Agency MBS - Transition from Originations to Sell-Side Trading?
Hey whats up everyone,
Graduated a top 25 non target state school with a 3.3 (yea, i know). Ive got 3 years of experience in Secondary Marketing at a nonbank originator/servicer, with 2 years actively hedging the pipeline. I also hold a leadership position in my company. I eat, sleep and breathe capital markets as a whole and fixed income in particular. However, Im not satisfied with the originations side of the business and need to make the jump to a street trading gig this year or pursue an alternative path. I know the TBA market and product lineup intimately - from chart technicals to bond math to market fundamentals to position risk management - I've busted my ass to learn as much as possible over the years and develop a skill set on par with the guys I interact with daily on the street.
My questions are:
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how are job prospects for someone in my position? I know fixed income (and especially MBS) market making isn't exactly a burgeoning industry at the moment, with a lot of desks winding down operations over the last year or so. That said, whats the best way to get my foot in the door?
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What is the typical background of junior traders in agency MBS space?
Also - I would love to chat with someone via PM about the daily routine and get their take on the industry via a semi-anonymous dialogue. Phone conversations in the middle of the trading day don't allow for much candor...
Thanks in advance
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