Building Issuer Credit Curves from Bonds: Unlocking Relative Value Opportunities

This webinar explains why building issuer CDS curves from bond prices matters, highlighting differences between bond-implied spreads and Z-spreads, and the added challenges of constructing consistent curves, particularly for callable bonds.

This session explores why building issuer CDS curves from bond prices is critical for identifying relative value and hedging opportunities. We discuss how bond-implied credit spreads differ from Z-spreads, and the challenges involved in constructing consistent issuer curves from bond markets. Special consideration will be given to complexities created by callable bonds.

Agenda

  • Importance of bond credit curves for relative value analysis and hedging
  • Difference between Z-spread and bond implied credit spread
  • Analytical and data processing challenges for building issuer credit curve
  • Additional complexity with using callable bonds
  • External vs internal build

Hosted by – Dmitry Pugachevsky, Director of Research, Quantifi

Date

Wednesday 4th February 2026
3pm GMT / 4pm CET / 10am EST

Registration Closed
Registration is no longer available.

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