Debt Markets

This course is intended for those who plan careers that may involve debt financing for their businesses or other investments, or involve trading or investing in debt instruments and their derivatives, including money-market instruments, government bonds, repurchase agreements, interest-rate swaps, corporate bonds, structured credit products, and credit derivatives. We will emphasize the institutional features of the markets, including trading, pricing, and hedging. The course includes a focus on distressed debt and restructuring. Most lectures will start with a cold-called student presentation of an un-graded short homework calculation. There will also be a series of graded homework, a take-home mid-term, and about seven graded 'pop quizzes' of 10 minutes or less.