Key Concepts and Skills Know the important bond features and bond types Understand bond values and why they fluctuate Understand bond ratings and what they mean Understand the impact of inflation on interest rates Understand the term structure of interest rates and the determinants of bond yields2 Key Concepts and Skills n Know the important bond features and bond types n Understand bond values and why they fluctuate n Understand bond ratings and what they mean n Understand the impact of inflation on interest rates n Understand the term structure of interest rates and the determinants of bond yields