Fixed Income Finаncial Assets in Greater BRICS

2024/2025

Academic Year

ENG

Instruction in English

3

ECTS credits

Delivered at:

School of Finance

Course type:

Elective course

When:

2 year, 1 module

Course Syllabus

Abstract

The course is designed to provide a theoretical framework for the practical analysis of BRICS+ fixed income instruments. While the primary focus is the valuation of the specific bond issue, the course also applies to the general principles of the credit analysis and basic concepts of the portfolio management. We'll discuss valuation of BRICS+ bonds, compare Asian and LATAM peers and develop a model of BRICS+ bond portfolio. Following defaults in China we’ll focus on the analysis of HY & even distressed bonds and introduce several scenarios of corporate debt restructurings. The course also offers a thorough understanding of the local currency bond markets, including practical cases from Russia and Iran. The course will be taught in an interactive format. The students are expected to be familiar with fixed income securities and their basic risk characteristics. Though quantitative background is helpful, we will spend our time on the concepts and their application rather than mathematical derivation.