Key Benchmark Curves in Capital Markets

Key Benchmark Curves in 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’.
Overview

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:

  • What does the yield curve tell us?

  • Identify and explain each of the key benchmark curves

  • How can we identify the credit benchmark to reference in pricing a new Sterling bond?

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Summary
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Expert
Nigel Owen

Nigel Owen

Nigel spent nearly 20 years in debt capital markets. During this time, he worked for The Royal Bank of Scotland, Royal Bank of Canada, and National Australia Bank. Nigel has moved across various teams including treasury, private placement, origination, and syndicate. He currently works for the National Australia Bank to run the new issuance desk in Europe.

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