Basis Trading Book

Recently took a role as a repo trader at a prop shop and it was later disclosed to me that in addition to financing responsibilities I will also be running a basis trading book for US Treasuries. Curious to know what I can expect this too look like and what should I be focused on in terms of training? Any recommendations welcome.

5 Comments
 

Bump, in a similar desk and interacts with repo/stir. The one book I know of on this is "The Treasury Bond Basis" by Burghardt, but it seems to be a bit outdated.

 

Currently halfway through and I highly recommend despite the age - has the most rigorous explanation of the mechanics of the contract and includes useful practical considerations e.g. uncollat financing during delivery and how to avoid the severe punishments of failing to deliver.  

 

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