How bonds work
Learn how the bond market works without an exchange, what a bond’s terms say, and how a company brings one to market.
Practice: read a bond’s termsMoney moves across the bridge you build.Learn how companies borrow from investors, how bonds are priced and how to judge a borrower.
Everyone who finishes gets a certificate for the work they did. If your work is strong, you can also earn a certificate of appreciation or a letter of recommendation.
in recognition of outstanding contribution and dedication shown during the Debt Capital Markets bootcamp, and of a curiosity that went well beyond the syllabus.
I am writing to recommend Your Name, who completed the Debt Capital Markets bootcamp with Fin Maverick from 01/01/2026 to 01/06/2026.
Over the course of the program Your Name worked on the Debt Capital Markets capstone and consistently stood out for judgement applied with genuine rigour rather than textbook recall.
I recommend Your Name without reservation for any opportunity in finance, and am confident they will bring the same dedication to future roles.
Sincerely,
has successfully completed an internship of 6 months with Fin Maverick under the Debt Capital Markets program, during the period 01/01/2026 to 01/06/2026. Your Name carried the capstone from first brief to final submission, and showed real commitment, discipline and aptitude.
Never looked at a bond before? Start here. Each week you learn one part of the debt markets, practise it on the same borrower, and hand in one piece of work.
Learn how the bond market works without an exchange, what a bond’s terms say, and how a company brings one to market.
Practice: read a bond’s termsPrice a bond from its payments, quote its return and see how it compares with the government curve.
Hand in: read the creditLearn how rates and credit move a bond’s price, and whether a borrower will still be paying in year six.
Hand in: structure the issueA borrower needs to refinance soon with a weaker credit. Set the terms and bring the bond to investors.
Final: a refinancing caseA bond pays a fixed amount every year. When market rates rise, those fixed payments are worth less, so the price falls. Pick the rate investors want today and see the bond’s price.
Six skills a debt markets team will test you on. Each one starts with a real problem from the job and ends with work you can show.
“You are told to get a price for a bond and there is no exchange to look at. Where do you start?”
“Two bonds from the same company trade at very different prices. The difference is in the documents.”
“A bond has to be priced from its payments, then quoted as the extra it pays over a government bond.”
“Two bonds have the same rating and trade two percentage points apart. Find out why.”
“A company wants to borrow for seven years. Will it still be paying in year six?”
“A refinancing is due in nine months, the credit is weaker and the market window may close.”
You make a real call on a bond deal, see where it goes wrong, then fix it. Here are three of them.
The quote used an old government curve. Reprice the bond on today’s curve and see how far it moves.
Open simulation →Two bonds share a rating but one costs far more to borrow. Find what investors are worried about.
Open simulation →The company wants looser terms. Test which covenant it would break first if profit falls.
Open simulation →You own a bond that pays 7% a year. New bonds just like it now pay 9%. What happens to the price of your bond?
Nobody will pay full price for a bond paying 7% when they can buy a new one paying 9%. So the price of your bond falls until its return matches 9%. Prices and rates move in opposite directions. This one idea explains most of what happens in the bond market.
Two graded milestones and a capstone. Each one is real work you can show.
A company borrowing from the bond market for the first time, similar bonds already trading, and a curve to price against.
The same borrower with a full history, a rating agency to satisfy, a market that has moved, and covenants to agree.
A refinancing due in nine months, a weakening credit, a market window that may close and investors to convince.
Every week follows the same simple loop: learn an idea, try it straight away, use it to make a decision, review it, then show you can do it.
Do I need a finance background?
No. Week 1 starts from zero: how the bond market works and what a bond promises. If you are comfortable with percentages and a basic spreadsheet, the bootcamp teaches everything else.
How much time does it take each week?
Plan a few focused hours each week. Lessons are short and recorded, so you can fit them around college or work.
Is it live or recorded?
Fully self-paced. Lessons, actions, simulations and milestones are all on demand, so you learn when it suits you and replay anything as often as you need.
What do I walk out with?
Work you can walk through in an interview: a bond read and priced, a credit view, a structured issue and a refinancing case. Strong work also earns a certificate of appreciation or a letter of recommendation.
Will this get me a job?
No course can promise that. What it gives you is work you can show and the answers to the questions debt markets teams actually ask. That is what gets you through the interview.
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