20 years: Debt capital markets
In his first video on benchmark curves, Nigel begins by explaining the benchmark curves which are used in global debt markets. Each benchmark curve is the foundation for bond pricing in its relevant market. This video will shed light on the ‘US treasury benchmark curve’, ‘Euro benchmark swap rate curve’ and the ‘Sterling benchmark gilt curve’.
In his first video on benchmark curves, Nigel begins by explaining the benchmark curves which are used in global debt markets. Each benchmark curve is the foundation for bond pricing in its relevant market. This video will shed light on the ‘US treasury benchmark curve’, ‘Euro benchmark swap rate curve’ and the ‘Sterling benchmark gilt curve’.
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10 mins 33 secs
Billions of dollars of new bonds are issued into the global debt markets and traded in the secondary markets every single day, once those bonds have been issued. In this video, Nigel explains the benchmark curves which are used in global debt markets. Each benchmark curve is the foundation for bond pricing in its relevant market. In particular the ‘US treasury benchmark curve’, ‘Euro benchmark swap rate curve’ and the ‘Sterling benchmark gilt curve’.
Key learning objectives:
Identify and explain each of the key benchmark curves
Describe the yield curve
Outline how can we identify the credit benchmark to reference in pricing a new Sterling bond
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A yield curve is a series of points plotting the yield of a set of securities against the length of time to maturity of those securities. That is the basis for any of the benchmark curves. The benchmark element comes with the agreed set of rules that define which securities will be used to define the relevant benchmark curve.
This content is also available as part of a premium, accredited video course. Sign up for a 14-day trial to watch for free.