London Fixed-Income Trading Entry Level Grad Scheme - Final round interviews - Japanese Bank
Dear WSO Gurus and colleagues,
After a successful 1st round Fixed-Income ST phone interview with a Japanese bank I was invited to their London office for a final assessment for a Trading role.
As I was informed that a competency based interview together with a case study and a technical interview were lying ahead I was wondering what that would really entail?
Could you please share your opinion on the following three matters:
If you had a week to prep, what would you emphasize on?
On what these interview might be about - current market dynamics (macro, yields, rates), convexity&duration? What they need a case study for?
Do you think that the Trading jobs in general will be automated, as a current trend is obvious?
I did check quite some of the S&T threads but they were often outdated. Guiding resources or recommendations are welcome (I have covered the WSO and the Vault ST guides).
First phone round included my view on yields, what was going on in Davos, basic spread definitions and calculation and motivation.
Thanks guys and apologies if the threat is repetitive.
entry level?
Yes, apologies for omitting that, my application is for a graduate S&T rotational program.
which part of the curve and/or markets will you be working on? Credit, rates, SSAs, MM, ?
Thank you for answering, and tbh I have no clue, it is a graduate S&T rotational program, but I suppose they won't let me trade 30Yr bonds :) Do you have a good info source on SSAs? Most probably the position would focus on Japanese debt, rates and some of the Emerging Markets products.
That's really really broad so I would focus on: - Duration / Convexity (trading and hedging) - Market movers (CPI, NFP, Fed expectations etc.) - Know what the different spreads are (Z, I, G, nominal etc) - Maybe some credit stuff such as CDS, bond basis (negative/positive) - Try to get more familiar with the curves and how to trade them (steepeners/flateners and butterflies) - Be comfortable explaining what happens in the markets in the past 2/3 weeks and their impact on the fixed income world - Maybe also take a look at IRS
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