NISM 21B Portfolio Managers Exam Notes

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  • Derivatives in Bonds: Hedge, enhance yields.
  • Interest Rate Swaps: Exchange fixed/floating rates.
  • Credit Derivatives: Hedge default risk, e.g., CDS.
  • Bond Valuation: Discounts cash flows at yield.
  • Yield to Maturity (YTM): Total return if held to maturity.

NISM 21B Portfolio Managers

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