Advanced
In-depth reads for experienced fixed-income investors.
Building a Fixed-Income Portfolio: Structure, Spreads & Risk-Adjusted Returns
Anyone can raise a portfolio’s yield. Just buy riskier bonds. The real question - the one that separates thoughtful investors from yield-chasers - is whether you’re being adequately paid for the risk you’re adding.
RBI Policy, the Yield Curve & What Moves Bond Prices
from an RBI committee’s decision to the price of the bond in your portfolio, and shows how experienced investors use the yield curve as a forward-looking instrument rather than a chart to admire.
Bond Valuation: What a Bond Is Actually Worth
discounting from first principles, Macaulay vs modified duration, convexity as an asymmetry favouring the holder, negative convexity in callables, yield-to-worst, reinvestment risk, and the nominal → G-spread → Z-spread → OAS hierarchy, with an honest section on how thin Indian liquidity degrades these models.
Beyond Plain Vanilla: Where Structural Risk Hides in Fixed Income
where the structure, not the issuer, is the risk. AT1 loss absorption, the call-date illusion, MLD payoff mechanics, and floating-rate and zero-coupon structures