All guides
Every fixed income interview guide.
The Desks covers what each desk trades and how it makes money. The Interview covers what gets asked and how to answer it. Money & Career covers pay, exits and what the job is actually like day to day. Open a pillar for the map, then follow it down into the guides underneath.
The Desks
Read the overviewCLO Trading (Collateralized Loan Obligations): How the Tranches Pay
Sep 2026 · 20 min readReadCredit Trading Desk: How IG Spreads, CS01 and the CDS Basis Work
Sep 2026 · 21 min readReadDistressed Debt Trading Desk: How the Recovery Waterfall Works
Sep 2026 · 21 min readReadEmerging Markets Credit: Hard Currency, Local Currency and Defaults
Sep 2026 · 21 min readReadHigh Yield Trading Desk: How Yield to Worst Beats Yield to Maturity
Sep 2026 · 19 min readReadRates Trading Desk: How Steepeners, Carry and Swap Spreads Work
Sep 2026 · 20 min readReadRepo Trading Desk: How Haircuts, Specials and the Basis Trade Work
Sep 2026 · 20 min readReadSecuritized Products: How the TBA Market and Negative Convexity Work
Sep 2026 · 20 min readRead
The Interview
Read the overviewBond Math Interview Questions: The Forward-Rate Arbitrage Question, Solved
Sep 2026 · 21 min readReadCredit Analysis Interview Questions: One Company, Priced Two Ways
Sep 2026 · 19 min readReadSales and Trading Internship: The Summer Analyst Calendar, Bank by Bank
Sep 2026 · 20 min readReadSales and Trading Superday: Every Stage From Application to Offer
Sep 2026 · 21 min readReadSales and Trading Technical Questions: Dice, the Fed and a Trade Pitch
Sep 2026 · 21 min readReadWhy Fixed Income: The Interview Answer That Changes by Desk
Sep 2026 · 20 min readRead
Money & Career
Read the overviewFAQ
Frequently asked questions
- Where should I start?
- Start with The Desks to understand what each part of the fixed income floor actually trades, because every other answer depends on it. Then The Interview for the bond math, the market questions and the process itself, and Money & Career for what it pays and where it leads. If you already have an interview booked, go straight to that desk’s guide.
- What do these guides cover?
- Three topic areas: the desks and what each one trades, the interview itself including the bond math and market questions, and pay and career path. Every pillar page ties together its own guides underneath it, so you can go as deep as you need without leaving that topic.