Brief Description

The lecture "Bond Markets" deals with national and international bond markets, which are an important source of financing for companies as well as for the public sector. The lecture covers the basics of fixed income pricing, presents the concept of the yield curve, and highlights interest rate, credit and liquidity risks. After discussing the shape of the yield curve and the impact of monetary policy, the concept of no arbitrage and term structure modeling is introduced. Finally, the focus is on credit risk modeling and on questions regarding measurement and management of credit risks.