Municipal AM
Haven't seen many threads on municipal investment management at a LO firm so I thought I'd start one
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What does the typical work of a buyside (active) research analyst focused on municipal bonds look like?
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Are there any opportunities for distressed plays in the municipal space (and possibly transition to corp HY, structured credit) or is it more like looking at IG credit?
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What are the implications of low liquidity/tax complexities/local politics when studying muni bonds?
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And finally what is the early career comp and exit ops like relative to other credit research divisions, and is this a good place to be long term with more inflows to ETFs and such?
bump, anyone?
Slow / sleepy market relative to corporates (unless you’re focused exclusively on high yield / distressed situations in the muni mkt) but great WLB and comp can be solid given the hours / stress / career risk
Is it a somewhat transferrable skillset for exit ops early career eg. to securitized credit / ABS, HY/distressed corporate, maybe even rel val. HFs?
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