Fixed Income Securities

Course Code
FIN 409
1.5 hours
  • Winter 21 (B)
  • Winter 22 (B)
[(BBA Junior or Senior) or (Ross Minor) or (MM)] and (FIN 300 or 302 or 557) and (No credit in FIN 310)
Fixed Income Securities and Markets --- This course provides a comprehensive overview of the essentials of fixed income securities. In particular, the course introduces the principal classes of fixed income securities; money market instruments, Treasury securities, agency securities, corporate debentures, and mortgage-related instruments. In particular, we focus on the institutions, pricing, risks, and hedging of these securities. The course begins with Treasuries, securities affected primarily by interest rate risk. We discuss the mechanisms by which Treasuries are sold, how they are priced, quantifying their interest rate risk, and pricing of securities to manage risk. We examine the pricing of corporate bonds and derivatives that enable investors to hedge credit risk. Finally, the course addresses securitizations in the form of mortgage-backed securities and collateralized mortgage obligations.

Prior to Winter 2015, this course was offered as FIN 309.

Taught By
Qin Lei
  • Adjunct Assistant Professor