The combination of this data along with the Tradeweb institutional data that Refinitiv distributes provides broad coverage of the government agency marketplace.
Tradeweb Direct provides trade and quote data to easily find where a bond has traded and quoted historically relative to current market conditions. Explore Tradeweb as part of our instruments pricing offering. Access to our fixed income data enables you see the latest market pricing worldwide, and develop your trading infrastructure and strategy to make every trade count. Refinitiv's Fixed Income content offers global coverage of debt instruments including pricing, indices, curves, league tables, documentation and terms and conditions information.
Tradeweb supports more than 20 asset classes with electronic execution, processing, post-trade analysis and market data. We want our products to provide you optimum efficiency. Find technical support, product updates, training sessions and more. For any questions regarding our solutions and services, our customer service representatives are here to help. Home Trading solutions Fixed Income trading.
Trading solutions. Fixed Income trading. Request details. Overview Request details. When you need to know more. Useful links. Refinitiv Eikon - Global Fixed Income variant. Refinitiv Advanced Mortgage Analytics. LPC loan pricing. Municipal Market Monitor TM3. What is Fixed Income trading? How we help.
Bringing trusted and accurate expertise. Rates Stay ahead of market changes to mitigate interest rate risk, so that you can boost your fixed income investments. Explore Eikon — Fixed Income. Explore Capital Markets Insight. Primary markets: Real time and historical new issue calendars, pre-sale worksheets and sales results — from I-Deal and underwriters.
Explore TM3. Explore Yield Book Simplify complex mortgage data with advanced analytics to protect market share, identify opportunity and better understand risk. Yield Book Analytics Capable of handling the most complex fixed income products, Yield Book is a trusted and authoritative source for in-depth risk analytics, regulatory stress-testing and complex portfolio analysis across global investments. Our bespoke fixed income solutions. Explore all fixed income solutions. Eikon: Fixed Income analysis.
Get the knowledge, insight, and speed you need to boost your fixed income investments with Eikon - your solution for fixed income market analysis. Capital Markets Insight. Advanced Mortgage Analytics.
Advanced Mortgage Analytics from Refinitiv is a high-performance, mortgage analytics data platform that offers loan-level data via a web-based application. Yield Book. This drives the prices of fixed-income securities higher, thereby lowering their yields. As the economy overheats, the Fed steps in to forestall inflation by raising interest rates, and fixed-income prices fall so yields rise to keep pace with higher market rates. Individuals represent a small portion of fixed-income investors.
Individuals primarily buy fixed-income securities as savings vehicles and to provide reliable income in their retirement accounts. Corporations use fixed-income securities in maturities from overnight federal funds deposits to five-year notes as a way of managing corporate cash.
Commercial banks buy fixed-income securities for their trust accounts as well as their bank cash management needs. Insurance companies use fixed-income securities to earn money on the insurance premiums paid by their clients and to fund annuities and other guaranteed income contracts.
Government central banks use them to manage cash similar to commercial banks. Victoria Duff specializes in entrepreneurial subjects, drawing on her experience as an acclaimed start-up facilitator, venture catalyst and investor relations manager.
Since she has written many articles for e-zines and was a regular columnist for "Digital Coast Reporter" and "Developments Magazine. Most of the description above for the FX Desk applies here as well, but everything is based on commodity prices rather than FX rates. For example, there are still spots, options, futures, and swaps, and clients still trade for hedging purposes companies or speculation hedge funds.
The difference is that different types of companies have significant exposure to commodities risk. For example, airlines have huge risk exposure to increases in oil prices, so they often purchase oil swaps and futures to protect themselves by locking in their expenses. Many securities fall into this category, including U. Investors like money-market securities because they are high-liquidity, relatively low-risk investments with a short time frame. In volatile periods, investors often turn to the money markets to seek out safety and security, if a government backs the instruments.
Common participants in the money market include banks that lend to one another and large companies that raise short-term funding via commercial paper which is exempt from SEC registration and offers higher rates than Treasuries. It may not be the most exciting area for the long-term, but it can offer a solid path into other parts of FICC that trade related products. This article is representative, not comprehensive, and the descriptions above are just an introduction.
The role itself changes significantly only if you move to the managerial side, stop trading actively, and accept higher fixed pay in exchange for a lower chance of a top bonus. Individual Fixed Income traders do not necessarily earn more or less than professionals on the Equities side, so the approximate ranges there still apply:. If the equity capital markets are volatile and trading activity spikes, the Equities team will have a good year; if the government and corporate bond markets are volatile, with high trading activity, the FICC team will have a good year.
However, the rule of thumb that most traders stay in trading, move to a hedge fund or asset management firm , or join a prop trading firm generally holds up. The difference is that most of the products in FICC are more relevant for global macro funds. For more details, please see our articles on hedge funds and the hedge fund career path.
Some traders also leave for entrepreneurial opportunities such as fintech startups, where their knowledge is highly relevant, but traditional finance roles are still more common exits. You might also consider fundraising or IR roles at hedge funds, and if you make the move early enough, it is possible to go from sales to investment banking. Fixed Income is increasingly being automated and moved to electronic platforms, but larger and more complex trades will require the human element for the foreseeable future.
So, programming and math knowledge will be very helpful here, but you might not be writing a program to replace yourself as in Equities. In his spare time, he enjoys memorizing obscure Excel functions, editing resumes, obsessing over TV shows, traveling like a drug dealer, and defeating Sauron.
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The figures here came from the larger banks. Thanks for the update on the article. How might someone in my situation make the transition to trading? But I think your best bet would be to aim for hedge funds that use quant strategies or prop trading firms instead of large banks because large banks want to see finance experience and credentials, while the others just want you to get results.
You should probably start by creating some type of project such as a trading algorithm or statistical analysis of a strategy you came up with and then using it to reach out to firms. The strategy described here would work pretty well:. I think that could easily happen.
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