Fixed income, or bonds as they're called, are one of the largest financial markets. They're one of the most basic financial assets out there and they've been around for a long time. Bonds are simply IOU's, but with a bit more that you need to know about them. In this lesson you'll learn: • Bond basics: maturity, coupons, covenants. • Valuing a bond using a DCF • Why bond prices fluctuate based on interest rates and credit ratings