everything.study
AP/ADMS 4504

Fixed Income Securities and Risk Management

3.0 credits

Fall 2026

Topics

  • Debt-security features, bond sectors and yield spreads
  • Bond valuation, duration and convexity
  • Spot and forward rates
  • Interest-rate term structure and volatility
  • Binomial valuation without arbitrage
  • Mortgage-backed and other asset-backed securities
  • Monte Carlo valuation
  • Interest-rate derivatives and credit analysis

Readings

  • Recommended: CFA Institute, James Adams and Donald Smith, Fixed Income Analysis, 5th ed. (Wiley, 2022).
  • Supplementary: Frank J. Fabozzi, Bond Markets, Analysis, and Strategies, 10th ed. (Pearson, 2021).
  • Supplementary: Bruce Tuckman, Fixed Income Securities: Tools for Today's Markets, 4th ed. (Wiley, 2022).
  • Additional required articles are posted on eClass.
Sources