Hi, I'm an incoming S&T intern for this summer at JPM/GS/MS (on the FICC side). I know that the bond market currently isn't doing too well overall, but what desks within the FICC space are doing the best right now?
Based on the most helpful WSO content, here are some insights into FICC desks and their performance:
JPMorgan (JPM): JPM is noted for its strength in credit, rates, and FX. These desks are often regarded as top-tier within the FICC space, and they tend to attract the best talent. If you're looking for a strong desk with a good reputation, these areas at JPM could be a solid choice.
Goldman Sachs (GS): GS is recognized for its expertise in rates, equities, and commodities. While it may not be as strong in FX and credit compared to JPM, its rates and commodities desks are highly regarded.
Morgan Stanley (MS): While specific desk strengths for MS aren't highlighted in the context, MS is generally competitive in FICC, particularly in areas like rates and structured products.
Key Considerations:
Market Cycles: Desk performance can vary with market conditions. For example, during recessions or downturns, rates desks often perform better due to increased activity in government bonds and interest rate products.
Personal Interest: It's crucial to choose a desk that aligns with your interests and strengths. As one WSO thread suggests, chasing "prestige" or "hot desks" isn't always the best strategy. Instead, focus on what you enjoy and where you can excel.
If you're aiming for a return offer, prioritize desks with strong reputations, consistent performance, and a culture that fits your working style. Good luck this summer!
Impossible to tell highly dependent on the firm and its personnel needs. Generally speaking macro desks tend to do better in higher vol environments. Honestly I’d look for desks where somebody recently left or an analyst was recently promoted. As is always the case you will do best on the desk where you like the people/find the product interesting. Trying to optimize for who might be hiring is pretty hard to do.
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Based on the most helpful WSO content, here are some insights into FICC desks and their performance:
JPMorgan (JPM): JPM is noted for its strength in credit, rates, and FX. These desks are often regarded as top-tier within the FICC space, and they tend to attract the best talent. If you're looking for a strong desk with a good reputation, these areas at JPM could be a solid choice.
Goldman Sachs (GS): GS is recognized for its expertise in rates, equities, and commodities. While it may not be as strong in FX and credit compared to JPM, its rates and commodities desks are highly regarded.
Morgan Stanley (MS): While specific desk strengths for MS aren't highlighted in the context, MS is generally competitive in FICC, particularly in areas like rates and structured products.
Key Considerations:
If you're aiming for a return offer, prioritize desks with strong reputations, consistent performance, and a culture that fits your working style. Good luck this summer!
Sources: https://www.wallstreetoasis.com/forum/trading/what-are-the-top-volatility-trading-desks-at-jpm-gs-and-what-differentiates-them?customgpt=1, A Response to "Which desk is best?" Type Questions... Please Read Before Posting, HELP: The Future of the S&T Job Market and Selecting the Right Desk, Top Sales & Trading desks, FICC sales trading desk
Impossible to tell highly dependent on the firm and its personnel needs. Generally speaking macro desks tend to do better in higher vol environments. Honestly I’d look for desks where somebody recently left or an analyst was recently promoted. As is always the case you will do best on the desk where you like the people/find the product interesting. Trying to optimize for who might be hiring is pretty hard to do.
This is a horrible attitude to have, you can't optimize desk choice beyond a meaningful amount. I learned my intern year and so will you.
Vel nisi et cumque facere harum atque. Perferendis laboriosam corrupti delectus voluptatum delectus iure occaecati.
Voluptatem praesentium accusantium voluptatem similique et. Vero dignissimos quod qui quibusdam iusto. Ab qui tempora minima ut necessitatibus. Totam sunt iste cupiditate perspiciatis.
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