Bond and Debenture Markets
Introduction
Bond and debenture markets form the backbone of the financial system, yet they are often misunderstood due to excessive theory and formula-driven explanations.
This programme is designed to change that.
The course explains how fixed-income markets actually function in practice — how bonds are priced, why yields move, how interest rate risk impacts portfolios, and how banks and institutions manage Mark-to-Market (MTM) exposure.
With a strong focus on the Indian bond market, this self-learning programme connects core concepts with real-world market behavior, making it relevant for both learners and working professionals.
Course Highlights
- Practical explanation of bond and debenture markets
- Clear linkage between interest rates, prices, yields, and risk
- Indian market focus with global fixed-income concepts
- Short, structured video sessions for easy understanding
- Real numerical examples used in treasury and risk teams
- Designed for self-paced learning with maximum clarity
No unnecessary academic overload — only what is relevant in real markets.
Benefits of the Programme
After completing this programme, participants will be able to:
- Understand how bond markets operate in real-world conditions
- Interpret bond prices, yields, and market movements confidently
- Assess interest rate risk using duration and yield concepts
- Understand MTM impact on portfolios and profitability
- Differentiate clearly between SLR and Non-SLR instruments
- Develop practical fixed-income thinking used in banks and financial institutions
This programme builds functional market understanding, not just theoretical knowledge.
Course Material Includes
- Study material prepared by Market Experts
- 4 professionally structured video sessions
- Approximately 18 minutes per session
- Step-by-step explanations with practical examples
- Numerical illustrations for pricing, yield, duration, and MTM
- Indian regulatory and market framework coverage
All content is structured to be clear, concise, and application-oriented.
Programme Structure
Module 1: Bond & Debenture Market Foundations
This module builds the base — without academic clutter.
You will learn:
- Role of bond markets in the financial system
- Money market vs bond market — practical differences
- What bonds and debentures really represent
- Key characteristics: issuer, maturity, coupon, priority
- Why governments, banks, and corporates issue debt
- How fixed-income instruments fit into real portfolios
Module 2: Bond Pricing, Yields & Market Mechanics
This module explains how prices actually move.
You will learn:
- Face value, coupon, issue price, clean price & dirty price
- Why bond prices move inversely to interest rates
- Current yield vs Yield to Maturity (YTM)
- Discount, premium, and par bonds — with examples
- How bonds are valued in the secondary market
Module 3: Interest Rate Risk, Duration & Yield Curves
This module explains why interest rate changes matter so much.
You will learn:
- What interest rate risk really means
- Duration explained intuitively and practically
- How duration impacts bond prices
- PVBP / DV01 — measuring risk in real money terms
- Yield curves and what their shape signals about the economy
Module 4: Indian Bond Market Structure & Regulations
This module connects theory with the Indian market reality.
You will learn:
- SLR vs Non-SLR instruments
- Government Securities (G-Secs) and their role
- Corporate bonds and debentures in India
- RBI and SEBI regulatory framework
- Market participants, platforms, and settlement systems
- MTM, Trading Practices & Treasury Perspective
- Portfolio classification: HTM, AFS, HFT
- Why Mark-to-Market (MTM) happens
- How MTM impacts P&L and capital
- Practical MTM calculation examples
- How treasury and risk teams manage interest rate exposure