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CM03 Inflation & Real Rates

Course
130 Lessons

Price the linker. Read the breakeven. Separate real from nominal.

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Module 01 - Inflation exposure and real-rate decisions (Chapters 01–10)

1. The Inflation Exposure the Bond Hedge Missed.m4a

2. Nominal Versus Real Cash Flows.m4a

3. A Price Index Is a Contract Term.m4a

4. Inflation Rates, Levels, and Observation Dates.m4a

5. Real Yield and Inflation Compensation.m4a

6. Who Trades Inflation and Why.m4a

7. Policy Rates, Supply Shocks, and Real Rates.m4a

8. Contractual Inflation Versus Economic Inflation.m4a

9. Build Meridian's First Inflation Exposure Map.m4a

10. Foundation Capstone_ Protect the Client Payment.m4a

Module 01 - Inflation exposure and real-rate decisions.chapters.txt

Module 01 - Inflation exposure and real-rate decisions.png

Module 01 - Inflation exposure and real-rate decisions.mp4

Module 02 - Index data, lags, and reference calculations (Chapters 11–20)

11. U.S. CPI Series Used by TIPS.m4a

12. UK RPI and Linked-Gilt References.m4a

13. French CPI and Euro-Area HICP Ex Tobacco.m4a

14. Publication Lag and Known Versus Forecast Index.m4a

15. Daily Reference Indices and Interpolation.m4a

16. Base Index, Rebasing, and Index Ratios.m4a

17. Seasonality of Monthly Price Indices.m4a

18. Revisions, Corrections, and Fallbacks.m4a

19. Index Source Lineage and Historical Replay.m4a

20. Data Capstone_ A Wrong Inflation Fixing.m4a

Module 02 - Index data, lags, and reference calculations.chapters.txt

Module 02 - Index data, lags, and reference calculations.png

Module 02 - Index data, lags, and reference calculations.mp4

Module 03 - U.S. TIPS cash flows and valuation (Chapters 21–30)

21. TIPS Security Terms and Issuance.m4a

22. Indexed Principal and Coupon Calculation.m4a

23. TIPS Redemption Floor at Maturity.m4a

24. TIPS Clean Price, Accrued Interest, and Settlement.m4a

25. Real Yield to Maturity on an Indexed Bond.m4a

26. TIPS Real-Duration and Inflation Exposure.m4a

27. TIPS Auction and Secondary-Market Liquidity.m4a

28. Deflation Scenarios and Floor Optionality.m4a

29. TIPS P&L_ Real Rates, Inflation, and Carry.m4a

30. TIPS Capstone_ The Phantom Inflation Gain.m4a

Module 03 - U.S. TIPS cash flows and valuation.mp4

Module 03 - U.S. TIPS cash flows and valuation.chapters.txt

Module 03 - U.S. TIPS cash flows and valuation.png

Module 04 - UK and euro inflation-linked sovereign markets (Chapters 31–40)

31. Index-Linked Gilt Cash-Flow Architecture.m4a

32. Historical Gilt Indexation Lags.m4a

33. UK RPI Reform as Contract and Model Risk.m4a

34. French OATi Versus Euro-Area OAT€i.m4a

35. Euro-Area HICP Ex Tobacco and Base Changes.m4a

36. Linker Quotation and Settlement Across Markets.m4a

37. Nominal Comparators for UK and Euro Linkers.m4a

38. Cross-Market Inflation Basis.m4a

39. Local Market Data and Independent Marks.m4a

40. Regional Capstone_ Three Bonds, Three Results.m4a

Module 04 - UK and euro inflation-linked sovereign markets.mp4

Module 04 - UK and euro inflation-linked sovereign markets.chapters.txt

Module 04 - UK and euro inflation-linked sovereign markets.png

Module 05 - Real curves, breakevens, and inflation compensation (Chapters 41–50)

41. From Linker Prices to a Real-Yield Curve.m4a

42. Real Discount Factors and Forward Real Rates.m4a

43. Matching Nominal and Real Bonds.m4a

44. Spot and Forward Breakeven Curves.m4a

45. Inflation Risk Premium and Liquidity Premium.m4a

46. Seasonality and Short-Dated Breakevens.m4a

47. Breakeven Carry and Roll-Down.m4a

48. Breakeven P&L Explain.m4a

49. Relative Value Across Linkers and Inflation Swaps.m4a

50. Curve Capstone_ The Breakeven Headline Is Wrong.m4a

Module 05 - Real curves, breakevens, and inflation compensation.mp4

Module 05 - Real curves, breakevens, and inflation compensation.chapters.txt

Module 05 - Real curves, breakevens, and inflation compensation.png

Module 06 - Inflation swaps and index-linked cash-flow trades (Chapters 51–60)

51. Zero-Coupon Inflation Swap Contract.m4a

52. Zero-Coupon Swap Payoff and Quoted Rate.m4a

53. Year-on-Year Inflation Swap.m4a

54. Inflation Swap Index and Calculation Terms.m4a

55. Build an Inflation Swap Curve.m4a

56. Seasonality in Inflation Swap Pricing.m4a

57. Discounting, Collateral, and Inflation PV.m4a

58. Swap Sensitivities by Inflation Tenor.m4a

59. Inflation Swap P&L and Fixing Explain.m4a

60. Swap Capstone_ Hedge an Indexed Pension Payment.m4a

Module 06 - Inflation swaps and index-linked cash-flow trades.mp4

Module 06 - Inflation swaps and index-linked cash-flow trades.chapters.txt

Module 06 - Inflation swaps and index-linked cash-flow trades.png

Module 07 - Inflation optionality and advanced real-rate structures (Chapters 61–70)

61. Inflation Floors and Deflation Protection.m4a

62. Zero-Coupon Inflation Caps and Floors.m4a

63. Year-on-Year Inflation Options.m4a

64. Inflation Volatility Quotes and Model Choice.m4a

65. Deflation Floor Valuation and Path Dependence.m4a

66. Inflation-Real-Rate Correlation.m4a

67. Structured Index-Linked Cash Flows.m4a

68. LPI and Contract-Specific Inflation Caps.m4a

69. Model Validation of Inflation Optionality.m4a

70. Options Capstone_ The Hidden Deflation Exposure.m4a

Module 07 - Inflation optionality and advanced real-rate structures.mp4

Module 07 - Inflation optionality and advanced real-rate structures.chapters.txt

Module 07 - Inflation optionality and advanced real-rate structures.png

Module 08 - Real-rates trading, hedging, and funding (Chapters 71–80)

71. Nominal Versus Linker Breakeven Trade.m4a

72. Cash Linker Versus Inflation Swap Basis.m4a

73. Real-Rate Hedge with Nominal Swaps.m4a

74. Hedge a Near-Term CPI Fixing.m4a

75. Cross-Index Basis and Client Fit.m4a

76. Funding and Margin in a Real-Rates Trade.m4a

77. Auction, Liquidity, and Event Risk.m4a

78. Cross-Market Real-Rates Relative Value.m4a

79. Intraday Hedge Drift and P&L Defense.m4a

80. Trading Capstone_ A Breakeven Trade Unravels.m4a

Module 08 - Real-rates trading, hedging, and funding.mp4

Module 08 - Real-rates trading, hedging, and funding.chapters.txt

Module 08 - Real-rates trading, hedging, and funding.png

Module 09 - Inflation risk, controls, and client governance (Chapters 81–90)

81. Map Inflation and Real-Rate Risk Factors.m4a

82. Sensitivities to Index Prints and Curves.m4a

83. Historical VaR with Sparse Inflation Data.m4a

84. Inflation Stress and Full Revaluation.m4a

85. Index Reform, Disruption, and Basis Stress.m4a

86. Backtesting and Inflation P&L Explain.m4a

87. Independent Price Verification and Reserves.m4a

88. Limits, Concentrations, and Escalation.m4a

89. Client Communication and Conduct Controls.m4a

90. Risk Capstone_ A CPI Data Correction.m4a

Module 09 - Inflation risk, controls, and client governance.mp4

Module 09 - Inflation risk, controls, and client governance.chapters.txt

Module 09 - Inflation risk, controls, and client governance.png

Module 10 - Integrated Meridian real-rates desk defense (Chapters 91–100)

91. Freeze the Opening Multi-Market Portfolio.m4a

92. Build an Inflation Thesis with Alternatives.m4a

93. Price Index-Linked Cash Flows Independently.m4a

94. Trade and Fund the Real-Rates Book.m4a

95. Produce Nominal and Real P&L Explain.m4a

96. Measure Multi-Factor Risk and VaR.m4a

97. Run Joint Inflation and Liquidity Stress.m4a

98. Independent Valuation and Model Challenge.m4a

99. Present the Client and Risk Committee Packs.m4a

100. Final Defense_ Inflation Shock and Index Basis.m4a

Module 10 - Integrated Meridian real-rates desk defense.mp4

Module 10 - Integrated Meridian real-rates desk defense.chapters.txt

Module 10 - Integrated Meridian real-rates desk defense.png