Bond Investment Mentor
Chris Nelson, CFA 58 episodes Nov 2, 2026
Bond Investment Mentor is an objective source for understanding fixed income securities and portfolio management for financial institutions. Each week, host Chris Nelson, a 30-year banking and investment veteran, covers fixed income investing and portfolio management topics. The podcast also discusses the latest news and developments in financial markets. It is aimed at listeners seeking practical insight into managing fixed income investments.
Episodes
Time for Investment Horror Stories
Welcome to Bond Investment Mentor! In this episode, Chris shares some investment "horror stories" and the lessons to be learned to help you avoid a similar fate in your institution's investment portfolio.In this episode:Federal Reserve & market updateFour investment horror storiesCase of the vanishing bond callMystery of the non-floating floaterTale of the missing yield spreadThe incredible di
Higher Rates and Choppy Markets - Now What?
Welcome to Bond Investment Mentor! In this episode, Chris addresses the question he's been hearing from community bankers recently: rates are higher, markets are choppy, so what do we do now? He shares a three-step strategic process for making confident investment decisions when market conditions feel uncertain.In this episode:What should community bankers do with investment portfolios now?Market
Muni Due Diligence Made Simple
Welcome to Bond Investment Mentor! In this episode, Chris presents a simple, practical approach to municipal bond due diligence for community financial institutions.
In this episode:
Returning to Pacific Coast Banking School (LEARN MORE)
Market & Fed update (2:22)
The return of the term premium (4:03)
Municipal bond due diligence made simple (9:16)
Two essential questions when evaluati
Are You a Portfolio Manager or a Bond Collector?
Welcome to Bond Investment Mentor! In this episode, Chris examines the difference between "portfolio managers" and "bond collectors." He also discusses how to tell the difference, and how it's the most important step you can take to effective investment management.
In this episode:
Market update (2:00)
Portfolio managers vs. bond collectors (4:18)
What makes your institution's investments
Managing Portfolio Duration
Welcome to Bond Investment Mentor! In this episode, Chris discusses investment portfolio duration management and why it matters for community financial institutions. He also shares a four-step process to help you manage investment duration systematically.
In this episode:
Market & Fed update (2:15)
Changing Fed communications (4:29)
Managing portfolio duration (10:19)
The two definitions
It's Time for a Mid-Year Checkup
Welcome to Bond Investment Mentor! In this episode, Chris discusses the importance of a periodic strategic check-up for your institution's investment portfolio. He also shares six key checkpoints to help you evaluate the portfolio's current position.
In this episode:
Market & Fed update (2:08)
Update: FASB amendment to allow hedging HTM securities (6:44)
A Mid-Year Strategic Portfolio Check
Decoding Bond Defeasance
Welcome to Bond Investment Mentor! In this episode, Chris explores what bond defeasance is, how it works, and how it affects you as an investor. He also discusses how to identify and analyze defeased securities.
In this episode:
Market & Fed update (1:34)
Understanding Defeasance (9:19)
How defeasance works
Municipal bonds & defeasance
Commercial MBS & defeasance
Analyzing defe
Understanding Step-Up Agency Bonds
Welcome to Bond Investment Mentor! In this episode, Chris breaks down callable step-up agency bonds. He explains how these agency bonds work and how these investments could deliver less than you expect. Chris also provides a framework for analyzing step-ups using Bloomberg screens and deciding whether they actually make sense for your institution's portfolio.
In this episode:
Market & Fed update
Callable Agency Bonds: Know the Trade-Offs
Welcome to Bond Investment Mentor! In this episode, Chris explores callable agency bonds and examines what you're actually trading away when you buy these securities. He walks through how callable bonds work, the three main call structures you'll encounter, and the portfolio-level implications of giving up control to the issuer. You'll also learn which Bloomberg screens to use when analyzing calla
Before You Buy: Your Pre-Purchase Due Diligence Process
Welcome to Bond Investment Mentor! In this episode, Chris discusses the importance of establishing a solid investment pre-purchase due diligence process. He shares a four-question framework to help build a system that works both before and after the investment purchase.
In this episode:
Fed & Market Update (2:08)
Visa Class B repurchase offer (Visa announcement) (13:01)
Your Pre-Purchase Due D
When Did You Last Really Look at Your Investment Policy?
Welcome to Bond Investment Mentor! In this episode, Chris explores why most investment policies are built to fight the last crisis and how that reactive approach leaves institutions exposed to emerging risks. He shares a practical six-step approach for transforming your investment policy into a forward-looking strategic tool.
In this episode:
Market & Rate Update (1:37)
NEW! Sub-Debt Reference
Investing in Bank Sub-Debt
Welcome to Bond Investment Mentor! In this episode, Chris breaks down bank subordinated debt as community banks face a wave of refinancing offers. Learn what makes sub-debt riskier than typical bonds, the policy foundation required before investing, and how to perform independent credit analysis on these securities.
In this episode:
Market & Rate Update (1:32)
Follow-Up Investments/Liquidity Di
Cash Flow Is King
Welcome to Bond Investment Mentor! In this episode, Chris explores why strategic cash flow management should be your number one liquidity tool for managing the investment portfolio. Learn how to move from reactive scrambling to proactive liquidity planning, while protecting portfolio income and performance.
In this episode:
Federal Reserve Update (1:13)
FASB Comments on Hedging HTM Securities (
The Return of Prepayment Risk Management
Welcome to Bond Investment Mentor! In this episode, Chris discusses prepayment risk, why it may be making a comeback, and how to manage this risk in investment portfolios.In this episode:Celebrating five years of BIM1 (1:06)Bond market update (2:40)Bond rally and interest ratesFed Chair Powell commentsThe importance of "strategic patience"What's happening with the GDPNow model? (7:30) - Check out
The Power Of Strategic Portfolio Management
Welcome to Bond Investment Mentor! In this episode, Chris explores the power of strategic portfolio management and why it's essential for community financial institutions in today's uncertain environment.In this episode:Upcoming training (2:10)GSBC Executive Development InstituteCommunity Bank Performance InstituteLearn MoreFederal Reserve update (4:00)FOMC decisionBowman nomination for Vice Chair
Rates Are Changing, What Should We Do Now?
In this episode:FOMC decision (1:35)BTFP is officially ending (6:09)Discount Window proposal (7:55)Federal Reserve info on Discount Window collateral (Click here)Rates are changing, what should we do? (11:23)Upcoming investment strategy workshop (LEARN MORE)Two investment training opportunities (22:37)Bond Basics course (LEARN MORE)Community Bank Investments School (CBIS) (LEARN MORE)If you have q
Let's Get Ready for 2024!
In this episode:Bond market review (2:14)Federal Reserve update (4:59)BTFP expirationFOMC membership changesPortfolio preparations for 2024 (10:12)Join us at the Fixed Income Institute (LEARN MORE)If you have questions about anything covered in this episode, please email me at Chris @ BondInvestmentMentor.com.Do you know someone who could benefit from this information? Please share this episode an
The Importance of Proactive Balance Sheet Management
In this episode:Special Guest: Darnell Canada from Darling Consulting GroupJoin us at the Fixed Income Institute (LEARN MORE)1-on-1 mentoring - Professional development for community bankers (LEARN MORE)If you have questions about anything covered in this episode, please email me at Chris @ BondInvestmentMentor.com.Do you know someone who could benefit from this information? Please share this epi
Diving Into The World of Derivatives
In this episode:Special Guest: Bob Newman from Chatham FinancialJoin us at the Fixed Income Institute (LEARN MORE)If you have questions about anything covered in this episode, please email me at Chris @ BondInvestmentMentor.com.Do you know someone who could benefit from this information? Please share this episode and podcast with them!You will find more articles, tips, and resources about fixed-i
Revisiting the Rate Setting Playbook
In this episode:Special Guest: Neil Stanley from The Core PointPressure Gauge for Bank Funding (Click here to try it!)Join us at the Fixed Income Institute (LEARN MORE)If you have questions about anything covered in this episode, please email me at Chris @ BondInvestmentMentor.com.Do you know someone who could benefit from this information? Please share this episode and podcast with them!You will
The Ultimate Investment Resource for Community Bankers
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:Results of FHFA review of FHLB (3:53) (Download FHFA Report)The Fixed Income Institute: The Ultimate Investment Training for Community Bankers (9:51) (LEARN MORE)If you have questions about anything covered in this episode, please ema
Shaping Future Bankers: A Look Inside Pacific Coast Banking School
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:Review of bond markets & economic data (1:12)July MBS prepayment report (2:04)Investment Strategy Workshop in September! (3:31) (Learn More)Guest: Gretchen Claflin, Pacific Coast Banking School (5:58)If you have questions about anythi
The Basics of SBA Securities
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:Review of bond markets & economic data (1:43)Coming Up! - GSBC Economic & Investment Forum (5:11) (Learn More)Past episodes on fixed-income security types (6:30)Municipal bonds (Click Here)Commercial MBS (Click Here)The basics of SBA
The Basics of Commercial MBS
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:Bond market review (2;34)EMMA - A free muni bond resource (3:51) (Learn More)The basics of commercial mortgage-backed securities (7:38)What are commercial MBS?Call or prepayment protection benefitsAgency CMBS typesFannie Mae - DUS, AC
The Basics of Municipal Bonds
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:Bond market review (1:59)The latest MBS prepayment data (5:26)The basics of municipal bonds (6:51)What are municipal bonds?Benefits of muni bondsTypes of municipal bondsTaxable-equivalent yieldsRisks & other considerationsCheck out th
The Four Levels of Risk
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:Bond market review (1:43)A follow-up to last week's episode (3:56)The four levels of risk (6:32)If you have questions about anything covered in this episode, please email me at Chris @ BondInvestmentMentor.com.Do you know someone who
What to Do When You're Not Investing
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:Q2 Bond market & interest rate update (2:12)The end of LIBOR (5:43)Question: What are make-whole calls? (7:13)Five Tips - What to do when you're not actively investing (10:33)If you have questions about anything covered in this episod
Building & Managing a Bond Ladder
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:Federal Reserve update / Powell comments (2:20)Texas Permanent School Fund update (5:58)Building and managing bond ladders (8:00)If you have questions about anything covered in this episode, please email me at Chris @ BondInvestmentMe
The Effect of Interest Rates Then and Now
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:What's a virtual treasurer? (1:23)Special Guest: Neil Stanley (2:43)Comparing historical and current interest ratesEffect of rates then and nowInvestmentsDepositsLiquidity and deposit managementIf you have questions about anything cov
Information Overload & Cutting Through the Noise
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:New Fed borrowing program and free guide (4:01) (DOWNLOAD HERE)Texas PSF update (8:29)Question: Managing information overload (11:06)Your "virtual Treasurer" (25:27)If you have questions about anything covered in this episode, please
Takeaways from the Silicon Valley Bank Failure
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:Silicon Valley Bank: What happened?Article by Marc Rubinstein (CLICK HERE)7 Takeaways for community bankersIf you have questions about anything covered in this episode, please email me at Chris @ BondInvestmentMentor.com.Do you know s
Where to Focus Your Investment Efforts in 2023
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:FOMC decision (2:13)Economic data review (4:27)Employment reportEmployment cost indexISM manufacturing & service indicesMBS news: Lower 15-year mortgage issuance (8:02)Question: What do you do? (9:52)Where to focus your investment e
Why Every Financial Institution Needs an Investment Strategy
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:Year-end market & interest rate review (2:21)Federal Reserve news (6:29)FOMC minutesKashkari comments (ARTICLE LINK)This week's economic data (11:27)Employment reportISM Services IndexWhy every financial institution needs an investmen
2022 Year-End Roundup
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:FOMC decision & market reaction (2.04)Changes to FOMC membership (4:57)Federal Reserve comments on unrealized investment losses & tangible capital issues (6:35)New conforming loan limits for residential mortgages (10:02)Updated guidan
Investment Hotspots in 2022 and Looking Ahead to 2023
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:Coming in January! Building an Investment Strategy for Your Financial Institution (LEARN MORE) (1:44)Conversation w/ Darnell Canada from Darling Consulting Group (5:45)The issue of negative tangible equity & FHLB fundingUsing HTM vs.
The Basics of Hybrid ARMs
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:FOMC Rate Decision (1:36)Bond Market Review (5:43)6 Tips to Managing Through Uncertainty (8:16)The Basics of Hybrid ARMs What are hybrid ARMs?How are they different from other mortgage securities?Understanding how hybrid ARMs behaveMa
Investment Conversations with the Board
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:Quarter-end market review (2:29)Moody's report on municipal stress test results (7:43)Article on results (DOWNLOAD)Full report (DOWNLOAD)Listener question: Modified vs. effective duration (9:32)Investment conversations with the board
Upside Down - The Inverted Yield Curve
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:Federal Reserve & bond market update (3:01)What's the difference between WAL and duration? (8:07)Texas PSF program approaches its maximum capacity (10:33)The Inverted Yield Curve (13:27)What is an inverted yield curve?Understanding th
The Return of Liquidity Management
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:A question about yield tables (2:40)Bond market and economic review (6:15)The return of liquidity management (9:16)Heading back to the future w/ liquidity management3 Factors to successful liquidity managementThe investment portfolio'
Managing Optionality in the Investment Portfolio
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:Bond market and economic review (2:06)Federal Reserve update (4:31)July MBS prepayment report (8:25)Managing option risk/optionality (10:27)What is option risk? How do options work? 2 types of optionality How option risk affects secur
Navigating the Bloomberg Yield Table
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:Jerome Powell on Capitol Hill (1:49)Bond market review (4:22)RESOURCE: Bond market holiday calendars (7:31)SIFMA market calendar (DOWNLOAD)Chatham Financial market calendar (DOWNLOAD)Navigating Bloomberg yield tables (9:30)What are y
5 Portfolio Management Tips for Trying Times
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:Chris makes an apology - Pre-FOMC drama (1:34)Federal Reserve rate decision (5:47)Highest mortgage rates since 1987 and prepayment/extension risk (10:27)5 portfolio management tips when the markets are dicey (like now!) (12:27)Free Do
Beware the Muni De Minimis Rule!
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:Economic & Market Review (1:42)Inflation reportConsumer sentimentConsumer creditGDP Now (Q2)MBS Prepayment Data (6:58)Understanding the De Minimis Tax Rule (11:03)What is the de minimis rule?The de minimis threshold priceTax treatment
Understanding Fed Funds Futures
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:May Market review (3:05)Fed Initiates Quantitative Tightening 2.0 (6:59)Understanding Fed Funds Futures (10:15)NEW! Bond Basics Online Investment Course (18:44) (Learn More and Register Today)If you have questions about anything cove
Investment Training from Graduate School of Banking at Colorado
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:When did Treasury yields last rise as much as in March? (1:59)Review of March FOMC minutes (4:08)Latest MBS prepayment data (7:32)Guest: Michael Stevens - President, Graduate School of Banking at Colorado (9:25)NEW! Bond Basics Onlin
Ouch! Those Unrealized Losses!
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:Recent Federal Reserve Moves and Comments (2:12)Bond Market Reactions and Treasury Yields (5:16)Unrealized Investment Losses (8:46)What do the losses represent? (9:36)What's the impact on financial institutions? (12:47)What can a comm
What Is Bond Convexity?
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed income investments.In this episode:What Is Bond Convexity (2:01)Federal Reserve Update (10:01)William Dudley ArticleListener Question: Bull and Bear Steepeners and Flatteners (12:29)1-on-1 Mentoring Slots Available! (Learn More and Apply Today)If you have questions abo
What Is Bond Duration?
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:Understanding Duration (1:40)The two definitions of durationAccounting definition (Macauley duration)Portfolio management definition (Modified duration)Duration as a portfolio management tool3 factors that influence durationEffective
Yield Spreads and Yield Curves
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:Understanding Yield Spreads (1:36)What is yield spread?Components of yield spreadEffect of market conditions on yield spreadYield Curves (11:48)What are yield curves?What is yield curve slope?Types of yield curve shapes3 factors that
Understanding Bond Yield
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:Recent FOMC decision - it's almost Taper Time! (1:41)Steve Goldstein article (Marketwatch)Bloomberg tip: Using the Paydown Information (PDI) screen (7:10)For more information: BondInvestmentMentor.com/PDIEffect of SBA rule change on
Managing Broker-Dealer Relationships
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed-income investments.In this episode:Monthly prepayment report update (3:13)Federal Reserve watch (5:14)What’s the timeline for tapering and rates?Article by Bill DudleyPotential changes to Fed Board of GovernorsVoting member rotation at Federal Open Market CommitteeGrad
A Game of Risks
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed income investments. In this episode:A Shift in How the Fed Approaches Monetary PolicyTracking the Types of Prepayment in a Mortgage Security Voluntary vs. Involuntary PrepaymentBloomberg's Collateral Performance (CLP) ScreenAn Update on Online Courses Coming Soon!Join
The Wonderful World of CMOs
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed income investments. In this episode:Review of Economic & Finance NewsJune MBS Prepayment ReportReview of FOMC MinutesPodcast Series on LIBOR Podcast Series (Blog Article)Podcast: Bloomberg's "Odd Lots"Exciting News: Online Courses Coming Soon!Join the Waiting List fo
Mortgage Securities: Prepayment Risk
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed income investments. In this episode:Review of Economic & Finance NewsMay retail salesFed Chair Powell's Capitol Hill appearancesWeekly jobless claimsDoes Anyone Invest in Treasuries Anymore?MSRB Weekly COVID-19 Disclosure Summary Link to Summary & Disclosure Spreadshe
Mortgage Securities: An Introduction
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed income investments. In this episode:Review of Economic & Finance NewsJune Federal Open Market Committee (FOMC) MeetingYield Curve Control (Brookings Institution Article)May Employment Report (Joe Weisenthal Article)NBER Recession AnnouncementIntro to Mortgage-Backed S
Now What?!
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed income investments. In this episode:We review everything that has been going recently with the economy and financial marketsFour simple questions to help you manage your investment portfolio in these challenging marketsIf you have questions about anything covered in t
Hey, I'm Back!
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed income investments. In this episode, I provide an update on where I’ve been and what I’ve been up to recently. I also share some important announcements and exciting developments!Tune in to discover:An important decision that I’ve made that changes everythingThe laun
Managing Your Two Investment Portfolios
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed income investments. In this episode, I want to share with you one of the earliest investment principles I learned that helped make me a more effective portfolio manager. Tune in to discover:What my investment decision making originally looked likeHow a shift in my pe
First Things First
Welcome to Bond Investment Mentor! This is a podcast dedicated to helping community financial institutions master the art of fixed income investments. In this first episode, we'll start at the beginning with an introduction. I'll also discuss the first thing you should consider when it's time to make decisions about investment strategies for your portfolio.Tune in to discover:My origin story and b
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