Covered bonds explained clearly. Learn how covered bonds work, how they differ from securitisation, the role of the cover pool, and why they are considered low-risk instruments in fixed income exams.

Why should an American call option on a non-dividend-paying stock never be exercised early? Understand the intuition, time value, dominance argument, and interest rate logic behind this key option pricing result.

Explore the workings of synthetic CDOs, their structure, and the associated credit risk exposure in the world of financial derivatives.

Discover bond futures: contracts to buy or sell bonds at set prices on specific dates. Understand their mechanics, benefits, drawbacks, and risks in trading.