Comments (22)

  • Analyst 1inIB - Gen
2y

How do you feel about the potential proliferation of electronic platforms like MarketAxess? Sure they trade smaller odd lot size now, but can't that creep up in size over time?

Do you think entering fixed income trading as a 22 year old, today in 2020, is a good idea? Not from a job for a few years standpoint, but rather, from a long term career standpoint.

Most Helpful
2y
Bumblebtuna_analyst, what's your opinion? Comment below:

MarketAxess already does block trading direct to customers. No one trades with a bank for execution, they do it for research and liquidity. You know as an account that if you need to sell a 500mm portfolio, that your top coverage bank will dedicate as much time as it takes to get you liquid, and they'll hold your hand the whole damn way. As far as career prospects, as long as you place on the right desk at the right bank you should be fine. Don't expect to be sitting pretty at SMBC trading dollar bonds, you have to go for illiquid products like Muni's, Agencies,HYproducts, etc. Also keep in mind you could place on an underwriting desk, which prices new issues, and they will be in demand until the end of time. I think if you're smart and you work hard you can do well in FICC right now and you'll have job security.

  • 3
2y
siiskm, what's your opinion? Comment below:

In term of headcounts and compensation, fixed income trading or investing have been shrinking for 10 years!

funny thing? There was a MD 8 years ago told all analysts that bank will always find a way. Guess what? He getlaid off5 years ago and couldn't find another job! Because more trading desks are closing instead of hiring. Only top 5 players in the field survive everyone else die! He now operate a restaurant. I guess that's how he find a way, by switch from trading to cooking

  • 1
  • 3
2y
siiskm, what's your opinion? Comment below:

Size of market won't shrink, maybe even grow with so many debt issued this years.

Compensation is shrinking long term wise. Less funds and banks hiring so bank nowadays think your bonus is to have a job. Don't expect too much money wise

  • 3
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  • Anonymous Monkey's picture
  • Anonymous Monkey
  • Rank:Chimp
2y
Anonymous Monkey, what's your opinion? Comment below:

What are your views on theIBindustry then?

2y
Loots, what's your opinion? Comment below:

Fire from the top, hire on the bottom

But also intern return rates are lower this year in general

2y
bankerboy252, what's your opinion? Comment below:

This is completely inaccurate.

Choose the right desk and you'll be fine. Different banks are known for different seats and products. If you go into a regularly way gogo FX or Rates sales seat, your job exists only at a bank and you service clients for super liquid electronic transactions. Now if you enter an OTC market that's more idiosyncratic, as a risk taker, it's different. Individual styles and personalities fit better in diff spots. FICC is strong and will remain that way.

EBITDA rules everything around me

  • 1
  • 1
  • TraderinS&T - FI
2y

I hear that the generalconsensusis to go somewhere illiquidity as its the last to get hit from automation.

I'm starting up at a BB Investment Grade trading desk next year would be interested in hearing some advice.

  • 2
  • InterninS&T - Other
2y

Don't have any advice other than hearing thatIBcredit is the next frontier for automation and probably a good place to move out of unless you're qualified (i.e. have the coding skills) to assist in that automation.

2y
ell29, what's your opinion? Comment below:

agree, all odd lotbond tradingdesks have recently been fully automated. IG credit is next on the chopping block

1y
nrackstar, what's your opinion? Comment below:

No

Array
10mo
Laser44, what's your opinion? Comment below:

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