DCM · Credit · FIG · Sovereign
Learning Paths
From concept to real deal — structured sequences to understand capital markets deeply.
3 paths · 17 steps total
BeginnerDCM
DCM First Steps
How bonds come to market — from origination to investors
Get a bird's-eye view of DCM, then see how book-building, NIC and the syndicate work together — anchored by the Korea 1998 sovereign bond case.
⏱ ~55 min5 steps
Start →IntermediateFIG
The World of Bank Capital
AT1, CoCo, bail-in — bonds designed to absorb losses in a crisis
Master spread and OAS pricing, understand bank ALM, then dive into the Credit Suisse AT1 write-down — the most dramatic bank capital event in modern history.
⏱ ~70 min5 steps
Start →AdvancedCredit
Credit Spectrum Mastery
From AAA to default — what happens to bonds as credit quality shifts
The difference between IG and HY, how spreads price risk, how CACs enable restructuring — anchored by two landmark deals spanning crisis and recovery.
⏱ ~80 min7 steps
Start →