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Fixed Income Mathematics by Robert Zipf
Is this a good book for FI trading ? I've taken a look at the math in it and it doesn't seem that complex at all (and I don't like the fact that, for instance, he just throws formulas there, without deriving them) . I want to have a brief overview of all major fields and products within FI , but I...
Securitization - Good online resources
Hi everyone I'm looking for educational resources to brush up on securitisation (within fixed income). If anyone knows good online resources or textbooks etc. Please list them here. Thanks
How quantitative is Fixed Income?
Talkiing about Fixed Income as a whole, how quantitative is it? I know there are more quantitative products within it (cds, cdo) and less quantitative (high yielding), but on average, how much quantitative knowledge would a trader need? And on a daily basis, how do traders make use of this...
hello tre
bet
Fixed Income Sales - Challenges for 2011
hi all, since the markets are bullish for 2011 I am wondering what the biggest challenges for a fixed income sales man are in 2011. Investors probably might go into equities and disregard European government bonds... what are your opinions?
Global Markets Biggest Movers (3 Jan-7 Jan 2010)
Biggest Increase/Biggest Decrease Indices: NIKKEI +3.1% / Madrid IGBM -3.0% Emerg. Markets Indices: Turkey XU100 +4.2%...India SENSEX -4.0% Commodities: Natural Gas +0.7%...Silver -7.3% FX-Euro: EUR/CHF -0.2% (negative)...EUR/CAD -4.1% FX-US Dollar: USD/EUR +3.7%...USD/CAD -0.6% FX-UK Pound: GBP/EUR...
Market Review (cross-products)
Global Markets Best Performers Review -11 Dec ---Indices--- Week's best: Dublin's ISEQ +3.3% Month's (so far) best: Tokyo's NIKKEI -2.8% (negative) Year's (so far) best: Frankfurt's DAX +17.6% ---Commodities--- Week's best: Copper +2.6% Month's (so far) best: Gold +0.6% Year's (so far) best:...
Signed offer at BB, contact MD about switiching divisions?
Hello Folks. So after my summer in Ops at a BB , I landed a full time offer in deriv ops as a Traders Assistant I accepted in October, however over the past 2 months I have grown restless.. and I am trying to figure out how to move to a FO Fixed Income group During my internship, I worked extremely...
E-commerce desk?
Hi all, I have an interview with a BB for fixed income trading e-commerce desk. But I have little idea on what the e-commerce desk is and what are they doing everyday.... Could anyone give me some insightful idea on what exactly it is? Really appeciate for your inputs!
Bond Duration
I am currently studying for the FRM exam. A number of questions in the past had asked the candidate to compute the duration of eg: newly issued 6% 10-year semi-annual pay bond priced at par. Now, I don't know of a short-hand way of calculating this on the BA II Plus calculator. Is there a short hand...
GS still leads in credit/FI, JPM, BAML, and co. catching up
FROM BLOOMBERG ARTICLE: Since then, its advantage over the second-place bank and over the average of the seven firms has dwindled in each of the last three quarters. In the third quarter, the bank had a 6.8 percent advantage over its nearest competitor, Charlotte, North Carolina-based Bank of...
Buy Side FI Research - How competitive are these positions?
What would entry level FI research be like at a buyside firm, ie mutual funds, etc.? How competitive are these positions? What would one expect in an interview?
Convexity of bonds
Hello Folks, I am reading on convexity of bonds and I am confused on a few of the concepts. A bond with greater convexity is less affected by interest rates than a bond with less convexity. Also, bonds with greater convexity will have a higher price than bonds with a lower convexity, regardless of...
BNP Paribas SuperDay
Has anyone had a superday at BNP yet in New York?? If so, when did you go in? What questions did they ask? Thanks alot. I have been in touch with BNP a lot and I was wondering if they had conducted any superdays already, possibly for different divisions maybe. I appreciate any responses.
Fixed Income Sales and Trading 101
Fixed Income ( FI ) - What Is It? Fixed income is a type of trading that falls under the sales and trading umbrella. Traditionally, fixed income trading meant trading investments that had a fixed income. This means that the borrower paid a fixed amount of money on a fixed schedule. Over time, fixed...
Prudential Capital Group Investment Analyst: private fixed income investment management
i have an interview coming up with Prudential Capital Group in their corporate finance group They do "private fixed income investment management"...private placements..mez...etc, all things private as in not listed on exchanges How is it different than commercial lending/banking, considering they...
how to get exposure to bonds getting destroyed in coming months ?
Any thoughts? Its kinda obvious rates are going to rise soon what is your opinion?
Fixed Income Trade Ideas
In preparation of S&T interviews, I've seen many examples of equity trade ideas that are commonly asked in interviews. If I am interested in Fixed Income, is it probable that they could ask for a FI only trade idea? If so, can you provide an example to illustrate what depth of explanation I need......
Fixed Income Preferences
I am trying to identify the best fixed income trading desks. I'm not looking for league tables or any of that BS . I want to know which desks you think are going to give a first year analyst the best exposure to different areas of the bank. How can one be the most versatile in the FI space? Also,...
Fixed Income S&T
I saw that a lot of the offer rates for SA S&T at the BB 's were low... does that mean that full time recruiting is going to be really bad?
Leveraged Loan s&t
I am curious if anyone on this site has any input (preferably from experience) on the leveraged loan business. I am doing a rotation on the sales desk this fall and am looking for a day-in-the-life type of commentary. I have been reading various articles on the current environment of the business,...
Hedge Fund Compensation in a Banner Year
The question of the day is this.... I work for a relatively small fixed income relative value hedge fund that has had great returns. I've been here for several years and am now in charge of all trading (but we don't trade that much). We all contribute to every aspect of research and modeling and...
VP FI Trader Willing to answer questions
Hey Guys,
FI Research Pre-Start (1styr Analyst)
Hey everyone, Joining a FI rotation soon and was hoping to read up on some research. I have access to Bloomberg, Thomson, etc. and was wondering if any current/experienced professionals have some suggestions on what to read and get up to speed on prior to starting. Thanks!
Starting Out In Fixed Income: Buy Side vs Sell Side
I just landed an entry-level position today in Asset Management (Fixed Income Analyst). Salary is lower than BB entry level salary. What are the differences between this and something similar on the sell-side (Credit Structuring, Credit Risk, etc) in terms of pay / growth / exit opps to HF / PE /...
Fixed Income IB
I recently found an IB that only does fixed income stuff. I was wondering if the differences between an IB of this type and a regular IB are substantial? Are the hours, salary, bonuses, and lifestyle fairly different? Are the exit opps way different? Feel free to offer any other information on the...
CB Credit Analyst to Fixed Income Analyst?
Once I graduate with my Masters in Econ, I'd really like to land a job as a fixed income analyst. The problem is, there's no guarantee that I'll be able to land that job. So I'm trying to come up with other careers, that would allow me the opportunity to transition to fixed income analysis down the...
Transition from fixed income to ER (or Asset Management)
Would working as an investment analyst or an investment specialist in fixed income (primarily corporate investment grade money market securities and government & agency securities) provide meaningful work experiences for ER or Asset Management (equity mutual funds or global macro hedge funds)? Would...
Anyone else shorting Treasuries?
Interesting post on mean street about the inflation vs. deflation debate and the recent flight to quality from equities and currencies into US govt bonds. From what I have seen, I think inflation is unavoidable within a 1-2 year horizon, though i understand why so many investors are piling into...
Fixed Income - Exotics and Hybrids
Anyone have any info about this group at any of the BB 's? What they do, deal flow, etc.
FI trading at "the private bank"??
Does anyone here know anything about fixed income trading at the 'private bank' division of a top BB ? How different would this be from a more traditional institutional trading job? Are the private wealth advisors the 'sales-people' who would send you the trade orders? Is this even considered an S&T...
Please Review My Resume - Primarily looking for S&T positions
Please give me some feedback on my resume, I'm primarily looking at S&T positions but also applying to some places as an analyst. It's got me some interviews so far but I'm hoping I can tune it up and make it more effective as I continue my job search. Thanks in advance....
Convertibles Bonds.
Hey guys, I have a question. Are convertibles securities (i.e. convertible bonds ) rated like normal corporate bonds? Thanks for all the replies.
Derivatives vs. Fixed Income vs. Equities Trading
So, typically derivatives > FI > equities in terms of quantitative skills demanded. But what about in terms of median comp (roughly). Is one generally more lucrative than the other?
BOND QUESTION
Ive got a bond question! If you have 2 bonds: 1) a corporate bond with 5 years to matuiry 2) a Government bond with 10 years to maturity They are identical in all other ways. Which do you pick and why?? i was thinking of answering something like this: the bond with the lower maturity has less...
Hedge Fund Interview - Advice for fixed-income HF interview?
Does anyone have any advice they can give for a fixed-income hedge fund interview ??? Its an entry level position as an investment analyst. Are there certain questions i can expect?? Thanks :)
Best area to focus on in trading...
If I would eventually like to transition to a hedge fund (from a bank), would being in equities or fixed income be better? I know it depends on the nature/strategies of the firm, but do trading-focused HFs usually have both equity and FI traders? kind of a dumb question but i just wanted to have...
Fidelity Structured Products Research Associate
I was just wondering if anyone had any interview experience/or professional experience with Fidelity - or more specifically their Fixed Income Structured Products group. I have an interview with them coming up and from what they told me I have a bunch of interviews in the morning and then if I do...
What am I doing?
I was fortunate enough to land a sophomore internship this summer for the investment section of a very large insurance company (the investment group manages ~100 billion) in fixed income - credit structured assets. When I was interviewing there were a lot of different people I talked to (municipals,...
Future of Sales
Hello. I was wondering what you all think of the future of sales in Investment Banks/Broker Dealers. More specifically where do see the future of vanilla equity/fixed income sales going over the next 5/10 years. Is it possible that with the increased use of technology in sales and trading that the...
Fixed Income Resources
I was hoping you smart folks could recommend me some solid fixed-income resources. Basically, I know very little about fixed income valuation/analysis, but I'd like to change that. By resources, I mainly mean books (textbooks or otherwise), but I'm also interested in any websites, articles,...
Best Grad Degree(s) For Fixed Income Research
If someone wanted to be a fixed income research/financial analyst, and eventually a portfolio/money manager within fixed income, which grad degree(s) are best? I ask, because I recently found out that fixed income research is more technical than equity research , so I've wondered if this changes the...
Good Fixed-Income investing book?
What are some good fixed-income investing books? I have the CFA curriculum, which provides a wealth of information, but I'm looking for something a little less academic. Topic of interest include: distressed debt investing, ABS and other structured products
Leaving ibanking for FI trading at BB?
I currently am an analyst in a boutique investment bank that offers plenty of great exit opps. However, I recently just received an offer in FI trading at a top-tier BB . I’ve always leaned towards trading but I accepted the ibanking offer feeling it was the right choice with what has gone on in...
SA Advice Urgent: BarCap S&T vs CS FI S&T
Great choice to make, but I have to do it in the next couple of hours. I visited both places yesterday but was wondering if anyone else had any additional advice/suggestions: I'm interested in FI , BarCap says they really want me to come, am close with one senior person. People are awesome at both...
Credit Suisse Fixed Income Desks
I received an offer for a Summer Analyst with Credit Suisse Fixed Income. The program is rotational in nature, and they actually let us have a say in which desks we are assigned to. I am aware that CS is generally regarded to have one of if not the best High Yield/Distressed Debt trading desks on...
MS Asia FID interview questions
I have a final round interview coming up with MS Asia FID in Hong Kong. What kind of questions, specially technical questions, will they ask me? Other than knowing interest rate curves and bond pricing, what else should I know? I have heard they will ask brainteasers.. will they also interview me in...
Muni Trader Interview
I have a 1st round phone interview tomorrow for an entry level muni bond trader position. I was wondering what kind of questions I might expect outside the standard S&T interview questions, as I'm not quite as familiar with munis as I am with other fixed income products. Thanks for any advice.
TOP desk for Sales
Solely from a compensation point of view, what desks would be the more interesting to work on ? Type of product: How would you rank the following ? Fixed Income / Equity / Fx / Commos Clients: Also what kind of client is it more profitable to work with ? Instits / Corpo / Hedge Funds / Asset...
How are prospects for Fixed Income in Asia?
I know FI is pretty much dead in US and Europe, but both now and in the near future, is Asia any better? How are the Asian credit markets? Help appreciated. Thanks!
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