DCM Knowledge
About to start as a DCM Summer analyst soon, and was wondering whether I should brush up on my bond math. How technical is DCM? Do you have to understand the trading aspects as well?
Are you on the DCM side or the lev fin side? If DCM, much less technical as all of the yields/spreads are pretty much calculated via excel (which you'll have the formula for)
Can't reply to the comment above for some reason, but I will be on the capital market side. I have been reviewing the bond math, and I am worried that I will not be fast enough.
You'll be fine. Did a summer in DCM. They'll teach you all the bond math you need to know and how it applies for your certain desk. In the meantime try to learn broader industry concepts about the desk so that you ask better questions. Are you in corporate DCM, sovereign, ABS, Muni, or CMBS? Whichever one you are, just read about trends in the market. Spread compression or widening? Is supply bigger or is demand bigger for issuance? What are some of the more hot-topic distressed names/deals that are a topic of conversation? Just a few ideas.
hey man. mind expanding on what your summer was like, what you noticed day to day of analysts to be like, what the work entailed and the type of exercises/deliverables analysts became proficient in? much appreciated.
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