Longevity within S&T
With the rise of automation, which divisions within S&T seem to be showing the most promise looking forward?
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Another one of these lol...
Distressed debt, structured products, electronic trading, eq derivs, any team working on automation rather than being automated
if you actually want longevity in S&T, working for people who take an interest in you and have political clout is way more important that the desk. To rise in S&T, you have to stop trading and it becomes a political and management style role. The days of the head of rates punting $1mm a point in his management book are over.
If you want a pure career in the market, you need to go to a fund. MD's at banks are politically skilled people running desks, and the majority of risk run at banks is done by VP's and Directors.
this is not entirely accurate...the head of the US Govt desk at each of the big banks is still swinging 500k-1mm/bp of risk on a regular basis.
Customers are still asking for bid/ask on 1bln 10yr notes...300mm 30yr bonds....so if you are not already prop trading that kind of size, you'll never be able to handle that kind of flow
Munis ain’t going anywhere - it’s a deal driven desk, trade a lot of new issue off the break, lots of new issue swap trades etc. not the most “lively” market - but as Kawhi Leonard once said - “bored man gets paid”
Lmao... it’s ‘board man’
Now that is fucking hilarious
Hey, you hear what you choose to hear! But touche - you're right. Still stand by what I said though, in S&T you want to either be in a super sexy fast paced desk - think MBS trading or HY credit trading, or a "slower boring" desk that is new issue driven like munis or ABS.
Haven’t you heard? S&T is dead!!!!!
Use the search function breh...some of us that wrote quality posts back in the day need those silver banana dopamine hits.
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