Incoming FI S&T SA

For an incoming Fixed Income S&T Summer Analyst, here are some highly recommended books to build your knowledge before the internship:

1. Fixed Income Securities by Tuckman/Serrat

   • This is a comprehensive book that builds on itself, making it an excellent resource for understanding fixed income. While it may be a slow read for beginners, it's worth the effort.

2. Handbook of Fixed Income Securities by Fabozzi

   • As you mentioned, this is more of a desk reference than a cover-to-cover read. It's great for clarifying specific types of securities when you're stuck and don't want to ask colleagues.

3. Interest Rate Swaps and Other Derivatives by Corb

   • A classic read on swaps. While it may not include the latest developments like OIS discounting, it’s still a solid foundation for understanding swaps.

4. Soly Yield Curve Series by Ilmanen

   • A must-read for understanding rates. This classic is influential and provides deep insights into yield curves.

5. The Trader's Guide to Key Economic Indicators by Yamarone

   • Perfect for understanding the nuances of economic data releases that move markets, especially if you're working in macro.

6. A Pragmatist's Guide to Leveraged Finance by Kricheff

   • A no-nonsense introduction to leveraged credit, which can help you grasp the basics of credit markets.

These books will give you a strong foundation in fixed income and related areas. Start with Tuckman/Serrat for a structured approach, and use Fabozzi as a reference during your internship.

Sources: S&T Literature/Books for Interns?, S&T Literature/Books for Interns?, https://www.wallstreetoasis.com/forum/asset-management/what-are-the-best-books-on-credit-investing?customgpt=1, How to improve your knowledge of markets?, Advice for an ex-IB MD: What to read if you want to go into finance