We are partnering with a high-performing global macro hedge fund to hire a Macro Analyst to join a Fixed Income Macro RV pod. This role sits directly alongside the Portfolio Manager and plays a key part in idea generation, trade construction, and risk management. The focus is on micro RV and market microstructure within global fixed income markets.
The Role
*Generate and develop micro relative value ideas across developed market rates
*Analyse market microstructure, flow dynamics, positioning, and liquidity conditions
*Identify dislocations across cash bonds, futures, swaps, and repo markets
*Support trade structuring, entry/exit timing, and risk calibration
*Build and enhance systematic tools to monitor basis relationships, roll dynamics, and execution quality
*Work closely with the PM on portfolio construction and tactical positioning
Strategy Focus
This is not a top-down macro forecasting role. The emphasis is on:
*Curve and butterfly dislocations
*Cross-market basis trades
*Futures vs. cash relative value
*Swap spread dynamics
*Auction behaviour and dealer balance sheet constraints
*Flow-driven and technical inefficiencies
The successful candidate will be comfortable operating at the intersection of macro context and granular market mechanics.
Candidate Profile
*5-8 years’ experience in rates strategy, RV trading, or macro research
*Strong understanding of fixed income instruments and pricing
*Experience analysing positioning, flows, and liquidity
*High proficiency in Python and data analysis tools
*Intellectual curiosity and a strong interest in market structure
*Comfortable working in a fast-paced, risk-taking environment
This is an opportunity to sit in a lean, performance-driven pod where your work directly influences risk allocation and P&L. The role offers meaningful exposure to capital and a clear path toward increased responsibility within the investment process.
To apply, please send your CV to
mailto:
.