Leveraged Loans (Primary, Secondary markets) and Bond trading/asset management

Hi all,

Hopefully you can share some knowledge with the community. Looking for some guidance that will help me progress in my career and move in to trading leveraged loans and other fixed income products.

I supported the par and distressed trading desks at a BB for a few years (but I was at a satellite office so I didn't get much exposure to the trading desk, I was in operations), but since then ive moved to a credit fund with increasing AUM where I sit on the desk with the PM's, and Ive learnt a lot more about the market from being closer to the execution side and decision makers. This has made me much more motivated to move to the trading side.

One of the C-level execs who is essentially who I report in to said that he could see me moving in to credit research if I study the CFA in a few years. I positioned myself as a technical guy in interviews (Excel, VBA knowledge etc.) which I am, but actually im more of a people person.

Q's

  1. What are the best resources for learning the technical side of trading leveraged loans? I've got The handbook of fixed income securities by Fabozzi, Distressed debt analysis book and Rosenbaums investment banking book. Appreciate if any more resources can be shared. Ways to brush up on credit skills?

(Also I have access to the credit teams models and investment recommendation reports)

  1. What are the best news resources? I read things like ZH, Bloom, Fortune term sheet, are there any good news sources for fixed income traders? What kind of info do they look for? How can I develop intelligent trading ideas from these sources?

  2. What's the market outlook for the next 5-10yrs? Confident the market will still be growing but worried about putting sweat equity into making this move then blockchain coming in and fucking me up.

  3. Im improving my soft skills tremendously. I'm constantly speaking with our counterparties on the phone, building relationships and understand that a lot of the trading is relationship driven as well. The PM's seem to be out for dinner with clients almost every night. What can I do to show im really capable of being put infront of clients? What would you look for? I'm already a stark contrast to my other ops colleagues who are quite timid (not in a negative way). Good relationship with all members of the team - PMs, credit research, investor relations, corp dev, ops and the C-levels - its a lean team.

  4. Another ops guy moved in to the PM team, I think mostly due to his Lvl 3. CFA, he was on a temp ops contract and moved about 6 months later. Should I chase a professional qualification or should I concentrate on my output at work? Confident I can work exceptionally hard to differentiate myself rather than studying.

Appreciate all help.

Best regards,

Tommy

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Comments (5)

Jun 23, 2018 - 4:38pm

Hi TommyGunn, check out these resources:

  • Sell-Side Equity Trading v Fixed Income flow traders at these firms? Why can't clients of the sell side like asset managers, hedge funds ... I understand it, work in conjunction with the sales teams who are speaking to clients (hedge funds, asset ... communicates to the flow trader that hedge fund x wants to buy x amount of bonds at price y and the flow trader
  • Fixed Income Sales and Trading 101 traditional products (bonds and loans, notably). Fixed income involves the trading of these more traditional ... Fixed Income (FI)- What Is It? Fixed income is a type of trading that falls under the sales and ... products, as well as newer products. Fixed Income Sales vs
  • Entry-level Fixed Income Research Associate interview href="https://www.wallstreetoasis.com/guide/hedge-fund-interview-questions">Interview at a HF ... I've got an upcoming fixed income research analyst position coming up, I'm in college so ... background or work experience in fixed income. This is the job description:-The Fixed Income Research ...
  • The Iceland bet- How some hedge funds made huge money Alternative Asset Management, Och-Ziff was there as well. Picture 4: Ten largest hedge fund creditors of the ... collapsed, creditors needed to get rid of their almost-worthless bonds and that's when the hedge funds ... assets, including the Islandsbanki bank. Yes, the hedge funds gave Iceland's second largest bank
  • Fixed Income Credit Research Analyst- Interview help Hey all, So i have an interview on monday for a Credit Research Analyst in a Fixed Income ... Income securities nor do I have too much knowledge. I want to ace this interview been in the job market ... as well. Thank you for your help in advance. fixed income Interview help credit research <p ...
  • Job Search Help: Fixed Income Portfolio Analyst a bit of time. fixed income analyst credit portfolio management analyst jobs job help <p ... Hey all- Without getting into my background, I'm looking to enter a position as fixed income ... division, Mutual Funds, Credit Hedgefunds but thinking about the lesser discussed funds/divisions is causing ...
  • Top Hedge Fund Managers of 2010 their overall pay. And who are these men? They are called hedge fund managers- in other words, they are ... total- "less than the assets that some individual banks have on their books". Hedge funds ... they can employ. Whereas traditional fund managers buy shares and bonds in the hope that they will rise ...
  • More suggestions...

No promises, but thought I'd mention a few relevant users that work in the industry: primoskillz Eienstien azurebl911

I hope those threads give you a bit more insight.

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