Choosing trading desk: Macro credit vs USD Swaps
Have had a few years of experience in the markets business and got 2 interesting opportunities to move into the trading business. One is the Credit Derivatives Desk, which focuses on macro credit products such as CDX, TRS, Credit ETFs, options, and tranches. The other is on the USD swaps desk, focusing on STIR trading.
Both roles seem like good opportunities with similar pace and ability to take risks. Which role will better allow me to differentiate myself in terms of performance as well as allow me to gain the skillset to eventually transition to the buy-side?
Bump
Probably credit. It opens you up to a lot of different opportunities. USD Swaps will mostly just be a rates desk on the buyside or a macro fund.
What kind of strategies are you able to do with a credit derivs and macro credit background?
Interesting, what are some opportunities you get with credit?
I've seen people get into distressed, active credit trading, LO AM, and MMHFs.
Anyone else care to shed some light on this? Am undecided
Defo defo credit no question about it
Okay sure but what is your reasoning ?
I traded STIR products on the buyside, but haven't traded credit so take everything with a grain of salt. I would imagine Credit would open many more seats for you than STIR would. STIR is also a sleepy market most of the time except for the occasional blow up (repo/xccy funding etc.) I would imagine analyzing credit is more interesting that figuring out if Fed funds SOFR is going to widen a bp. Finally, I think credit is much less of an electronic market than STIR, at this point probably easier to make money.
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