PC Liquid Credit (UMM/MF) : What does an Analyst seat actually look like?

I’m currently in Leveraged Finance and I’m realizing I’m  drawn to the markets / investing side. I’m exploring the path into a liquid credit investing seat, ideally at a UMM / MF platform. However, these strategies are very vague and I do have some burning questions that haven't been answered yet on this forum. I am generally confused in how they differ from HY LO strategies and would really appreciate some insights as  I’ve read a few manager descriptions but I’m trying to understand what the job and strategy look like in real life.

For those who’ve got a seat, I’d really appreciate some color on how these funds are run and the following questions:

• Tools / workflow: 

  Do analysts have a Bloomberg, or is the workflow more split across other systems? What does a typical day look like for an analyst/associate? 

  Do you have a coverage universe? 

  How does your day  differ from PC Direct Lending analysts (Unitranche)?

• Hedging / overlays: 

  How do they think about risk when the book mixes fixed-rate HY bonds and floating-rate loans. 

  Do teams actually use CDX / iTraxx/ single-name CDS as part of the process? 

  Do they hedge rates/base rate exposure for HY buckets, or is it mostly “credit-only” risk management?

• What strategies are really used: 

  Is it mainly carry + issuer selection, or do people do a lot of sector RV (inter-sector rotation), intra-sector RV, and capital structure / intra-issuer RV (loan vs bond, secured vs unsecured)?

• Trading cadence: 

  How high is turnover vs a traditional LO HY fund? Are these strategies actively rotating risk, or mostly buy/hold with occasional switches?

• Mandates & books: 

  Do these platforms typically split the book between something like a core yield/carry sleeve and a more opportunistic sleeve? If so, what are typical position sizes / risk budgets for each?

  How low in price do teams typically go before it’s considered a different strategy, especially in leveraged loans, where people often talk about 90 as stressed and 80 as distressed?

• Structured credit:

   Do many of these teams invest in  CLO tranches, or is that usually a separate fund?

• Career path: 

  Finally, is LevFin a good launching pad for this, or do these teams mostly hire from HY research / trading desks / buyside analyst programs?

Appreciate any real-world color (even high level). Trying to calibrate what I should be learning and how to position myself.