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Signature Series - Bond-Aids - Online

Tuition:
$2,995.00
$1,995.00
(You save $1,000.00 )

COURSE OVERVIEW

The US Bond Market is 3 times the size of the US Stock Market! This 3-day program demystifies the Federal Reserve and how it works. Gain a more in-depth understanding of the U.S. Bond Market, learn how interest rates impact the investor, speculator or “saver,” and discover how the Federal Reserve impacts the marketplace.

How do fluctuating interest rates influence other asset classes you may own, including Equities, Currencies and Commodities? How does the “Over-The-Counter” market impact investors? How to construct a Bond Ladder? Learn these and other bond strategies in this intermediate-level workshop.

Prerequisites: Core Strategy Program (Core Strategy Class with XLT) or Strategic Investor Program(Strategic Investor Part 1 and 2 with XLT)

*Note: This is a one-time class offering, no retakes. Includes weekly 1hr companion sessions.

MORE DETAILS +

The U.S. Bond market is 3 times the size of the US equity market, yet we believe more investors have a better understanding of the stock market. Specific attention is paid here to using current examples to illustrate the major learning points, as well as demystifying the jargon, terminology and “lingo” unique to this product. We review the feature/benefits of the various products within the Fixed Income Market, as well as review the various methods of investing and trading in Interest Rate products, be it via ETF’s Futures, Options, or the Bonds themselves. This program will showcase bond strategies that can be used for passive income strategies, as well as a trading vehicle for more active traders.

The Treasury market is the foundation of the U. S. bond market. It acts not only as a primary funding vehicle for the government, but a benchmark for the entire marketplace. This first day will discuss the products which make up the Treasury Marketplace. Additionally, we will discuss the factors that affect this market with particular emphasis on monetary policy, and the role and impact of the FOMC/Federal Reserve.

DAY 1

  • Size and Scope of the U.S. Fixed Income Market
  • Bonds “101” Explaining the Basics of Bonds
    • Coupon/Maturity/Structure
    • Pricing
    • Yield/Price Relationship
    • Issuer and Investor Benefits
  • Treasury Products
    • Bill, Notes, Bonds, and Tips
    • Features/Benefits
  • Role of the Federal Reserve
    • Function and Structure of the FOMC
    • Monetary Policy
      • Federal Funds/Discount Rate/Prime Rate
      • Repurchase Agreements (“Repo”)
  • Money Market Funds for the Retail Investor
  • The Treasury Yield Curve
    • Shape and Slope
    • Role as a Benchmark
    • As a Forecasting Tool
  • Current Issues/Trends
    • Feds Exploding Balance Sheet
    • Understanding the 2020 Fed/Monetary Initiatives
    • Exploding Deficit and Impact to Bonds
    • Current Economic Outlook
    • Interest Rate Impact on other Asset Classes: Equities/Currency/Commodities
  • Trading the Market: Interest Rate Futures
    • Contract Specifications
    • Strategies: Spread Trading: “Riding the Yield Curve”
      • Strategies to not trade outright positions, but spread trading
      • Trading the Dynamic shifts of the Yield Curve

DAY 2

  • Fixed Income Analytics
    • Understanding Yields (CY, YTM, YTC, YTW)
    • Demystifying Duration
      • Understanding Volatility in Bonds
      • Contrasting with Alpha in Stocks
  • Credit Products – Corporate Bonds
    • Structure
    • Optionalities  (Puts, Calls, Sinking Funds, Convertibles)
    • Role of Rating Agencies
    • High Yield Securities
    • Credit Spreads
  • Current Issues/Trends
    • “Credit Bubble?”
    • Role of the Rating Agencies
    • Preponderance of Baa/BBB Investment Grade in Today’s Market
    • Junk Market: Risk/Reward
  • Strategy: Corporate Bond ETF’s
    • Bond ETF’s for Passive Management
    • Leverage and inverse ETFs
    • Options on ETF
      • Risk/Reward
      • Leveraging
      • Referral to Core Strategy

DAY 3

  • Credit Product – Municipal Bonds
    • Size and Scope of the Marketplace
    • Structure (General Obligation, Revenue Bonds)
    • Optionalities (Pre-Refunded, Callable, Sinking Funds)
    • Tax Ramifications: After Tax Yield, (ATY), Taxable Equivalent Yield (TEY)
  • Credit Product – Mortgage Backed Securities (MBS)
    • Understanding the Nature of a “Pass-Thru” Bond
    • Credit Risk, Interest Rate Risk, Prepayment Risk
    • Agency vs Non-Agency MBS
  • Strategies: Constructing a Bond Ladder
    • Passive Portfolio Management vs Active Management
    • Feature/Benefits of a Bond Ladder
    • Various Asset Categories
      • CD’s, Corp Bonds, Muni Bonds Treasury
      • Treasury Direct.Gov
  • Wrap Up and Conclusion
    • Suggested Resources
    • Detail Weekly Instructor Updates
    • Further Exposure to Core Strategy

MEET THE INSTRUCTOR

Bob Dunn

Bill Addiss

Specialty: Core Strategy

As the principal of international training firm Amherst Financial Training, Mr. Addiss develops and facilitates educational programs for major financial institutions and governments.

Prior to establishing Amherst Financial Training in 1994, Mr. Addiss had a 23-year career on Wall Street.  Starting with E.F. Hutton, he worked as an analyst with the Interest Rate Futures Department, Retail Stockbroker and as National Sales Manager for Taxable Fixed Income.  When E.F. Hutton was acquired by Shearson Lehman Brothers, his responsibilities were expanded to National Sales Manager for Fixed Income for the newly combined firms. His final position at Lehman Bros. was as Managing Director, Executive Vice President in the Capital Markets Division.

After Lehman Brothers, Mr. Addiss served as President of Community Securities, a subsidiary of Rochester Community Savings Bank.  In this role, he developed and implemented a variety of initiatives to more fully integrate the full-service broker/dealer into the parent holding company bank.