-- Participants of the Fixed Income Securities: :
? Investors of the Fixed Income Securities: These may be long term or short term investors and may inlcude retail investors (small amount investments) to large investors (million-billion dollar amount investments)
? Issuers of the Fixed Income Securities: The banks, organizations, governments who actually issue new Fixed Income Securities
? Sell-side of the Fixed Income Securities: These are broker dealers who make the markets and fulfill the demands of
? Service Organizations of the Fixed Income Securities:
-- Bond Concepts or Fixed Income Securities Concepts: There are certain concepts on which any product is based, same goes for the financial products. The Fixed Income Securities are based on the concepts of Interest Rates(heavily) and minutely on other factors like inflation, other macro-economic factors, etc.
? Interest Rates
o Conventional Yield Measures
? Ratings
? Term
? Yield Curves
-- Fixed Income Securities : In this section, we cover the basic types and characteristics of the Fixed Income Securities.
? Types & Characteristics of Fixed Income Securities
o Government securities
? Treasury bills
? Notes
? Bonds
? Treasury Inflation Protected Securities (TIPS, I- bonds)
? Agency securities
o Mortgage backed securities
? Agency
? Non-conforming
o Asset backed securities
? CMO
? Cash Flow
o Credit card receivables: Not for individuals, but this is for the banks issuing the credit cards and have an outstanding receivable from the credit card holders.
o Auto loans:
o Receivables:
o State and local government
? General obligation;
? Revenue
o Corporate bonds
? General obligation
? Indentures
-- Trading MarketPlaces:
? Traditional Exchanges
? Over the Counter
? Electronic Markets
? Quotes
-- Risks/Reward:
? Risks
o Default
o Interest Rate
o Inflation
o Liquidity
? Rewards
o Capital Gains
o Interest Income
o Entitlements
? Remedies in the Event of Default
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