Files
3. Capital Markets: Who's who
3:40
4. Where DCM fits within an investment bank
7:38
5. What a DCM desk looks like
8:00
6. How to use the turret
10:51
7. DCM Phone list: Who's who on the team
4:10
Start with a positive impression
8. When does your day start?
2:50
9. Morning preparation
2:45
10. The morning meeting
4:53
What's in a DCM pitchbook?
11. What’s in a DCM pitchbook
2:17
12. Market update
2:21
13. Pricing sheet
4:39
14. Case studies
1:27
15. League tables and tombstones
1:52
Transaction roles and responsibilities
16. Key transaction roles
1:22
17. The documentation team
1:57
18. Logistics and roadshow
1:13
19. Screens and announcements
1:05
20. Billing and delivering
0:35
21. Pot orders and syndicate process
1:18
Appendix I: Q&A
22. DCM Day 1 Review
Quiz
23. Am I too old to join DCM?
0:53
24. What's the biggest mistake you made on Day 1?
1:09
25. Can you explain the syndicate process?
1:50
26. DCM exit opportunities
1:25
27. How modeling heavy is the DCM role?
1:17
28. What are the skills employers look for?
2:08
29. What Bloomberg skills do i need?
1:00
30. When can I leave for the day?
0:45
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