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Deep Dive on Bonds
IBF-STS Approved
23 Jul, 16 Sep, 5 Nov 2025
8 CPD Hours
With the current cooling-off in inflation and the latest dot plots, the US Fed is expected to cut rates, with investors starting to favor bonds again. This deep dive course will cover key fundamental bond concepts, complemented with real world examples and a live bond investing/allocation simulation to help finance professionals develop a strong understanding of bonds. They will subsequently be well-positioned to advise their clients better on their bond investments.
Pre-Requisites
Participants will require a good understanding of the broader capital markets & basic knowledge of bonds in terms of how they work.
I. Bond Valuation & Risk
- Introduction & terminologies
- What is spread?
- Z-spread
- Credit Default Swap (CDS)
- Components of bond yield
- Getting risk for return
- COLT Framework – Credit, Optionality, Liquidity, Tenor
II. Bond Portfolio Management
- Role of bonds in a portfolio
- Bond portfolio risks
- Active vs. passive strategies
- Leverage – scenarios and risks
- Live bond trading simulation focused on portfolio
construction and scoring in terms of
diversification and risk-adjusted returns
III. Primary Markets & Credit Ratings
- Factors that determine pricing
- New issue premium
- Tightening
- Book building and allocations
- Credit ratings ladder
- Factors that determine credit ratings
- Altman’s Z-Score
IV. Secondary Trading of Bonds
- Current bond industry structure
- How to track bond prices
- Importance of news monitoring
- How to assess liquidity of a bond
- Electronic trading & application of blockchain tech
V. ESG Bonds
- ESG bond types
- ESG standards
- Greenium
- Greenwashing
VI. Asian High Yield Bond Analysis
- What are high yield bonds?
- High yield bond structures
- Key idiosyncratic risks
- Protection against key risks via the covenant package
- Current high yield environment
VII. Perpetual Bonds
- What are AT1s?
- Bank liability structures
- Common features of AT1s
- Loss absorption mechanisms
- Corporate perps
Dr. Rahul Banerjee
Co-Founder & CEO, BondbloX
Rahul is a DCM-banker with 20 years of experience, including stints at global premier banks such as Credit Suisse, Nomura and Citi. In his previous role, he was the Global Head of International Corporates, Financial Market Sales at Standard Chartered Bank, where his team was based across all the major dealing rooms and covered the Fixed Income needs of large corporate clients.
Pramod Shenoi
President, CreditSights Singapore
Pramod has extensive experience in debt markets. He is the Head of Research for Asia Pacific at CreditSights, an independent credit research firm that caters to institutional bond investors. Prior to this, he was the regional head of financial institutions for Mizuho Securities’ Debt Capital Markets team, covering financial issuers in Asia ex Japan.
Raahil Shah, CFA
Director, BondbloX
Raahil is Vice President - Fixed Income Sales at BondbloX. He has 10 years of capital markets experience and is a CFA charterholder. At BondbloX, he leads Fixed Income Sales for HNI and key institutional clients. He also developed the ESG bonds product and conducts trainings for banks on the topic. Prior to BondbloX, he worked in Institutional Equity Research at HDFC Securities and Credit Research at Debtwire in Mumbai. He holds a Master's degree in Wealth Management from Singapore Management University.
Shashank Sawant
Founder, The Credit Balance
Shashank is an experienced banker with over 18 years of corporate and investment banking experience having worked with leading banks in Singapore, New York and Mumbai.
He started his career with Lehman Brothers in their Global Power and Utilities investment banking team and since then has held various positions at Deutsche Bank, Standard Chartered and Bank of America. He has extensive product expertise and hands-on deal experience gained from successful deal executions spanning across Structured Lending, Shipping and Aviation finance, Risk Management and Treasury Solutions, Trade Finance, M&A Advisory, Project Finance and Capital Market solutions.
Shashank founded his education focused venture, The Credit Balance, in 2021 and has been actively teaching corporate finance, macroeconomics and investing related topics since. He actively blogs his macro and investing views at www.thecreditbalance.com
Damien Ng
Director, BondbloX
Damien has over a decade of experience in Fixed Income, Currencies, and Commodities (FICC) at leading banks like Macquarie, OCBC and Standard Chartered Bank. He is proficient at bonds, FX and rates derivatives. He has expertise in structuring complex financial products and managing senior client relationships with both Financial institutions and Corporate clients. Damien holds a Master’s degree in Economics from Singapore Management University (SMU).
This program is designed and curated for:
- Individual investors
- Private bankers
- Relationship managers
- Investment counsellors
- Wealth managers
- Analysts
- Asset Managers
Teaching Style
A balanced mix of theory & practice where each concept is explained with real-world examples from the current bond markets.
- Understand how bonds are valued and the factors that impact a bond’s price/yield
- Identify key risks associated with bonds and mitigation techniques
- Build a balanced bond portfolio customized to their client’s needs
- Study new bond deals with respect to bond terms and pricing and determine suitability for clients
- Learn about electronic bond trading platforms and execute bond trades
- Evaluate green, social, sustainable and sustainability-linked bonds with relevant ESG metrics
- Analyse high yield bonds in terms of covenant packages, risks and red flags associated with Chinese bond issuers
- Assess AT1 perpetual bonds – popular with private bank clients – in terms of common features, trigger/write-off mechanisms and coupon resets
Fees & Funding
SGD 1,000 before GST & funding.
50/70% IBF funding for Singapore citizens and PRs in 2024.
Date and time
| Date | Day | Timezone | Time |
|---|---|---|---|
| 23 July 2025 | Wednesday | Asia/UK | 9am to 5pm SG/HK |
| 16 September 2025 | Tuesday | Asia/UK | 9am to 5pm SG/HK |
| 5 November 2025 | Friday | Asia/UK | 9am to 5pm SG/HK |
Terms & Conditions
Course fees are non-refundable. Customers can reach out to us via email for further clarifications.
Assessment
The course will conclude with an online assessment of up to 20 multiple-choice questions, requiring an 70% pass rate.
Disclaimer
The materials and information contained herein are solely for general information reference and educational purposes only, and not intended to constitute nor as a substitute for legal, commercial and/or financial advice from an independent licensed or qualified professional. The information, opinions and views expressed herein are not, and shall not constitute an offer or a recommendation to sell, a solicitation of an offer to buy or an offer to purchase any securities, nor should it be deemed to be an offer, or a solicitation of an offer, or a recommendation, to purchase or sell any investment product or service or engage in any investment strategy. Nothing herein has been tailored to the investment objectives or financial situation of any specific individual, are current only as of the date hereof and may be subject to change at any time without prior notice. No representation, warranty or claim whatsoever is made nor implied as to the accuracy or completeness of any material or information contained herein, nor we have no liability whatsoever for any error, inaccuracies or omissions. No reliance should be made on the materials or information herein for any investment decision, and we accept no liability whatsoever for any direct or indirect loss whatsoever which may arise from the use or reliance of any such material or information. The business of investing is a complicated matter that requires serious financial due diligence for each investment. No representation whatsoever on the suitability or otherwise of any securities, products, or services for any particular investor. Each investor is solely responsible for its own independent investment decision based on its personal investment objectives, financial circumstances and risk tolerance, and should seek its own independent legal, tax and other professional advice prior to any such decision.
The inclusion of any hyperlinks or external links should not be seen as an endorsement or recommendation of that website or the views expressed therein. We do not have any control over the content or actions of the websites we link to and will not be liable for anything that occurs in connection with the use of such websites.
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For inquiries
Raahil Shah - VP, BondbloX
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.