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h explain the potential sources of excess return for an international bond portfolio; Flashcards Preview
L3 22 Fixed- Income Portfolio Management—Part II
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L3 22 Fixed- Income Portfolio Management—Part II
Class (13):
B Discuss The Use Of Repurchase Agreements (Repos) To Finance Bond Purchases And The Factors That Affect The Repo Rate;
A Evaluate The Effect Of Leverage On Portfolio Duration And Investment Returns;
C Critique The Use Of Standard Deviation, Target Semivariance, Shortfall Risk, And Value At Risk As Measures Of Fixed Income Portfolio Risk;
D Demonstrate The Advantages Of Using Futures Instead Of Cash Market Instruments To Alter Portfolio Risk;
E Formulate And Evaluate An Immunization Strategy Based On Interest Rate Futures;
F Explain The Use Of Interest Rate Swaps And Options To Alter Portfolio Cash Flows And Exposure To Interest Rate Risk;
G Compare Default Risk, Credit Spread Risk, And Downgrade Risk And Demonstrate The Use Of Credit Derivative Instruments To Address Each Risk In The Context Of A Fixed Income Portfolio;
H Explain The Potential Sources Of Excess Return For An International Bond Portfolio;
I Evaluate 1) The Change In Value For A Foreign Bond When Domestic Interest Rates Change And 2) The Bond’s Contribution To Duration In A Domestic Portfolio, Given The Duration Of The Foreign Bond And The Country Beta;
J Recommend And Justify Whether To Hedge Or Not Hedge Currency Risk In An International Bond Investment;
K Describe How Breakeven Spread Analysis Can Be Used To Evaluate The Risk In Seeking Yield Advantages Across International Bond Markets;
L Discuss The Advantages And Risks Of Investing In Emerging Market Debt;
M Discuss The Criteria For Selecting A Fixed Income Manager.