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Learn Fixed Income with CFI

Q: What is fixed income?

“ Fixed income refers to investments that provide regular, predictable returns through interest or dividend payments. Examples include corporate and government bonds. It helps investors manage risk, generate stable income, and diversify portfolios.

Prepare for the Future of Finance with Fixed Income Courses from CFI. Whether you’re completely new to Capital Markets or a seasoned finance professional, Fixed Income is a valuable addition to your skillset.

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Topic Overview

Fixed income is a broad class of financial products that comprises any investment where the investor earns a set payment on a predetermined schedule. These payments take the form of fixed interest payments and repayments of the principal when the security reaches maturity. So, it’s a debt instrument, as opposed to equity, or stocks. And because they are debt securities with known cash flows, fixed income is an attractive investment option for a wide-range of institutional and individual investors. And since there is such demand for fixed income investments, many governments or corporations issue these debt securities, also called bonds, to finance themselves. Therefore, fixed income is important for current and aspiring finance professionals to prepare for their careers in global Capital Markets.

Our courses are 100-percent online and self-paced, allowing you to learn when it works best for you. We use proprietary technology to improve learning and retention and teach real-world skills, so you can be confident in your finance career.

18 courses

Consisting of over 990+ lessons

100+ interactive exercises

Learn by doing with guided simulations

Expert instructors

Learn from the very best

New courses monthly

On need-to-know subject matter

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Find the right Fixed Income course

Fixed income is a vital component of capital markets and other finance fields. Our courses develop your skills from the fundamentals of fixed income through to advanced topics, ideal for students and seasoned professionals alike. You’ll learn it all, from bonds and high-yield securities to credit derivatives and option pricing to prepare for a future career in capital markets, wealth management, or other in-demand finance fields. Courses can be applied to specializations or certifications to advance your career in finance.

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Introduction to Capital Markets

4.8

Gain a comprehensive overview of the capital markets, exploring sell-side, buy-side, career paths, and how market participants interact for efficient financial markets.

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Economics for Capital Markets

4.9

Understand economic principles impacting financial markets. Differentiate economic releases/indicators, central bank roles, and how events affect markets for trading and investing.

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2h 30min

Lifecycle of a Trade

4.6

Master the trade lifecycle in capital and derivative markets, understanding participant roles, trade initiation, execution, confirmation, clearing, and settlement.

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2h 30min

Asset Classes and Financial Markets

4.8

Understand financial markets, major asset classes, and key financial products. Learn to interpret market data and form opinions for financial advisory.

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3h 30min

Fixed Income Fundamentals

4.8

Explore fixed income markets, bond features like yield curves & credit spreads, and calculate bond prices & yield sensitivity using duration & convexity.

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3h 30min

Hedge Fund Fundamentals

4.8

Explore hedge funds: structure, fees, performance (Sharpe, information ratios), and strategies (directional, arbitrage, global macro) for a deeper understanding of the market.

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Historical VaR for Market Risk

5.0

Calculate Value at Risk (VaR) using the Historical method, a fundamental technique widely adopted in financial institutions to measure market risk.

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3h 30min

Advanced Futures & Forwards

4.8

Master advanced futures & forwards: learn basis, hedging, bond futures, implied repo rates, hedging CTD/non-CTD bonds, and understand LIBOR alternatives for trading strategies.

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Applied Fixed Income

4.9

Explore government & agency debt, zeroes, floaters & linkers, and callables & putables. Learn pricing, duration, convexity, and bond yield calculation.

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2h 30min

Advanced Fixed Income

4.8

Learn to construct and fit yield curves, value derivatives, and analyze bond pricing to identify cheap or rich bonds. Master bond futures and implied repo rates.

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4h 30min

High-Yield Bonds, Subordinated Debt, and Loans

4.9

Explore high-yield fixed-income, including bonds, subordinated debt, and loans. Learn about market dynamics, issuers, risks, and trading strategies, using real-world examples.

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Convertible Bonds

4.8

Learn convertible bonds: benefits, risks, types, issue processes, and valuation methods with Excel examples. Master CB structures, buyers, math, and trading strategies.

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4h 30min

Short Duration Products

5.0

Explore short-duration products, including money market instruments and derivatives, understanding their mechanics, uses, and market participants for finance careers.

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3h 30min

Credit Fixed Income

4.8

Explore credit fixed income, corporate bonds, and credit products like asset swaps, credit default swaps, and credit-linked notes to succeed in credit markets.

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Repo (Repurchase Agreements)

4.7

Examine short-term funding: explore repo types, uses, risks, and payment calculations. Understand trade motivation, full life cycles, interest, and negative rates.

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Origination Fundamentals - Debt Capital Markets Perspective

4.9

Explore capital markets through DCM/ECM roles, team collaboration, daily analyst tasks, career paths, and essential skills, culminating in building a DCM update.

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3h 30min

Securitized Products

4.9

Learn the securitization process, product structures, and risks. Understand mortgage basics, including loan classifications and MBS pooling. Practice valuing and hedging MBS.

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Securitized Products: Collateralized Mortgage Obligations (CMOs)

5.0

Explore CMOs: legal/structural, history, risks, and diverse structures (SEQs, PACs, Zs, IOs, POs, Jump Zs). Learn how CMOs meet investor needs and impact portfolio management.

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Discover Free Fixed Income Resources

Explore all of CFI's Fixed Income learning and development resources.

What is a Bond ETF?

Fixed Income Wealth Management Articles Capital Markets

Global Alternative Reference Rates

Fixed Income Articles Capital Markets

Tokyo Overnight Average Rate (TONAR)

Fixed Income Articles Capital Markets

Collateralized Mortgage Obligations (CMOs): A Beginner’s Guide

Fixed Income Articles Capital Markets

Commercial Mortgage Backed Securities (CMBS): A Beginner's Guide

Commercial Lending Commercial Real Estate Fixed Income Risk Management Articles

Convertible Debt Expense

The accounting for convertible debt interest expense differs between US GAAP and IFRS

Accounting Fixed Income Articles Capital Markets

Tax Equivalent Yield

Fixed Income Articles Capital Markets Financial Math

Yield to Worst

Fixed Income Articles Capital Markets Financial Math

What’s the US Debt Ceiling All About?

Also known as the debt limit, the US debt ceiling is a limit set by the American Congress on how much the US Government is...

Fixed Income Articles Capital Markets

Credit Risk

The risk that a borrower may not repay credit obligations

Commercial Lending Fixed Income Articles Credit Risk

Debt Origination (Capital Markets)

The process of raising debt in the capital markets for larger borrowers

Fixed Income Articles Capital Markets

Repurchase Agreement (Repo)

The sale and subsequent repossession of the same security at a future date at a higher price

Fixed Income Articles Capital Markets

See All Fixed Income Resources

Why Learn Fixed Income with CFI?

As a leader in online financial analyst certification programs, CFI is completely finance-focused and offers training and skill development for current and aspiring finance professionals. Our courses are guided by the skills of professional Wall Street trainers who have been teaching new hires at major investment banks for over 20 years.

Using leading instructors and proprietary technology, our courses combine theory and application in condensed, self-paced programs that develop real-world learning and skillsets. You can take courses anytime, from anywhere.

Over 75% of CFI learners report improved productivity or competency within weeks.

With our Fixed Income courses, you can learn:

The key concepts of fixed income instruments, and bond basics including yield, coupon, and day count, as well as how to calculate the price of a bond

To recognize how and why market participants short stocks

To describe the range of prime services activities

How to calculate cash flows in securities lending

Who are the major bond investors and who are the key issuer types

All the various types of fixed income products and how to trade them

Understand how to use fixed income products, including derivatives, to express your investment view

Who should take these courses?

Our fixed income courses focused on all fixed income topics, beginner to advanced, to build your skillset in asset management, sales and trading, investment banking, and more. Common career paths for students in fixed income courses include treasury, risk management, wealth management, and other capital markets careers.

Investment professionals

Management consultants

Financial analysts

Registered Provider: National Association of State Boards of Accountancy

All courses are accredited by the Better Business Bureau (BBB), CPA Institutions in Canada, and the National Association of State Boards of Accountancy (NASBA) in the US. Most courses qualify for verified CPE credits for CPA charter holders.

Courses include video lessons, quizzes, and final assessments.

Frequently Asked Questions

If you haven’t found your answer from our FAQ, please send us a message.

What is fixed income?

“Fixed income refers to investments that provide regular, predictable returns through interest or dividend payments. Examples include corporate and government bonds. It helps investors manage risk, generate stable income, and diversify portfolios.

How long does it take to learn fixed income online?

Most learners can build foundational fixed income knowledge within a few weeks of part-time study. With CFI’s self-paced format, you can progress at your preferred speed from anywhere.

How does fixed income training support career growth?

Fixed income expertise supports careers in asset management, capital markets, risk analysis, and investment research. It signals the ability to analyze bonds, assess credit risk, and understand interest rate dynamics.

Can beginners start with CFI’s fixed income courses?

Yes. CFI’s fixed income courses begin with fundamentals and progress to advanced topics like yield curves and valuation, with guided exercises suited for all skill levels.

What skills do you learn in fixed income training with CFI?

Learners develop skills in bond pricing, yield curve interpretation, credit risk evaluation, and portfolio analysis. Training emphasizes real-world application and investment decision-making.

What is included in CFI’s fixed income courses?

Courses include expert-led lessons, case studies, templates, and interactive exercises. Learners receive access to a broad finance training library and optional certification pathways.

Is a fixed income certification worth it?

Yes. A fixed income certification validates expertise in bond valuation, credit assessment, and interest rate analysis. CFI’s Capital Markets & Securities Analyst (CMSA®) certification provides practical, career-ready training in these areas.

If you haven’t found your answer from our FAQ, please send us a message.