Hi all.
Currently recruiting for IB, but after my 2 year analyst stint would like to join a macro HF. I’ve always been fascinated by how changes in economic climate affect asset prices. Thinking ahead here, but want to study up on the topic in the meantime.
Anyone have any book recommendations or any resources related to the topic?
Thanks in advance!
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You wouldn’t want to recruit for IB if you wanted macro. The best exit into macro HF would be to place on a BB trading desk on a macro product or be a macro strategist at a bank.
Try to move to rates & fx. IMF has a great econ primer which is what you'll want. Watch a lot of econ videos on YouTube (especially that from Nobel laureates, central bankers, or IMF people). Good macro traders are very plugged in, and their analysts typically build econometrics models from scratch *cough* like mine *cough*. Understanding asset pricing is also very important. These concepts are rooted in economics and finance, which you will want to brush up on. Start thinking like a macro trader too: How does central bank policy impact FX rates, real output, and inflation? How do those spillover into interest rates and the shape of the yield curve? What is the result in equities and commodities?
Some good references:
- FX Derivative Trader School by Giles Jewitt & Dirk Willer's book
- Refresher on Real Sector & Generating a first GDP Forecast.pptx (imf.org)
Could you share link to the imf econ primer? Thanks
Economic-concepts-explained.pdf (imf.org)
Would you mind if I message you? I have a few questions about career progression from my current seat and would love to hear some feedback.
Go ahead.
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