The Market for Fixed Income Traders is Looking Up
Fixed income trading isn't necessarily seen as the sexier side of trading. For the most part, fixed income guys and gals haven't seen bonuses on par with those on the equity side of the game. But right now, as stock market volume and inflows stagnate and money pours into bonds, the market for fixed-income traders is looking up.
A number of the smaller shops, as well as many of the top investment banks are looking to create or expand their operations, sources tell eFC News. MF Global, BNY Mellon Asset Management, Newedge, and Bluefin Trading are either in hiring mode or about ready to add bodies. Scotia Capital recently announced an expansion of its global fixed income rates team in Europe, and BB&T Capital Markets has beefed up its fixed income trading operations stateside.
The move to more conservative vehicles isn't expected to change any time soon. Whether it's the growth of bond ETFs or fixed income funds, the inflows to this part of the market were inevitable. According to the TrimTabs/BarclayHedge Hedge Fund Flow Report, fixed income funds experienced a year-to-date return of 9.6 percent, "far and away the best performance of any hedge fund strategy."
While many opportunities are in the U.S., they're also cropping up in London, Beijing, and Zurich.
No matter the locale, tech people are at the top of the most wanted list. There's big demand for professionals with significant experience in launching systems design or leading systems implementation. (IT folks are pretty much in need, no matter what.) But mere tech geeks aren't the right fit for fixed-income broker-dealers. They need deep market knowledge and project management skills, too.
Sales desk, research, business analysis, and trade support people round out the must have list.