This five-module, practitioner-oriented course focuses on understanding how the yield curve affects portfolio strategies and risk management. The course includes interactive exercises to help teach and interpret future and implied spot rates, duration and convexity, and the use of option-adjusted spreads in different types of securities.
Module 1—Interest Rate Measures, Par, Spot, Forwards, and Future Implied Spot Yields
Module 2—Full Valuation Approach: Effective Duration/Convexity and Key Rate Durations
Module 3—Yield Curve Trades: Computing and Decomposing Expected Returns
Module 4—Hedging Interest Rate Risk Using Caps and Floors
Module 5—Option-Adjusted Spreads (OAS) and Other Yield Spreads
This content is provided for continuing professional development purposes and is not intended to be used as preparation for the CFA or CIPM Program examination or as a substitute for study of the CFA or CIPM Program curriculum.