Course Objective

The Asian Fixed Income Market has seen its fastest growth following the Asian Financial Crisis. The increased volatility of interest rates and the increased credit risks associated with fixed income products and derivatives have sparked tremendous development of new pricing tools and trading strategies as well as risk models to deal with requirements of Basle . Asian sovereigns have also seriously understood the urgency to develop viable domestic fixed income markets as an alternative to funding sources and greater flexibilities and possibilities for asset-liability management and other forms of interest and currency hedging. At the same time, new market initiatives such as asset securitizations from fixed income products to real estate investment trusts have necessitated a deeper understanding of term structure and credit relations. The traditional concepts of fixed income mathematics using duration and term structure based on expectations model have been readily strengthened with modern treatments of no-arbitrage theories ala Vasicek, HJM, and BGM, and the field is still expanding.

SMU & SIBA are organising a 12-week course on Fixed Income Market to equip corporate treasurers, fund managers, investors and risk managers with the latest pricing tools and applications of bonds and other fixed income products. The course covers Credit Derivatives and Securitisation in addition to the traditional Fixed Income Market Instruments