Get on the Desk: Getting by on Wall Street

We like to believe Wall Street is a meritocracy. And in many ways it is. Very little is more truthful than a PnL, a flood of sales credits...

Generally I find salespeople just to be annoying. And that's from a buy-side trader's point of view, not a sell-side trader. Of cour...

I've seen a lot of people struggle with fading the market recently. Fixed income markets have moved huge increments, pricing in everythi...

People often talk about having good "work-life balance." I've never quite looked at it that way. Being an economist, I'v...

Summer interns are back again, but this time they've entered the market at a rather interesting time. Normally summertime is a relative...

Yesterday the front end of the libor curve moved 40+ basis points. The 2s-30s curve moved 38-40bps depending on who you ask. Since 1982 th...

Every day I find it absolutely striking how "old-school" trading remains and how much of an edge one can get simply by understandi...

The BBA met on Friday to review how the different "ibor" rates are set. It went something like this: "Well mates, what do we...

So a lot has changed since I last blogged. Most notably, the market has found two major deficiencies with the current conventions and rippe...

I'd been away from blogging for a while as I spent a lot of time redeveloping our trading desk's risk systems. I think I'm one o...