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In this video, we dive deep into Fixed-Income Securities for CFA Level I, tackling this highly technical topic that's also one of the most crucial in the CFA curriculum. Understanding fixed-income securities is essential, given their prevalence in investment and retirement portfolios, as well as the significant levels of public debt worldwide. We'll take a step-by-step approach to ensure you grasp the fundamentals of bonds and their defining elements.

We'll cover bond valuation, explore the interplay between coupon rate and Yield-to-Maturity, and how it affects bond pricing. You'll learn about convergence to par as maturity approaches, reinvestment rates, holding periods, and the impact of changes in YTM on the actual annual profitability of fixed-income instruments. Our practical approach will give you a deep understanding of how YTMs are influenced by shifts in interest rates and issuer-specific risk levels, as well as why spot rates exist and how they address the limitations of YTM.

A solid grasp of fixed-income basics will provide a significant advantage for Levels II and III. Don't miss this opportunity to gain a profound understanding of this crucial topic. Watch the video now!

📘 CFA Level I Curriculum Reference:
Topic: Fixed-Income Securities

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