Fixed-income markets are where issuers raise debt capital by issuing a range of different types of fixed-income products, also called bonds. This course explores the main types of bonds and who issues them, and the relationships between interest rates, bond prices, yields, and credit ratings to give a comprehensive and practical introduction.

By the end of this course, you will be able to:

• Describe the key features of the main types of bonds and who issues them.
• Understand the relationship between bond prices and bond yields.
• Assess the credit quality of bonds and differentiate between investment grade and high-yield bonds.
• Interpret what changes in yield curves mean for the real economy.