Has anyone interviewed at a global macro shop?

I'm a CS grad student, the role I'm interviewing for requires a STEM masters + proficiency in programming and math as well as basic global macro knowledge to show that you're really interested in the role.  

Obviously I am weaker in the second category, anyone know what kind of questions they would ask?  

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  • Analyst 2 in HF - Macro
Jan 14, 2022 - 3:24pm

Not a quant, but here's what I'd expect someone to know if I were interviewing them (although it depends on the focus of the firm):

  • Developed and emerging market interest rates (short-end + long-end) - PBOC is easing to offset the regulatory crackdown on tech and real estate speculation, Western central banks are looking like they're ramping up to tighten. US short-end rates are higher in anticipation of Fed hikes, but flattening of back-end of the curve implies that the Fed, if they tighten significantly, are probably tightening into a slowdown.
  • Implications of switching from LIBOR --> SOFR
  • How would this tightening cycle in the US differ from the previous one?
  • Inflation: transitory or structural? Why?
  • How has the USD been performing vs. other currencies over the past 12 months? Why?
  • At a high level, what drives changes in interest rates and FX? (no "correct" answer for this one, just thought process)
  • Walk me through how QE works. Is QE inflationary? Why or why not?
  • What sectors in the S&P outperformed last year and why?

That's all I can think of at the moment. Not sure how conceptually deep you want to get with these as it's highly role-dependent. Just knowing US, UK, German, China interest rates, exchange rates, GDP/inflation trends, equity market performance, etc. might be enough if the role doesn't require much more than superficial knowledge.

  • Associate 3 in HF - EquityHedge
Jan 15, 2022 - 2:47am

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