Bonds Foundations
A bond from the ground up — the contract, the quote, the price-yield seesaw, the issuers, and the institutions that own the biggest market on earth.
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What are you actually buying when you buy a bond?
Start the first lessonUnit 1 What a Bond Is
- What are you actually buying when you buy a bond?
- Par, coupon, maturity: what do a bond's terms actually mean?
- Who issues bonds, and why borrow instead of selling shares?
- What does a bond's cash-flow timeline actually look like?
Practice Check · Unit 1 A short check · cannot be failed Start
Unit 2 How Bonds Are Priced & Quoted
- Why is a bond quoted at 98 instead of $980?
- Clean price, dirty price: what is accrued interest?
- Why must a bond's price move when interest rates move?
- Current yield versus yield to maturity: which number is the real return?
Practice Check · Unit 2 A short check · cannot be failed Start
Unit 3 The Bond Universe
- What makes a government bond different from every other bond?
- What are you lending to when you buy a corporate bond?
- Who else borrows in public — municipals, agencies and supranationals?
- Where do bonds come from, and where do they actually trade?
Practice Check · Unit 3 A short check · cannot be failed Start
Unit 4 Who Owns Bonds and Why
- Who actually owns the world's bonds?
- Why does a pension fund want a 30-year bond?
- Why is the biggest market in the world invisible to most investors?
- Bonds foundations — course checkpoint
Practice Check · Unit 4 A short check · cannot be failed Start
Last Course exam
One exam, the whole course Unlocks when you have read all 16 lessons
Passing it earns the course certificate. It also counts toward the Analyst track (course 7 of 8): pass every course exam in a track to earn its track certificate.