Municipal AM
Haven't seen many threads on municipal investment management at a LO firm so I thought I'd start one
1. What does the typical work of a buyside (active) research analyst focused on municipal bonds look like?
2. 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?
3. What are the implications of low liquidity/tax complexities/local politics when studying muni bonds?
4. 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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