fixed income

What is fixed income investing, how does it work, and what is the landscape like on the buy-side?  We are proud to present one of our most exciting and high profile interviews EVER with Brian Weinstein, head of Fixed Income at Morgan Stanley Investment Management (MSIM).  We discuss the current market environment, credit products, economic policy & inflation, and we ask the tough question: can the yield curve really predict the future?  For anyone interested in exploring a job on the buy side, we talk about the path to a career, some of the key skills required, and what the relationship of portfolio managers and researchers looks like at one of the world’s biggest asset managers.  

Brian Weinstein is the Head of Fixed Income and a member of the Operating Committee of Investment Management at MSIM. He joined the firm in 2018 from Blue Elephant Capital Management, a fintech focused private credit asset manager, where he was co-founder and CIO. Prior to that role, Brian spent 16 years at BlackRock, where he was the Head of Fundamental Institutional Fixed Income, overseeing $300 billion across multiple fixed income-based strategies. Brian earned a B.A. in history from the University of Pennsylvania.

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Last year was one of the worst ever for the bond market. Fast forward to today and many people in finance say that despite the volatility, it is time for investors to get reacquainted with bonds. But what exactly are bonds, how do you go about investing in them and what are the risks? Brooke Masters, the FT’s US financial editor, stands in for Claer Barrett to discuss those questions and more with Edward Al-Hussainy, a senior analyst at Columbia Threadneedle Investments.

Want more? Click on these free-to-read FT articles:

Investors pile into bonds

Bonds are no longer the safe option

The appeal of longer bonds

How bonds ate the entire financial system

If you would like to talk to Claer about a future episode, please email the Money Clinic team at money@ft.com with a short description of your problem, and how you would like us to help. 

You can follow Brooke on X, formerly Twitter, @brookemasters

Follow Claer on X, formerly Twitter, and Instagram @Claerb

Presented by Brooke Masters. Produced by Jake Harper. Our executive producer is Manuela Saragosa. Sound design is by Breen Turner, with original music from Metaphor Music.

Read a transcript of this episode on FT.com

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What is best kept secret for understanding market dynamics and being good in investment banking?  You must understand: WHO are the firm’s clients and WHY they need you?  We arm you with the intel to ace any banking interview — either on the IBD corporate advisory side, or on the Sales, Trading, and Research side of the bank — by explaining a select few clients’ motivating factors.  We talk about hedgers vs. speculators in the markets, and strategic vs. financial buyers in the world of acquisitions.  In this episode, we also explain duration and convexity hedging through the lens of GSEs, bank portfolios, mortgage servicers, pension funds, and insurance companies.  By the end of the hour, you’ll understand giant forces moving global markets in new ways.  Plus, you’ll now be able to tell all your friends that you learned how convexity works by watching Barbie.

Sign up to attend MISS EXCEL’S FREE MASTERCLASS LIVE 

• Wednesday, March 20 (3/20) at 3pm EST
• Thursday, March 21 (3/21) at 12pm EST
• Friday, March 22 (3/22) at 12pm EST

OR to get the replay:

Register Here!
https://links.miss-excel.com/exclusive?ref=thewallstreetskinny

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We talk a lot on Odd Lots about the idea of investing. But what's it like to actually have to put money to work in some of the trickiest investing environments in history? David Schawel was an equity analyst who suddenly became the manager of a portfolio of subprime mortgage bonds during the worst of the credit crunch. Now he manages fixed-income portfolios for New River Investments. We talk to him about what it was like to manage a subprime portfolio back in 2008, the differences between stocks and bonds, and how to put money to work when lots of people are talking about an overvalued market. 

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