rates- exotic or flow trading?

Hey guys

I'm going to be a SA in Fixed Income Trading this summer and I will be on one desk the entire time. All I know is that I will be working in rates and HR wants to know if I prefer flow or exotic. I don't really have a preference right now and I'm just looking for some feedback on what you think is more attractive right now.

 

right now risk aversion pushes more activity towards flow rather than exotic, but a lot of the flow guys (rates and fx) are worried b/c algo systems are reshaping the way flow is done. For the long run, if you have a strong math background i'd say exotic, but for the summer i'd say flow.

congrats on the position, that's a keeper.

 

In good times I would say exotics without a doubt. You would learn a lot more, it would be way more challenging and you could potentially make more moeny depending on the desk.

But now exotics is in bad shape, so I would pick flow as a defense move.

 

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