Overview
This comprehensive course will cover a variety of issues relating to yield curves, their construction, and their use in a variety of analytical applications to assess risk and return.
The course consists of 19 lectures among 5 sections, including topics within:
 Introduction to Yield Curves
 Duration and its Applications
 The Level of Rates and Shape of the Yield Curve
 Spot Rates and Forward Rates
 Total Return Analysis
Learning Outcomes
At the end of this course, you will be able to...
 You'll be able to understand how yield curves depict fixed income instrument pricing and risk premiums
 You'll be able to explain duration as a measure of the sensitivity of the price (the value of principal) of a fixedincome investment to a change in interest rates
 You'll be able to describe the different types of duration, and how each is used in managing and/or quantifying risk
 You'll be able to discuss alternative yield curves that are used to price or assess the value of fixed income instruments, including the current coupon yield curve, par coupon yield curve, spot rate curve, treasury strip curve and forward rate curve
 You'll be able to apply total return analysis over a variety of interest rate scenarios to assess risk and return as an alternative to simply using yield to maturity as an estimate of future returns
Target Audience
 Analysts and associates in commercial, corporate and investment banking.
Course curriculum

1
Welcome!
 About this course: Overview, Learning Outcomes, Prerequisites & Target Audience FREE PREVIEW
 Course Trailer FREE PREVIEW
 Instructor Bio: Doug Carroll
 Key pointers for success in this course

2
Slack Channel (All announcements, Q&A with instructors, and more...)
 Slack Channel (Discussion Forum)
 If (and when) you need help...
 Joining the Alumni Community

3
Introduction to Yield Curves
 Introduction to Yield Curves FREE PREVIEW
 Introduction to Yield Curves (Slides)
 Types of Yield Curves and Yield Curve Spreads
 Types of Yield Curves and Yield Curve Spreads (Slides)

4
Duration and its Applications
 Introduction to Duration FREE PREVIEW
 Introduction to Duration (Slides)
 Types of Duration
 Types of Duration (Slides)
 Modified Duration
 Modified Duration (Slides)
 Duration Illustration
 Duration Illustration (Slides)
 Duration of Callable Bonds
 Duration of Callable Bonds (Slides)

5
The Level of Rates and Shape of the Yield Curve
 Yield Curve Shapes and the Level of Interest Rates
 Yield Curve Shapes and the Level of Interest Rates (Slides)
 Yield Curve Theories
 Yield Curve Theories (Slides)
 Yield Curves and the Business Cycle
 Yield Curves and the Business Cycle (Slides)

6
Spot Rates and Forward rates
 Spot Rates and Spot Rate Curves
 Spot Rates and Spot Rate Curves (Slides)
 Calculation of Spot Rates
 Calculation of Spot Rates (Slides)
 Bond Valuation and Rich/Cheap Analysis
 Bond Valuation and Rich/Cheap Analysis (Slides)
 Treasury Strips and the Strip Rate Curve
 Treasury Strips and the Strip Rate Curve (Slides)
 Forward Rates
 Forward Rates (Slides)
 Calculating Forward Rates
 Calculating Forward Rates (Slides)
 Forward Rate Applications
 Forward Rate Applications (Slides)

7
Total Return Analysis
 Total Return Analysis
 Total Return Analysis (Slides)
 Total Return Analysis Illustration
 Total Return Analysis Illustration (Slides)

8
Quizzes
 Quiz 1
 Quiz 2
 Quiz 3
 Quiz 4
 Quiz 5

9
Final Examination
 Final Examination
 Final Exam: Launch Here

10
Next steps
 Congrats! Here's what's next...
 Yippee! You're an alumnus!
 Alumni Slack Channel