EM trading – looking for some insights
Hi,
Ana1 in trading at a BB here. Recently got quite interested in EM after reading Willer's book on EM macro and wanted to get a better idea of what the job is actually like.
A few questions for people working in the space:
- What's the day-to-day actually like? I've heard EM Rates can be quite prop/risk-taking oriented. Is that true across banks, and how does it compare with EM FX or Credit?
- I assume it varies quite a bit depending on the countries you cover. Do you specialize in specific countries pretty early on? Any markets that are particularly interesting to trade?
- How much freedom do you actually have to take your own views vs mostly managing client flow?
- How easy is it to move between EM Rates, FX and Credit? Which would give you the best exposure to macro?
- How realistic is it to move from an EM trading seat at a bank to a discretionary macro HF?
- Do you think EM trading is a good long-term career path, or is AI/ automation likely to change the job significantly?
- How different is the job compared to a DM Rates Trader (Bonds/Swaps..) ?
Would be interested to hear people's experiences, especially if you've worked across different desks. Thanks.
