I have been offered a 3 month placement next Summer in an Investment Bank, I wanted to go into trading as I have an intense addiction to markets and trading, hoever they have put me in Debt Capital Markets, what exactly will work in this department involve, will it be enjoyable? Thanks for any assistance. Nick
Debt Capital Markets generally refers to the Investment Banking function on the bond side of the capital structure. The pace will be slow as compared to trading and you will probably be doing grunt work but you can learn a ton. Your group will be involved with bringing new bond issuances to market. Try and situate yourself on the trading desk. See if they will let you work with the capital markets liaison to the syndicate desk. Hope this helps.
This helps me a lot, I was told that I would not be on the trading floor but that I would come into contact with salesmen and traders, I worked for 1 week in N M Rothschild corporate finance that was a drag will this debt capital markets be the same or a bit more exciting, what can I read to learn more? Once again thank you for your help.
The pace will probably be very slow and you may get bored however it won't hurt having the experience on your resume.
Books: 1. Capital markets institutions and instruments. 2. Fixed income securities. 3. Handbook of fixed income securities. All three by Frank J. Fabozzi Hope this helps.