For the more experienced traders / investors here: I was wondering what steps you take when you have been assigned to trade a new product (buy-side perspective). I'm not talking about switching from equities to FI but within the asset class (e.g. treasuries to corporate bonds).
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Read up as much sellside research as you can handle on the new asset class. Have lots of meetings with sellside strats and traders. Ask them all for ideas and start dabbling small. Grow as appropriate as you become more familiar/comfortable with the new space.
I would recommend reading the existing literature which blends academic and practitioner perspectives. Good example is Fabozzi Handbook of FI, assuming this is a FI instrument. Also recommend the 'Handbook of Finance' edited by Fabozzi. It's 3 volumes, and it's great. Also, Bloomberg is your friend–get comfortable with the statistical characteristics of the instrument (look at stuff like convexity, yc's, transaction history, etc.) and mentally evaluate how it differs from the instrument you're used to trading. It's all about comfort and familiarity.
How you approach the transition also depends heavily on whether you are a PM or an execution trader, IMO
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