Agency MBS - Transition from Originations to Sell-Side Trading?

Hey whats up everyone,

Graduated a top 25 non target state school with a 3.3 (yea, i know). Ive got 3 years of experience in Secondary Marketing at a nonbank originator/servicer, with 2 years actively hedging the pipeline. I also hold a leadership position in my company. I eat, sleep and breathe capital markets as a whole and fixed income in particular. However, Im not satisfied with the originations side of the business and need to make the jump to a street trading gig this year or pursue an alternative path. I know the TBA market and product lineup intimately - from chart technicals to bond math to market fundamentals to position risk management - I've busted my ass to learn as much as possible over the years and develop a skill set on par with the guys I interact with daily on the street.

My questions are:

  1. how are job prospects for someone in my position? I know fixed income (and especially MBS) market making isn't exactly a burgeoning industry at the moment, with a lot of desks winding down operations over the last year or so. That said, whats the best way to get my foot in the door?

  2. What is the typical background of junior traders in agency MBS space?

Also - I would love to chat with someone via PM about the daily routine and get their take on the industry via a semi-anonymous dialogue. Phone conversations in the middle of the trading day don't allow for much candor...

Thanks in advance

 
Best Response

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